Wood Coating Market Scope
The wood coating covers a broad range of products including stains, varnishes, paints and supporting ancillary products that may be used indoors or outdoors. The global wood coating is increasing due to the growing production of furniture across the globe. The rising construction industry and growing infrastructures in Asia-Pacific, and the Middle East & Africa is also likely to boost the global wood coating market growth. Owing to the increasing applications of polyurethane coatings across several sectors, including commercial, architectural, and structural work, paneling, and furniture has led to significant growth of the market in the forecast period.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | AkzoNobel NV (Netherlands), Axalta (United States), BASF SE (Germany), Benjamin Moore & Co. Inc. (United States), Brillux GmbH & Co. KG (Germany), Diamond Vogel Paint Company (United States), IVM Chemicals SRL (Italy), Jotun (Norway), Kansai Paint Co. Ltd (Japan) and KAPCI Coatings Co. (Egypt) |
CAGR | % |
The wood coating market is fragmented as the market has a number of companies that offer various products. The companies are exploring the market by expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.The Vendors having a strong hold in the market are AkzoNobel NV, Axalta, and BASF SE. Research Analyst at AMA estimates that European and United States Vendors will contribute to the maximum growth of Global Wood Coating market throughout the predicted period.
AkzoNobel NV (Netherlands), Axalta (United States), BASF SE (Germany), Benjamin Moore & Co. Inc. (United States), Brillux GmbH & Co. KG (Germany), Diamond Vogel Paint Company (United States), IVM Chemicals SRL (Italy), Jotun (Norway), Kansai Paint Co. Ltd (Japan) and KAPCI Coatings Co. (Egypt) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Kelly-Moore Paint Company Inc. (United States), Nippon Paint Co. Ltd (Japan), PPG Industries Inc. (United States), Sherwin-Williams Company (United States) and Renner Herrmann SA (Brazil).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Wood Coating market by Type , by Application (Furniture and Fixtures, Doors and Windows, Cabinets, Side & Decks and Others) and Region with country level break-up.
On the basis of geography, the market of Wood Coating has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2021.
Wood Coating Market Dynamics:
Attributes | Details |
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Trends Influencing Market | - Renewable Resources has Sart to Replace Petrochemical Products in Wood Coatings to Increase Sustainability
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Key Restraints | - Rising Raw Material Cost Such as Petrochemical Products
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Challenges | - Environmental Legislation and Economic Constraints
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Market Opportunities | - Increasing Investment in Research Development by the Manufacturers
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Key Target Audience
Wood Coating Manufacturers, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Other