Worldwide Wood Coatings Industry to 2030 - Construction Activities Coupled with Increasing Spending Power on Repair and Remolding is Expected to Drive Growth

News provided by

Feb 10, 2023, 19:30 ET

DUBLIN, Feb. 10, 2023 /PRNewswire/ -- The "Wood Coatings Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 To 2030" report has been added to ResearchAndMarkets.com's offering.

This report titled offers strategic insights into the global Wood Coatings market along with the market size and estimates for the duration of 2018 to 2028.

The said research study covers an in-depth analysis of multiple market segments based on system type, coating type, end-use, and cross-sectional study across different geographies. The study covers the comparative analysis of different segments for the years 2019 & 2028. The report also provides a prolific view on market dynamics such as market drivers, restraints, and opportunities.

The wood coatings function in protecting the wood structures from interior to exterior. Prevention from moisture penetration and severe climatic conditions necessitates wood coatings to ensure long term durability for its wood products. The growth in the construction activities coupled with the increase in spending power on repair and remolding is expected to drive the global wood coatings market.

Among the system type, the solvent-borne segment accounted for a major value share in 2019 and expected to lose share gradually by 2028. This is attributed to harmful emissions through the use of organic solvents. However, the excellent finishing performance with technical advantages over others marks the solvent-borne wood coatings to still dominate in the market.

Geographically, the Asia Pacific region registered a more than 45% value share in 2019 and expected to cater a significant growth by 2028. The government investments for the infrastructural development and initiatives towards housing schemes in countries such as India, Vietnam, and ASEAN countries among others, is expected to propel the wood coatings market in the region. In China, the demand for water-borne wood coatings is on rising owing to the new tax reform on VOC emissions.

In early 2015, the China government implemented the new tax with an objective to reduce air pollution thereby benefitting the water-borne wood coating manufacturers. Overall, the global wood coating market is experiencing stringent environmental norms for VOCs and HAPs emissions, resulting in the gradual shift from solvent-borne coatings towards water-borne or high-solids coatings.

Some of the key players present in this market are Teknos Group Oy, BASF SE, Akzo Nobel N.V., The Sherwin-Williams Company, Valspar Corporation, Covestro AG, PPG Industries, Inc., Morrells Wood Finishes, Axalta Coating Systems, LLC, Katilac Coatings Inc. among others. Mergers/acquisition and new product launches, are some of the strategies the companies are undertaking to mark their robust presence in the global wood coatings market.

In order to help the strategic decision-makers, the report also includes profiles of the leading wood coating manufacturers, along with their, product portfolio and key developments. Other in-depth analysis provided in the report includes:

Current and future market trends to justify the forthcoming attractive markets within the wood coating industry
Market fuelers, market impediments, and their impact on the market growth
In-depth competitive environment analysis
Trailing 2-Year market size data (2018 - 2019)
SRC (Segment-Region-Country) Analysis

Key questions answered in this report

What are the key micro and macro environmental factors that are impacting the growth of Wood Coatings market?
What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
Estimated forecast and market projections up to 2030.
Which segment accounts for the fastest CAGR during the forecast period?
Which market segment holds a larger market share and why?
Are low and middle-income economies investing in the Wood Coatings market?
Which is the largest regional market for Wood Coatings market?
What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
Which are the key trends driving Wood Coatings market growth?
Who are the key competitors and what are their key strategies to enhance their market presence in the Wood Coatings market worldwide?

Key Topics Covered:

1. Preface

2. Executive Summary

3. Wood Coatings Market: Business Outlook & Market Dynamics
3.1. Introduction
3.2. Global Wood Coatings Market Value, 2020 - 2030, (US$ Million)
3.3. Market Dynamics
3.3.1. Market Drivers
3.3.2. Market Restraints
3.3.3. Key Challenges
3.3.4. Key Opportunities
3.4. Impact Analysis of Drivers and Restraints
3.5. See-Saw Analysis
3.6. Porter's Five Force Model
3.6.1. Supplier Power
3.6.2. Buyer Power
3.6.3. Threat Of Substitutes
3.6.4. Threat Of New Entrants
3.6.5. Competitive Rivalry
3.7. PESTEL Analysis
3.7.1. Political Landscape
3.7.2. Economic Landscape
3.7.3. Technology Landscape
3.7.4. Legal Landscape
3.7.5. Social Landscape

4. Wood Coatings Market: By System, 2020-2030, USD (Million)
4.1. Market Overview
4.2. Growth & Revenue Analysis: 2021 Versus 2030
4.3. Market Segmentation
4.3.1. Solvent-borne
4.3.2. Water-borne
4.3.3. High-solids

5. Wood Coatings Market: By Coating, 2020-2030, USD (Million)
5.1. Market Overview
5.2. Growth & Revenue Analysis: 2021 Versus 2030
5.3. Market Segmentation
5.3.1. Preservatives
5.3.2. Stains & Varnishes
5.3.3. Shellacs
5.3.4. Others

6. Wood Coatings Market: By End User, 2020-2030, USD (Million)
6.1. Market Overview
6.2. Growth & Revenue Analysis: 2021 Versus 2030
6.3. Market Segmentation
6.3.1. Furniture
6.3.2. Flooring
6.3.3. Decking
6.3.4. Siding
6.3.5. Others

7. North America Wood Coatings Market, 2020-2030, USD (Million)

8. UK and European Union Wood Coatings Market, 2020-2030, USD (Million)

9. Asia Pacific Wood Coatings Market, 2020-2030, USD (Million)

10. Latin America Wood Coatings Market, 2020-2030, USD (Million)

11. Middle East and Africa Wood Coatings Market, 2020-2030, USD (Million)

12. Company Profile
12.1. Teknos Group Oy
12.1.1. Company Overview
12.1.2. Financial Performance
12.1.3. Product Portfolio
12.1.4. Strategic Initiatives
12.2. BASF SE
12.2.1. Company Overview
12.2.2. Financial Performance
12.2.3. Product Portfolio
12.2.4. Strategic Initiatives
12.3. Akzo Nobel N.V.
12.3.1. Company Overview
12.3.2. Financial Performance
12.3.3. Product Portfolio
12.3.4. Strategic Initiatives
12.4. The Sherwin-Williams Company
12.4.1. Company Overview
12.4.2. Financial Performance
12.4.3. Product Portfolio
12.4.4. Strategic Initiatives
12.5. Valspar Corporation
12.5.1. Company Overview
12.5.2. Financial Performance
12.5.3. Product Portfolio
12.5.4. Strategic Initiatives
12.6. Covestro AG
12.6.1. Company Overview
12.6.2. Financial Performance
12.6.3. Product Portfolio
12.6.4. Strategic Initiatives
12.7. PPG Industries, Inc.
12.7.1. Company Overview
12.7.2. Financial Performance
12.7.3. Product Portfolio
12.7.4. Strategic Initiatives
12.8. Morrells Wood Finishes
12.8.1. Company Overview
12.8.2. Financial Performance
12.8.3. Product Portfolio
12.8.4. Strategic Initiatives
12.9. Other Notable Players
12.9.1. Company Overview
12.9.2. Financial Performance
12.9.3. Product Portfolio
12.9.4. Strategic Initiatives

For more information about this report visit https://www.researchandmarkets.com/r/j8x0zd-coatings?w=5

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets