Market Size of Mexico Industrial Wood Coatings Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Mexico Industrial Wood Coatings Market Analysis
The Mexican industrial wood coatings market is expected to reach USD 150 million by the end of this year and is projected to register a CAGR of 3% during the forecast period. The market was negatively impacted by COVID-19 in 2020. However, the market has now been estimated to have reached pre-pandemic levels and is expected to grow steadily in the future.
- Increasing consumer disposable income and an improving standard of living in the country are significant factors driving demand for furniture, which is likely to drive demand for wood coatings.
- Furthermore, the housing sector is experiencing substantial growth, fuelling the demand for the manufacturing of doors and windows under the joinery sector and, thus, boosting market growth.
- However, strict environmental regulations set by the government on using volatile organic compounds in wood coatings manufacturing are anticipated to hamper market expansion.
- Furthermore, advancements in coating technology and the employment of radiation cure coatings are projected to generate opportunities in the wood coating industry in the coming years.
