Summary

Wood Coatings Market Growth & Trends

The global wood coatings market size is anticipated to reach USD 15.96 billion by 2030, registering a CAGR of 4.9% from 2023 to 2030, according to a new report by Grand View Research, Inc. The primary factor driving market growth is the increasing demand for wooden furniture in households globally.

The rising consumer disposable income and improving standards of living are driving the demand for various wooden furniture items, such as sofas, beds, chairs, cabinets, and shelves. This, in turn, is expected to boost the demand for wood coatings. According to Invest India (National Investment Promotion & Facilitation Agency), the domestic furniture market is growing at a CAGR of around 12%. It was valued at USD 32 billion in 2022, accounting for a 5% share in the global furniture market.

Wood coatings are essential products in te furniture and cabinetry industry. They enhance the aesthetic appeal of wooden surfaces. Wood coatings are available in various colors and finishes, allowing consumers to customize the appearance of their wood products to match their preferences and interior design trends. Wood coatings protect the wood and improve durability.

Mergers, acquisitions, and new product launches are the major strategies undertaken by the major players to strengthen their market presence. For instance, in May 2019, Axalta revealed an exciting collaboration with Palmetto Paint Specialties, a prominent distributor within the industrial coatings market in the Carolinas region. Under this partnership, Palmetto Paint will maintain a comprehensive inventory of products spanning various technologies, encompassing catalyzed coatings, lacquers, radiation curable, glazes, stains, and dyes designed for the industrial wood market

Wood Coatings Market Report Highlights

• Based on resin type, the polyurethane segment dominated the market and accounted for a revenue share of 41.0% in 2022. Polyurethane coatings are known for their exceptional durability; they have good chemical resistance and provide excellent UV protection to wood. In addition, they are easy to apply and have fast drying times

• Based on technology, the solvent-borne segment accounted for the largest market share in 2022. Solvent-borne technology offers fast drying conditions, good adhesive properties, and enhanced durability. Solvent-based coatings provide superior performance in terms of wear and tear. In addition, solvent-borne coatings can be formulated to work on various wood substrates, including softwoods and hardwoods, without significantly altering the color or grain of the wood

• Based on application, the furniture segment is expected to grow at the fastest CAGR of 5.2% over the forecast period 2023-2030. This can be attributed to the wider applications of wood coatings in the furniture industry. Furniture is the largest segment in the wood products industry. Thus, the demand for coatings is high in the furniture segment

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Table of Contents

Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased database
1.3.2. GVR’s internal database
1.3.3. Secondary sources
1.3.4. Primary research
1.4. Information or Data Analysis
1.5. Market Formulation & Validation
Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Segment Snapshot
2.3. Competitive Landscape Snapshot
Chapter 3. Wood Coatings Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Value Chain Analysis
3.3. Regulatory Framework
3.4. Price Trend Analysis, 2018 - 2030
3.4.1. Factors Influencing Prices
3.5. Market Dynamics
3.5.1. Market driver analysis
3.5.2. Market restraint analysis
3.5.3. Industry opportunities & challenges
3.6. Wood Coatings Market Analysis Tools
3.6.1. Industry analysis - Porter’s
3.6.1.1. Supplier power
3.6.1.2. Buyer power
3.6.1.3. Substitution threat
3.6.1.4. Threat of new entrant
3.6.1.5. Competitive rivalry
3.6.2. PESTEL analysis
3.6.2.1. Political landscape
3.6.2.2. Technological landscape
3.6.2.3. Economic landscape
3.6.2.4. Social landscape
3.6.2.5. Environmental landscape
3.6.2.6. Legal landscape
Chapter 4. Supplier Portfolio Analysis
4.1. List of Raw Material Suppliers
4.2. Kraljic Matrix
4.3. Engagement Model
4.4. Negotiation Strategies
Chapter 5. Wood Coatings: Resin Type Estimates & Trend Analysis
5.1. Wood Coatings Market: Movement & Market Share Analysis, 2022 & 2030
5.2. Polyurethane
5.2.1. Polyurethane market estimates and forecasts, 2018 to 2030 (USD Million, Kilo Tons)
5.3. Acrylic
5.3.1. Acrylic market estimates and forecasts, 2018 to 2030 (USD Million, Kilo Tons)
5.4. Nitrocellulose
5.4.1. Nitrocellulose market estimates and forecasts, 2018 to 2030 (USD Million, Kilo Tons)
5.5. Unsaturated Polyester
5.5.1. Unsaturated polyester market estimates and forecasts, 2018 to 2030 (USD Million, Kilo Tons)
5.6. Others
5.6.1. Others market estimates and forecasts, 2018 to 2030 (USD Million, Kilo Tons)
Chapter 6. Wood Coatings: Technology Estimates & Trend Analysis
6.1. Wood Coatings Market: Movement & Market Share Analysis, 2022 & 2030
6.2. Waterborne
6.2.1. Waterborne market estimates and forecasts, 2018 to 2030 (USD Million, Kilo Tons)
6.3. Solvent-borne
6.3.1. Solvent-borne market estimates and forecasts, 2018 to 2030 (USD Million, Kilo Tons)
6.4. Powder Coating
6.4.1. Powder coating market estimates and forecasts, 2018 to 2030 (USD Million, Kilo Tons)
6.5. Radiation Cured
6.5.1. Radiation cured market estimates and forecasts, 2018 to 2030 (USD Million, Kilo Tons)
6.6. Others
6.6.1. Others market estimates and forecasts, 2018 to 2030 (USD Million, Kilo Tons)
Chapter 7. Wood Coatings: Application Estimates & Trend Analysis
7.1. Wood Coatings Market: Movement & Market Share Analysis, 2022 & 2030
7.2. Furniture
7.2.1. Furniture market estimates and forecasts, 2018 to 2030 (USD Million, Kilo Tons)
7.3. Joinery
7.3.1. Joinery market estimates and forecasts, 2018 to 2030 (USD Million, Kilo Tons)
7.4. Flooring & Decking
7.4.1. Flooring & decking market estimates and forecasts, 2018 to 2030 (USD Million, Kilo Tons)
7.5. Siding
7.5.1. Siding market estimates and forecasts, 2018 to 2030 (USD Million, Kilo Tons)
7.6. Others
7.6.1. Others market estimates and forecasts, 2018 to 2030 (USD Million, Kilo Tons)
Chapter 8. Wood Coatings Market: Regional Estimates & Trend Analysis
8.1. Wood Coatings Market: Movement & Market Share Analysis, 2022 & 2030
8.2. North America
8.2.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Volume, Kilo Tons)
8.2.2. U.S.
8.2.2.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Volume, Kilo Tons)
8.2.3. Canada
8.2.3.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Volume, Kilo Tons)
8.2.4. Mexico
8.2.4.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Volume, Kilo Tons)
8.3. Europe
8.3.1. UK
8.3.1.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Volume, Kilo Tons)
8.3.2. Germany
8.3.2.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Volume, Kilo Tons)
8.3.3. France
8.3.3.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Volume, Kilo Tons)
8.3.4. Italy
8.3.4.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Volume, Kilo Tons)
8.3.5. Spain
8.3.5.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Volume, Kilo Tons)
8.3.6. Netherlands
8.3.6.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Volume, Kilo Tons)
8.3.7. Turkey
8.3.7.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Volume, Kilo Tons)
8.4. Asia Pacific
8.4.1. Japan
8.4.1.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Volume, Kilo Tons)
8.4.2. China
8.4.2.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Volume, Kilo Tons)
8.4.3. India
8.4.3.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Volume, Kilo Tons)
8.4.4. Australia
8.4.4.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Volume, Kilo Tons)
8.4.5. Thailand
8.4.5.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Volume, Kilo Tons)
8.4.6. South Korea
8.4.6.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Volume, Kilo Tons)
8.4.7. Malaysia
8.4.7.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Volume, Kilo Tons)
8.4.8. Indonesia
8.4.8.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Volume, Kilo Tons)
8.5. Central & South America
8.5.1. Brazil
8.5.1.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Volume, Kilo Tons)
8.5.2. Argentina
8.5.2.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Volume, Kilo Tons)
8.6. MEA
8.6.1. Saudi Arabia
8.6.1.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Volume, Kilo Tons)
8.6.2. South Africa
8.6.2.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Volume, Kilo Tons)
8.6.3. UAE
8.6.3.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million, Volume, Kilo Tons)
Chapter 9. Competitive Landscape
9.1. Recent Developments & Impact Analysis, By Key Market Participants
9.2. Market Participant Categorization
9.3. Company Heat Map Analysis
9.4. Strategy Mapping
9.5. Company Listing (Business Overview, Financial Performance, Product Benchmarking)
9.5.1. The Sherwin-Williams Company
9.5.2. PPG Industries, Inc.
9.5.3. Akzo Nobel N.V.
9.5.4. Nippon Paint Holdings Co., Ltd.
9.5.5. RPM International Inc.
9.5.6. Diamond Paints
9.5.7. BASF SE
9.5.8. Axalta Coating Systems, LLC
9.5.9. KANSAI HELIOS
9.5.10. Asian Paints
9.5.11. Eastman Chemical Company