Global Wood Coatings Market Set For Rapid Growth, To Reach USD 14.49 Billion By 2032

Zion Market Research has published a new report titled “Wood Coatings Market By Technology (Spraying, Conventional Spray, High-Volume Low-Pressure, Electrostatic, Airless Spraying, Non-Spray Coatings, Rollers, Brushes, Vacuums, and Curtaining), By Resin Type (Acrylics, Polyurethane, Nitrocellulose, Melamine Formaldehyde, and Others), By Application (Cabinets, Side and Deck, Furniture, and Others), and By Region: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2024 – 2032”. According to the report, the global Wood Coatings market size was valued at approximately USD 9.13 billion in 2023 and is predicted to reach around USD 14.49 billion by the end of 2032, expanding at a CAGR of around 5.27% from 2024 to 2032.

Wood coatings are the process of protecting or refining a wooden surface, usually in the production of furniture. Small furniture, interior wood, panels, cupboards, tables, chairs, kitchen furniture, office furniture, doors and staircases among others are the wood coating applications. Coalescing, evaporative and reactive are the major three types of wood coatings. Siding, decking, and furniture are the three largest applications by value terms.

The global wood coating market is driven by various factors, such as huge demand for medium-density fireboard MDF (medium-density fibreboard) wood, huge demand from emerging economies, and increased awareness for eco-friendly products. However, this market has certain drawbacks, such as higher raw material prices and stringent government regulations. These factors may act as a roadblock to the wood coatings market growth. Increasing demand for low-VOC (volatile organic compound) wood coating products and the emergence of new product developments and technologies which is a major opportunities for the wood coating market.

On the basis of the type of resin, the global market is divided into acrylics, polyurethane, nitrocellulose and melamine formaldehyde. Polyurethane held the largest market share around 40% in 2023, because of its properties of scratch and humidity resistance and additionally its non-yellowing property and ability to retain light color. Acrylics held the second-largest share in the global wood coatings market in 2023, followed by melamine formaldehyde and others. Acrylic coatings are generally used for both artisanal and industrial cycles on different types of wooden products. Acrylics are mostly recommended for dyed open-pore or clear cycles to obtain the natural effect for wood or unfinished wood effect.

Based on the applications, the global wood coatings market is categorized into cabinets, decking and siding, furniture and others. Among all applications, furniture was the leader of the global market in 2023 followed by cabinets, side and deck and others. The furniture segment is the fastest-growing segment in the market. Wood coatings are mostly used in the exteriors and interiors of the furniture industry majorly because of the finishing it provides to the furniture products.

Asia Pacific held the largest share of the global wood coatings market in 2023. The key factor responsible for the market growth in the Asia Pacific region is the rise in disposable income and the increase in construction activities. The demand from emerging economies and emerging market demand is expected to contribute to the lucrative growth of the global wood coating market within the forecast period. Europe trails Asia Pacific in the global wood coatings market.

Browse the full “Wood Coatings Market By Technology (Spraying, Conventional Spray, High-Volume Low-Pressure, Electrostatic, Airless Spraying, Non-Spray Coatings, Rollers, Brushes, Vacuums, and Curtaining), By Resin Type (Acrylics, Polyurethane, Nitrocellulose, Melamine Formaldehyde, and Others), By Application (Cabinets, Side and Deck, Furniture, and Others), and By Region: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2024 – 2032” Report at https://www.zionmarketresearch.com/report/wood-coatings-market

The key players in the global wood coatings market are Akzo Nobel Coatings NV, Kansai Paint Co. Ltd., DuPont Coatings and Color Technologies Group, BASF Coatings AG, Hempel A/S, Ashland Inc., Arkema SA, Sherwin-Williams Co., ICI Paints, PPG Industries Inc., Dow Coating Materials, The Valspar Corporation, RPM International Inc. and Nippon Paint Co. Ltd.

This report segments the wood coatings market as follows:

By Technology

• Spraying
• Conventional Spray
• High-Volume Low-Pressure
• Electrostatic
• Airless Spraying
• Non-Spray Coatings
• Rollers
• Brushes
• Vacuums
• Curtaining

By Resin Types

• Acrylics
• Polyurethane
• Nitrocellulose
• Melamine Formaldehyde
• Others

By Application

• Cabinets
• Side & Deck
• Furniture
• Others

Wood Coating Market: Region Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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