Wood Coating Market

Market Overview:

The global wood coating market size reached US$ 9.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 13.9 Billion by 2028, exhibiting a growth rate (CAGR) of 5.89% during 2023-2028.

Wood coating is used to protect, refine, and refurnish structures made using wood. It includes filler, sealer, groove coat, primer, stain, basecoats, ink, and mixtures, such as methyl ethyl ketone, methyl isobutyl ketone, naphtha, and glycol ethers. It helps safeguard wooden doors, fences, boards, frameworks, garden and street furniture, furnishing accessories, and traditional flooring from environmental factors, such as moisture, scratches, and dirt. Wood coating helps in sealing pores that can be breeding grounds for pathogens, such as bacteria, viruses, and fungi. As a result, the demand for wood coating is significantly increasing across residential and commercial sectors.

Wood Coating Market Trends:

Rapid urbanization, inflating income levels, and improving standards of living are driving the demand for wooden furniture for numerous purposes, such as sleeping, dining, seating, decoration, and storage. In addition, the growing global population and rising construction, remodeling, and renovation activities in residential places are creating a positive outlook for the market. Significant growth in the real estate, travel and tourism, and hospitality sectors, along with the increasing number of hotels, restaurants, hospitals, shopping malls, and other commercial spaces, is also catalyzing the demand for wooden furniture and decorative items with premium finishing. This, coupled with the expansion of public and private organizations and the emerging trend of relocating to new locations, hostels, co-living, guest houses, and official premises, is bolstering the market growth. Furthermore, the easy availability of wood crafts and coating products across offline and online shopping platforms is strengthening the market growth. Moreover, leading market players are focusing on introducing water-based and eco-friendly wood coatings, which is expected to drive the market in the coming years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global wood coating market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on coating type, resin type, formulating technology and application.

Breakup by Coating Type:

• Stains and Varnishes
• Shellac Coating
• Wood Preservatives
• Water Repellents
• Others
   

Breakup by Resin Type:

• Acrylic
• Nitrocellulose
• Polyester
• Polyurethane
• Others
   

Breakup by Formulating Technology:

• Solvent-Borne
• Water-Borne
• UV-Cured
• Others
   

Breakup by Application:

• Furniture
• Cabinets
• Siding
• Flooring
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Akzo Nobel N.V., Axalta Coating Systems Ltd., BASF SE, Brillux GmbH & Company KG, Diamond Vogel Paint Company, Eastman Chemical Company, IVM S.R.L., Kansai Nerolac Paints Limited (Kansai Paint Co. Ltd.), Nippon Paint (India) Private Limited, PPG Industries Inc., RPM International Inc., Sirca Paints India Limited, Stahl Holdings B.V., Teknos Group Oy and Valspar Corporation (Sherwin-Williams Company). Kindly, note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global wood coating market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global wood coating market?
• What are the key regional markets?
• What is the breakup of the market based on the coating type?
• What is the breakup of the market based on the resin type?
• What is the breakup of the market based on the formulating technology?
• What is the breakup of the market based on the application?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global wood coating market and who are the key players?
• What is the degree of competition in the industry?
   

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the wood coating market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global wood coating market.
• The study maps the leading as well as the fastest growing regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the wood coating industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and  provides an insight into the current positions of key players in the market.