TAGS: Environmentally Friendly Coatings Wood Coatings
The global water-borne wood coatings market is expected to grow by USD 858.37 million accelerating at a CAGR of over 7 percent during the forecast period. The materials industry is expected to witness mixed growth because of COVID-19, and the impact of the pandemic on the market in focus is also expected to remain neutral.
Wooden Furniture Market Demand to Drive WB Wood Coatings Market
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The growing demand for expeditious growth in wooden furniture market in APAC will drive the growth prospects for the global Water-borne Wood Coatings Market in the forthcoming years. 50% of the market growth will originate from APAC during the forecast period.", says senior research analyst for the Materials Industry at Technavio.
Water-borne Wood Coatings Market: Application Segment Highlights
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Application Segmentation: Furniture, Decking, Joinery, Siding and Flooring
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The growth of the furniture segment is due to the increased spending on home decoration and aesthetic appeal. Therefore, the increase in furniture demand globally is expected to fuel the demand for water-borne wood coatings during the forecast period.
Technavio evaluates the market with a detailed investigation into the market forces, emerging trends, and growth drivers. It also provides competitive benchmarking to equip clients with actionable insights that will help them navigate through the current market scenario.
Source: Technavio