International. The global wood coatings market is projected to be valued at around US$1,985.28 million in 2020, growing at a CAGR of 6.30% as of 2015.
Application methods for wood cladding include roller coating and brush coating, vacuum coating, spray coating, and others. Growth in the protective coating market and recovery of the global economy are the major drivers of the wood coatings market.
This market is forecast to grow at a CAGR of 6.30%. The emergence of new technologies and the demand for low-VOC coatings is estimated to open up new opportunities for wood coating suppliers.
The important restraining factor for the growth of the market in question is the inclination of the furniture industry towards chipboard and other metal products. The main challenge of the market is managing environmental issues and raising awareness about the benefits of this type of coating, says the MarketsandMarkets report.
