Research and Markets has added one more Frost & Sullivan Report on Market Overview of the 2010 Asia Pacific Industrial Wood Coatings to their portfolio.
This report throws light on the future and the present day trends in the Asia Pacific Market for Industrial Wood Coatings from 2005-2011. 2009 has been chosen as the base year with forecasts extending from 2010-2011. Wooden flooring and surfaces, wooden furniture and in-factory coating of wooden surfaces are included in the wood coatings list. This category also includes binders, thinners and cellulose lacquers.
The Asia Pacific market for wood coatings is thriving mainly due to the vigorous growth in the coatings and paints industry in the region and also export of wooden furniture to Europe and the US. For the past five years, because of the positive economic conditions, low production and labor costs, supremacy of nitrocellulose coatings and also expansion of the wooden furniture industry, the industrial wood coatings market has been growing steadily. The Asia Pacific region’s lenient regulations have lead to the lowering of market-penetration barriers in the region, thereby attracting new entrants into the market. Vietnam and China lead the industrial wood coatings market in this region, even while facing stiff competition from other Southeast Asian countries such as Malaysia, Indonesia and Thailand.
Despite export revenues, the coating manufacturers will have to develop strategies for combating the increasing raw material costs, and the existence of a number of unqualified coatings suppliers. Their main challenge will be to produce eco-friendly products, which are also cost-effective. The research report indicates that till 2008, the Asia Pacific countries were leaders of the market with tremendous amounts of shipments being exported. However, after this period there came a slump because of the economic downturn, thereby leading to decreased import demands from the western regions in 2009. A serious reduction in volume growth was witnessed but a 1-2% growth in terms of value was still seen. In the future, greater growth has been predicted from value rather than from volume.
Source: http://www.researchandmarkets.com/