Delray Beach, FL, March 17, 2025 (GLOBE NEWSWIRE) — In terms of value, the Wood Coatings Market 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%, as per the recent study by MarketsandMarkets™. Epoxy based wood coatings is the largest wood coatings market segment in resin type that is projected to register the highest CAGR during the forecasted period. This high growth is due to the growing demand from the furniture and cabinet applications.
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Browse in-depth TOC on “Wood Coatings Market”
387 – Market Data Tables
68 – Figures
385 – Pages
List of Key Players in Wood Coatings Market:
- 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),
- Jotun (Norway)
Drivers, Opportunities and Challenges in Wood Coatings Market:
- Drivers: Renovation and Remodeling will drive growth of wood coating
- Restraint: Volatility in raw material prices
- Opportunity: Economic growth and increase in per capita consumption
- Challenge: Stringent environmental regulations and Intense market competition
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Key Findings of the Study:
- Epoxy based, by resin type segment is expected to be fastest growing resin type for wood coatings market during the forecasted period.
- Furniture, by application segment hold the largest share in the wood coatings market during forecast period.
- North America region likely to account the second largest share of the global wood coatings market during forecasted period.
The market for epoxy-based wood coatings has the highest share of overall wood coatings market in terms of volume during the forecast period, because of their superior properties in terms of enhanced durability, moisture, chemical, and abrasion resistance. Therefore, these coatings provide the best protection for the wood surfaces exposed in high-traffic areas. They exhibit best adhesion to different wood substrates to help ensure long-term protection while maintaining the looks of wood. Epoxy coatings also provide an admirable level of sealing that avoids penetration by moisture into wood and, thus, decomposition. Versatile, they can be used on furniture, flooring, or cabinetry, among many other applications. The very broad applications increase demand among several industries pointing at long service life and above-average performance, such as construction and furniture manufacturing.
In terms of volume, the market for solvent born is the largest segment in overall wood coatings market, in 2023 because of their excellent performance, durability, and versatility. Such coatings provide superior hardness, resistance to scratches, and better protection against environmental factors such as moisture and UV rays. They are primarily used in applications, where a longer-lasting finish and resistance to wear are important. Moreover, these coatings offer smoother finishes and drying speeds faster than waterborne products. The fact that they can be applied in any weather conditions and on virtually all types of wood gives them a dominant position in the market.
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Asia Pacific has increasingly become the largest market for wood coatings because of rapid industrialization, urbanization, and the growth of the construction sector in that region. Major wood product manufacturers are established in this region, with a great number of them located in China, India, Japan, and South Korea, among others. These countries also have high demands for wood coatings because they have rising disposable incomes and shifting trends toward modern furniture and decor that in turn increases the consumption of wood coatings for residential and commercial uses. There is an ever-increasing demand for eco-friendly, durable high-performance coatings as the government imposes stricter environmental policies that would improve the adoption of modern wood coating technologies. The booming construction, furniture, and automotive industries in Asia Pacific are further encouraging the proliferation of the market as wood coatings are used primarily in enhancing the aesthetic appeal, durability, and functionality of wood products.
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