Wood Coatings Market Forecast and Trends Analysis Research Report 2020-2027

The GMI Research forecasts that the wood coatings market is witnessing an upsurge in demand during the forecast period. This is mainly due to the increasing construction industry, rapid urbanization, followed by the growing number of residential and commercial buildings across the world.

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Top Manufacturers in the Wood Coatings Market:

· Akzo Nobel N.V.

· The Sherwin-Williams Company

· BASF SE

· Hempel A/S

· The Valspar Corporation

· The Dow Chemical Company

· RPM International Inc.

· Nippon Paint Co. Ltd.

· Ashland Global Holdings Inc.

· PPG Industries, Inc.

Wood Coatings Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

Key Drivers

The global wood coating market is predicted to witness an upsurge in demand during the forecast period due to the increasing construction industry, rapid urbanization, followed by the growing number of residential and commercial buildings across the world. Moreover, the strong demand for advanced wood coatings materials, such as biopolymers, bio-based resins, and UV cured coatings from the furniture industry is propelling the growth of the wood coating market size. In addition to this, the wood coating offers several advantages, which include better durability, improved visual cues of the wooden object, easy maintenance, and resistivity from moisture and heat, which are some of the factors boosting the growth of the market. Additionally, the development of reflective coatings in the wood coating market, the introduction of new technologies, and the launch of eco-friendly wood coatings materials, including green wood coating, will bring various new growth opportunities for the market. On the other hand, the factors hindering the growth of the wood coating market include rigorous environmental rules forced by the regulatory bodies on the use of volatile organic compounds (VOC) in the production of wood coating.

Regional Drivers

Based on the region, the Asia-Pacific region is projected to dominate the market during the forecast period owing to rapid urbanization, increasing population, and the growing number of non-residential buildings, such as schools, corporate offices, hotels, malls, hospitals in the developing economies including India, Japan, South Korea, and China, in the region. On the other hand, North America is expected to grow at a higher CAGR during the forecast period due to the growth in the number of commercial spaces, smart homes, and industrial buildings in the region.

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Wood Coatings Market Segmentation:

Segmentation by Resin Type:

· Acrylic

· Nitrocellulose

· Polyester

· Polyurethane

· Others

Segmentation by Technology:

· Water-borne

· Solvent-borne

· UV-cured

Segmentation by Application:

· Furniture and Fixture

· Doors and Windows

· Cabinet

· Others

Segmentation by Region:

· North America

o United States of America

o Canada

· Asia Pacific

o China

o Japan

o India

o Rest of APAC

· Europe

o United Kingdom

o Germany

o France

o Spain

o Rest of Europe

· RoW

o Brazil

o South Africa

o Saudi Arabia

o UAE

o Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a leading market research company that offers market research reports for every industry. Our research teams have seasoned analysts and researchers and are always looking for industry-leading research techniques to create all-encompassing research reports. GMI Research's extensive global network allows it to collect relevant information about the industry on a regional as well as country-level basis. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of sectors. We provide step-by-step assistance to our clients through strategic and consulting services to reach a managerial and actionable decision. Our market research report offers in-depth analysis, which contains refined forecasts, a bird's eye view of the competitive landscape, major factors impacting the market growth, and various market insights to aid companies to make strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.

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