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Malaysia Wood Coatings Market Forecast 2022-2028


The Malaysia wood coatings market is expected to record a CAGR of 6.01% in terms of volume and 7.04% in terms of revenue during the forecast period, 2022-2028. The introduction of new tax benefits and low trade barriers offer immense growth opportunities in Malaysia.


Malaysia is a leading player in tropical wood and wood products and is the major global exporter of wooden furniture. The wood-based industry entails the production of veneer, sawn timber, moldings, joinery and carpentry, panel products, and furniture components. It also contributed substantially to the country's economy.

Further, technological advancements with regard to coatings with lower or no content of VOCs are contributing to market growth. In addition, the advancements in coalescing solvents for waterborne resins like 1K technologies, latent cross-linking, and core-shell technology to enhance and modify the surface properties of materials for protection in severe environments for optimal performance offer growth opportunities. Moreover, many key players invest substantially in R&D activities to develop and improve the version of wood coatings for their product portfolio at lower costs and reduced VOC emissions.

Another factor contributing to market growth is the rising disposable income. This is because enhanced living standards in the developed regions and emerging economies fuel the demand for modern furniture, thereby increasing the need for wood coatings.


Some of the eminent firms in the market are Kapci Coatings, DOW Chemicals, ICA Group, Minwax Company, Kansai Paint Co Ltd, etc.

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Malaysia Wood Coatings Market Forecast 2022-2028
Published By :Inkwood Research
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