Posted by How Big is The Wood Coating Market?
IMARC Group, a leading market research company, has recently releases report titled “Wood Coating Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The global wood coatings market size reached US$ 9.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 13.9 Billion by 2028, exhibiting a growth rate (CAGR) of 5.89% during 2023-2028.
What is Wood Coating?
Wood coating is applied on protective and decorative finishes of furniture, flooring, cabinets, and outdoor structures. It is formulated using various materials, including varnishes, lacquers, stains, paints, and oils, each offering unique characteristics and benefits. It involves using specialized coatings to enhance the appearance, durability, and longevity of wood products. It helps in protecting the wood from environmental factors such as moisture, ultraviolet (UV) radiation, and temperature variations. Additionally, it adds aesthetic value by providing a range of finishes, including matte, glossy, satin, and textured options. Besides this, as it allows quick and effortless cleaning of surfaces, the demand for wood coating is rising worldwide.
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Wood Coating Market Trends and Drivers:
The increasing construction and remodeling activities of residential and commercial infrastructure represent one of the key factors catalyzing the demand for wood coatings for interior and exterior applications, such as doors, windows, and decking. Additionally, rising income levels of individuals and improving living standards are driving the demand for visually appealing furniture. Furthermore, the rising focus of manufacturers on developing sustainable and eco-friendly solutions to prevent the impact of harmful chemicals on human and environmental health is favoring market growth. Moreover, the development of UV-cured coatings and powder coatings that offer faster curing times, improved durability, and reduced emissions compared to traditional solvent-based coatings are contributing to market growth.
Who are the key players operating in the industry?
The report covers the major market players including:
- Akzo Nobel N.V.
- Axalta Coating Systems Ltd.
- BASF SE
- Brillux GmbH & Company KG
- Diamond Vogel Paint Company
- Eastman Chemical Company
- IVM S.R.L.
- Kansai Nerolac Paints Limited (Kansai Paint Co. Ltd.)
- Nippon Paint (India) Private Limited
- PPG Industries Inc.
- RPM International Inc.
- Sirca Paints India Limited
- Stahl Holdings B.V.
- Teknos Group Oy and Valspar Corporation (Sherwin-Williams Company).
What is included in market segmentation?
Breakup by Coating Type:
- Stains and Varnishes
- Shellac Coating
- Wood Preservatives
- Water Repellents
- Others
Breakup by Resin Type:
- Acrylic
- Nitrocellulose
- Polyester
- Polyurethane
- Others
Breakup by Formulating Technology:
- Solvent-Borne
- Water-Borne
- UV-Cured
- Others
Breakup by Application:
- Furniture
- Cabinets
- Siding
- Flooring
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.