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Asia-Pacific Wood Coatings Market Forecast 2022-2030

KEY FINDINGS

The Asia-Pacific wood coatings market is estimated to grow at a CAGR of 6.75% in terms of revenue, and 6.26% with regards to volume, during the forecast period, 2022-2030. The rising applications of wood coatings in furniture and flooring, rapid urbanization, favorable government policies, and increasing foreign investments boost the market growth.

MARKET INSIGHTS

The Asia-Pacific wood coatings market growth assessment includes the evaluation of South Korea, India, Japan, Malaysia, Vietnam, Thailand, China, Indonesia, and Rest of Asia-Pacific. The availability of low-cost labor and the rising economic growth benefit the market growth. The rising population in regions like China and India has resulted in increased demands for housing projects and infrastructure developments. Also, the technological advancements have led to rising demands for smart homes. As a result, the demand for wooden floorings, and subsequently, for radiation-cured wood coatings, is bound to increase. At the same time, the growing industrialization has resulted in increased demands for office furniture and the setting up of industrial units. Therefore, all these factors require and are dependent upon wood coatings. As a result, the Asia-Pacific wood market is expected to make notable progress, owing to such favorable conditions. Moreover, there are large amounts of investments for R&D activities by key industrial players to improve their product offerings, which benefits market growth.

COMPETITIVE INSIGHTS

Some of the major companies in the market are Kapci Coatings, Dowdupont Inc, Kansai Paint Co Ltd, Nippon Paint Holdings Co Ltd, Basf SE, etc.

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Asia-Pacific Wood Coatings Market Forecast 2022-2030
Published By :Inkwood Research
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