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Kenneth Research recently added a report on ' Wood Sealer Market ' which offers a complete evaluation of the market and its growth prospects along with new business opportunities in the industry. The report contains the market size and annual growth rate for a forecast period between 2022 and 2031.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Wood Sealer Market products.
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Moreover, amongst all the continents that used pesticides, Asia registered as the largest user of pesticides by attaining a share of 52.4% in the year 2018. It was followed by the Americas, Europe, Africa and Oceania with 32.3%, 11.6%, 2% and 1.7% respectively. The statistics also stated that China was the largest user of pesticides amongst all the nations worldwide, utilizing 1,763,000 tonnes of pesticides for agricultural use.
Wood Sealer Market – Global Drivers, Restraints, Opportunities, Trends & Forecast up to 2024
Wood, as a natural material, has many irregularities and pores on the surface that are usually filled with various oils, varnishes, and/or polymer resins such as epoxy and polyurethane. These materials which fill the pores on the surface (and in the wooden object) are known as wood sealers. Wood sealers not only make the surface more workable, but also improve the product life via protecting the wood from moisture, weathering, and microorganisms.
The wood sealer market has been analyzed by utilizing the optimum combination of secondary sources and in-house methodology along with an irreplaceable blend of primary insights. The real-time assessment of the market is an integral part of our market sizing and forecasting methodology. Our industry experts and panel of primary participants have helped in compiling relevant aspects with realistic parametric estimations for a comprehensive study. The participation share of different categories of primary participants is given below:
Key Market Insights
The traditional wood sealers, such as varnishes and oils, are cheap and readily available but have relatively lower efficacy and need periodic replenishment to perform the functions effectively. On the other hand, polymer resins have a longer life span and do not degrade easily. Even among these, epoxy resins have been more popular because of glossy aesthetics, high scratch resistance, and long durability. Polyurethane and acrylic urethane have been gaining momentum with the ease of application and environment-friendly water-based composition.
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Globally, the US is the biggest market for wood sealer, although China is a close follower and both countries are leading the demand growth in their respective region. The two regional markets represent different extremes of the wood sealer consumption pattern. The Asian markets are largely gaining from the replacement of traditional oil and varnish sealers, while the growth in the North American market is coming from higher penetration of premium products, especially in Do It Yourself (DIY) segment. The European market growth is from higher penetration in the Eastern region along with favorable growth of environment-friendly products in the Western part. Wood Sealer Market
The study of the global wood sealer market provides the market size information and industry trends along with the parameters and factors impacting it in both short- and long-term. The study also covers the competitive scenario of the market with respect to major players with their branding strategies and differentiating factors among others. The study ensures a 360° view, bringing out the complete key insights of the industry. These insights help the business decision makers to make better business plans and informed decisions for the future business. In addition, the study helps venture capitalists and investment professionals in understanding the companies better and take informed decisions.
According to Kenneth Research, the global wood sealer market is expected to grow at a CAGR of 8.1% during the forecast period to reach a value of $2.68 billion by 2024. Among applications, furniture is expected to maintain its dominance, while construction is expected to witness relatively higher growth. The crude oil price is expected to stabilize in the coming years while environmental factors are expected to play a critical role in the market growth.
The competitive scenario is very fragmented, with a large number of players competing among each other in almost all segments. The healthy competition keeps the pricing for wood sealer in check, while the large economic factors such as raw material supply and sudden disruption in the demand–supply balance impact the profitability of the producers. Few of the prominent players in the global wood sealer market are BASF SE, Evonik Industries, Sika AG, Sherwin-Williams Company, and Arkema S.A.
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o Acrylic Urethane
o Sports Equipment
o Others (wooden tools, decorative items, etc.)
o Asia Pacific
o North America
o Rest of the World
About Kenneth Research
Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defense, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
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James Bullock is a Research Expert with a demonstrated history of working in the professional training & coaching industry. Strong professional skilled in business strategy , Strategic Planning, Research Strategy, and Marketing. also have interest in new innovations and technology
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