The global wood coatings market size was valued at USD 7,934.6 billion in 2021 and is poised to grow at a significant CAGR of 5.9% during the forecast period 2022-28. Wood coatings are additives or combinations that are applied to the finished wood product in order to improve its overall qualities, such as durability, colour, and texture. Stains, varnishes, paints, and other supplementary goods for indoor and outdoor use are included in the category of wood coatings. After the wood has been dyed and prepared, the coating is applied. Wood finishing is the process of putting a coat to a finished wood product.

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A growing number of people are migrating to urban areas in search of a better quality of life. Wooden things are an underappreciated essential in people's housing demands because they may be found in every nook and corner of the house. Beds, seats, floors, tables, organizers, flooring, and a variety of other house components are made of wood and require finishing with a canvas of wood coatings. This is seen as a critical driver for the wood coatings market since it appeals to both commercial and residential customers. Wood coating paints are widely used in the furniture sector. The wood things would not seem flashy enough to sell if it weren't for these outside wood finishes. Wood coatings are clear coatings that give goods a polished finish, enticing buyers to buy them. The furniture sector, on the other hand, relies on the wood coatings market to safeguard its products. These coatings protect the objects throughout delivery, ensuring that no harm is done. These two variables contribute to the market's need for wood coatings.

The global wood coatings market segmentation:

1) By Resin Type: Polyurethane, Acrylics, Nitrocellulose, Unsaturated Polyester, and Others.

2) By Technology: Waterborne, Conventional Solid Solvent Borne, High Solid Solvent Borne, Powder Coating, Radiation Cured, and Others.

3) By End Use: Furniture, Joinery, Flooring, and Others.

Due to the increasing demand for wood coatings from progressing application industries such as furniture, woodwork, flooring, and others, Asia-Pacific leads the wood coatings market. Furthermore, advantages of wood coatings such as long-lasting surface finish, solvent and scratch resistance, UV light resistance, resistance to normal wear and tear, quick-drying, superior sanding, as well as multi-coat and smoother texture application will propel the wood coatings market in the region over the forecast period.

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There are several industry players working in the Wood Coatings Market, which include Akzo Nobel N.V., DowDuPont, BASF SE, Axalta Coatings Systems, Nippon Paints Holdings Co. Ltd., RPM International Inc., Sherwin Williams Company

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