Wood Coatings Market

As the economic downturn continues, wood coating manufacturers, whose business is closely tied to the housing and manufacturing sectors, have felt the crunch. "In 2008, the wood coatings market was subject to a general downturn due to a sharp fall in the construction industry and the consequent downsizing of manufacturing across the entire wood-production industry, from furniture to parquet floors to floor and window frames," said Sandro Paniccia, president of Italian firm ICA Group. "Despite this, ICA Group still managed to close 2008 with an overall increase in turnover of four percent. For 2009, we are not expecting a major increase, but are aiming to build on the solid growth we achieved in 2008."

"The market in 2008 was basically flat for wood coatings due to many factors including decreasing wood prices and demand, an increase in synthetic and composite decking materials used in the market and a slow housing market for new construction," said Sean Morris, product manager for Cabot Corp. "We expect a slow start in 2009 with more demand for wood products and coatings in the third quarter, after new construction and remodeling