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Wood Coatings Market Research Report Information By Technology (Waterborne, Conventional Solid Solvent Borne, High Solid Solvent Borne, Powder Coating, Radiation Cured, Others), By Resin (Polyurethane, Nitrocellulose, Acrylic, Polyester, Others), By Application (Furniture, Cabinets, Sidings, Decking & Flooring), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030


ID: MRFR/CnM/1088-CR | 292 Pages | Author: Priya Nagrale| March 2023

Global Wood Coatings Market Overview


The Wood Coatings Market Size was valued at USD 10.03 Billion in 2022. The Wood coating industry is projected to grow from USD 10.49 Billion in 2023 to USD 13.69 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 3.98% during the forecast period (2024 - 2030). Wood coatings are materials applied to the surface of the wood to protect, enhance, or change its appearance. Wood coatings can include paints, stains, varnishes, lacquers, and other finishes that provide different levels of protection, durability, and aesthetic appeal. These coatings can be used on a variety of wood surfaces, including furniture, floors, cabinets, doors, and exterior structures. They can also be used to highlight the natural beauty of the wood or to create a particular look or style, such as a rustic or modern finish. Overall, wood coatings are an important aspect of maintaining and improving the appearance and longevity of wood surfaces.Wood Coatings Market OverviewSource: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Wood Coatings Market Trends




  • Developing the Housing Sector to Support Market Growth




The increase in demand for furniture such as chairs, tables, beds, and shelves is a result of the world population expanding and the housing market stabilizing, all of which have contributed to the rise of the entire wood coating industry. The growth of the coatings sector is directly related to the expansion of the housing market. Timber is frequently used in the construction of American homes, from the exterior siding, roofing, and fences to the inside cabinets, furniture, and flooring. New construction and home renovations are the main sources of development. The housing industry, for example, is anticipated to be strongly impacted by a economic boom and increased purchasing power. Due to the growth of their key end users, industries in the construction sector have expanded. Industries including wood coatings would benefit from the expansion of the construction sector as a result of the growth of its key end consumers. The market for kitchen cabinets is the one that is anticipated to have the biggest growth. Expenditure on home remodeling and renovation is on the rise. A large portion of this house makeover is the kitchen. The primary markets for kitchen cabinets will likely continue to grow as a result of this growth. Housing sectors are crucial for the wood products industry because new single-family houses consume more value-added wood products than any other wood-using industry. This coating is used to shield indoor and exterior furniture, doors, and other things from environmental factors including water, UV rays from the sun, contaminants, and others improve the appearance of the coating.


Wood Coatings Market Segment Insights


Wood Coatings Technology Insights


The market segmentation, based on Technology, includes Waterborne, Conventional Solid Solvent Borne, High Solid Solvent Borne, Powder Coating, Radiation Cured, and Others. The Waterborne segment holds the majority share in 2022, contributing to the Wood Coatings revenue. Waterborne coatings are coatings that use water as the main solvent instead of organic solvents. They are environmentally friendly, easy to apply, and offer good adhesion, durability, and chemical resistance. Waterborne coatings are widely used in the wood industry for applications such as furniture, flooring, decking, and siding.


Wood Coatings Resin Insights


Based on Resin, the market segmentation includes Polyurethane, Nitrocellulose, Acrylic, Polyester, and Others. The Polyurethane segment dominated the market. One-component polyurethane and two-component polyurethane are the two classifications. In terms of surface hardness, chemical tolerance, and mechanical resistance, polyurethane finishing gives wood surfaces a unique finish that is unrivalled. These characteristics make them the most often used wood treatments. To achieve higher resilience, polyurethane parquet coatings may be used.


Wood Coatings Application Insights


Based on Application, the market segmentation includes ​Furniture, Cabinets, Sidings, Decking & Flooring. The Furniture segment is the largest segment of the market. To ensure that the qualities and features of solid wood materials are effectively maintained, furniture can also improve its aesthetic texture appeal and stop sawdust from scratching customers' hands, protecting their health. The stability of wood is significantly influenced by the moisture content.


Figure 2: Wood Coatings Market, by Technology, 2022 & 2030 (USD Million)Wood Coatings Market, by TechnologySource: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Wood Coatings Regional Insights


By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia Pacific is a leading region with a high 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 market. The presence of key leaders plays a vital role to increase demand. All these factors are responsible for the high profitability of the market.


Figure 3: WOOD COATINGS MARKET SHARE BY REGION 2022 (%)WOOD COATINGS MARKET SHARE BY REGIONSource: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Wood Coatings Key Market Players & Competitive Insights


Major market players are spending a lot of money on R&D to increase their product lines, which will help the market grow even more. Market participants are also taking various strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Wood Coatings industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.


Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Wood Coatings industry to benefit customers and expand the market sector. Major market players, including PPG Industries Inc, BASF, Nippon Paint Holdings Co Ltd, Eastman Chemical Company, DuPont INC, and others, are attempting to increase market demand by funding R&D initiatives.


PPG Industries is a paint, coatings, and specialty materials manufacturer and distributor. The company operates through two business segments: Industrial Coatings and Performance Coatings. It provides coatings and specialty materials to customers for a variety of end uses, including coatings for other industrial and consumer products along with coatings for industrial equipment and components, packaging, aircraft and marine equipment, original equipment for automobiles, automotive refinish, and pavement marking products. PPG Industries also provides new construction and maintenance services to commercial and residential clients by providing coatings to painters and other maintenance professionals and also directly to end users for home improvement.


Nippon Paint is a firm that manufactures paint products. Its goods include emulsion and enamel paint, a color design center, and ornamental, heavy-duty, architectural, wood, and metal coatings, a color design center. The firm serves architecture, heavy industry, and manufacturing.


Key Companies in the Wood Coatings market include




  • 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




  • DuPont INC




Wood Coatings Industry Development


November 2022: The Sherwin-Williams Company announced an agreement to acquire German-based Specialized Industrial Coatings Holding (SIC Holding), a Peter Möhrle Holding and GP Capital UG venture comprised of Oskar Nolte GmbH and Klumpp Coatings GmbH.


December 2022: AkzoNobel completed the acquisition of the wheel liquid coatings business of Lankwitzer Lackfabrik GmbH, a deal that strengthened the company’s performance coatings portfolio.


Wood Coatings Market Segmentation


Wood Coatings Technology Outlook




  • Waterborne




  • Conventional Solid Solvent Borne




  • High Solid Solvent Borne




  • Powder Coating




  • Radiation Cured




  • Others




Wood Coatings Resin Outlook




  • Polyurethane




  • Nitrocellulose




  • Acrylic




  • Polyester




  • Others




Wood Coatings Application Outlook




  • Furniture




  • Cabinets




  • Sidings




  • Decking & Flooring




Wood Coatings Regional Outlook




  • North America




    • US




    • Canada






  • Europe




    • Germany




    • France




    • UK




    • Italy




    • Spain




    • Rest of Europe






  • Asia-Pacific




    • China




    • Japan




    • India




    • Australia




    • South Korea




    • Australia




    • Rest of Asia-Pacific






  • Rest of the World




    • Middle East




    • Africa




    • Latin America





Report Attribute/Metric Details
Market Size 2022 USD 10.03 Billion
Market Size 2023 USD 10.49 Billion
Market Size 2030 USD 13.69 Billion
Compound Annual Growth Rate (CAGR) 3.98% (2024-2030)
Base Year 2022
Market Forecast Period 2024-2030
Historical Data 2018 & 2022
Market Forecast Units Value (USD Million)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Technology, Resin, Application, and Region
Geographies Covered North America, Europe, Asia Pacific, and Rest of the World
Countries Covered The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled The Sherwin-Williams Company, AKZO NOBEL N.V, RPM International Inc, Axalta Coating Systems, PPG Industries Inc, BASF, Nippon Paint Holdings Co Ltd, Eastman Chemical Company, DuPont INC
Key Market Opportunities Growing Dependence of the Furniture Industry on Coatings
Key Market Dynamics The emergence of New Technologies in Wood Coating to Boost the Market


Frequently Asked Questions (FAQ) :

The Wood Coatings market size was valued at USD 10.03 Billion in 2022.

The market is projected to grow at a CAGR of 3.98% during the forecast period, 2024-2030.

Asia Pacific had the largest share of the Wood Coatings market.

The key players in the market are The Sherwin-Williams Company, AKZO NOBEL N.V, RPM International Inc, Axalta Coating Systems, PPG Industries Inc, BASF, Nippon Paint Holdings Co Ltd, Eastman Chemical Company, DuPont INC.

The Waterborne category dominated the market in 2022.

The Furniture segment had the largest share of the market for Wood Coatings.

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