Demand for wood stain is forecast to rise 4.3 percent each year to $1.7 billion in 2020, with furniture and decking applications accounting for nearly 60 percent of demand for wood stain. Cabinet applications will see the fastest advances in stain demand, due to the combination of strong gains in cabinet sales and the sustained popularity of solid wood cabinetry. These and other trends are presented in Wood Coatings Market in the US, a new study from Cleveland-based industry research firm The Freedonia Group.
The report notes that consumers in this market are often willing to pay a premium for advanced performance, and coatings suppliers continue to develop new products that work better, are easier to use, and last longer than older products. Wood stain sales are expected to be driven by the growth of solutions aimed at providing new levels of convenience, such as stain-and-sealer combinations—and rising stain prices due to increasingly advanced formulations. The continued popularity of wood grain in furniture as well as cabinets also are expected to contribute to this growth.
Gains will derive largely from residential markets, where healthy increases in new housing construction and moderate advances in residential maintenance activities will benefit both new and maintenance wood coatings. Among new coatings, both on-site and manufacturer-applied coatings will see strong growth, the report notes.
Competition with non-wood materials will restrain wood coatings from further advances. Overall, growth is expected to slow slightly from that of the 2010-2015 period as construction expenditures normalize after the particularly strong growth of a post-recession recovery.
Wood Coatings Market in the US is available now from The Freedonia Group. For further details, contact Corinne Gangloff by phone at 440/684.9600 or e-mail firstname.lastname@example.org.