Wood Coating Market Size, Growth, Market Analysis, Segmentation, And Forecast To 2033

The new report published by The Business Research Company, titled ""Wood Coating Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the wood coating market size has grown strongly in recent years. It will grow from $10.88 billion in 2023 to $11.71 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The wood coating market size is expected to see strong growth in the next few years. It will grow to $15.6 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%.

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Wood Coating Market Thrives On Surge In Home Construction And Renovations
The rise in the construction of new homes and house modifications are expected to propel the growth of the wood coating market. The rising demand for housing is increasing due to increasing population, rapid urbanization, economic/infrastructure development, favorable government policies/schemes for housing, and others. This rise in the construction of new homes and house modifications will create a significant demand for wood materials with wood coatings to be used in these new and modified residential homes. Wood coatings offer a desirable appearance while ensuring a long life of wooden materials used in homes. For instance, according to the new residential construction statistics released in February 2022 by the US Census Bureau and the US Department of Housing and Urban Development, in the USA, privately-owned housing starts in February 2022 reached 1,769,000 from 1,447,000 housing starts rate in February 2021, showing an increase of 22.3%. According to the Census Bureau's new residential construction report, housing starts rose at 6.8% over February on a seasonally adjusted basis to a rate of 1.77 million annualized units. Thus, the rise in the construction of new homes and house modifications will drive the growth of the wood coating market.

Wave Of Sustainability Eco-Friendly Wood Coatings Transforming The Market
Eco-friendly wood coating is a key trend gaining popularity in the wood coating market. Eco-friendly coatings are made of natural or eco-friendly substances and are not harmful to the environment. Eco-friendly coatings either contribute to green living practices such as resource conservation or avoid contributing to pollution. Waxes, oils, and shellac are the most popular non-toxic, eco-friendly wood finishes on the market. Key players are focusing on offering eco-friendly wood coatings to minimize environmental impact and gain a competitive edge in the market. For instance, Centurion Wood Coatings, a US-based wood coatings company offers a range of Water-Based Coatings that are eco-friendly and provide exceptional performance with significant clarity, wood warmth, and durability. Centurion Water-Based Coatings can be applied to a variety of wood surfaces including furniture, cabinetry, wood floors, high-end architectural millwork, and all other interior wood applications. These have benefits such as non-flammability, low odor, ease of handling, and water clean-up.

The wood coating market covered in this report is segmented -

1) By Type: Preservative Wood Coatings, Stain Wood Coatings, Shellac Wood Coatings
2) By Product Type: Water Borne Wood Coatings, Solvent-Borne Wood Coatings, Powder Wood Coatings
3) By Application: Furniture, Cabinets, Siding, Flooring, Other Applications

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Major companies operating in the wood coating market report are BASF SE, The Sherwin-Williams Company, PPG Industries Inc., Akzo Nobel N.V., Sika AG, Nippon Paint Holdings Co Ltd., MAS Paints Group, RPM International Inc., Axalta Coating Systems Ltd., Cabot Corporation, The Valspar Corporation, Kansai Paint Co Ltd., Jotun A/S, Hempel A/S, Berger Paints India Limited, Benjamin Moore & Co Inc., Rust-Oleum Corporation, Tikkurila Oyj, Brillux GmbH & Co KG, Teknos Group Oyj, National Paints Factories Co Ltd., Ritver Paints & Coatings, Kemppi Oyj, Everbuild Building Products Ltd., Kusumgar Corporates, KAPCI Coating PvtLtd., Ceramic Industrial Coatings, Caparol AG, Eliokem Inc., Herberts GmbH & Co KG, Wacker Chemie AG

Contents of the report:
1. Executive Summary
2. Wood Coating Market Report Structure
3. Wood Coating Market Trends And Strategies
4. Wood Coating Market - Macro Economic Scenario
5. Wood Coating Market Size And Growth
…..
27. Wood Coating Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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