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Wood Coatings Market - Global Industry Analysis

Wood Coatings Market by Technology (Spraying, Conventional Spray, High-Volume Low-Pressure, Electrostatic, Airless Spraying, Non-Spray Coatings, Rollers, Brushes, Vacuums, Curtaining), By Resin Type (Acrylics, Polyurethane, Nitrocellulose, Melamine Formaldehyde, Others), By Application (Cabinets, Side and Deck, Furniture, Others), Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2028

Published Date: 03-May-2021 Category: Chemical & Materials Report Format : PDF Pages: 140 Report Code: ZMR-247 Status : Published

The global wood coatings market accounted for USD 8,148 Million in 2020 and is expected to reach USD 13,952 Million by 2028, growing at a CAGR of 6.7% from 2021 to 2028.

Description

Market Overview

The global wood coatings market accounted for USD 8,148 Million in 2020 and is expected to reach USD 13,952 Million by 2028, growing at a CAGR of 6.7% from 2021 to 2028.

Wood coating is a kind of material applied to the surface to protect the wood from the external factors. It helps in increasing the product life. Also, the use of wood coating increases the visual cues of wooden object, thereby helping in marketing of the product.

The growing production of furniture across the world is one of the major factors driving the market growth. In Asia-Pacific and the Middle East & Africa, the growing construction industry is also likely to boost the market growth. The demand for furnitures, such as chairs, table, bed, sofa, shelves, and cupboard, has been increasing significantly with increasing housing construction, population, and income-levels across the world. Also, with the rapidly increasing service sector, a huge proportion of the population has been relocating to new locations, which is raising the trend of hostels, co-living, guest houses, and official premises. This is expected to augment the demand for various furniture products.

COVID-19 Impact Analysis

The covid-19 have led us to serious implications as it has deepen the growth to a significant level and wood coating wasn’t an exception. The demand for wood coating primarily depends on the construction activities at residential, commercial and industrial level. The covid-19 pandemic has brought these end use industries on backfoot as they have to face the significant loss in revenue. For instance, until 2019 the U.S construction industry was contributing around USD 2 trillion to the GDP. Now, the number reduced to USD 1.36 trillion. The end of the lockdown is anticipated to grow the wood coating market Owing to the increasing applications of polyurethane coatings across several sectors, including commercial, architectural, and structural work, paneling, furniture, etc.

Growth Factor:

Owing to the increasing applications of polyurethane coatings across several sectors, including commercial, architectural, and structural work, paneling, furniture, etc. the polyurethane segment dominated the market, and is expected to grow during the forecast period. During last few years the significant increase in in the spending power of the people thereby creating positive growth impact on the market.

However, changing government regulations, volatility in raw material prices can affect the market growth negatively. Moreover. Changing trade policies U.S. and china trade wars and outbreak of covid-19 have affected the supply chain thereby disturbing the demand and supply ration. This imbalance will create further opportunity in U.S. Market.Stringent environmental regulations may act as restrain the demand for wood coatings, during the forecast period.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Applications Segment Analysis

By application the furniture segment holds the share of over 30% in the market and is projected to lead the global market, This can majorly be attributed to increased number of individual home buyers. The demand for wood coatings in the construction and furniture industries is expected to increase considerably Owing to the advantages of wood coatings such as enduring surface finish, solvent & scratch resistance, resilience to UV light damage, resistance to general wear & tear, quick drying, superior sanding, and multi-coat & smooth finish application.

Technology Segment Analysis

Depending on technology, owing to low price and quick drying characteristics, the conventional solid solvent borne segment holds the major share in the market. The low price of the conventional solid solvent borne wood coatings ascribe to easy availability of hydrocarbon solvent base as it is derived from crude oil. Moreover, solvent helps in providing viscosity to wood coatings.

Regional Segment Analysis

Globally, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. Owing to increase in demand for wood coatings from emerging application sectors, including furniture, joinery, flooring, and others Asia-Pacific accounts for the major share in the global wood coatings market. Europe and North America will possess a huge opportunity in near future. 

North America wood coating market is majorly driven by increasing demand for the various furnitures, huge spending power, and increasing adoption of the furnitures. The market is expected to have a steady growth owing to the various regulations. U.S. is one of the major importer for the market and in 2019, the country has imported the furniture of USD 54,901.9 million. The North America market is expected to grow at the CAGR of 5.8% during the forecasted period.

Asia Pacific dominated the global market with the share of over 40% in the global market. Presence of huge manufacturer, high demand for the furnitures and presence of developing economies have driven the growth of the market. Indonesia is major producer of furniture and China is the global leader in the chemical and coating material. Continuously increasing demand for the furnitures, developing infrastructure, and changing standard of living have boosted the market growth. Owing to the huge untapped opportunity the Asia Pacific region will grow at the fastest CAGR of 6.2% during the forecast period 2021-2028.

Key Market Players &Competitive Landscape

The major companies operating in the global wood coatings market 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.

The Wood Coating Market is segmented as follows:

By Technology

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

By Resin Type

  • Acrylics
  • Polyurethane
  • Nitrocellulose
  • Melamine Formaldehyde
  • Others

By Application

  • Cabinets
  • Side and Deck
  • Furniture
  • Others

By Region

  • 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

Table Of Content

  • CHAPTER NO. 1 : INTRODUCTION
    • 1.1. Report Description
      • 1.1.1. Purpose of the Report
      • 1.1.2. USP & Key Offerings
    • 1.2. Key Benefits for Stakehulders
    • 1.3. Target Audience
    • 1.4. Report Scope
  • CHAPTER NO. 2 : EXECUTIVE SUMMARY
    • 2.1. Key Findings
      • 2.1.1. Top Investment Pockets
        • 2.1.1.1. Market Attractiveness Analysis, By Technulogy
        • 2.1.1.2. Market Attractiveness Analysis, By Resin Type
        • 2.1.1.3. Market Attractiveness Analysis, By Application
        • 2.1.1.4. Market Attractiveness Analysis, By Region
    • 2.2. Market Snapshot
    • 2.3. Global Wood Coatings Market, 2016 – 2028 (USD Million)
    • 2.4. Insights from Primary Respondents
  • CHAPTER NO. 3 : COVID 19 IMPACT ANALYSIS
    • 3.1. Impact Assessment of COVID-19 Pandemic, By Region
      • 3.1.1. North America
      • 3.1.2. Europe
      • 3.1.3. Asia Pacific
      • 3.1.4. Latin America
      • 3.1.5. The Middle-East and Africa
    • 3.2. Quarterly Market Revenue and Forecast by Region 2020 & 2021
    • 3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Million)
    • 3.4. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Million)
    • 3.5. Key Strategies Undertaken by Companies to Tackle COVID-19
      • 3.5.1. Company Quarterly Revenue Analysis, 2019 & 2020
    • 3.6. Short Term Dynamics
    • 3.7. Long Term Dynamics
  • CHAPTER NO. 4 : WOOD COATINGS MARKET – BY TECHNOLOGY SEGMENT ANALYSIS
    • 4.1. Overview
      • 4.1.1. Market Revenue Share, By Technulogy, 2020 & 2028
    • 4.2. Spraying
      • 4.2.1. Market Size and Forecast, By Region (USD Million)
      • 4.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.3. Conventional Spray
      • 4.3.1. Market Size and Forecast, By Region (USD Million)
      • 4.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.4. Conventional Spray
      • 4.4.1. Market Size and Forecast, By Region (USD Million)
      • 4.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.5. Electrostatic
      • 4.5.1. Market Size and Forecast, By Region (USD Million)
      • 4.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.5.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.6. Airless Spraying
      • 4.6.1. Market Size and Forecast, By Region (USD Million)
      • 4.6.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.6.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.7. Non-Spray Coatings
      • 4.7.1. Market Size and Forecast, By Region (USD Million)
      • 4.7.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.7.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.8. Rullers
      • 4.8.1. Market Size and Forecast, By Region (USD Million)
      • 4.8.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.8.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.9. Brushes
      • 4.9.1. Market Size and Forecast, By Region (USD Million)
      • 4.9.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.9.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.10. Vacuums
      • 4.10.1. Market Size and Forecast, By Region (USD Million)
      • 4.10.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.10.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.11. Curtaining
      • 4.11.1. Market Size and Forecast, By Region (USD Million)
      • 4.11.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.11.3. Key Market Trends, Growth Factors, & Opportunities
  • CHAPTER NO. 5 : WOOD COATINGS MARKET – BY RESIN TYPE SEGMENT ANALYSIS
    • 5.1. Overview
      • 5.1.1. Market Revenue Share, By Resin Type, 2020 & 2028
    • 5.2. Acrylics
      • 5.2.1. Market Size and Forecast, By Region (USD Million)
      • 5.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.3. Pulyurethane
      • 5.3.1. Market Size and Forecast, By Region (USD Million)
      • 5.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.4. Nitrocellulose
      • 5.4.1. Market Size and Forecast, By Region (USD Million)
      • 5.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.5. Melamine Formaldehyde
      • 5.5.1. Market Size and Forecast, By Region (USD Million)
      • 5.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.5.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.6. Others
      • 5.6.1. Market Size and Forecast, By Region (USD Million)
      • 5.6.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.6.3. Key Market Trends, Growth Factors, & Opportunities
  • CHAPTER NO. 6 : WOOD COATINGS MARKET – BY APPLICATION SEGMENT ANALYSIS
    • 6.1. Overview
      • 6.1.1. Market Revenue Share, By Application, 2020 & 2028
    • 6.2. Cabinets
      • 6.2.1. Market Size and Forecast, By Region (USD Million)
      • 6.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 6.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 6.3. Side and Deck
      • 6.3.1. Market Size and Forecast, By Region (USD Million)
      • 6.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 6.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 6.4. Furniture
      • 6.4.1. Market Size and Forecast, By Region (USD Million)
      • 6.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 6.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 6.5. Other
      • 6.5.1. Market Size and Forecast, By Region (USD Million)
      • 6.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 6.5.3. Key Market Trends, Growth Factors, & Opportunities
  • CHAPTER NO. 7 : WOOD COATINGS MARKET – REGIONAL ANALYSIS
    • 7.1. Overview
      • 7.1.1. Global Market Revenue Share, By Region, 2020 & 2028
      • 7.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD Million)
    • 7.2. North America
      • 7.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 7.2.2. North America Market Revenue, By Technulogy, 2016 – 2028
      • 7.2.3. North America Market Revenue, By Resin Type, 2016 – 2028
      • 7.2.4. North America Market Revenue, By Application, 2016 – 2028
      • 7.2.5. U.S.
        • 7.2.5.1. U.S. Market Revenue, By Technulogy, 2016 – 2028
        • 7.2.5.2. U.S. Market Revenue, By Resin Type, 2016 – 2028
        • 7.2.5.3. U.S. Market Revenue, By Application, 2016 – 2028
      • 7.2.6. Canada
        • 7.2.6.1. Canada Market Revenue, By Technulogy, 2016 – 2028
        • 7.2.6.2. Canada Market Revenue, By Resin Type, 2016 – 2028
        • 7.2.6.3. Canada Market Revenue, By Application, 2016 – 2028
      • 7.2.7. Mexico
        • 7.2.7.1. Mexico Market Revenue, By Technulogy, 2016 – 2028
        • 7.2.7.2. Mexico Market Revenue, By Resin Type, 2016 – 2028
        • 7.2.7.3. Mexico Market Revenue, By Application, 2016 – 2028
    • 7.3. Europe
      • 7.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 7.3.2. Europe Market Revenue, By Technulogy, 2016 – 2028
      • 7.3.3. Europe Market Revenue, By Resin Type, 2016 – 2028
      • 7.3.4. Europe Market Revenue, By Application, 2016 – 2028
      • 7.3.5. Germany
        • 7.3.5.1. Germany Market Revenue, By Technulogy, 2016 – 2028
        • 7.3.5.2. Germany Market Revenue, By Resin Type, 2016 – 2028
        • 7.3.5.3. Germany Market Revenue, By Application, 2016 – 2028
      • 7.3.6. France
        • 7.3.6.1. France Market Revenue, By Technulogy, 2016 – 2028
        • 7.3.6.2. France Market Revenue, By Resin Type, 2016 – 2028
        • 7.3.6.3. France Market Revenue, By Application, 2016 – 2028
      • 7.3.7. U.K.
        • 7.3.7.1. U.K. Market Revenue, By Technulogy, 2016 – 2028
        • 7.3.7.2. U.K. Market Revenue, By Resin Type, 2016 – 2028
        • 7.3.7.3. U.K. Market Revenue, By Application, 2016 – 2028
      • 7.3.8. Italy
        • 7.3.8.1. Italy Market Revenue, By Technulogy, 2016 – 2028
        • 7.3.8.2. Italy Market Revenue, By Resin Type, 2016 – 2028
        • 7.3.8.3. Italy Market Revenue, By Application, 2016 – 2028
      • 7.3.9. Spain
        • 7.3.9.1. Spain Market Revenue, By Technulogy, 2016 – 2028
        • 7.3.9.2. Spain Market Revenue, By Resin Type, 2016 – 2028
        • 7.3.9.3. Spain Market Revenue, By Application, 2016 – 2028
      • 7.3.10. Rest of Europe
        • 7.3.10.1. Rest of Europe Market Revenue, By Technulogy, 2016 – 2028
        • 7.3.10.2. Rest of Europe Market Revenue, By Resin Type, 2016 – 2028
        • 7.3.10.3. Rest of Europe Market Revenue, By Application, 2016 – 2028
    • 7.4. Asia Pacific
      • 7.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 7.4.2. Asia Pacific Market Revenue, By Technulogy, 2016 – 2028
      • 7.4.3. Asia Pacific Market Revenue, By Resin Type, 2016 – 2028
      • 7.4.4. Asia Pacific Market Revenue, By Application, 2016 – 2028
      • 7.4.5. China
        • 7.4.5.1. China Market Revenue, By Technulogy, 2016 – 2028
        • 7.4.5.2. China Market Revenue, By Resin Type, 2016 – 2028
        • 7.4.5.3. China Market Revenue, By Application, 2016 – 2028
      • 7.4.6. Japan
        • 7.4.6.1. Japan Market Revenue, By Technulogy, 2016 – 2028
        • 7.4.6.2. Japan Market Revenue, By Resin Type, 2016 – 2028
        • 7.4.6.3. Japan Market Revenue, By Application, 2016 – 2028
      • 7.4.7. India
        • 7.4.7.1. India Market Revenue, By Technulogy, 2016 – 2028
        • 7.4.7.2. India Market Revenue, By Resin Type, 2016 – 2028
        • 7.4.7.3. India Market Revenue, By Application, 2016 – 2028
      • 7.4.8. South Korea
        • 7.4.8.1. South Korea Market Revenue, By Technulogy, 2016 – 2028
        • 7.4.8.2. South Korea Market Revenue, By Resin Type, 2016 – 2028
        • 7.4.8.3. South Korea Market Revenue, By Application, 2016 – 2028
      • 7.4.9. South-East Asia
        • 7.4.9.1. South-East Asia Market Revenue, By Technulogy, 2016 – 2028
        • 7.4.9.2. South-East Asia Market Revenue, By Resin Type, 2016 – 2028
        • 7.4.9.3. South-East Asia Market Revenue, By Application, 2016 – 2028
      • 7.4.10. Rest of Asia Pacific
        • 7.4.10.1. Rest of Asia Pacific Market Revenue, By Technulogy, 2016 – 2028
        • 7.4.10.2. Rest of Asia Pacific Market Revenue, By Resin Type, 2016 – 2028
        • 7.4.10.3. Rest of Asia Pacific Market Revenue, By Application, 2016 – 2028
    • 7.5. Latin America
      • 7.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 7.5.2. Latin America Market Revenue, By Technulogy, 2016 – 2028
      • 7.5.3. Latin America Market Revenue, By Resin Type, 2016 – 2028
      • 7.5.4. Latin America Market Revenue, By Application, 2016 – 2028
      • 7.5.5. Brazil
        • 7.5.5.1. Brazil Market Revenue, By Technulogy, 2016 – 2028
        • 7.5.5.2. Brazil Market Revenue, By Resin Type, 2016 – 2028
        • 7.5.5.3. Brazil Market Revenue, By Application, 2016 – 2028
      • 7.5.6. Argentina
        • 7.5.6.1. Argentina Market Revenue, By Technulogy, 2016 – 2028
        • 7.5.6.2. Argentina Market Revenue, By Resin Type, 2016 – 2028
        • 7.5.6.3. Argentina Market Revenue, By Application, 2016 – 2028
      • 7.5.7. Rest of Latin America
        • 7.5.7.1. Rest of Latin America Market Revenue, By Technulogy, 2016 – 2028
        • 7.5.7.2. Rest of Latin America Market Revenue, By Resin Type, 2016 – 2028
        • 7.5.7.3. Rest of Latin America Market Revenue, By Application, 2016 – 2028
    • 7.6. The Middle-East and Africa
      • 7.6.1. The Middle-East and Africa Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 7.6.2. The Middle-East and Africa Market Revenue, By Technulogy, 2016 – 2028
      • 7.6.3. The Middle-East and Africa Market Revenue, By Resin Type, 2016 – 2028
      • 7.6.4. The Middle-East and Africa Market Revenue, By Application, 2016 – 2028
      • 7.6.5. GCC Countries
        • 7.6.5.1. GCC Countries Market Revenue, By Technulogy, 2016 – 2028
        • 7.6.5.2. GCC Countries Market Revenue, By Resin Type, 2016 – 2028
        • 7.6.5.3. GCC Countries Market Revenue, By Application, 2016 – 2028
      • 7.6.6. South Africa
        • 7.6.6.1. South Africa Market Revenue, By Technulogy, 2016 – 2028
        • 7.6.6.2. South Africa Market Revenue, By Resin Type, 2016 – 2028
        • 7.6.6.3. South Africa Market Revenue, By Application, 2016 – 2028
      • 7.6.7. Rest of Middle-East Africa
        • 7.6.7.1. Rest of Middle-East Africa Market Revenue, By Technulogy, 2016 – 2028
        • 7.6.7.2. Rest of Middle-East Africa Market Revenue, By Resin Type, 2016 – 2028
        • 7.6.7.3. Rest of Middle-East Africa Market Revenue, By Application, 2016 – 2028
  • CHAPTER NO. 8 : WOOD COATINGS MARKET – INDUSTRY ANALYSIS
    • 8.1. Introduction
    • 8.2. Market Drivers
      • 8.2.1. Driving Factor 1 Analysis
      • 8.2.2. Driving Factor 2 Analysis
    • 8.3. Market Restraints
      • 8.3.1. Restraining Factor Analysis
    • 8.4. Market Opportunities
      • 8.4.1. Market Opportunity Analysis
    • 8.5. Porter’s Five Forces Analysis
    • 8.6. PEST Analysis
    • 8.7. Regulatory Landscape
    • 8.8. Technulogy Landscape
    • 8.9. Regional Market Trends
      • 8.9.1. North America
      • 8.9.2. Europe
      • 8.9.3. Asia Pacific
      • 8.9.4. Latin America
      • 8.9.5. The Middle-East and Africa
    • 8.10. Pricing Analysis
    • 8.11. Value Chain Analysis
    • 8.12. Downstream Buyers
    • 8.13. Distributors/Traders List
  • CHAPTER NO. 9 : COMPETITIVE LANDSCAPE
    • 9.1. Company Market Share Analysis – 2019
      • 9.1.1. Global Wood Coatings Market: Company Market Share, 2019
      • 9.1.2. Global Wood Coatings Market, Company Market Revenue, 2016 – 2019 (USD Million)
      • 9.1.3. Global Wood Coatings Market, Company Y-o-Y Growth, 2017 – 2019 (%)
      • 9.1.4. Global Wood Coatings Market: Radar Determinant Chart, 2019
    • 9.2. Strategic Developments
      • 9.2.1. Acquisitions & Mergers
      • 9.2.2. New Product Launch
      • 9.2.3. Regional Expansion
    • 9.3. Company Strategic Developments – Heat Map Analysis
  • CHAPTER NO. 10 : COMPANY PROFILES
    • 10.1. Oracle Corporation
      • 10.1.1. Company Overview
      • 10.1.2. Key Executives
      • 10.1.3. Product Portfulio
      • 10.1.4. Financial Overview
      • 10.1.5. Operating Business Segments
      • 10.1.6. Business Performance
      • 10.1.7. Recent Developments
    • 10.2. SAP SE
    • 10.3. SAS Institute, Inc.
    • 10.4. Capgemini
    • 10.5. CA Technulogies
    • 10.6. Workiva
    • 10.7. IBM Corporation
    • 10.8. Emtec
    • 10.9. The Hackett Group
    • 10.10. MicroStrategy, Inc.
  • CHAPTER NO. 11 : MARKETING STRATEGY ANALYSIS
    • 11.1. Marketing Channel
    • 11.2. Direct Marketing
    • 11.3. Indirect Marketing
    • 11.4. Marketing Channel Development Trends
    • 11.5. Economic/Pulitical Environmental Change
  • CHAPTER NO. 12 : RESEARCH METHODOLOGY
    • 12.1. Research Methodulogy
    • 12.2. Phase I - Secondary Research
    • 12.3. Phase II - Data Modeling
      • 12.3.1. Company Share Analysis Model
      • 12.3.2. Revenue Based Modeling
    • 12.4. Phase III - Primary Research
    • 12.5. Research Limitations
      • 12.5.1. Assumptions

Methodology

This report is based on in-depth qualitative and quantitative analyses of the global Wood Coatings market. Zion Research has collected and analyzed key data belong to the global Wood Coatings market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.

The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.

Various parameters have been taken into account, while estimating market size. The revenue generated by the leading industry participants in from the sales of Wood Coatings across the world has been calculated through primary and secondary research.

Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc. 

For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in validation of findings from secondary research and to understand key trends in the Wood Coatings industry. Primary research makes up the major source of data collection and validation.   

Primary Research

We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:

  • Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
  • Helps in validating and strengthening the secondary research findings
  • Further, develops the analysis team’s expertise and market understanding
  • Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

Participants who typically participate in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts and research analysts specializing in specific markets

Key opinion leaders specializing in different areas corresponding to different industry verticals

Secondary Research

Secondary research sources that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • IDC and other relevant magazines
  • Internal and external proprietary databases, and relevant patent and regulatory databases
  • National government documents, statistical databases and market reports

News articles, press releases and webcasts specific to companies operating in the market

Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Wood Coatings market.

Models

Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:

  • Demographic data: Population split by segments
  • Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
  • Industry indicators: Expenditure, technology stage and infrastructure, sector growth and facilities
  • Data is then cross-checked by an expert panel.

Free Analysis

The wood coating is the process of refining or protecting a wooden surface by using chemical or natural resources. It increases the durability and resistance to the moisture and enhances the appearance of the wooden surface. It helps to keep clean and sanitize all furniture by sealing pores with the wood coating. Additionally, the wood coatings find applications such as furniture used in hospitals, research laboratory, dining hall, and hotels, etc. The most common wood coatings are the water repellants and the polishes which are widely used because of their high effectiveness.

The global wood coating market is mainly driven by increasing urbanized population along with the rise in new construction. Moreover, renovations and remodeling are expected to drive the wood coatings market during the years to come.  However, prolonged recession in some parts of Europe is expected to impede the growth of the market. Nevertheless, the emergence of new product developments & technologies and emerging markets in the Asia-Pacific region are likely to set new wings to the market of the wood coating during the coming years.

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The resins used in the wood coatings market are bifurcated into different types such as polyurethane, nitrocellulose, acrylics, melamine formaldehyde and others. Among all, polyurethane held the maximum share around 40% in the market in 2016. Furthermore, this trend is expected to continue in the coming years due to its special characteristics such as humidity and scratch resistance. Other advantages of polyurethane are its non-yellowing property and ability to retain light colors. Therefore, it is also predicted to be one of the fastest growing segments of the global wood coating market within the forecast period.

Based on application, the global wood coating market is segmented into cabinets, decking & siding, furniture, and other applications. Furniture was the largest segment of the market in 2016. Moreover, siding and decking are predicted to witness the lucrative growth of the market during the coming years due to the growing trend of siding and decking in Asia Pacific countries including India, China, and Thailand.

In 2016, Asia Pacific was the largest market for the global wood coatings, which was followed by the Europe and the North America. The factors responsible for the market growth in the Asia Pacific region are the rise in the disposable income and the increase in the constructional activities. The consistency demand from emerging economies and demand from the emerging markets will contribute to the growth of the global wood coatings market. China and India are holding a major market share in the Asia Pacific region in 2016 and furthermore, this trend is expected to continue in the future years.

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.


Frequently Asked Questions

The global wood coatings market was valued at USD 8,148 Million in 2020.

The global wood coatings market is expected to reach USD 13,952 Million by 2028, growing at a CAGR of 6.7% between 2021 to 2028.

Owing to the increasing applications of polyurethane coatings across several sectors, including commercial, architectural, and structural work, paneling, furniture, etc. the polyurethane segment dominated the market, and is expected to grow during the forecast period.

Asia Pacific region held a substantial share of the 3D camera market in 2020.

The major companies operating in the global wood coatings market 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.

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