IMARC Group, a leading market research company, has recently releases report titled “Wood Coating Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032” The global wood coating 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.

Key Trends/Drivers affecting the growth of the global Wood Coating Market Trends and Drivers:

The rising employment of wood coatings due to the thriving construction industry across the globe currently represents one of the primary factors impelling the market growth. In line with this, the escalating demand for wood coatings in kitchen countertops and fireplaces, where exposure to high temperatures is a concern, is positively influencing the market. Additionally, the increasing utilization of wood coatings in interior design projects to enhance the visual appeal of houses is supporting the growth of the market. Apart from this, there is a rise in the demand for wood coatings to protect against weather damage. This, coupled with the increasing adoption of eco-friendly wood coatings that have low or zero volatile organic compounds (VOCs) and reduce the impact on indoor air quality and the environment while aligning with sustainability goals, is strengthening the market growth. Besides this, technological advancements in wood coating formulations, including water-based and ultraviolet (UV)-cured coatings, offer improved performance and efficiency, which is propelling the market growth. In addition, rising preferences for customized wood coatings among the masses are offering lucrative growth opportunities to industry investors. Furthermore, the growing demand for wood coatings in architectural woodwork, such as trim and moldings, along with the wide availability of wood coatings via online and offline distribution channels worldwide, is offering a positive market outlook.

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Wood coating is used to protect and enhance the surfaces of wooden materials. It is formulated with a blend of resins, pigments, and additives that create a protective barrier and enhance the appearance of wood. It is widely available in various formulations and finishes that allow for customization to meet specific design preferences and offer versatility in achieving the desired look. It is designed to provide a durable and aesthetically pleasing finish to various wood products, ranging from furniture and cabinetry to flooring and outdoor structures. It makes wooden surfaces easier to clean and maintain by creating a smooth and sealed surface that is less prone to staining and dirt buildup. It can enhance the durability of wooden surfaces, making them more resilient to everyday use, and can significantly reduce the need for refinishing over time. It plays a pivotal role in safeguarding wood against environmental factors, such as moisture, ultraviolet (UV) radiation, and wear and tear, thereby prolonging the lifespan of wooden items. It offers rapid drying times and reduces project completion times while minimizing downtime for commercial and industrial applications. It avoids moisture infiltration, which can lead to wood decay and rot, and ensures that wood remains structurally safe for use. It assists in preventing fading and discoloration of the wood and resistance to scratches while ensuring the integrity of wooden items. As it is beneficial in providing protection against water damage, the demand for wood coating is increasing around the world.  

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.
  • 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?

The report has categorized the market based on coating type, resin type, formulating technology and application.

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
  • Market Outlook 
  • 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.

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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.

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