The evaluation of the protective potential and lifetime prediction of exterior coatings can be conducted using diverse physical and chemical analysis and testing tools. In the paper chemiluminescence analysis is presented as a novel and highly sensitive testing method which allows the characterization of exterior wood coating materials in terms of their oxidative profile and stability. Chemiluminescence instruments detect the light emitted from oxidized/oxidizing samples. The light intensity is proportional to the concentration of hydroperoxides and peroxy radicals. The latter could be formed in the course of the autoxidation or photooxidation of the coatings and could initialize the photodegradation of polymeric binders and organic coating additives.