The wood coating's basic application is to shield the substrate's surface and preserve its quality, daily wear and tear look against the environment and natural decay. According to BlueQuark Research & Consulting, the global Wood Coatings market is expected to witness a moderate growth rate during the forecasted period. Factors such as the increasing demand for construction activities coupled with a rising trend toward home furniture, home décor, and updated interiors are foreseen to impede the growth of the wood coating market in the forecasted period. Further, the increasing demand for new buildings and the growing popularity of imitation finishing expect a boost to the market in the forecasted period. Furthermore, the surge in the protective coatings industry is further anticipated to propel the growth of the wood coatings market in the forecasted period. However, factors such as stringent environmental rules imposed by the government and other regulatory bodies on the usage of volatile organic compounds in the production of wood coating obstruct the growth of the wood coatings market. 

Wooden coatings are mainly utilized for surface protection and thus increase their utilization properties. Wood coatings have various applications, from smaller handicraft shops to extensive furniture production facilities. 

Furniture and fixtures are predicted to drive the market as they require a large variety of coatings that protect the wood surface from light, water, and potential damage from everyday use. Around 50% of industrial wood coatings are used for furniture. The most prominent wood coating for furniture is solvent-borne polyurethane coatings, distinguished by their high gloss, flexibility, and chemical resistance. With increasing housing construction, population, and income worldwide, the demand for furniture such as chairs, tables, beds, sofas, shelves, and cupboards has increased significantly. Further, with the rapidly growing service sector, a considerable proportion of the population has been relocating to new locations, driving the trend of hostels, co-living, guest houses, and official premises. This is predicted to augment the demand for various furniture products. In the furniture industry, concepts related to the interiors of homes, offices, and flats are changing continuously. This is propelling innovation and development, primarily in terms of designs, size, and colors, which is expected to augment furniture production volume worldwide. Wood coatings are transparent coatings that offer a glossy finish to the products, attracting consumers to buy them. But the furniture industry also relies on the global market for protection. These coatings prevent the products while shipping, ensuring no damages are incurred. These two factors help accentuate the demand in the global wood coating market.

Asia Pacific region accounted for the most extensive wood coatings market in 2019 in terms of revenue due to the region's developing construction, accompanied by rising spending in the industrial sector and infrastructural developments in developing countries such as China, India, and Indonesia. Moreover, nearly 40% of global furniture production happens in China, which will likely drive the studied market in the region further. The wood's color is often changed by staining, bleaching, or other techniques. Once the wood surface is made and stained, the coating is applied. It generally consists of several coats of shellac, drying oil, paint, wax or lacquer. Finally, the surface may be polished using steel, wool, rotten stone or other materials, depending on the appropriate shine. In addition, a final layer of wax is put on over the finish to join a degree of protection. Polyurethane finish is also connected with wood coatings. A rising number of people are moving toward the urban area to lead a better lifestyle. Wood products are an underrated necessity in the housing needs of humans as they serve in every nook and corner of the house. Beds, floors, tables, chairs, cupboards, flooring and many other parts of a place utilize wood and require finishing by painting wood coatings. This is an esteemed driver for the wood coatings market, providing incredibly high demand from residential and non-residential buildings. Wood coatings are part of the paints and coatings family and are primarily used to finish wood products. Wood-based products are often prone to destruction, corrosion, and getting stained. A glossy coat of wood coatings protects the product from these damages and increases its longevity, thus boosting sales. It also builds products that are desirable and good to look at, thus attracting customers to buy them. Many kinds of wood coatings include exterior, waterborne, radiation cure coatings, and wood finishing. With growing concerns about adopting environmentally safe products to conserve the planet for future generations, key market players in the wood coatings market are gravitating towards manufacturing natural wood finishes. Three types of wood coatings have disrupted the market and are constantly increasing sales. One of them is Livos Oil which includes natural resins and provides a satin finish with water-resistant properties. Another is Tung Oil procured from pressing Tung tree seeds. This oil is credited with offering an almost permanent seal to wood products. And the third one is teak oil gained from the teak tree and is sold as a pure solvent without any modifiers added. An increase in disposable revenue of consumers and improvement in the standard of living in growing economies like China and India are the vital factors fueling the need for modern furniture, which in turn is predicted to drive the demand for wood coatings. In addition, the housing and real estate market is witnessing significant growth, positively affecting the demand for joinery. The joinery includes cabinets and sidings. These characteristics are positively impacting the market growth.

The global Wood Coatings market is consolidated. The market's major players were Akzo Nobel NV, RPM International Inc., PPG Industries inc, and The Sherwin-Williams Company, among others.

Nano-based compounds (zinc and copper) have recently been applied to wood surfaces to investigate resistance against termites and mold. Nano-based wood coatings have appeared to be more effective regarding termite mortality and decay resistance against fungus. Moreover, silver nanoparticle-based wood coatings have been used to improve the water absorption characteristics of wood.

In January 2019, Berger Paints  (India MNC, headquartered in Kolkata) acquired a 51% stake in Saboo Hesse Wood Coatings.

Global Wood Coatings Market report provides deep insight into the current and future Wood Coatings market state across various regions. The study comprehensively analyzes the Wood Coatings market by segmenting based on Resin (Alkyd, Acrylic, Polyurethane, and Others), By Technology (Water-borne, Solvent-borne, and Others), By Type (Shellac, Lacquer, Varnish, Wax, Dye & Stain, and Others), By Application (Furniture & Fixtures, Doors & Windows, Floor & Deck, and Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report examines the market drivers and restraints, along with the impact of Covid-19 on the market growth, in detail. The study covers & includes emerging market size, trends, developments, opportunities, and challenges in the industry. This report also covers an extensively researched competitive landscape section with profiles of prominent companies, including their market shares and projects.