Wood Coating Market Research Report
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Wood Coating Market - Global Outlook & Forecast 2021-2026

TO BE PUBLISHED : Oct 2021 | Pages : 252

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THE GLOBAL WOOD COATING MARKET WAS VALUED AT USD 9.66 BILLION IN 2020 AND IS EXPECTED TO REACH USD 12.97 BILLION BY 2026, GROWING AT A CAGR OF 5.03% DURING THE FORECAST PERIOD

The Global Wood Coating Market Share, Size & Trends Analysis By Formulation (Solvent-Borne, Water-Borne, High Solid, UV-Cured, and Powder-Borne), By Coating Type (Stain & Varnishes, Shellacs, Wood Preservatives, Water Repellants, and Others), By End-Use (Flat Stock Wood (Furniture and Cabinetry, Paneling & Doors, Siding, and Flooring & Others) and Wood Finishes (Furniture, Cabinetry, Flooring, and Others)), By Geography (North America, Europe, APAC, Latin America, and, Middle East & Africa) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021–2026.

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Most Exhaustive Report

252 Pages

118 Tables

91 Charts

5 Regions

17 Countries

19 Companies

4 Market Segment

GLOBAL WOOD COATINGS MARKET REPORT SCOPE

Report Attribute Details
MARKET SIZE (REVENUE) USD 12.97 BILLION (2026)
CAGR 5.03% (2021-2026)
BASE YEAR 2020
FORECAST YEAR 2021-2026
MARKET SEGMENTS By Formulation (Solvent-Borne, Water-Borne, High Solid, UV-Cured, and Powder-Borne), By Coating Type (Stain & Varnishes, Shellacs, Wood Preservatives, Water Repellants, and Others), By End-use (Flat Stock Wood (Furniture and Cabinetry, Paneling & Doors, Siding and Flooring & Others) Wood Finishes (Furniture, Cabinetry, Flooring, and Others))
GEOGRAPHIC ANALYSIS North America, Europe, APAC, Latin America, Middle East & Africa
COUNTRIES COVERED US, Canada, Brazil, Mexico, Saudi Arabia, South Africa, UAE, China, India, Japan, South Korea, Indonesia, Germany, France, UK, Russia, Italy, and Turkey

WOOD COATING MARKET OVERVIEW

The global wood coating market size was valued at USD 9.66 billion in 2020 and is expected to reach USD 12.97 billion by 2026, growing at a CAGR of 5.03% during the forecast period. The demand for wood coating solutions is increasing at a rapid rate in every region. The rising living standards, growing disposable income, rapid urbanization, and substantial investment by the government contribute to the accelerated growth of the construction industry. This is positively impacting the demand for cabinets, sidings, flooring, beds, cupboards, tables, and other furniture, thus impacting the growth of wood coating. Significant changes are happening in the global coating industry. The continuous adoption of coating technologies to offer better products is one such changing trend in the global industry.

KEY HIGHLIGHTS

  • APAC is the leading market for wood coating market until 2026.
  • Solvent-borne formulation holds the largest share in the wood coating market in 2020 and grows at a CAGR of around 5% during the forecast period.
  • Due to the government regulation regarding the low VOC (volatile organic compound) content, the industries are moving towards high solid and UV-Cured coating, which are less susceptible to VOC.
  • The demand for waterborne wood coatings formulation is increasing due to several government regulations. Thus, companies should focus on developing sustainable and environment-friendly wood furniture coating products.

WOOD COATINGS MARKET SEGMENTATION

This research report includes a detailed segmentation by

  • Formulation
  • Coating Type
  • End-use
  • Geography

WOOD COATINGS MARKET SEGMENTS

  • Solvent-borne coatings are less prone to environmental conditions such as humidity and high temperatures. Thus, they are preferred more for applications in humid environments that don’t allow water-borne coatings to cure correctly.
  • The global stain and varnish wood coating market are expected to grow at a CAGR of 5.36%. Varnishes provide excellent UV protection, while wood stain finish changes or improves the wood color and the visibility of the grains.
  • Furniture and cabinetry account for the highest market share in wood finishes and will be in line with market demand.

GEOGRAPHICAL ANALYSIS

  • China and Japan are the largest markets for wood coating in the APAC region. India continues to be an evolving market and has been on the priority list of most international and local investors due to favorable government regulations and the presence of a strong manufacturing hub.
  • The global coatings market in North America is expected to witness profitable growth during the forecast period. This is due to the increasing construction of residential and non-residential buildings such as hotels, offices, hospitals, malls, and renovation activities. 
  • Europe is the major market for wood coating. The factors driving the growth of wood coating in Europe are increasing disposable income, rising living standards, and the construction industry growth. Also, the increasing number of offices and the growing trend for “work from home” spurs the demand for home furniture.
  • Brazil was the biggest market for wood coating in Latin America in 2020. This is owed to the growing demand for wood coating in the country. 
  • In the Middle East and Africa, there is an increase in the willingness of the consumer to spend on furnishing and decorative items, which is significantly contributing to the growing demand for wooden furniture, flooring, and joineries.

VENDOR ANALYSIS

  • The key vendors in the global wood coatings market are AkzoNobel N.V, Axalta Coating Systems, PPG, Sherwin Williams, and RPM. 
  • The parameters on which vendors compete in the wood protection coatings market are product portfolio, product quality, geographical presence, brand image, cost differentiation, etc.
  • Players are mainly concentrating on developing innovative products by investing in R&D.
  • Other prominent players need to increase their share and presence in developed and emerging economies through business expansion plans and by building a strong partners' network. 

The global wood coatings market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:

By Formulation

  • Solvent-Borne
  • Water-Borne
  • High Solid
  • Powder-Borne
  • UV-Cured

By Coating Type

  • Stain & Varnishes
  • Shellacs
  • Wood Preservatives
  • Water Repellants
  • Others

By End-use

  • Flat Stock Wood
    • Furniture and Cabinetry
    • Paneling & Doors
    • Siding
    • Flooring & Others
  • Wood Finishes
    • Furniture
    • Cabinetry
    • Flooring
    • Others

By Geography

  • North America
    • US
    • Canada
  • Europe
    • Germany
    • France
    • UK
    • Russia
    • Italy
    • Turkey
  • APAC
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • UAE

Frequently Asked Questions

The global wood coating market size was valued at USD 9,665.04 million in 2020 and is expected to reach USD 12,974.56 million by 2026.
The end-use types are flat stock wood (furniture and cabinetry, paneling & doors, siding, and flooring & others) and wood finishes (furniture, cabinetry, flooring, others).
The key players are AkzoNobel N.V, Axalta Coating Systems, PPG, Sherwin Williams, and RPM.
The key driving factors are the impact of the thriving construction industry, growing middle-class population, and rapid urbanization.
APAC is the largest industry in revenue and is expected to witness the highest growth with a CAGR of 5.15% during the forecast period.
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