Positive outlook forecast for the US wood coatings market

Citation

(2007), "Positive outlook forecast for the US wood coatings market", Pigment & Resin Technology, Vol. 36 No. 3. https://doi.org/10.1108/prt.2007.12936cab.046

Positive outlook forecast for the US wood coatings market

Positive outlook forecast for the US wood coatings market

In the US Industrial Wood Coatings Market the segment that is likely to exhibit most growth is that of kitchen cabinets. Companies as a result are keen on focusing all their energies on this market. Penetration of environmental friendly coatings is expected to drive the revenues in this market. New analysis from Frost & Sullivan, US Industrial Wood Coatings Market, reveals that the market earned revenues of $800.0 million in 2006 and estimates to reach $982.40 billion in 2013. Despite the positive forecast for this market, the major threat arises from imports of cheaper wood products from countries such as China. Coating companies are willing to partake in the growth through either having own operations or acquiring stakes in local companies in Asia. Development of environmental friendly coatings that can also increase productivity in wood finish operations will be the focus of most coating companies.