Wood Coatings Market Size, Share and Growth Analysis by 2025

2019

Wood Coatings Market

by Resin Type (Polyurethane, Nitrocellulose, Acrylic, Unsaturated Polyester, and Others), Technology (Waterborne, Conventional Solid Solvent Borne, High Solid Solvent Borne, Powder Coating, Radiation Cured, and Others), and End Use (Furniture, Joinery, Flooring, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2025
Update Available On-Demand

MC : Paints, Coatings and Additives	Report Code: A04318	May 2019 \| Pages: 420
Tables: 224	Charts: 40	Formats*: Single User License, Five User License & Enterprise User License Data Pack Excel License It comes with the additional cost of $2500.00 contact sales.

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Wood Coatings Market Outlook: 2025

The global wood coatings market was valued at $7,800.0 million in 2018, and is projected to reach $11,985.8 million by 2025, growing at a CAGR of 6.3% from 2020 to 2025.

Wood Coatings Market

Wood coating is widely used in the protection and refinement of wood or wood made structures. It helps in increasing the product life. Moreover, the use of wood coating enhances the visual cues of wooden object, thereby helping in marketing of the product. Based on technology, the market is segmented into waterborne, conventional solid solvent borne, high solid solvent borne, powder coating, radiation cured and others. The conventional solid solvent borne coatings have higher demand owing to the low price and quick drying characteristics.

Increase in disposable income of consumers and improvement in standard of living in developing economies such as India and China are the key factors are fueling the demand for modern furniture, which in turn is expected to drive the demand for wood coatings. In addition, as the housing and real estate market is witnessing significant growth which is positively affecting the demand for joinery. Joinery includes cabinets and sidings. These factors are positively impacting the market growth.

However, factors such as stringent environmental rules imposed by the government & other regulatory bodies on the use of volatile organic compounds (VOC) in the production of wood coating hamper the growth of the wood coatings market. This is attributed to the fact that increased use of VOCs in the production of wood coatings has harmful impact on environment. In addition, volatile raw material prices hinders the wood coatings market growth. On the other hand, advancement in coatings technology and surge in use of radiation cure coatings are some of the factors that provide lucrative opportunities in the wood coating market.

The wood coatings market is segmented based on resin type, technology, end use, and region. Depending on resin type, the market is classified into polyurethane, nitrocellulose, acrylic, unsaturated polyester, and others. By technology, it is fragmented into waterborne, solvent borne, high solid solvent borne, powder coating, radiation cured, and others. As per end use, it is segregated into furniture, joinery, flooring, and others. The wood coating market is segmented based on region including North America (U.S., Canada, Mexico), Europe (UK, Germany, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, Rest of LAMEA).

The major key players operating in the wood coatings industry include Akzo Nobel N.V., Axalta Coatings Systems, BASF SE, DowDuPont, Eastman Chemical Company, Kansai Paint Co., Ltd., Nippon Paints Holdings Co. Ltd., PPG Industries Inc., RPM International Inc., and Sherwin Williams Company. Other players operating in this market include Ashland Inc., Arkema SA, Hempel A/S, and ICI Paints. These major key players are adopting different strategies such as acquisition, business expansion, and collaboration to stay competitive in the global market.

Global wood coatings market, by region

Region wise, Asia-Pacific accounts for the major share in the global wood coatings market, owing to increase in demand for wood coatings from emerging application sectors, including furniture, joinery, flooring, and others. Owing to the advantages of wood coatings such as enduring surface finish, solvent & scratch resistance, resilience to UV light damage, resistance to general wear & tear, quick drying, superior sanding, and multi-coat & smooth finish application, the demand for wood coatings in the construction and furniture industries is expected to increase considerably.. In addition, cabinets are storage compartments, which comprise doors and drawers. They are either built on a platform or are attached to the wall, and are made from wood. Coatings with lower or no content of VOCs are gaining high importance in the coatings market. Technological advancements in the development of coalescing solvents for waterborne resins, such as core-shell technology, latent cross-linking, 1K technologies, to modify and improve the surface properties of materials for protection in severe conditions or aggressive environments, and for enhanced functional performance pose lucrative opportunities for the market growth..

Global wood coatings market Size, by resin type

Based on material, the polyurethane segment holds the major share in the market, as it is widely used owing to high-performance finish of polyurethane that preserves and improves natural wood. In addition, it possesses physical properties such as enduring surface finish, solvent & scratch resistance, resilience to UV light damage, resistance to general wear and tear, quick drying, superior sanding, and multi-coat & smooth finish application. Thus, these benefits together are expected to increase the demand for polyurethane in manufacturing of wood coatings.

Global wood coatings share, by technology

Depending on technology, the conventional solid solvent borne segment holds the major share in the market, owing to low price and quick drying characteristics. Low price of the conventional solid solvent borne wood coatings is attributed to easy availability of hydrocarbon solvent base, as it is derived from crude oil. Furthermore, solvent helps in providing viscosity to wood coatings. Thus, all these factors together significantly contribute toward the growing demand of wood coatings market.

Global wood coatings market, by end use

As per end use, the furniture segment holds the major share in the market, due to increase in expenditure power of consumers and improvement in standard of living across developing countries such as China and India. Wood coatings are applied in furniture to increase its durability & resistance toward termites attack.

Key Benefits for wood coatings market:

The wood coatings market analysis covers in-depth information of major industry participants
Wood coatings market size has been analyzed across all regions
Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building
The report outlines the current wood coatings market trends and future scenario of the wood coatings market size from 2017 to 2025 to understand the prevailing opportunities and potential investment pockets. The market is forecasted for 2020-2025
Major countries in the region have been mapped according to their individual revenue contribution to the regional market
The key drivers, restraints, and wood coatings market opportunities and their detailed impact analyses are elucidated in the study

Wood Coatings Market Report Highlights

Aspects	Details
By RESIN TYPE	Polyurethane Acrylics Nitrocellulose Unsaturated Polyester Others
By TECHNOLOGY	Waterborne Conventional Solid Solvent Borne High Solid Solvent Borne Powder Coating Radiation Cured Others
By END USE	Furniture Joinery Flooring Others
By Region	North America (U.S, Canada, Mexico) Europe (Germany, France, Italy, Spain, UK, Rest of Europe) Asia-Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific) LAMEA (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
Key Market Players	Eastman Chemical Company, AKZO NOBEL N.V, Axalta Coating Systems, RPM International Inc, Nippon Paint Holdings Co., Ltd, The Sherwin-Williams Company, PPG Industries Inc, DowDuPont INC, Kansai Paint Co., Ltd, BASF SE

CHAPTER 1: INTRODUCTION

1.1.   Report description
1.2.   Key benefits for stakeholders
1.3.   Key market segments
1.4.   Research methodology

1.4.1.   Primary research
1.4.2.   Secondary research
1.4.3.   Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY

2.1. Key findings

2.1.1. Top investment pockets

2.2. CXO perspective

CHAPTER 3: MARKET OVERVIEW

3.1. Market definition and scope

3.1.1 Parent Market Overview

3.2. Key Forces Shaping Wood Coating Market

3.2.1.   Moderate bargaining power of suppliers
3.2.2.   Moderate threat of new entrants
3.2.3.   Moderate threat of substitutes
3.2.4.   Moderate intensity of rivalry
3.2.5.   Low bargaining power of buyers

3.3. Pricing Analysis

3.3.1. Pricing Analysis By Region, 2018 & 2025

3.4.   Value Chain Analysis
3.5.   Impact of government regulations on global autoimmune disease therapeutics market
3.6.   Patent Analysis

3.6.1. By Region (2012-2017)

3.7. Case Studies

3.7.1. Case Study 01
3.7.2. Case Study 02

3.8. Market dynamics

3.8.1. Drivers

3.8.1.1. Surge in construction activities
3.8.1.2. Surge in demand for furniture and joinery

3.8.2. Restraints

3.8.2.1. Volatility in raw materials cost & availability
3.8.2.2. Harmful impact of VOCs present in the coating

3.8.3. Opportunities

3.8.3.1. Advancement in coatings technology
3.8.3.2. Growth in use of radiation cure coatings

CHAPTER 4: WOOD COATINGS MARKET, BY RESIN TYPE

4.1. Overview

4.1.1. Market size and forecast

4.2. Polyurethane

4.2.1.   Key market trends, growth factors and opportunities
4.2.2.   Market size and forecast, by region
4.2.3.   Market analysis by country

4.3. Acrylic

4.3.1.   Key market trends, growth factors, and opportunities
4.3.2.   Market size and forecast, by region
4.3.3.   Market analysis by country

4.4. Nitrocellulose

4.4.1.   Key market trends, growth factors, and opportunities
4.4.2.   Market size and forecast, by region
4.4.3.   Market analysis by country

4.5. Unsaturated Polyester

4.5.1.   Key market trends, growth factors, and opportunities
4.5.2.   Market size and forecast, by region
4.5.3.   Market analysis by country

4.6. Others

4.6.1.   Key market trends, growth factors, and opportunities
4.6.2.   Market size and forecast, by region
4.6.3.   Market analysis by country

CHAPTER 5: WOOD COATING MARKET, BY TECHNOLOGY

5.1. Overview

5.1.1. Market size and forecast

5.2. Waterborne

5.2.1.   Key market trends, growth factors and opportunities
5.2.2.   Market size and forecast, by region
5.2.3.   Market analysis by country

5.3. Conventional Solid Solvent Borne

5.3.1.   Key market trends, growth factors and opportunities
5.3.2.   Market size and forecast, by region
5.3.3.   Market analysis by country

5.4. High Solid Solvent Borne

5.4.1.   Key market trends, growth factors and opportunities
5.4.2.   Market size and forecast, by region
5.4.3.   Market analysis by country

5.5. Powder coating

5.5.1.   Key market trends, growth factors and opportunities
5.5.2.   Market size and forecast, by region
5.5.3.   Market analysis by country

5.6. Radiation cured

5.6.1.   Key market trends, growth factors and opportunities
5.6.2.   Market size and forecast, by region
5.6.3.   Market analysis by country

5.7. Others

5.7.1.   Key market trends, growth factors and opportunities
5.7.2.   Market size and forecast, by region
5.7.3.   Market analysis by country

CHAPTER 6: WOOD COATING MARKET, BY END USE

6.1. Overview

6.1.1. Market size and forecast

6.2. Furniture

6.2.1.   Key market trends, growth factors and opportunities
6.2.2.   Market size and forecast, by region
6.2.3.   Market analysis by country

6.3. Joinery

6.3.1.   Key market trends, growth factors and opportunities
6.3.2.   Market size and forecast, by region
6.3.3.   Market analysis by country

6.5. Flooring

6.5.1.   Key market trends, growth factors and opportunities
6.5.2.   Market size and forecast, by region
6.5.3.   Market analysis by country

6.7. Others

6.7.1.   Key market trends, growth factors and opportunities
6.7.2.   Market size and forecast, by region
6.7.3.   Market analysis by country

CHAPTER 7: WOOD COATING MARKET, BY REGION

7.1. Overview
7.2. North America

7.2.1.   Key market trends, growth factors, and opportunities
7.2.2.   Market size and forecast, by material
7.2.3.   Market size and forecast, by technology
7.2.4.   Market size and forecast, by end use
7.2.5.   Market share analysis, by country
7.2.6.   U.S.