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Factors Affecting the Growth of the Wood Coating Industry:

Thriving Construction Sector:

The growing demand for wood coatings due to the thriving construction industry is offering a positive market outlook. In addition, there is a rise in the demand for residential and commercial spaces due to rapid urbanization. Wooden materials play a vital role in construction, ranging from structural elements to interior finishes. 

Rising Environmental Concerns:

The escalating demand for eco-friendly or low-volatile organic compound (VOC) wooden coatings on account of rising concerns about environmental sustainability is offering a positive market outlook. Apart from this, there is an increase in the demand for coatings that have a reduced impact on air quality and contribute to healthier indoor environments. People are increasingly adopting sustainable products that align with sustainability goals. 

Advancements in Formulations:

Key players are investing in research and development (R&D) activities to develop new formulations that offer enhanced properties, such as superior adhesion, resistance to ultraviolet (UV) radiation, moisture protection, and durability. In line with this, advanced formulations can withstand harsh environmental conditions, ensure longevity, and reduce maintenance requirements for wood surfaces, which is contributing to the growth of the market. 

Leading Companies Operating in the Global wood Coating Industry:

Akzo Nobel N.V.

Axalta Coating Systems Ltd.

BASF SE

Brillux GmbH & Company KG

Diamond Vogel Paint Company

Eastman Chemical Company

IVM S.R.L.

Kansai Nerolac Paints Limited (Kansai Paint Co. Ltd.)

Nippon Paint (India) Private Limited

PPG Industries Inc.

RPM International Inc.

Sirca Paints India Limited

Stahl Holdings B.V.

Teknos Group Oy and Valspar Corporation (Sherwin-Williams Company). 

Wood Coating Market Report Segmentation:

By Coating Type:

Stains and Varnishes

Shellac Coating

Wood Preservatives

Water Repellents

Others

By Resin Type:

Acrylic

Nitrocellulose

Polyester

Polyurethane

By Formulating Technology:

Solvent-Borne

Water-Borne

UV-Cured

Others

By Application:

Furniture

Cabinets

Siding

Flooring

Others

Global Wood Coating Market Trends:

The rising utilization of wood coatings in the furniture industry is propelling the growth of the market. In addition, there is an increase in the demand for high-quality wood coatings that provide durability to wooden fixtures.

Furthermore, rising preferences for enhanced aesthetics on wood surfaces is impelling the growth of the market. In line with this, there is a rise in the demand for natural finishes that improve the overall look of wood surfaces. Moreover, wood coatings are widely available in different ranges catering to varying needs and preferences of individuals.