Market Research Report
Wood Coatings Market - Growth, Trends, and Forecast (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||354530|
|Published||Content info||170 Pages
Delivery time: 2-3 business days
|Wood Coatings Market - Growth, Trends, and Forecast (2020 - 2025)|
|Published: January 1, 2020||Content info: 170 Pages||
The market for wood coatings is likely to register a CAGR of over 5% during the forecast period. One of the major factors driving the market studied is the growing production of furniture across the world. The growing construction industry in Asia-Pacific, and Middle East & Africa is also likely to boost the market growth.
Growing Furniture Production Worldwide is Driving the Market Growth
Asia-Pacific Region to Dominate the Market
The Asia-Pacific region dominated the global market share. China has the largest furniture sector across the world, which is thriving, owing to the increasing domestic and foreign demand. In India, both the furniture and construction sectors have been witnessing major growth in the recent times. Some of the key factors that are boosting this growth include the increasing investment in the residential and commercial sector and government initiatives, like "Housing for All". The entry of major furniture companies, like IKEA, is also expected to boost the furniture industry growth. Additionally, there has been a major growth in the public and private investments in the construction sectors of ASEAN countries, in the recent times. These factors are likely to help the Asia-Pacific region to dominate the market, during the forecast period.
The wood coatings market is consolidated, with the top three players accounting for nearly 70% of the entire revenue share. The top three companies in the market are the Sherwin-Williams Company, AkzoNobel NV, and PPG Industries, among others.