Associate Editor, Catherine Diamond takes a look at the “Wood Coatings Market” (page 24) in this month’s cover article. As a result of a rise in the housing market, the wood coatings market has seen steady gains in recent years. According to Phil Phillips, president of CHEMARK Consulting, a growth of about 3.1 percent over the next 15 years is expected for the aggregate of wood protective and preservatives from $3100 million in 2013 to $4900 million by 2028.
“Currently wood coatings represent 84 percent, while wood preservatives hold a 16 percent SOM, Phillips said. “By 2023, the shares will shift three percentage points to 81 percent for coatings and 19 percent for preservatives.”
The key segments for this market include siding and decking, furniture and cabinets. In 2013, sliding and decking made up $698 and $673 million (22.5 percent & 21.7 percent) of the market, while furniture made up at $304 million and cabinets $332 million (9.8 percent & 10.7 percent).
“Corrosion Control” (page 27) covers the market for high-performing corrosion control technologies. These coatings are used on a number of high value structures such as offshore oil rigs, bridges and stadiums. These coatings must withstand harsh environments and offer long-lasting protection.
According to Neil Wilds, technical manager, Protective Coatings at AkzoNobel, customers are asking now for guarantees up 20-30 years for offshore assets. “Unlike the marine market, the offshore asset does not come back to dock every five years for inspection,” he said. “A fixed-platform of FPSO (floating production, storage and offloading facility) can be offshore easily for more than 25 years. In the North Sea, for example, there is a lot of extension of the lifetime of platforms and therefore a lot of maintenance painting.”
“In high value infrastructure such as stadiums, airports and bridges, the focus is also on low-maintenance systems, as they are constantly in use by the public and are often very hard to access,” he added. “There is a large focus on aesthetics in this market so chemistries such polysiloxanes and fluoropolymers are being utilized.”
Another factor is what added value a corrosion control coating brings to the table. “A good coating should add value to the customer’s business, whether this is a reduction in long-term maintenance, increased production speeds, lower VOCs, reduced energy use or improved hygiene,” said Andreu Tarve, Hempel Group Assortment Manager. “This value-add should be one of the main considerations, as it often leads to a higher long-term return on investment.”