Wood Coatings Market Size, Share, Trends | Industry Growth (2020-2027)

Wood Coatings Market Size, Share, Trends | Industry Growth (2020-2027)

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Wood Coatings Market
Wood Coatings Market

The Wood Coatings Market is anticipated to grow at significant CAGR during the forecast period (2020-2027).

The factor driving the growth of Wood Coatings Market includes increasing application of wood coatings in wooden furniture, cabinets, finishing accessories and sidings, growing demand for bio-based resins and biopolymers and regulations regarding the use of volatile organic compounds (VOC). According to the report published by Bloomberg, the Global Furniture Market is projected to reach USD 113.61 billion, growing at a CAGR of 4% over the forecast period (2020-2024), which is expected to boost the Global Wood Coatings Market in the approaching years. Moreover, the adoption of new technologies in the Wood Coating and growing construction activities around the world, are some of the additional factors supplementing the market growth. In addition, increasing disposable incomes, rising investments by private players on the research and development and rapid urbanization, are further fueling the market growth.

However, the growth of Wood Coating Market is hindered due to fluctuation in the prices of petroleum-based raw materials.

The major players operating in the market are The Valspar Corporation, The Dow Chemical Company, Akzo Nobel N.V., The Sherwin-Williams Company, RPM International Inc., Nippon Paint Co. Ltd., BASF SE, Hempel A/S, Ashland Global Holdings Inc., and PPG Industries, Inc. among other

Resin Type: Segment Analysis

Based on resin type, the polyurethane segment is predicted to grow at a remarkable CAGR during the forecast period because it provides superior load bearing, flexibility and resistance from abrasion and cut and tear.

Application: Segment Analysis

Based on application, the furniture and fixture segment is anticipated to lead the market over the forecast the period. The growing construction activities in residential and commercial areas and rising demand for chairs, bed, shelves and sofas, are some of the factors responsible for the growth of the segment.

Regional: Segment Analysis

Based on region, the Asia-Pacific region is anticipated to capture the largest market share over the forecast period owing to increase in the number of corporate offices, shopping complexes, schools and smart homes and high population density, are some of the important factors influencing the market growth in Asia-Pacific.

Market Segmentation

Global Wood Coatings Market by Resin Type

Global Wood Coatings Market by Technology

Global Wood Coatings Market by Application

Furniture and Fixture
Doors and Windows
Global Wood Coatings Market by Region

Asia PacificChina
Rest of APAC
North AmericaUnited States of America
EuropeUnited Kingdom
Rest of Europe
South Africa
Saudi Arabia

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GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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