CLEVELAND, March 30, 2017 /PRNewswire/ -- Demand for wood stain is forecast to rise 4.3% per year to $1.7 billion in 2020. Furniture and decking applications account for nearly 60% 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 The Freedonia Group, a Cleveland-based industry research firm.
Stain sales will be driven by:
- sustained use as stain-and-sealer combinations offer more convenient coating
- continued popularity of solid wood materials in furniture, stain's primary outlet, as well as cabinets, materials that are more likely to be stained to accentuate the appearance of wood grain
- rising stain prices due to increasingly advanced formulations, like stain-and-sealer-in-one
US demand for wood coatings overall - including stains, paints, sealers and primers - is projected to increase 4.2% annually. 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, since many of the wood products going into residential construction are precoated as well as coated on site. However, competition with nonwood 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.
More information about the study is available at http://www.freedoniagroup.com/industry-study/wood-coatings-market-in-the-us-by-product-application-market-and-end-use-3479.htm
About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Chemicals studies can be purchased at www.freedoniagroup.com, www.marketresearch.com and www.profound.com.
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SOURCE The Freedonia Group