The Wood Coating Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
Learn More On The Wood Coating Market:
https://www.thebusinessresearchcompany.com/report/wood-coating-global-market-report
According to The Business Research Company’s Wood Coating Global Market Report 2024, The wood coating market size has grown strongly in recent years. It will grow from $10.88 billion in 2023 to $11.71 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to construction and furniture industries, architectural applications, consumer preferences for wood finishes, protection and durability requirements, renovation and restoration projects.
The wood coating market size is expected to see strong growth in the next few years. It will grow to $15.6 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to rising demand for premium and custom finishes, growing market for outdoor wooden structures, expansion of the real estate sector, increased focus on UV-cured coatings. Major trends in the forecast period include integration of nanotechnology in coating formulations, focus on exterior wood coatings for weather resistance, customization of coating solutions for design trends, rising application of low-energy coatings, shift towards powder coatings for wood substrates.
The rise in the construction of new homes and house modifications are expected to propel the growth of the wood coating market. The rising demand for housing is increasing due to increasing population, rapid urbanization, economic/infrastructure development, favorable government policies/schemes for housing, and others. This rise in the construction of new homes and house modifications will create a significant demand for wood materials with wood coatings to be used in these new and modified residential homes. Wood coatings offer a desirable appearance while ensuring a long life of wooden materials used in homes. For instance, according to the new residential construction statistics released in February 2022 by the US Census Bureau and the US Department of Housing and Urban Development, in the USA, privately-owned housing starts in February 2022 reached 1,769,000 from 1,447,000 housing starts rate in February 2021, showing an increase of 22.3%. According to the Census Bureau's new residential construction report, housing starts rose at 6.8% over February on a seasonally adjusted basis to a rate of 1.77 million annualized units. Thus, the rise in the construction of new homes and house modifications will drive the growth of the wood coating market.
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The wood coating market covered in this report is segmented –
1) By Type: Preservative Wood Coatings, Stain Wood Coatings, Shellac Wood Coatings
2) By Product Type: Water Borne Wood Coatings, Solvent-Borne Wood Coatings, Powder Wood Coatings
3) By Application: Furniture, Cabinets, Siding, Flooring, Other Applications
Major companies operating in the wood coating market are focusing on innovative products, such as Italian wood finishes, to better meet the needs of their existing consumers. Italian wood finishes are coatings and applications applied to wood surfaces, often in the settings of furniture, interior design components, and architectural woodwork. For instance, in March 2021, JK Cement, an India-based building material company, in collaboration with Nuova SIVAM S.P.A., an Italy-based paint manufacturing company, launched JKC Wood Amore, a selection of fine Italian wood finishes. JKC Wood Amore offers a variety of polyurethane solutions that provide a superior finish, appealing aesthetics, and increased durability for interior wood surfaces. Polyurethane materials are available in over 2,000 color variations in PU matt and gloss finishes. In the near future, the brand will introduce a polyester, water-based, and special effects finish line.
The wood coating market report table of contents includes:
1. Executive Summary
2. Wood Coating Market Characteristics
3. Wood Coating Market Trends And Strategies
4. Wood Coating Market - Macro Economic Scenario
5. Global Wood Coating Market Size and Growth
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31. Wood Coating Market Other Major And Innovative Companies
32. Global Wood Coating Market Competitive Benchmarking
33. Global Wood Coating Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Wood Coating Market
35. Wood Coating Market Future Outlook and Potential Analysis
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It helps in increasing the product life.
The global wood coatings market was valued at $7,800.0 million in 2018, and is projected to reach $11,985.8 million by 2025, growing at a CAGR of 6.3% from 2020 to 2025.Increase in disposable income of consumers and improvement in standard of living in developing economies such as India and China are the key factors are fueling the demand for modern furniture, which in turn is expected to drive the demand for wood coatings.
These factors are positively impacting the market growth.Get More Information about : http://www.marketgrowthanalysis.com/reports/sample/208However, factors such as stringent environmental rules imposed by the government & other regulatory bodies on the use of volatile organic compounds (VOC) in the production of wood coating hamper the growth of the wood coatings market.
On the other hand, advancement in coatings technology and surge in use of radiation cure coatings are some of the factors that provide lucrative opportunities in the wood coating market.wood coatings Key Market Segments:By Resin TypePolyurethaneAcrylicsNitrocelluloseUnsaturated PolyesterOthersBy TechnologyWaterborneConventional Solid Solvent BorneHigh Solid Solvent BornePowder CoatingRadiation CuredOthersBy End UseFurnitureJoineryFlooringOthersRequest for Table of Contents: http://www.marketgrowthanalysis.com/reports/toc/208The wood coatings market is segmented based on resin type, technology, end use, and region.
The wood coating market is segmented based on region including North America (U.S., Canada, Mexico), Europe (UK, Germany, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, Rest of LAMEA).The major key players operating in the wood coatings industry 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.
These major key players are adopting different strategies such as acquisition, business expansion, and collaboration to stay competitive in the global market.Report Description: http://www.marketgrowthanalysis.com/wood-coating-marketAbout Us:Market Growth Analysis is one of the leading digital services provider and a result-oriented company based in Canada.
Players, stakeholders, and other participants in the global Wood Coating market will be able to gain the upper hand as they use the report as a powerful resource.
The segmental analysis focuses on sales, revenue and forecast by region, by country, company, type, application and by sales channels for the period 2016-2027.Download FREE Sample of this Report @ https://www.24chemicalresearch.com/download-sample/99766/global-wood-coating-2021-2027-337 Wood Coating is coating for wood products, widely used in furniture, doors, windows, floors, wainscoting, wooden musical instruments, sporting goods, stationery, toys, and etc.
Global Wood Coating key players include Valspar, Akzo Nobel, Nippon, PPG, Henkel, etc.
Segment by Type, the Wood Coating market is segmented into CuringSolvent Segment by Application, the Wood Coating market is segmented into Wooden FurnitureIndoor DecorationWood FloorWooden ToysWooden OutdoorOthers Regional and Country-level Analysis: North AmericaUnited StatesCanadaAsia-PacificChinaJapanSouth KoreaIndiaSoutheast AsiaAustraliaRest of Asia-PacificEuropeGermanyFranceU.K.ItalyRussiaNordic CountriesRest of EuropeLatin AmericaMexicoBrazilRest of Latin AmericaMiddle East & AfricaTurkeySaudi ArabiaUAERest of MEA Competitive Landscape and Wood Coating Market Share AnalysisWood Coating market competitive landscape provides details and data information by companies.
The major companies include: Akzo NobelPPG Industrial CoatingsNippon PaintValspar CorporationSherwin WilliamsSan Marco GroupRPM IncBrilluxTikkurilaHenkelDiamond Vogel PaintKansai PaintBasfCraig and RoseDuPontMeffert AGTaihog GroupSacalHempelCarpoly ChemicalYip's ChemicalZhanchen CoatingChina paintsGuangdong Junedos Building MaterialsSanKeShuJunZiLan coating groupGuangdong BadeseHebei Chenyang Industry and Trade GroupSanxia PaintingGuangdong Huilong Reasons to Purchase Our Research Report:1.
Analyzing the outlook of the market with the recent trends and SWOT analysis2.
Global Wood Coating Market was valued at US$ 1.5Bn in 2017 and is expected to reach US$ 2.5Bn by 2026, at a CAGR of 6.59% during a forecast period.
Moreover, stringent regulation imposed by regulatory authorities towards the emission of VOC and other hazardous products is fueling penetration of eco-friendly wood coating market growth.
However, the presence of cheaper alternatives is expected to restrain the market growth.
Properly managed and highly sustained home adds the value of the home and saves money in the long term.
On the basis of coating type, stains & varnishes segment is dominating the market for wood coating.
Wood coatings are mostly used in the exteriors and interiors in the furniture industry majorly owing to the finishing it provides to the furniture products.
