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Wood Coatings Market: By Resin Type, By Technology, By End User and Region Forecast 2019-2030
Wood Coatings Market: By Resin Type, By Technology, By End User and Region Forecast 2019-2030
Wood Coatings Market size was valued at US$ 7,934.6 million in 2023 and is growing at a significant CAGR of 5.9% from 2024-2030. In addition, global market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global market report include suppliers, manufacturers, marketers, policy makers, and service providers engaged in global wood coatings. This report considers the influence of COVID-19 on the market and includes insights, analysis, projections, and predictions.
Study Period
2024-2030Base Year
2023CAGR
6.1%Largest Market
Asia PacificFastest Growing Market
Europe
The global wood coatings market is expected to be valued at US$ 7,934.6 Mn in 2019 and growing at a significant CAGR over the forecast period to reach US$ 12,089.2 Mn by 2026 owing to 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 market.
In 2019, Asia Pacific contributed highest revenue share followed by North America, and Europe in the global market. Asia Pacific region is anticipated to grow with a significant CAGR over the forecast years owing to upsurge in demand for wood coatings from emerging application sectors, including furniture, joinery, flooring, and others. Due to the advantages of wood coatings such as durable 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.
Moreover, 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.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 7,934.6 million |
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Market CAGR |
6.1% |
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By Resin Type |
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By Technology |
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By End User |
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By Region |
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Download Free Sample Report
The global wood coatings market size was valued at US$ 7,934.6 million in 2023 and is projected to grow at a CAGR of 5.9% from 2024 to2030.
Akzo Nobel N.V., DowDuPont, BASF SE, Axalta Coatings Systems, RPM International Inc.
North America is the fastest-growing region for wood coatings market
| 1.Executive Summary |
| 2.Global Wood Coatings Market Introduction |
| 2.1.Global Wood Coatings Market - Taxonomy |
| 2.2.Global Wood Coatings Market - Definitions |
| 2.2.1.Resin Type |
| 2.2.2.Technology |
| 2.2.3.End User |
| 2.2.4.Region |
| 3.Global Wood Coatings Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Wood Coatings Market Analysis, 2019 - -2023 and Forecast 2024 - -2030 |
| 4.1. Market Analysis, 2019 - -2023 and Forecast, 2024 - -2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Wood Coatings Market By Resin Type, 2019 - -2023 and Forecast 2024 - -2030 (Sales Value USD Million) |
| 5.1. Polyurethane |
| 5.1.1. Market Analysis, 2019 - -2023 and Forecast, 2024 - -2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Acrylics |
| 5.2.1. Market Analysis, 2019 - -2023 and Forecast, 2024 - -2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Nitrocellulose |
| 5.3.1. Market Analysis, 2019 - -2023 and Forecast, 2024 - -2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Unsaturated Polyester |
| 5.4.1. Market Analysis, 2019 - -2023 and Forecast, 2024 - -2030, (Sales Value USD Million) |
| 5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 5.5. Others |
| 5.5.1. Market Analysis, 2019 - -2023 and Forecast, 2024 - -2030, (Sales Value USD Million) |
| 5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.5.3. Market Opportunity Analysis |
| 6.Global Wood Coatings Market By Technology, 2019 - -2023 and Forecast 2024 - -2030 (Sales Value USD Million) |
| 6.1. Waterborne |
| 6.1.1. Market Analysis, 2019 - -2023 and Forecast, 2024 - -2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Conventional Solid Solvent Borne |
| 6.2.1. Market Analysis, 2019 - -2023 and Forecast, 2024 - -2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. High Solid Solvent Borne |
| 6.3.1. Market Analysis, 2019 - -2023 and Forecast, 2024 - -2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Powder Coating |
| 6.4.1. Market Analysis, 2019 - -2023 and Forecast, 2024 - -2030, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Radiation Cured |
| 6.5.1. Market Analysis, 2019 - -2023 and Forecast, 2024 - -2030, (Sales Value USD Million) |
| 6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 6.6. Others |
| 6.6.1. Market Analysis, 2019 - -2023 and Forecast, 2024 - -2030, (Sales Value USD Million) |
| 6.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.6.3. Market Opportunity Analysis |
| 7.Global Wood Coatings Market By End User, 2019 - -2023 and Forecast 2024 - -2030 (Sales Value USD Million) |
| 7.1. Furniture |
| 7.1.1. Market Analysis, 2019 - -2023 and Forecast, 2024 - -2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Joinery |
| 7.2.1. Market Analysis, 2019 - -2023 and Forecast, 2024 - -2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Flooring |
| 7.3.1. Market Analysis, 2019 - -2023 and Forecast, 2024 - -2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Others |
| 7.4.1. Market Analysis, 2019 - -2023 and Forecast, 2024 - -2030, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 8.Global Wood Coatings Market By Region, 2019 - -2023 and Forecast 2024 - -2030 (Sales Value USD Million) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2019 - -2023 and Forecast, 2024 - -2030, (Sales Value USD Million) |
| 8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2019 - -2023 and Forecast, 2024 - -2030, (Sales Value USD Million) |
| 8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Asia Pacific (APAC) |
| 8.3.1. Market Analysis, 2019 - -2023 and Forecast, 2024 - -2030, (Sales Value USD Million) |
| 8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Middle East and Africa (MEA) |
| 8.4.1. Market Analysis, 2019 - -2023 and Forecast, 2024 - -2030, (Sales Value USD Million) |
| 8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Latin America |
| 8.5.1. Market Analysis, 2019 - -2023 and Forecast, 2024 - -2030, (Sales Value USD Million) |
| 8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 9.North America Wood Coatings Market ,2019 - -2023 and Forecast 2024 - -2030 (Sales Value USD Million) |
| 9.1. Resin Type Analysis 2019 - -2023 and Forecast 2024 - -2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Polyurethane |
| 9.1.2.Acrylics |
| 9.1.3.Nitrocellulose |
| 9.1.4.Unsaturated Polyester |
| 9.1.5.Others |
| 9.2. Technology Analysis 2019 - -2023 and Forecast 2024 - -2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Waterborne |
| 9.2.2.Conventional Solid Solvent Borne |
| 9.2.3.High Solid Solvent Borne |
| 9.2.4.Powder Coating |
| 9.2.5.Radiation Cured |
| 9.2.6.Others |
| 9.3. End User Analysis 2019 - -2023 and Forecast 2024 - -2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Furniture |
| 9.3.2.Joinery |
| 9.3.3.Flooring |
| 9.3.4.Others |
| 9.4. Country Analysis 2019 - -2023 and Forecast 2024 - -2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.4.1.United States of America (USA) |
| 9.4.2.Canada |
| 10.Europe Wood Coatings Market ,2019 - -2023 and Forecast 2024 - -2030 (Sales Value USD Million) |
| 10.1. Resin Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Polyurethane |
| 10.1.2.Acrylics |
| 10.1.3.Nitrocellulose |
| 10.1.4.Unsaturated Polyester |
| 10.1.5.Others |
| 10.2. Technology Analysis 2019 - -2023 and Forecast 2024 - -2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Waterborne |
| 10.2.2.Conventional Solid Solvent Borne |
| 10.2.3.High Solid Solvent Borne |
| 10.2.4.Powder Coating |
| 10.2.5.Radiation Cured |
| 10.2.6.Others |
| 10.3. End User Analysis 2019 - -2023 and Forecast 2024 - -2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.Furniture |
| 10.3.2.Joinery |
| 10.3.3.Flooring |
| 10.3.4.Others |
| 10.4. Country Analysis 2019 - -2023 and Forecast 2024 - -2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1.Germany |
| 10.4.2.France |
| 10.4.3.Italy |
| 10.4.4.United Kingdom (UK) |
| 10.4.5.Spain |
| 10.4.6.Rest of EU |
| 11.Asia Pacific (APAC) Wood Coatings Market ,2019 - -2023 and Forecast 2024 - -2030 (Sales Value USD Million) |
| 11.1. Resin Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Polyurethane |
| 11.1.2.Acrylics |
| 11.1.3.Nitrocellulose |
| 11.1.4.Unsaturated Polyester |
| 11.1.5.Others |
| 11.2. Technology Analysis 2019 - -2023 and Forecast 2024 - -2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Waterborne |
| 11.2.2.Conventional Solid Solvent Borne |
| 11.2.3.High Solid Solvent Borne |
| 11.2.4.Powder Coating |
| 11.2.5.Radiation Cured |
| 11.2.6.Others |
| 11.3. End User Analysis 2019 - -2023 and Forecast 2024 - -2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.Furniture |
| 11.3.2.Joinery |
| 11.3.3.Flooring |
| 11.3.4.Others |
| 11.4. Country Analysis 2019 - -2023 and Forecast 2024 - -2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1.China |
| 11.4.2.India |
| 11.4.3.Australia and New Zealand (ANZ) |
| 11.4.4.Japan |
| 11.4.5.Rest of APAC |
| 12.Middle East and Africa (MEA) Wood Coatings Market ,2019 - -2023 and Forecast 2024 - -2030 (Sales Value USD Million) |
| 12.1. Resin Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Polyurethane |
| 12.1.2.Acrylics |
| 12.1.3.Nitrocellulose |
| 12.1.4.Unsaturated Polyester |
| 12.1.5.Others |
| 12.2. Technology Analysis 2019 - -2023 and Forecast 2024 - -2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Waterborne |
| 12.2.2.Conventional Solid Solvent Borne |
| 12.2.3.High Solid Solvent Borne |
| 12.2.4.Powder Coating |
| 12.2.5.Radiation Cured |
| 12.2.6.Others |
| 12.3. End User Analysis 2019 - -2023 and Forecast 2024 - -2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Furniture |
| 12.3.2.Joinery |
| 12.3.3.Flooring |
| 12.3.4.Others |
| 12.4. Country Analysis 2019 - -2023 and Forecast 2024 - -2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1.GCC Countries |
| 12.4.2.South Africa |
| 12.4.3.Rest of MEA |
| 13.Latin America Wood Coatings Market ,2019 - -2023 and Forecast 2024 - -2030 (Sales Value USD Million) |
| 13.1. Resin Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1.Polyurethane |
| 13.1.2.Acrylics |
| 13.1.3.Nitrocellulose |
| 13.1.4.Unsaturated Polyester |
| 13.1.5.Others |
| 13.2. Technology Analysis 2019 - -2023 and Forecast 2024 - -2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1.Waterborne |
| 13.2.2.Conventional Solid Solvent Borne |
| 13.2.3.High Solid Solvent Borne |
| 13.2.4.Powder Coating |
| 13.2.5.Radiation Cured |
| 13.2.6.Others |
| 13.3. End User Analysis 2019 - -2023 and Forecast 2024 - -2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1.Furniture |
| 13.3.2.Joinery |
| 13.3.3.Flooring |
| 13.3.4.Others |
| 13.4. Country Analysis 2019 - -2023 and Forecast 2024 - -2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1.Brazil |
| 13.4.2.Mexico |
| 13.4.3.Rest of LA |
| 14. Competition Landscape |
| 14.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 14.2.1.Akzo Nobel N.V. |
| 14.2.2.DowDuPont |
| 14.2.3.BASF SE |
| 14.2.4.Axalta Coatings Systems |
| 14.2.5.Nippon Paints Holdings Co. Ltd. |
| 14.2.6.RPM International Inc. |
| 14.2.7.Sherwin Williams Company |
| 14.2.8.Kansai Paint Co., Ltd. |
| 14.2.9.PPG Industries Inc. |
| 14.2.10.Eastman Chemical Company |
| 14.2.11.Arkema SA |
| 14.2.12.Ashland Inc. |
| 14.2.13.Hempel A/S |
| 15. Research Methodology |
| 16. Appendix and Abbreviations |
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.