The global wood paints and coatings market is expected to surpass US$ 12,342.11 million by 2027, exhibiting a CAGR of 5.9% during the forecast period (2021-2027), as published by Coherent Market Insights (CMI).
Among technology, solvent borne segment accounted for 49.2% of the revenue share in 2020. Solvent borne have low price. Moreover, solvent borne help in providing viscosity to wood coatings. They consist quick drying characteristics.
Among regions, Asia Pacific accounted for a significant market share in 2020. Rising investment in the transportation industry has been driving the target market growth in Asia Pacific. In addition, rising spending capacity of the Indian population on interior designing and wooden furniture has been propelling wood paints & coatings market in Asia Pacific.
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