Wood Coatings Market - Growth, Trends, and Forecast (2019 - 2024)

The market is segmented by Resin Type (Acrylic, Nitrocellulose, Polyester, Polyurethane, and Other Resin Types), Technology (Water-borne, Solvent-borne, and UV-cured), Application (Furniture and Fixture, Doors and Windows, Cabinet, and Other Applications), and Geography.

Market Snapshot

Wood Coatings Ma
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

Key Players:

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Market Overview

The market for wood coatings is likely to register a CAGR of 5.04% during the forecast period (2019-2024). One of the major factors driving the market studied is the growing production of furniture across the world. The growing construction industry in Asia-Pacific, and Middle East & Africa is also likely to boost the market growth.

  • The polyurethane segment dominated the market in 2018, and is expected to grow during the forecast period, owing to the increasing applications of polyurethane coatings across several sectors, including commercial, architectural, and structural work, paneling, furniture, etc.
  • Stringent environmental regulations may restain the demand for wood coatings, during the forecast period.
  • There is a huge potential market for water-based coatings in developing countries, owing to the increasing awareness toward eco-friendly products. This is likely to act as an opportunity for the market, in the future.
  • Asia-Pacific dominated the wood coatings market across the world, in 2018, and is expected to continue dominating the market during the forecast period, owing to the major growth of construction activities in countries, like India.

Scope of the Report

The wood coatings market report includes:

Resin Type
Acrylic
Nitrocellulose
Polyester
Polyurethane
Other Resin Types
Technology
Water-borne
Solven-borne
UV-cured
Application
Furniture and Fixtures
Doors and Windows
Cabinet
Other Applications
Geography
Asia-Pacific
China
India
Indonesia
Japan
Malaysia
South Korea
Thailand
Australia & New Zealand
Vietnam
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Rest of the North America
Europe
Germany
France
Russia
United Kingdom
Italy
Spain
BENELUX
NORDIC Countries
Rest of the Europe
South America
Brazil
Argentina
Chile
Coloumbia
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Nigeria
United Arab Emirates
Rest of Middle East & Africa

Report scope can be customized per your requirements. Click here.

Key Market Trends

Growing Furniture Production Worldwide is Driving the Market Growth

  • With increasing housing construction, population, and income-levels across the world, the demand for furnitures, such as chairs, table, bed, sofa, shelves, and cupboard, has been increasing significantly.
  • Moreover, with the rapidly growing service sector, a huge proportion of the population has been relocating to new locations, which is driving the trend of hostels, co-living, guest houses, and official premises. This is expected to augment the demand for various furniture products.
  • In the furniture industry, concepts related to interiors of homes, offices, and flats are changing continuously. This is driving innovation and development, primarily in terms of designs, size, and colors, which is expected to augment the production volume of furniture across the world.
  • In the furniture industry, wood coatings are extensively used. Thus, the increasing production volume of furniture across the world is augmenting the growth of the market studied.
Wood Coatings Ma

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Asia-Pacific Region to Dominate the Market

The Asia-Pacific region dominated the global market share in 2018. China has the largest furniture sector across the world, which is thriving, owing to the increasing domestic and foreign demand. In India, both the furniture and construction sectors have been witnessing major growth in the recent times. Some of the key factors that are boosting this growth include the increasing investment in the residential and commercial sector and government initiatives, like "Housing for All". The entry of major furniture companies, like IKEA, is also expected to boost the furniture industry growth. Additionally, there has been a major growth in the public and private investments in the construction sectors of ASEAN countries, in the recent times. These factors are likely to help the Asia-Pacific region to dominate the market, during the forecast period.

Regional Growth Rate - Wood Coatings Market

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Competitive Landscape

The wood coatings market is consolidated, with the top three players accounting for nearly 70% of the entire revenue share. The top three companies in the market are the Sherwin-Williams Company, AkzoNobel NV, and PPG Industries.

Major Players

  1. Sherwin Williams Company
  2. AkzoNobel NV
  3. PPG Industries

* Complete list of players covered available in the table of contents below

Market Concentration - Wood Coatings Market

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Furniture Production

      2. 4.1.2 Growing Construction Industry, Majorly in Asia-Pacific, and Middle East & Africa

    2. 4.2 Restraints

      1. 4.2.1 Stringent Environmental Regulations

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porters Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Resin Type

      1. 5.1.1 Acrylic

      2. 5.1.2 Nitrocellulose

      3. 5.1.3 Polyester

      4. 5.1.4 Polyurethane

      5. 5.1.5 Other Resin Types

    2. 5.2 Technology

      1. 5.2.1 Water-borne

      2. 5.2.2 Solven-borne

      3. 5.2.3 UV-cured

    3. 5.3 Application

      1. 5.3.1 Furniture and Fixtures

      2. 5.3.2 Doors and Windows

      3. 5.3.3 Cabinet

      4. 5.3.4 Other Applications

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Indonesia

        4. 5.4.1.4 Japan

        5. 5.4.1.5 Malaysia

        6. 5.4.1.6 South Korea

        7. 5.4.1.7 Thailand

        8. 5.4.1.8 Australia & New Zealand

        9. 5.4.1.9 Vietnam

        10. 5.4.1.10 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

        4. 5.4.2.4 Rest of the North America

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 France

        3. 5.4.3.3 Russia

        4. 5.4.3.4 United Kingdom

        5. 5.4.3.5 Italy

        6. 5.4.3.6 Spain

        7. 5.4.3.7 BENELUX

        8. 5.4.3.8 NORDIC Countries

        9. 5.4.3.9 Rest of the Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Chile

        4. 5.4.4.4 Coloumbia

        5. 5.4.4.5 Rest of South America

      5. 5.4.5 Middle East & Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Nigeria

        4. 5.4.5.4 United Arab Emirates

        5. 5.4.5.5 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Akzo Nobel NV

      2. 6.4.2 Benjamin Moore & Co. Inc.

      3. 6.4.3 Diamond Vogel Paint Company

      4. 6.4.4 DowDuPont Inc.

      5. 6.4.5 Drywood Coatings BV

      6. 6.4.6 Helios Coatings GmbH

      7. 6.4.7 ICA Group

      8. 6.4.8 IVM Chemicals srl

      9. 6.4.9 Kansai Paint Co. Ltd

      10. 6.4.10 KAPCI Coatings Co.

      11. 6.4.11 Kelly-Moore Paint Company Inc.

      12. 6.4.12 Minwax Company

      13. 6.4.13 Nippon Paint Co. Ltd

      14. 6.4.14 NTC Nano Tech Coatings GmbH

      15. 6.4.15 PPG Industries Inc.

      16. 6.4.16 Renner Sayerlack SA

      17. 6.4.17 RPM International Inc.

      18. 6.4.18 Sherwin-Williams Company

      19. 6.4.19 Sirca SpA

      20. 6.4.20 Sniezka SA

      21. 6.4.21 Teknos Group Oy

      22. 6.4.22 Vermont Natural Coatings Inc.

      23. 6.4.23 Weilburger Coatings GmbH

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Increasing Demand for UV-cured Coatings Production of Paraquet Flooring in Europe

    2. 7.2 Shift toward Water-borne Coatings

**Subject to Availability

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