Wood Paints And Coatings Market

Wood paints & coatings is applied after the wood surface is stained and prepared. The process of applying coating to a finished wood product is known as wood finishing. Finishing is the last step of the production process and provides desirable characteristics such as moisture and heat resistance, increased durability, and enhanced appearance to the wood surface. Finishing also helps keep the end-product sanitized and easier to maintain.

Market Dynamics

The rise in the construction industry has known to favor the growth of the global wood paints & coatings market in the coming years with the rise in the urbanization and higher standard of living. The rising disposable income and increasing spending capacity has been another factor that has been contributing to the expansion of the construction industry that is further estimated to favor the global wood paints & coatings market growth in the coming years. For instance, according to a report submitted by World Bank, the GDP at Purchasing Power Parity (PPP) in Indonesia was USD 12,301 in 2019.

Growth of the furniture trade in various countries has been estimated to contribute to the rising demand for the wood paints and coatings. Additionally, higher standard of living, rising disposable income, and increasing spending capacity has been augmenting the target market growth across the globe. For instance, according to the South Africa Reserve Bank, the consumer spending in South Africa increased from USD 127,669.3 Mn in the third quarter of 2020 to USD 129,990.7 Mn in the fourth quarter of 2020. With the growth of the trading of furniture industry, the wood paints and coatings market is expected to witness high growth over the forecast period. Apart from this, the rising industrialization has also led to the rising demand for wood paints and coatings across the globe. Other factors such as the rise in tourism and increasing investments in the infrastructure are also expected to contribute to the growth of the global wood paints and coatings market.

Moreover, key players are focusing on various strategies such as mergers and collaborations. For instance, in December 2018, Rust-Oleum, a subsidiary of RPM International, Inc. acquired Siamons International Inc., a provider of non-toxic specialty mold cleaners.

Key features of the study

• This report provides in-depth analysis of global wood paints & coatings market, and provides market size (USD Mn& Kilo Tons) and compound annual growth rate (CAGR %) for the forecast period (2021-2027), considering 2024 as the base year.
• It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global wood paints & coatings market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans.
• Key companies covered as a part of this study include BASF SE, Arkema SA, Ashland Inc., RPM International Inc., Hempel A/S, AkzoNobel N.V., Premium Coatings, Chemicals Pvt. Ltd., Nippon Paint Co. Ltd., and Axalta Coatings Systems.
• Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future products launches, technology up gradation, market expansion, and marketing tactics.
• The global wood paints & coatings market report caters to various stakeholders in this industry including investors, suppliers, wood paints & coatings manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global wood paints & coatings market.

Market Segmentation

• Global Wood Paints & Coatings Market, By Resin Type
• Acrylic
• Nitrocellulose
• Epoxy
• Polyester
• Polyurethane
• Others
• Global Wood Paints & Coatings Market, By Product Type
• Stains & Varnishes
• Shellac
• Wood Preservatives
• Water Repellants
• Others
• Global Wood Paints & Coatings Market, By Technology
• Water Borne
• Solvent Borne
• UV Cured
• Global Wood Paints & Coatings Market, By Application
• Furnitures & Fixtures
• Doors & Windows
• Cabinets
• Flooring & Decking
• Others
• Global Wood Paints & Coatings Market, By Region
• North America
• U.S.
• Canada
• Latin America
• Brazil
• Argentina
• Mexico
• Rest of Latin America
• Europe
• Germany
• U.K.
• Spain
• France
• Italy
• Russia
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• ASEAN
• Rest of Asia Pacific
• Middle East
• GCC Countries
• Israel
• Rest of Middle East
• Africa
• South Africa
• North Africa
• Central Africa
• Key Players Insights
• BASF SE
• Arkema SA
• Ashland Inc.
• RPM International Inc.
• Hempel A/S
• AkzoNobel N.V
• Premium Coatings
• Chemicals Pvt. Ltd.
• Nippon Paint Co. Ltd.
• Axalta Coatings Systems

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