Global Wood Coatings Market: Players Bank on Product Differentiation to Grow
Presence of numerous companies makes the global wood coatings market highly competitive. Prominent companies operating in the global wood coatings market show high degree of forward integration, which provides them with a decided competitive advantage. Apart from that, manufacturers are also seen focusing on product differentiation to entice more customers. Some of the key players in the market are BASF SE, PPG Industries Inc., the Asian Paints, Nippon Paints Holdings, the Dow Chemical Company, and Sherwin-Williams Company. The top four companies, namely The Sherwin Williams Company, PPG Industries Inc., Akzo Novel N.V. and RPM International Inc. accounted for almost 60.0% share in the global wood coatings market in 2016. Of them, The Sherwin Williams Company led the market with a majority share of 21.3% in 2016. A noticeable trend in the global wood coatings market is the foray of small and medium manufacturers which has served to intensify the competition. Most of them ...