Wood Sealer Market: Overview and Dynamics
Wood have many surface defect and irregularities such as holes, pores which needs to be levelled to be used in various end uses. For that substances such as wood sealers are used to fill up the pores thus drying up and covering the external defects. Materials such as epoxy, Polyurethane and Acrylic Urethane. Applying wood sealers not only help in filling the gaps but also increases the service life of the wood by protecting it from microorganisms, moisture due to humidity etc.
Traditional wood sealers, such as varnishes and oils, are inexpensive and widely available, but they have a low efficacy and must be replenished on a regular basis to perform their functions effectively. Polymer resins, on the other hand, have a longer life span and are less likely to degrade. Epoxy resins have been the most popular among these because of their glossy appearance, high scratch resistance, and long durability. With their ease of application and water-based composition, polyurethane and acrylic urethane have been gaining popularity in wood sealer market.
Growing population and urbanization has been a major reason for increase in construction related activities. Which further have reflected in consumption of wooden based doors, frames, cupboards, shelves and related items. All these product are highly marketable ones which require good surface finish and longer life cycle. All these things combined have indirectly created a demand for wood sealers to be used in manufacturing the end product. All in all, the wood sealer market will increase exponentially as the construction and furniture industry observes a demand growth over medium and long-run forecast period.
Sports equipment industry have also been playing a major role in growth of wood sealer market. Sports such as cricket, baseball, basketball, hockey and related ones have been using wooden based equipment’s such as bats, wickets etc. for play. The sports have been contributing towards increased consumption of wood sealer’s. Sports equipment require to be durable and possess longer lifecycle for which wood sealers are used as must. Thus, sports industry is contributing its part in growth of wood sealer market.
To sum up, the growth of wood sealer market is depended on its end-use industry such as construction, furniture, sports and all the other industries which uses wood as a raw material to produce end product from it. The driving factors of the wood sealer market is solely depended upon these industries. The market curve of wood sealer market is proportion to them and both of its drivers and restraints also.
Pertaining to wood sealer market the government regulation in various regions such as on workers safety and environmental impact while the production will be acting as a major restrain. Also, availability of raw materials and trade wars such as of US-China can affect the overall pricing, sales of wood seals which would have to bear by both the producer and the end- use customers. All in all, these restraints would play a major role in controlling the wood sealer market curve.
The Wood Sealer market is bifurcated into three major segments: by type, application, and region. Based on the type the wood sealer market can be segregated into Polyurethane, Acrylic, Urethane, Epoxy, Others. Based on Applications the wood sealer market can be classified as Sports Equipment’s, Construction Industry, Furniture, Others.
COVID-19 Impact Insights
The World Health Organization (WHO) declared COVID-19 a pandemic in early March 2020, forcing countries to impose lockdown and adhere to strict social distancing measures, resulting in market closure and a flattening economic curve around the world. The supply and demand chain, on the other hand, has been severely disrupted, resulting in a global economic loss.
Plant closures in Asia, North America, and Europe in the second quarter of 2020 reduced Wood Sealer production and sales, affecting the Wood Sealer market. Operations have been resumed in the fourth quarter of 2020, with the reduction of Covid-19 cases in some regions. The new Covid-19 strain, which was discovered in the United Kingdom, is spreading quickly, putting regulatory bodies under more pressure to impose lockdowns.
Vaccines are being approved after phase 3 trials, and countries have begun vaccination campaigns in preparation for a possible Covid-19 outbreak. Meanwhile, regulatory bodies have allowed manufacturing sectors to resume production in order to balance the supply chain. Following COVID-19 guidelines and rotating workers in different ways, on the other hand, can help the Wood Sealer Market rebound strongly by the second quarter of 2021.
Wood Sealer Market: Regional Outlook
The report "Wood Sealer market" considers six key regions: North America, Europe, Latin America, East Asia, South Asia & Oceania and Middle East and Africa, based on regional distribution. Based on production and demand, the Wood Sealer market in North America, East Asia, and Europe is expected to see a significant increase in demand.
The United States is the world's largest market for wood sealer, followed by China, both of which are driving demand growth in their respective regions. The two regional markets represent polar opposites in terms of wood sealer usage. Traditional oil and varnish sealers are being phased out in Asian markets, while premium products are driving growth in the North American market, particularly in the Do It Yourself (DIY) segment. European market growth is being driven by increased penetration in the Eastern region, as well as favorable growth of environmentally friendly products in the Western part.
To sum up the wood sealer market is expected to grow at a higher CAGR in North America and European regions pertaining to various application. Also, the Asian market have been adapting to newer variant of the wood seals in their region which is further supporting the wood sealer market to maintain growth during the forecast period.
Wood Sealer Market: Key Players
The competitive landscape is highly fragmented, with a large number of players competing in nearly every segment. While market factors such as raw material availability, supply, and sudden disruptions in the demand–supply side will have an impact on manufacturers' overall profitability, healthy competition keeps wood sealer pricing in check. The wood sealer market is dominated by
- BASF SE
- Sika AG
- Sherwin-Williams Company
- Arkema S.A.
- Kelly Moore Paints
- Evonik Industries.
Among the regional players, common organic growth strategies such as introducing new formulations, improving product distribution, and many other strategies have been observed. Acquisitions and long-term supply contracts with industries and local producers are also keeping market players on their toes.
To summarize, the wood sealer market is expected to be conservative between 2021 and 2031, according to the forecast. The wood sealer market grew at a moderate rate in 2020, and it is expected to continue to grow during the forecast year as key players adopt more strategies.
The research report presents a comprehensive assessment of the Wood Sealer Market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The wood sealer market report provides analysis and information, according to market segments such as geographies, type, and application.
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The Wood Sealer Market Report Covers Exhaustive Analysis On:
- Market Segments
- Market Dynamics
- Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
The Wood Sealer Market Regional Analysis Includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Europe (UK, Germany, Spain, France, BENELUX, Italy, Rest of Europe)
- East Asia (China, Japan, South Korea)
- South Asia & Oceania (India, ASEAN, Australia and New Zealand, Rest of South Asia & Oceania)
- The Middle East and Africa (GCC Countries, South Africa, Northern Africa, Turkey, Rest of MEA)
The Wood Sealer Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The Wood Sealer Market report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The Hemp report also maps the qualitative impact of various market factors on market segments and geographies.
An Adaptive Approach to Modern-day Research Needs
The Wood Sealer Market Report Highlights:
- A detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
Segmentation Analysis of Wood Sealer Market
The Wood Sealer market is bifurcated into three key segments: Type, Application, and Region.
Based on type, wood sealer market has been segmented as follows:
- Polyurethane Wood Sealer
- Acrylic Urethane Wood Sealer
- Epoxy Wood Sealer
Based on application, wood sealer market has been segmented as follows:
- Sports Equipment
- Construction Industry
Based on geographic regions, Wood Sealer market is segmented as
- North America
- Latin America
- East Asia
- South Asia & Oceania
- The Middle East and Africa