According to the research report titled ‘Global wood coatings market 2019-2027’, available with Market Study Report, global wood coatings market is anticipated to grow with a CAGR of 6.46% through 2027.
 

Rising per capita income, evolving living standards in developing countries, and increasing construction activities are augmenting the growth of global wood coating market. Additionally, expanding real estate sector is another factor generating lucrative revenues. Moreover, developments in technology, and introduction of radiation cure coatings are bolstering the demand of wood coatings worldwide.
 

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For the record, wood coatings hold a wide usage in protection and enhancement of wooden structures. The coatings which are solid solvent based, are in demand owing to lower costs and quick drying properties. Using wood coatings enhances the look and increases the utilization properties of wooden items.
 

On the downside, volatility of raw materials as well as their varying prices act as barriers for the growth of global wood coatings market. Additionally, the gap in the demand & supply leads to rise in cost of wood coatings together with crude oil becoming dearer, and rising labor costs are restraining the expansion trajectory. Also, stringent environmental regulations will hamper the growth rate of the industry over the analysis timeframe.
 

Speaking of resin type, the marketplace is divided into polyurethane, unsaturated polyester, nitrocellulose, acrylics, and others. Based on technology, the industry is fragmented into conventional solvent-borne, water-borne, high solid solvent-borne, radiation-cured, and powder coating among others. While application range includes furniture, flooring, and joinery among others.
 

Moving on regional outlook, global wood coatings market sphere is scrutinized for geographies like Europe, North America, Latin America, Asia-Pacific, and Middle East & Africa.
 

The report cites that Asia-Pacific is poised to hold significant market share by the year 2027, owing to increasing demand from applications like flooring, furniture, and joineries among others. Additionally, improving per capita income, rapid urbanization, and substantial investments in infrastructure are fostering the industry share.
 

Parallelly, North America market is likely to showcase impressive growth trends over 2019-2027, due to increasing urbanization, and advancements in the housing sector.
 

Key contenders in global wood coatings industry include Akzo Nobel N.V., Axalta Coating Systems, Benjamin Moore & Co., BASF SE, Nippon Paint Holdings Co. Ltd., RPM International Inc., Eastman Chemical Company, KAPCI Coatings Co., Helios Coatings Inc., DuPont de Nemours Inc., Sherwin-Williams Company, PPG Industries Inc., Kansai Paint Co. Ltd., ICA Gruppen AB, and Minwax Company.