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Solvent-borne Coatings to yield 2 out of 3 Sales in the Global Wood Coatings Market, projects Fact.MR

Wood Coating

Wood Coating

As per a recently revamped Fact.MR study, the global wood coatings market is forecast to flourish at a CAGR of 6.2% from 2022 to 2032, expected to be valued at US$ 17.7 Billion by the end of the said period of assessment. As of 2022, the industry’s worth reached US$ 9.7 Billion. Growth is attributed to the establishment of commercial and residential buildings, necessitating demand for robust quality furniture.

From 2015 to 2021, sales flourished at a 5% value CAGR, closing in at a valuation of US$ 9.2 Billion. Interior design concepts for homes, businesses, and apartments are always evolving in the furniture market. This is encouraging innovation and development, particularly in terms of design, size, and color, and is projected to increase the global production volume of furniture, thereby impelling demand for wood coatings.

As the service sector expands, a substantial portion of the population is relocating to new locations, fuelling the construction of hostels, co-living spaces, guest houses, and government buildings. This is expected to raise demand for a wide range of furniture products. Because of its importance in preventing wood from decay, the preservatives sector leads the market in terms of both value and volume. Interior wood applications such as cabinetry and flooring will benefit the most from preservatives.

Key Takeaways from the Market Study

“Soaring Investments in the infrastructure developments and preservative applications of wood coating resins have secured a positive growth trajectory for the wood coatings market, comments a Fact.MR analyst.

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Competitive Landscape

Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advancements, mergers, and acquisitions.

More Insights Available

Fact.MR, in its new offering, presents an unbiased analysis of the Technology market, presenting historical demand data (2015-2021) and forecast statistics from 2022 to 2032.

The study divulges essential insights into the market based on product type (water-borne, solvent-borne and powder,) type (preservative wood, stain wood and shellac wood), end-use (furniture, construction, marine applications, other end uses) and sales channel (institutional channels, retail channels, online channels, home improvement stores, hardware stores, franchised paints & coating stores) across five major regions (North America, Latin America, Europe, Asia Pacific and MEA).

About the Chemical & Materials at Fact.MR 

Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Technology team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over a thousand reports and 1 million-plus data points, the team has analyzed Chemicals & Materials across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.

For more information, refer to our market research report or contact the PR author.

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