Wood Coatings Market Research Report - Forecast till 2030

Wood Coatings Market Research Report: Information By Type (Stains & Varnishes, Shellac Coatings, Wood Preservatives, Water Repellants and others), By Technology (Solvent-Based, Water-Based, High Solids and UV Curing), By Resin (Polyurethane, Nitrocellulose, Acrylic, Polyester and others), By Application (Furniture, Cabinets, Sidings, Decking & Flooring and others), By End-Use (Residential and Non-Residential) - Forecast till 2030

ID: MRFR/CnM/1088-CR | August 2019 | Region: Global | 292 Pages         

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Wood Coatings Market

Wood Coatings Market is projected to be worth USD 12,885.8 Million by 2030, registering a CAGR of 5.35% during the forecast period (2022 - 2030).

By Type Stains & Varnishes Shellac Coatings Wood Preservatives Water Repellants
By Technology Solvent-Based Water-Based High Solids UV Curing
By Resin Polyurethane Nitrocellulose Acrylic Polyester
By Application Furniture Cabinets Sidings Decking & Flooring
By End-Use Residential Non-Residential
Key Players
Companies Profiled   The Sherwin-Williams Company   AKZO NOBEL N.V   RPM International Inc   Axalta Coating Systems   PPG Industries Inc   BASF SE   Nippon Paint Holdings Co. Ltd   Eastman Chemical Company   DowDuPont INC
Market Driving Forces    Emergence of New Technologies in Wood Coating to Boost the Market
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Wood Coating Market Overview

The Wood Coating Market is projected to expand at a CAGR of 5.35% by 2030.

The wood coating is a product that is used for protecting wood and its structures. Through the coating life of the product is increased. Appearance and wood quality are enhanced through these coatings. Marketing the woods that are coated is more effortless.

In many regions, people prefer woods that come with coatings and shine. The wood coating acts as an enable for the wood that protects it from potential damages. Due to these preferences by end-users the wood coatings market is witnessing a constant surge. There are plenty of varieties in the wood coatings. Solid solvent coating, powder coating, radiation coating and radiation-cured coating are some of the common types. The water resistance, quick-drying capacity and durability are some of the features of these coating. Solid solvent capabilities are beneficial for the wood making industry.

High produce life increases the overall revenue of this market. The demand from the residential and non-residential sectors is higher. The residential sector has a high need for quality wood furniture. Non-residential sectors such as commercial spaces have high requirements for wood coatings. The non-residential sector is estimated to contribute more to the market growth. All these factors are expected to increase wood coatings market value immensely. 

Covid analysis  

The outbreak of the covid 19 pandemic is damaging too many global markets. There are plenty of difficulties for industries. The low demand is a major challenge in this period. The user end has less need for various products and services. Supply chain disruptions are massively hindering growth. Wood coatings market witnesses unfavourable scenario.

These unfavourable conditions decline the overall demand and supply of the market. In this period, wood coatings processes are slowing down. Wood coating market operations are slowing down. Due to the rapid spread of the virus, many wood coating facilities are shut down. The demand for the user end is significantly low for the market. All these factors will impact the revenue rates. Post covid 19 scenario of the market seems positive. There are plenty of growth possibilities in upcoming years. The need for wood coatings in residences and commercial spaces will rise. 

Market dynamics 

  • Crucial market drivers 

The rising construction and renovations activities are major drivers of the market. Wood is essential in many new constructions. These woods require coatings for extra protection. Due to this, the need for wood coating is rising in recent years. The rise in new constructions may lead to the high profitability of the market. Further, rising disposable income will bring favourable changes in the market. The developing regions witness rising disposable incomes that leads to more investment in wood coatings.

Emerging markets such as China and India have massive investments in wood furniture. The need for wood coatings is rising in emerging markets due to these reasons. Furthermore, the increase in furniture production in many regions is leading to high growth. The need for furniture is high in both residential and non-residential segments.

Also, the facilities to produce wood furniture are high in the Asia Pacific region. These factors are crucial drivers of the wood coatings market. Chairs, tables, beds, sofas, cupboards made of wood are preferred by end-users. The long life and durability of this furniture are key features of this product. All these factors will spark the overall wood coatings market growth.

  • The market growth opportunities 

Demand from the developing nations will lead to high market growth opportunities. Emerging economies have a greater need for wood coatings. In upcoming years, the need for wood coating is high in the constructions industry. Especially, Asia Pacific, Europe and the Middle East have a high rate of construction. Urbanization is leading to new constructions. These new buildings require woodwork. It is raising the need for the wood coatings market.

Wood floors, wood cabinets and other wood products will require a high amount of coating materials. Due to harsh climatic conditions in this region, the need for wood coating sustains the product life. These factors will have a significant impact on the revenue rates of the market.

Further, innovation and product launches are other factors contributing to growth. The new wood coating materials will have a higher demand for these end-users. Radiation coatings will witness new developments in upcoming years. The wood coatings that are radiation cured are helpful in regions that have no sunlight. Even in areas, there is no heat can use radiation-cured coatings for quick drying purposes. All these factors are leading to promising growth in upcoming years. 

  • The market restraints 

Stringent governmental rules remain a restraining factor of this market. Few of the wood coatings emit VOC solvents. These solvents are harmful to the environment. The wood coatings for smaller purposes do not have any harm. However, the coatings for large scale purposes can lead to high VOC solvents emissions.

The environmental harms of this product are leading to high governmental regulations. The production and usage of coating are restricted in many regions. Due to this adoption rate is declining. Also, delayed demand and a decrease in profits are some of the restraints of this market. 

  • The market challenges 

The market conditions are unfavourable due to covid 19. The effects of this pandemic can extent in upcoming years. The wood coating market is taking longer to recover. The delayed recovery process acts as a challenge for the market. Since 2021, there is a gradual increase in market operations. However, the demand rate is moderate in upcoming years.

These factors are challenges that hinder the market growth. Further, lack of product awareness is another resistance on the market. The knowledge about wood coating is less in some regions. This can hamper the growth of this market. Less awareness can cause less adoption of wood coatings Industry.

  • The cumulative growth analysis 

The wood coatings market trends is moderate. There are a few factors that stir demand. VOC wood coatings are witnessing high demand in recent years. The low cost of this product is attracting many end users. Further, rising construction and renovations across the globe are drivers of the market. This ongoing trend will lead to massive profits in the forecast period.

Furthermore, the need for wood coating is high among furniture manufactures. The rise in production is leading to high growth in this market. However, stringent governmental rules are challenges. Still, overall growth is substantial due to market growth opportunities. 

  • Value chain analysis 

The Asia Pacific holds the highest wood coatings market shares. The flooring, furniture, flooring and application sectors of the market have high demand. Solvents, scratch resistance, resilience to UV lights and surface finish are advantageous of the wood coatings. Quick-drying, multi-coat finish, superior sanding and resilience are some of the features of these wood coatings.

Many buildings contain cabinets and doors that require wood coatings. Lower VOC is leading to higher demand. Further, Asia Pacific is a region that has high technological developments in upcoming years. Waterborne resins and core-shell technologies are some of the factors that will improve. All these factors will make Asia pacific the top regional player in the market. 

Segment overview 

By resin type 

  • Polyutherane 

  • Acrylic 

  • Polyester 

  • Nitrocellulose 

By technology 

  • Waterborne 

  • UV cured 

  • Solvent-Borne 

By application 

  • Cabinets 

  • Furniture and fixtures 

  • Windows and doors 

By geography 

  • Asia pacific 

  • Europe 

  • North America 

  • South America 

  • The Middle East and Africa 

Competitive landscape 

The competition in the wood coatings market is stable in the forecast period. There are plenty of developments in the market during the forecast period. Market expansions, mergers, collaborations and partnerships are key strategies in the competitive landscape. The competition is severe in upcoming years in many regions. 

Regional analysis 

The wood coatings market is fragmented into Asia Pacific, Europe, North America and the Middle East and Africa. The Asia Pacific is a leading region with high wood coatings market share. There are plenty of growth factors in this region. The need for wood coatings is high in the construction industry. The furniture market is another region with a high requirement for wood coatings. The surging renovations in this market are bringing new developments in this market.

Furthermore, Europe is another with high demand for wood coatings. The investments in this region are surging constantly. Also, North America is an early adopter of the wood coatings market. The presence of key leaders plays a vital role to increase demand. All these factors are responsible for the high profitability of the wood coatings market. 

The key players in the wood coatings market are 

  • The Sherwin-Williams Company


  • RPM International Inc

  • Axalta Coating Systems

  • PPG Industries Inc


  • Nippon Paint Holdings Co., Ltd

  • Eastman Chemical Company

  • DowDuPont INC

Industry News

November 2020 - Affix Labs, a Finland-based chemical tech start-up, has launched its surface cleaning product, Clean N Coat. It can be applied to furniture, woods, which gives an anti-microbial coating and provides protection. It is also eco-friendly.October 2021- Michelman launched a line of bio-based surface modifiers named NatureShieldm, which enable formulators to produce coatings with an enhanced number of bio-sourced materials devoid of endangering their quality. The product includes several environmentally friendly natural oil blends, dispersions, and emulsions engineered to improve the weatherability for exterior surface coatings by offering water bead and water resistance to wood and concrete. When used as a substitute for synthetic surface modifiers in superior quality coatings, this bio-based technology demonstrates enhanced or comparable abrasion resistance, superior matting, and improved scratch resistance. Additionally, these surface modifiers consist of substantial levels of sustainable materials offering performance properties, which exceed or meet the standard set by synthetic products in the market.May 2021- Sikkens Wood Coatings announced the launch of its next generation of CETOL. The organization said it provides the latest and multipurpose exterior translucent system with a refined product range, offering an even better choice for players in wooden joinery, construction, and cladding. The CETOL WF 98xx gleaming range of waterborne single-pack overcoats for wooden doors, claddings, and windows offer brilliant application properties, high durability, and transparency. The latest CETOL WF 98xx range is an element of AkzoNobel’s global weathering program.

Report overview 

  • Market overview highlights 

  • Analysis based upon COVID 19

  • Explanation upon the Market Dynamics

  • Value chain analysis

  • Market segmentation overview

  • The regional analysis

  • Competitive landscape analysis

  • Recent Developments

  • Report Scope:

    Report Attribute/Metric Details
      Market Size   2030: Significant value
      CAGR   5.35%(2021–2030)
      Base Year   2021
      Forecast Period   2021 to 2030
      Historical Data   2019 & 2020
      Forecast Units   Value (USD Million)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   By Type, Technology, Resin, Application and Region
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   Sherwin-Williams Company (U.S.), Akzo Nobel N.V. (Netherlands), PPG Industries Inc. (U.S.), Joton (Norway), Kansai Nerolac Paints Limited (India), Hempel A/S (Denmark), Arkema S.A. (France), DowDuPont Inc. (U.S.), RPM International Inc. (U.S.), Axalta Coating Systems Ltd (U.S.), Nippon Paint Holdings Co. Ltd (Japan), Asian Paints (India), Berger Paints India Limited (India)
      Key Market Opportunities   Growing Dependence of Furniture Industry on Coatings
      Key Market Drivers   Emergence of New Technologies in Wood Coating to Boost the Market

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    Frequently Asked Questions (FAQ) :

    The global wood coatings market was valued at more than USD 9.5 billion in 2018.

    The global wood coatings market is expected to exhibit a strong 5.85% CAGR over the forecast period from 2021-2030.

    The growing residential construction industry has driven the demand for furniture and other wooden fittings. This is likely to remain the major driver for the wood coatings market over the forecast period.

    Solvent-based wood coatings are the dominant type of wood coatings. Water-based wood coatings are also likely to rise in demand over the forecast period.

    Polyurethane is the leading resin type in the wood coatings market.