- Polyurethane
- Acrylics
- Nitrocellulose
- Unsaturated Polyester
- Others
Wood Coatings Market size was valued at USD7,934.6 Mn in 2022 and is growing at a significant CAGR of 5.9% from 2023-2029. 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.
Wood Coatings Market Summary
Study Period
2024-2030
Base Year
2023
CAGR
6.1%
Largest Market
Asia Pacific
Fastest Growing Market
Europe
Wood Coatings Market Drivers And Restraints
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 wood coatings market.
Asia Pacific Got Significant Share
Wood Coatings 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
Key Features of the Reports
- The report provides granular level information about the market size, regional market share, historic market and forecast.
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
Wood Coatings Market Segmentation
By Resin Type
By Technology
- Waterborne
- Conventional Solid Solvent Borne
- High Solid Solvent Borne
- Powder Coating
- Radiation Cured
- Others
By End User
- Furniture
- Joinery
- Flooring
- Others
Frequently Asked Questions
The wood coatings market is projected to expand at a CAGR of 6.1% during the forecast period.
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, 2018-2022 and Forecast 2023-2029 |
| 4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (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, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 5.1. Polyurethane |
| 5.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (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, 2018-2022 and Forecast, 2023-2029, (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, 2018-2022 and Forecast, 2023-2029, (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, 2018-2022 and Forecast, 2023-2029, (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, 2018-2022 and Forecast, 2023-2029, (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, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 6.1. Waterborne |
| 6.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (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, 2018-2022 and Forecast, 2023-2029, (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, 2018-2022 and Forecast, 2023-2029, (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, 2018-2022 and Forecast, 2023-2029, (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, 2018-2022 and Forecast, 2023-2029, (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, 2018-2022 and Forecast, 2023-2029, (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, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 7.1. Furniture |
| 7.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (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, 2018-2022 and Forecast, 2023-2029, (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, 2018-2022 and Forecast, 2023-2029, (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, 2018-2022 and Forecast, 2023-2029, (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, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (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, 2018-2022 and Forecast, 2023-2029, (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, 2018-2022 and Forecast, 2023-2029, (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, 2018-2022 and Forecast, 2023-2029, (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, 2018-2022 and Forecast, 2023-2029, (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 ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 9.1. Resin Type Analysis 2018-2022 and Forecast 2023-2029 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 2018-2022 and Forecast 2023-2029 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 2018-2022 and Forecast 2023-2029 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 2018-2022 and Forecast 2023-2029 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 ,2018-2022 and Forecast 2023-2029 (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 2018-2022 and Forecast 2023-2029 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 2018-2022 and Forecast 2023-2029 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 2018-2022 and Forecast 2023-2029 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 ,2018-2022 and Forecast 2023-2029 (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 2018-2022 and Forecast 2023-2029 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 2018-2022 and Forecast 2023-2029 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 2018-2022 and Forecast 2023-2029 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 ,2018-2022 and Forecast 2023-2029 (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 2018-2022 and Forecast 2023-2029 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 2018-2022 and Forecast 2023-2029 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 2018-2022 and Forecast 2023-2029 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 ,2018-2022 and Forecast 2023-2029 (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 2018-2022 and Forecast 2023-2029 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 2018-2022 and Forecast 2023-2029 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 2018-2022 and Forecast 2023-2029 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 |
- Akzo Nobel N.V.
- DowDuPont
- BASF SE
- Axalta Coatings Systems
- Nippon Paints Holdings Co. Ltd.
- RPM International Inc.
- Sherwin Williams Company
- Kansai Paint Co., Ltd.
- PPG Industries Inc.
- Eastman Chemical Company
- Arkema SA
- Ashland Inc.
- Hempel A/S