WOOD PAINTS AND COATINGS MARKET ANALYSIS

Market Challenges And Opportunities

Global Wood Paints & Coatings Market: Restraints

Factors such as stringent environmental rules imposed by the government and other regulatory bodies on the use of volatile organic compounds (VOC) in the production of wood paints & coatings are anticipated to hamper the growth of the wood coatings market over the forecast period. Increasing tourism in different countries is expected to drive investments in the hotel and tourism infrastructure and is expected to aid in growth of the wood paints & coatings market over the forecast period.

Market Opportunity-

Furniture such as chairs, tables, beds, sofas, shelves, and cupboards has seen a huge increase in demand due to rising house construction, population, and income levels around the world. Furthermore, as the service sector expands, a large percentage of the population is shifting to new areas, driving the growth of hostels, co-living spaces, guest houses, and government offices. This is projected to boost demand for a variety of furniture items. Interior design concepts for houses, workplaces, and flats are always evolving in the furniture sector. This is spurring innovation and development, particularly in terms of designs, sizes, and colors, which is predicted to boost global furniture manufacturing volumes.