The Wood Coating Global Market Report 2023, provides comprehensive information on the wood coating market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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In accordance with The Business Research Company’s 2023 Wood Coating Global Market Report, we observe a noteworthy expansion in market size. From its 2022 valuation of $10.13 billion, the market has demonstrated substantial growth, reaching $10.87 billion in 2023. This remarkable upswing reflects a Compound Annual Growth Rate (CAGR) of 7.3%.
However, the global landscape has not been immune to the geopolitical turmoil stemming from the Russia-Ukraine conflict. This ongoing war has introduced complications into the prospects of a worldwide economic rebound post the COVID-19 pandemic, particularly in the near term. The resultant economic sanctions levied on multiple nations, coupled with the escalation of commodity prices and supply chain disruptions, have engendered inflationary pressures across goods and services. Consequently, these developments have reverberated throughout various global markets.
Despite these challenges, the global wood coating market exhibits resilience and growth potential. Projections indicate a further expansion, with the market size expected to reach $14.32 billion by 2027, characterized by a robust CAGR of 7.1%. This enduring growth trajectory underscores the industry’s adaptability and potential to weather macroeconomic uncertainties.
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The burgeoning trend within the wood coating market is the adoption of eco-friendly wood coatings, a transformation driven by environmental consciousness and sustainability concerns. These coatings, composed of natural and eco-friendly constituents, manifest a harmonious relationship with our ecosystem. They exemplify a commitment to sustainable living by either preserving resources or mitigating pollution. Among the array of eco-friendly options, waxes, oils, and shellac emerge as the premier non-toxic wood finishes, setting a new standard in the industry.
Prominent industry leaders, such as Centurion Wood Coatings, an esteemed US-based manufacturer, have taken a pioneering role. They offer a diverse range of Water-Based Coatings, redefining environmental responsibility without compromising performance. These coatings epitomize clarity, warmth, and durability. Their applications extend to a wide spectrum of wooden surfaces, including furniture, cabinetry, wood flooring, architectural millwork, and various interior wood applications. Features such as non-flammability, minimal odor, ease of application, and water-based cleanup amplify their appeal, underscoring the paradigm shift towards a greener future.
The wood coating market 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
Top Major Players:
Akzo Nobel NV
Axalta Coating Systems
BASF SE
Benjamin Moore & Co Inc.
Brillux GmbH & Co KG
Asia-Pacific was the largest region in the wood coating market in 2022.
The table of contents in TBRC’s wood coating market report includes:
1. Executive Summary
2. Wood Coating Market Characteristics
3. Wood Coating Market Trends And Strategies
4. Wood Coating Market – Macro Economic Scenario
5. Wood Coating Market Size And Growth
……………………………………………………………………
26. Africa Wood Coating Market
27. Wood Coating Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Wood Coating Market
29. Wood Coating Market Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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