Wood Coating Market : Report Highlights The Competitive Scenario With Impact Of Drivers And Challenges 2024

In the current scenario, the homeowners are interested in investing more in the upkeep of their floors, fences, siding and decks. Properly managed and highly maintained home adds value of the home and saves money in the long term. Moreover, the increasing competition, stringent regulations and new product developments are some of the important factors for the growth of the wood coatings market.

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The growing construction of residential and non-residential buildings is driving the demand for wood coating. For infrastructure development, the U.K government’s public sector investment was increased by $4.9 billion to about $77.7 billion in 2013 – 2014, over 2012 – 2013. It is expected to further increase to about $92.0 billion in 2016-2017.

Geographically, Asia-Pacific is the largest market for wood coating followed by Europe and North America. During the forecast period, the Asia-Pacific wood coating market is expected to grow at the fastest rate, owing to increase in the disposable income and construction activities in the region.

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The increasing disposable income across the globe has enhanced the living standards of people, with increased spends on houses; which also contributed to the increased demand for wood coating. According to the National Bureau of Statistics of China, the annual per capita disposable income of urban households in China increased from $2,271.0 in 2008 to $3,408.5 in 2012

Some of the major competitors in the wood coating market include Akzo Nobel Coatings NV, Sherwin-Williams Co., Kansai Paint Co. Ltd., ICI Paints, DuPont Coatings and Color Technologies Group, PPG Industries Inc., BASF Coatings AG, Dow Coating Materials, Hempel A/S, The Valspar Corporation, Ashland Inc., RPM International Inc., and Arkema SA, Nippon Paint Co. Ltd.

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