The wood coatings market (木材塗料市場) is expected to reach US$ 9.7 billion in FY 2022, with a 5.4% year-on-year growth from 2021. Over the next decade, it is projected to grow at a CAGR of 6.2%, potentially reaching US$ 17.7 billion by 2032.

The report provides insights into advancements, product launches, acquisitions, mergers, joint ventures, and competitive research in the wood coatings market. It offers estimates for major brands and players, guiding companies in their strategies.

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Market Dynamics

The wood coatings market is primarily driven by the construction industry, as coatings are extensively used in residential, commercial, and industrial construction for applications such as furniture, flooring, doors, windows, and cabinets. The growth of the construction industry, particularly in emerging economies, is expected to fuel the demand for wood coatings in the coming years. Additionally, the increasing focus on interior design and aesthetics is driving the demand for high-quality wood coatings that can enhance the visual appeal of wood surfaces.

Another key driver of the wood coatings market is the growing awareness about environmental sustainability. Manufacturers are increasingly focusing on developing eco-friendly coatings that are free from harmful chemicals and have low VOC (volatile organic compound) emissions. This trend is expected to drive the demand for eco-friendly wood coatings in the coming years, particularly in regions with stringent environmental regulations.

Market Future Outlook

The future outlook for the wood coatings market (목재 코팅 시장) is positive, with the market expected to witness continued growth in the coming years. The increasing demand for high-performance coatings that offer superior protection and durability is expected to drive market growth. Additionally, the development of innovative coatings with advanced properties, such as self-healing and anti-microbial coatings, is expected to create new opportunities for market players.

Market Insights

The global wood coatings market (marché des revêtements pour bois) is highly competitive, with a large number of players operating in the market. Some of the key players in the market include Akzo Nobel N.V., PPG Industries, Sherwin-Williams Company, BASF SE, and Asian Paints Limited. These players are focusing on product innovation, technological advancements, and strategic partnerships to strengthen their market position and expand their product portfolio.

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Key Players:

• BASF SE 
• The Dow Chemical Company
• Nouryon
• Sherwin-Williams Company
• Hempel A/S
• Valspar Corporation

Competitive Landscape:

Prominent providers of wood coatings rely on strategic partnerships, collaborations, acquisitions, and the launch of new software to maintain their position in the global market. These market leaders prioritize constant innovation to ensure a seamless relationship with their clients.

In November 2020, BASF introduced the Joncryl 953X portfolio, consisting of five acrylic dispersions designed to enhance the protective wood grain. This portfolio offers sustainable solutions with low to zero VOC levels.

The Dow Chemical Company recently unveiled the ACRYSOL™ DR-180 Rheology Modifier, a high-efficiency hydrophobically modified alkali-soluble emulsion (HASE). This innovative product serves as a viable alternative to hydroxyethylcellulose HEC technology, providing excellent sag/flow balance and exceptional application properties for spray, roller, and brush applications. It delivers the desired performance in contractor quality paints.

Key Segments Covered in the Wood Coatings Industry Survey

• By Product type
  • Water Borne
  • Solvent-Borne
  • Powder
• By Type
  • Preservative
  • Stain
  • Shellac
• By End Use
  • Furniture
  • Construction
  • Marine Applications
  • Other End Uses
• By Sales Channel
  • Institutional Channels
  • Retail Channels
  • Sales via Online Channels
  • Sales via Home Improvement Stores
  • Sales via Hardware Stores
  • Sales via Franchised Paints & Coating Stores
• By Region
  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

Explore More Related Studies Published by Fact.MR Research:

Graphite Coatings Market (グラファイトコーティング市場): https://www.factmr.com/report/graphite-coatings-market

Aerospace Coatings Market (Marché des revêtements aérospatiaux): https://www.factmr.com/report/aerospace-coatings-market

2K Protective Coatings Market (2K 보호 코팅 시장): https://www.factmr.com/report/2k-protective-coatings-market

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