Wood Coatings Market

The wood coatings market exhibits moderate growth potential and is 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%. Asia Pacific is the largest wood coatings market that is projected to register the second highest CAGR during the forecasted period. This high growth is due to the growing demand from the flooring & decks, furniture, cabinets, and sliding application.

Waterborne coatings become the fastest growing technology in the market of wood coating and this is due to environmental benefits and progress made in performance. The coatings are characterized by low volatiles organic compounds; hence they are better eco-friendly alternatives to solvent-borne ones. The increasing focus on sustainability globally and stringent environmental guidelines along with the rising consumer demand for green products have fueled even more adoption of water-based coatings. Innovations in formulation technology, too, have improved waterborne coatings in durability, aesthetics, and ease of application, making them equally competitive with the other choice of manufacturers and consumers in the wood industry.

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The key players following the strategies between 2019 to 2024, The 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), and Jotun (Norway). The companies are majorly following investment & expansion, and product launch as the strategy to grow and expand the market.

The Sherwin Williams: The Sherwin-Williams company produces and sells paints, coatings, and related goods. It provides architectural paints, coatings, and varnishes, as well as stains, tools, and floor covering materials. The business sells its goods to retail, commercial, industrial, and professional clients. Sherwin-Williams sells its goods under several names, including Thompson's Water Seal, Dutch Boy, Krylon, Minwax, and Sherwin-Williams. It sells and distributes the goods through its own retail locations, independent paint and hardware dealers, home centers, automobile retailers, industrial distributors, and merchandisers. The business has operations throughout the Caribbean, Asia-Pacific, the Middle East, North America, South America, Central America, and Europe. The US city of Cleveland, Ohio, is home to Sherwin-Williams' headquarters.

PPG Industries Inc.: PPG Industries Inc. (PPG) is a chemical firm that produces and sells coatings, paints, specialized materials, and optical goods. It supplies sealants, amorphous precipitated silica, and protective and decorative coatings. The business serves clients in a variety of end-use areas, such as packaging materials, industrial equipment and components, aerospace and marine equipment, automotive original equipment (OEM), automotive refinish, and consumer and industrial goods. It also caters to the new construction and maintenance sectors for homes and businesses. PPG has production facilities across North America, Latin America, Asia-Pacific, and Europe, the Middle East, and Africa (EMEA) in addition to its subsidiaries. The business operates research centers in North Carolina and Pennsylvania, both in the United States. PPG is based in Pittsburgh, Pennsylvania, United States.

Related Reports:

Wood Coatings Market by Resin Type (Polyurethane, Acrylic, Epoxy, Alkyd), Technology (Solvent borne, Waterborne, Powder-based), Type (Stains & Varnishes, Shellac, Wood Preservatives, Water Repellents), Application and Region - Global Forecast to 2030

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