Wood Coating Market Size

Wood Coating Market size is anticipated to surpass USD 12 Billion by the end of 2033, growing at a CAGR of 5% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of wood coating was over USD 8 Billion. The factor that is attributed to the growth of the market is the expansion of the construction industry as well as the rising construction processes that are anticipated to increase the utilization rate of wood coating across the world in the forecast period. It was calculated that the total spending in the U.S. construction sector amounted to around USD 2 trillion in 2020.

The wood coating is applied to furniture, doors and other home interiors to protect them from external influences and to decorate them. To improve the durability and upgrade the appeal of the exteriors and interiors of houses, the wood coating is a preferred option in construction processes.

Frequently Asked Questions (FAQ)

The rising demand of furniture by the burgeoning population along with the expansion of construction industry are some of the factors that are expected to drive the market growth.

The market is anticipated to attain a CAGR of 5% over the forecast period, i.e., 2023-2033.

The growing costs of raw materials along with the stringent government rules on the usage of Volatile Organic Compounds (VOC) and rising concerns of adverse effect on environment are some of the factors that are estimated to market growth.

The market in Asia Pacific is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

The major players in the market are Dunn-Edwards Corporation, AkzoNobel Hilden GmbH, DSM, Evonik Industries AG, The Dow Chemical Company, BASF, PPG Industries, Inc., Kansai Nerolac Paints Limited, Sherwin-Williams Company, Nippon Paint Holdings Group, and other key players.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by resins, technology, method, application, and by region.

The furniture segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.

Wood Coating Market Size