Wood finishing is the process of protecting or refining a wooden surface, primarily during the creation of furniture. This protects the surface of the substrate to maintain its qualities from the environment, natural decay, and daily wear and tear. Additionally, it is also used to add decorative value and enhance the appearance of the substrate. The growing population in urban areas, increasing number of construction activities such as renovations and remodeling, rapid industrialization, coupled with the rising disposable income are the chief factors that are stimulating the market demand across the globe. For instance, according to Statista, the disposable personal income in the United States is accounted for USD 14,556.4 billion in 2018.
Also, the amount increases and reached USD 15,739.3 billion in 2020. Accordingly, increasing disposable income is fostering the wood coating demand as population, thus, in turn, augments the market growth worldwide. However, awareness about the benefits of wood coating and volatility of raw material prices impedes the growth of the market over the forecast period of 2022-2028. Also, the emergence of new product developments and technologies and increasing demand for low VOC coatings are anticipated to act as a catalyzing factor for the market demand during the forecast period.
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The key regions considered for the global Wood Coating market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Asia-Pacific is the leading region across the world in terms of market share owing to the increasing investments in R&D activities, rapid urbanization, and growth of the construction industry. Whereas, Europe is anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as the rising disposable income, as well as growth of the growing spending on custom home decor, would create lucrative growth prospects for the Wood Coating market across the European region.
Major market players included in this report are:
BASF SE
Akzo Nobel N.V.
The Dow Chemical Company
The Sherwin-Williams Company
The Valspar Corporation
Hempel A/S.
RPM International Inc.
Nippon Paint Co. Ltd.
Arkema SA
Ashland Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study.
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Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Coating Type
Stains & varnishes
Shellac coating
Wood preservatives
Water repellents
Others
By Application
Roll coating & brush coating
Vacuum coating
Spray coating
Others
By End User
Furniture
Cabinets
Siding
Flooring & decking
Others
By Region:
North America
U.S.
Canada
Europe
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UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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