Wood Coating Market Size to Reach Revenues of USD 12.97 Billion by 2026 - Arizton

CHICAGO, Oct. 28, 2021 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this global wood coating market report.

Arizton Logo

The wood coating market is expected to grow at a CAGR of over 5.03% during the period 2020−2026.

Key Highlights Offered in the Report:  

  1. The major driver of wood coating market is the booming housing sector across developed and emerging economies of China and India. Additionally, rapid urbanization, rising disposable income, improvement in standard living, and growing population across developed and emerging economies of China and India are the key factors fueling the demand for modern furniture.
  2. Solvent-borne formulation held the largest share in the wood coating market in 2020 and is growing at a CAGR of 4.86% during the forecast period.
  3. However, due to the government regulation regarding the low VOC content, the industries are moving towards high solid and UV-Cured coating which are less susceptible to VOC.
  4. Furniture, cabinetry, siding, flooring, musical instruments, and paneling are the major areas where wood coatings are widely used to give aesthetic and glossy look to the surface as well as to prevent the wooden surface from termites, UV-rays, dust, satin, and human chemicals.
  5. Furniture industry holds the largest segment in the wood coating market and holds more than 55% of the market share.
  6. APAC is the leading market for wood coating and is projected to continue its dominance during the forecast period.
  7. The prime factors contributing the growth in APAC region is the rapid urbanization, increasing disposable income, and living standard that have significantly contributed to the growth of construction activities, and demand for modern furniture.

Key Offerings:

  • Market Size & Forecast by Revenue | 2020−2026
  • Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
  • Market Segmentation – A detailed analysis by formulation, coating type, end-use, and geography
  • Competitive Landscape – 5 key vendors and 14 other vendors

Get your sample today! https://www.arizton.com/market-reports/wood-coating-market 

Wood Coating Market – Segmentation

  • Solvent-borne coatings are less susceptible to environmental conditions, such as humidity and the environment. Thus, it is preferred for applications in humid environments. Compared with water-borne coatings, solvent coatings cure surfaces due to chemical reactions between the atmospheric oxygen and constitutes water-borne coating.
  • The stain and varnish segment accounted for 58.28% of the market in 2020. It is the largest coating type and is projected to be the fastest-growing market during the forecast period. This is primarily because it renders the most important function of adding color to the timber and enhances the natural characteristics of the timber grain and texture.
  • Solid and high-grade wooden furniture has been one of the most chosen home décor materials. Household furniture and kitchen cabinetry include sofa, table, chair, bed, and cupboard. The furniture and cabinetry segment led the wood coating industry by end-use.

Wood Coating Market by Formulation

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

Wood Coating Market by Coating Type

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

Wood Coating Market by End-use

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

Wood Coating Market – Dynamics

Do it Yourself (DIY) is a major trend strengthening the demand for wood coatings. DIY projects enable enthusiasts to engage in the modification, maintenance, upgrades, and rebuilding of material possessions such as houses and gardens. The global DIY market is primarily dominated by home improvement projects. Over the last few years, engagement in DIY projects has heightened, particularly among the GEN Z. Economical repair and other small projects that improve house interiors is the major factor helping DIY gain traction. Despite the growing interest in concrete and composite, wood is still preferred for exterior architectural uses, including siding, decking, and fencing. Moreover, the main factor contributing to the use of wood coatings is their ability to preserve wooden surfaces from stains, UV rays, rains, and other environmental factors.

Key Drivers and Trends fueling Market Growth:

  • Thriving Construction Industry
  • Growing Middle-Class Population
  • Rapid Urbanization

Wood Coating Market – Geography

North America is the fastest-growing market for wood coating. It is the third-largest market for wood coating and accounted for 12.25% of the total wood coating market. The market for wood coating in North America is expected to witness considerable growth during the forecast period owing to the construction of residential and non-residential buildings such as hotels, offices, hospitals, and malls and renovation activities. Moreover, the new aesthetics of wooden furniture, along with its availability at lower prices and long life, have again gained preference for flooring, cupboard, kitchen cabinetry, decorating, and for other purposes. The demand for engineered wooden furniture is rising in North America because of the increasing demand for smart homes.

Get your sample today! https://www.arizton.com/market-reports/wood-coating-market 

Wood Coating Market 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

Major Vendors

  • AkzoNobel N.V
  • Axalta Coating Systems
  • PPG Industries
  • Sherwin Williams
  • RPM International Inc

Other Prominent Vendors

  • Arkema SA
  • Eastman Chemical Company
  • Angus Chemical Company
  • Lonza Group Ltd.
  • Michelman Inc
  • Cabot Corporation
  • Albermare Corporation
  • The Lubrizol Corporation
  • Solvay Chemicals
  • Kemira
  • Lanxess
  • Croda International Plc
  • Huntsman International
  • Univar Solution Inc 

Explore our chemicals & materials profile to know more about the industry.

Read some of the top-selling reports:

  • Protective Coatings Market - Global Outlook and Forecast 2021-2026
  • Industrial Coatings Market - Global Outlook and Forecast 2021-2026
  • Waterborne Coatings Market - Global Outlook and Forecast 2021-2026
  • Coating Additives Market - Global Outlook and Forecast 2021-2026

About Arizton:

Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.

Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.

Mail: enquiry@arizton.com

Call: +1-312-235-2040

          +1 302 469 0707

Cision View original content:https://www.prnewswire.com/news-releases/wood-coating-market-size-to-reach-revenues-of-usd-12-97-billion-by-2026--arizton-301411304.html

SOURCE Arizton Advisory & Intelligence

News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.