Demand For Wood Coatings Is Expected To Maintain Pace During 2022-2032

Resurgence in residential construction activities and continuance in maintenance work for wood finishing and furniture will propel the wood coatings market to reach a value pool of near US$ 17 Bn by the end of the forecast period (2019-2027).

Further, demand for new coatings in construction-related applications will be the primary factor accelerating market growth through 2027. Wood coatings will achieve significant value gains in interior wood applications such as wooden cabinets and wooden flooring. Water-based coatings account for a majority share in the global wood coating market. Concerns around the release of volatile organic compounds has led to a gradual shift toward water-based coating in applications such as furniture, decking and sliding. On this premise, the global wood coatings market is projected to grow at a CAGR of over 6%

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Key Takeaways of Wood Coatings Market Study
The trend of water-based coatings is significant in the North American wood coatings market. The increasing awareness among consumers about the usage of eco-friendly coating products is prevailing. Also, UV wood coatings are being used for industrial applications, owing to their fast curing and high production efficiency
China is currently leading the wood coatings market in the Asia Pacific region. The prime factor for growth lies in its openness to take in new entrants and investors to set up plants and factories there
A shift in consumer preferences for the adoption of eco-friendly coatings aids in driving the market of water-based coatings
Furniture segment will witness significant demand gains through 2027, and will see a growth over 6% per annum by end of forecast period
East Asia to maintain hegemony in the global wood coating market with more than one fourth share owing to increasing construction activities and growth in household maintenance activities
“New housing and increasing maintenance activities will continue to support wood coatings market gains. Formulators have found success with high-performing products such as water-based acrylic coatings for interiors and exterior applications” says the Fact.MR analyst

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Key Segments

Product Type

Water-borne Wood Coatings
Solvent-borne Wood Coatings
Powder Wood Coatings
Coating Type
Preservative Wood Coatings
Stain Wood Coatings
Shellac Wood Coatings
Other Wood Coatings (Oil, Wax, etc.)

End Use

Wood Coatings for Furniture
Wood Coatings for Construction
Wood Coatings for Marine Applications
Wood Coatings for Other End Uses

Sales Channel

Wood Coatings Sales via Institutional Channels
Wood Coatings Sales via Retail Channels
Wood Coatings Sales via Online Channels
Wood Coatings Sales via Home Improvement
Stores
Wood Coatings Sales via Hardware Stores
Wood Coatings Sales via Franchised Paints & Coating Stores

Manufacturers Leveraging Sustainable & Eco-Friendly Coatings for Increasing Sales

The global wood coatings market is consolidated in nature. Wood coating manufacturers and woodworking manufacturers work closely to cater to the increasing demand for protective coatings from end-users, such as construction, furniture, etc. Wood products manufacturers are now moving to high-performance water-based coatings with a range of curing processes under pressure to reduce pollution and meet shortened lead times. Companies can capitalize on opportunities in Asia Pacific by offering cost-effective and high solids type of wood coatings.

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Find More Valuable Insights on the Market

Fact.MR, in its new offering, provides an unbiased analysis of the global market for wood coatings, with historical data on demand (2013-2018) and expected projections for the period 2019-2027. The report discloses compelling insights into the demand for wood coatings on product type (Water-based, Solvent-based, and Powder) coating type (Preservatives, Stains, Varnishes, Shellacs, Others (Oil, Wax, etc.)) end use (Furniture, Construction, Marine, and others) and sales channel (Institutional Sales, Retail Sales, Online Channels, Home Improvement Stores, Hardware Stores, and Franchised Paints & Coating Stores), across several major regions.

Essential Takeaways from the Wood Coatings Market Report

Comparison of prominent players operating in the Wood Coatings Market.
Recent developments and key strategies adopted by market players.
Study of the micro and macro-economic growth indicators.
Impact of the various factors on the value chain of the Wood Coatings Market.

Growth opportunities for emerging market players in various regional markets.
Current trends influencing the scenario of the Wood Coatings Market.
Important queries related to the Wood Coatings Market addressed in the report:
Who are the most prominent players in the Wood Coatings Market?

What are the factors that are likely to hinder the growth of the Wood Coatings Market during the forecast period (2022-2032)?

Why is the concentration of tier-1 companies high in specific region?
How are the soaring prices of raw materials impacting the demand for keyword?
Why are market players eyeing opportunities in particular region?

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