The wood coatings market exhibits moderate growth potential and is projected to reach a market size of USD 15.18 billion by 2030 from USD 12.74 billion in 2024, at a CAGR of 3.0%. This research report provides a comprehensive analysis of the global industry, including market size, share, wood coatings market growth, demand, industry development status, and forecasts for the next few years. Asia Pacific is the largest wood coatings market that is projected to register the second highest CAGR during the forecasted period. This high growth is due to the growing demand from the flooring & decks, furniture, cabinets, and sliding application.
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Epoxy based, by resin type segment is expected to be fastest growing resin type for wood coatings market during the forecasted period.
Epoxy resins are expected to be the fastest growing wood coatings resin type because of its exceptional abrasion, moisture, and chemical resistance, adhesion, and durability. Epoxy-based coatings are therefore most suited for wood surfaces that need to be protected for an extended period of time, such flooring, cabinets, and furniture. Epoxy coatings are still in high demand for industrial applications where functionality is crucial. This has increased demand for products that can endure harsh weather conditions while still producing a smooth, long-lasting finish across a variety of sectors. Additionally, the market for epoxy-based resins is anticipated to grow as businesses and consumers seek coatings that will improve protection and aesthetics.
Furniture, by application segment hold the largest share in the wood coatings market during forecast period.
The market for wood coatings is dominated by the furniture industry because of the growing need for durable and attractive furniture. In addition to providing durability and protection from stains, scratches, and ordinary environmental wear and tear, wood coatings also assist to emphasize texture and beauty. High-quality wood coatings are in greater demand as people’s disposable income rises and they purchase more expensive furniture, which propels the industry forward. Additionally, certain coatings are required to complete the components of designer and bespoke furniture. Furniture application is the most prominent category in this end use and continues to drive the greatest portion of the market over the rapidly expanding furniture manufacturing sector, particularly in Asia Pacific, which is home to the largest rising market for eco-friendly coatings.
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North America region likely to account the second largest share of the global wood coatings market during forecasted period.
North America is expected to have the second-largest share of the global wood coatings market during the forecast period, owing to a robust building and furniture sector. The rising need for aesthetically pleasing and protective coatings for residential, commercial, and industrial applications is driving demand for high-end, long-lasting wood coatings. The necessity for wood finishes stems from the growing popularity of interior design and home renovations as well as the overall preference for wooden furniture. Additionally, the use of water-based and low volatile organic compounds (VOCs) paints is becoming more common as North America promotes sustainability and eco-friendly goods, which boosts the industry as a whole. Additionally, North America opens up in terms of regulatory standards which internally elevate innovation as well as progress within the wood coatings market; it thus becomes a player in the game.
The Sherwin Williams company (US), PPG Industries, Inc. (US), Akzo Nobel N.V. (Netherlands), Axalta Coating Systems, LLC (US), RPM International (US), Asian Paints Ltd. (India), and Jotun (Norway) are the key players in the global wood coatings market.
The Sherwin Williams: The Sherwin-Williams company produces and sells paints, coatings, and related goods. It provides architectural paints, coatings, and varnishes, as well as stains, tools, and floor covering materials. The business sells its goods to retail, commercial, industrial, and professional clients. Sherwin-Williams sells its goods under several names, including Thompson’s Water Seal, Dutch Boy, Krylon, Minwax, and Sherwin-Williams. It sells and distributes the goods through its own retail locations, independent paint and hardware dealers, home centers, automobile retailers, industrial distributors, and merchandisers. The business has operations throughout the Caribbean, Asia-Pacific, the Middle East, North America, South America, Central America, and Europe. The US city of Cleveland, Ohio, is home to Sherwin-Williams’ headquarters.
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PPG Industries Inc.: PPG Industries Inc. (PPG) is a chemical firm that produces and sells coatings, paints, specialized materials, and optical goods. It supplies sealants, amorphous precipitated silica, and protective and decorative coatings. The business serves clients in a variety of end-use areas, such as packaging materials, industrial equipment and components, aerospace and marine equipment, automotive original equipment (OEM), automotive refinish, and consumer and industrial goods. It also caters to the new construction and maintenance sectors for homes and businesses. PPG has production facilities across North America, Latin America, Asia-Pacific, and Europe, the Middle East, and Africa (EMEA) in addition to its subsidiaries. The business operates research centers in North Carolina and Pennsylvania, both in the United States. PPG is based in Pittsburgh, Pennsylvania, United States.
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