By Nick Gilbert
Research and Markets, the company offering market research solutions, has published the report prepared by Frost and Sullivan titled, "Western European Industrial Wood Coatings Markets".
The industrial wood coatings market in Western Europe is thoroughly analyzed by geographic segments. The various geographical markets considered are Germany, Iberia, Italy, Switzerland, United Kingdom, Scandinavia, Republic of Ireland, Austria, the Benelux countries and France. The report presents the factors driving the market and the factors inhibiting growth. The average pricing trend of the industry is captured in the report. The key applications of wood coatings are included.
Technological innovations are considered to be the key factors promising further growth of an already mature market. The increase in the emission of volatile organic compound (VOC) has led to the formulation of rigorous environmental regulations which in turn has led to the transition towards waterborne and radcure coatings. This transition is envisaged to foster market growth. The higher price of waterborne and radcure coatings in comparison to solvent-based coatings are also expected to enhance revenues.
Eastern Europe is attractive to coatings manufacturers owing to the comparable low costs. Manufacturers who expand their operations to Eastern Europe stand to gain from it by way of increased margins as a result of reduced costs. One of the biggest challenges faced by the industry is the stringent environmental regulation which is like a double-edged sword. Those manufacturers whose coatings are not regulatory compliant will be fined heavily and may even be forced to shut down operations. The same regulations are an opportunity for some manufacturers to distinguish their product from competitors.