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Wood Coatings Market: Segmented By Application And Geography Trends, Growth And Forecasts To 2025

The global Wood Coatings Market is estimated to reach USD 11,985.8 million by 2025 and is anticipated to grow at a CAGR of 6.3% during the forecast period, according to a comprehensive study added by Report Ocean,

The report offers an in-depth analysis of major driving factors, segments, regions & countries and key players in the market. Moreover, the report also outlines the competitive scenarios across different geographies along with key developments which include mergers and acquisitions, new product or services development, R&D activities, thus giving insights to the market players about the major regions gaining traction.

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Growth Factors and Restraints

In addition, rapid increase in disposable income of consumers are some of the key factors that supplement the growth of the furniture market. Moreover, increase in preference for smart homes among customers increased the rate of furniture manufacturing. This in turn is expected to drive the need for wood coatings, as they are applied on furniture’s to increase the resistance and durability of the furniture and enhances the visual appearance of the furniture’s. Rise in consumers demand for wooden flooring and joinery that includes cabinets and siding has lead increase in use of wood coatings in construction industry. Furthermore, surge in preference for wood coatings, owing to its high-performance finish that preserve and improve natural wood.

The worldwide Wood Coatings market research report provides a deep-dive analysis of the present market situation and future market trends. The analysis provided in the report help the manufacturers, companies, service providers, etc. as a major guiding factor for decision making and analyzing the current and future market situations. The report also analyzes the major players operating in the market.

List of major players operating in the Wood Coatings market include:

Akzo Nobel N.V., Axalta Coatings Systems, BASF SE, DowDuPont, Eastman Chemical Company, Kansai Paint Co., Ltd., Nippon Paints Holdings Co. Ltd., PPG Industries Inc., RPM International Inc., and Sherwin Williams Company.

Based on technology, the market is segmented into waterborne, conventional solid solvent borne, high solids solvent borne, powder coating, radiation cured and others. The conventional solid solvent borne coating has higher demand owing to the low price and quick drying characteristics. The low price of the conventional solid solvent bore wood coatings is due to the easy availability of the hydrocarbon solvent base and providing certain viscosity to the wood coating which helps in the application of coating to certain objects. All these factors together significantly contribute to the global wood coatings market growth.
Based on end use, the market is segmented into furniture’s, joinery, flooring and others. The furniture segment is expected to grow due to increase in expenditure power of consumers and improvement in standard of living that has fueled the demand for furniture across developing countries such as China and India. Wood coatings are applied in furniture’s to increase the resistance and durability of the furniture. Furthermore, the wood coating enhances the visual appearance of the furniture’s. These factors are likely to increase the demand for wood coating which positively impacts the wood coatings market.
Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific emerges as a global leader in wood coatings market due to increase in demand for wood coatings in the developing economies such as India and China, owing to development of the construction industries, and increase in users of the furniture. This factor is likely to increase the Asia-Pacific wood coatings market size from 2020 to 2025.

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Major highlights of the Table of Contents of the study:

  • Market Overview & Summary
  • Market Dynamics
    • Drivers
    • Restraints
    • Opportunities
    • Challenges
    • Market Share Analysis
    • PORTERS Analysis
    • PESTEL Analysis
    • Value-chain Analysis

Why purchase this report

  1. The report would provide an in-depth analysis of the current and future market trends
  2. Analysis of both global, regional and country lever markets
  3. Key strategic initiatives are taken by major players operating in the market along with ranking analysis for the key players
  4. Analysis based on historical information along with the current trends to estimate the future of the market
  5. Analysis of the impact of constantly changing global market scenarios on the market

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