Wood Coating Market
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Global <strong>Wood</strong> <strong>Coating</strong> <strong>Market</strong> Trends, Share, Growth Rate,<br />
Opportunities and <strong>Market</strong> Analysis by 2023<br />
The availability of quality and cheaper alternatives, such as plastic wood and wood<br />
composite is expected to hamper the growth of the wood coatings market.
Some of the major drivers behind the growing demand of global wood coating market include<br />
rise in new construction (both residential and commercial), recovery of global economy,<br />
increasing disposable income and increasing urbanized population. The growing construction of<br />
residential and non-residential buildings is driving the demand for wood coating.<br />
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The increasing disposable income across the globe has enhanced the living standards of people,<br />
with increased spends on houses; which also contributed to the increased demand for wood<br />
coating. According to the National Bureau of Statistics of China, the annual per capita disposable<br />
income of urban households in China increased from $2,271.0 in 2008 to $3,408.5 in 2012.<br />
In the current scenario, the homeowners are interested in investing more in the upkeep of their<br />
floors, fences, siding and decks. Properly managed and highly maintained home adds value of<br />
the home and saves money in the long term.<br />
Based on coating type, the global wood coating market is segmented into stains and varnishes,<br />
shellacs, water repellents and others. Based on end-user, the global wood coating market is<br />
segmented into furniture, cabinets, siding, flooring, decking and others.<br />
Geographically, Asia-Pacific is the largest market for wood coating followed by Europe and North<br />
America. During the forecast period, the Asia-Pacific wood coating market is expected to grow at<br />
the fastest rate, owing to increase in the disposable income and construction activities in the<br />
region.<br />
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Some of the major competitors in the wood coating market include Akzo Nobel <strong>Coating</strong>s NV,<br />
Sherwin-Williams Co., Kansai Paint Co. Ltd., ICI Paints, DuPont <strong>Coating</strong>s and Color<br />
Technologies Group, PPG Industries Inc., BASF <strong>Coating</strong>s AG, Dow <strong>Coating</strong> Materials, Hempel<br />
A/S, The Valspar Corporation, Ashland Inc., RPM International Inc., and Arkema SA, Nippon<br />
Paint Co. Ltd.<br />
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