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Global Wood Coating Market Insight2022-01-26 Comments
The Wood Coating is forecast to steady growth over the next four years. According to the WK-chem Research “Global Wood Coating Professional Survey Report 2022, Forecast to 2027”, With the construction industry and economic development,the Wood Coating industry is developing at an incredible speed. The compound annual growth rate (CAGR) for the 2022-2027 period is projected to be 6.38% base on WK-chem Research regression analysis model.
“The continued shift to water-based and UV-curable coatings is expected to aid the adoption of such products.“said Jimmy Joy, Senior analyst, Chemicals & Materials Market Research Center in WK-chem Research.
Wood coatings are widely used for the protection and refinement of wood or wooden structures. It helps prolong product life. In addition, the use of wood coatings enhances the visual cues of wooden objects, thereby helping the marketing of the product. Meanwhile, increasing disposable income of consumers and rising living standards in developing economies such as India and China are key factors driving the demand for modern furniture, which in turn is expected to drive the demand for wood coatings. Furthermore, with the significant growth in the housing and real estate market, this has had a positive impact on the demand for joinery. These factors drive the development of the industry market.
However, factors such as stringent environmental regulations imposed by the government and other regulatory agencies on the use of volatile organic compounds (VOCs) in the production of wood coatings are hindering the growth of the wood coatings market. This is due to the fact that the increased use of VOCs in the production of wood coatings can have a detrimental impact on the environment. Moreover, fluctuations in raw material prices hinder the growth of the wood coatings market.
This WKI market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading Wood Coating companies that include BASF SE, Akzo Nobel N.V., The Dow Chemical Company,Sherwin-Williams Company and others.
Segmentation of Wood Coating Market:
According to the type, the market for Wood Coating is divided into solvent-borne, water-borne, UV-cured, and others.The solvent-based segment accounts for the major market share. This is especially true for the furniture industry where the demand for solvent-based products is high.According to resin, the Wood Coating market is divided into Polyurethane, nitrocellulose, acid curing, polyester and others.Polyurethane dominates the market and its use provides wood surfaces with special finishes that cannot be surpassed in terms of surface hardness, chemical resistance and mechanical resistance. Because of these properties, they are most commonly used in wood treatment. Using a polyurethane parquet coating ensures better resistance.According to application, the Wood Coating market is divided into Furniture and Fixtures，Doors and Windows，Cabinets and others.Furniture and Fixtures dominate a segment of the market,Painting solid wood furniture not only ensures that the properties and characteristics of the solid wood material are successfully maintained, but also enhances the attractiveness of its ornamental texture, while protecting the health of consumers by preventing the sawdust on the furniture from scratching the customer’s hands.
Wood Coating Market: Regional Analysis
In terms of geography, the global Wood Coating market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa.North America is currently the leading regional market for Wood Coating due to significant growth in public and private investment in the construction sector.The Asia Pacific market is expected to grow with the highest CAGR.Due to rising investments in the residential and commercial sectors and government initiatives are driving the market.
Largest share area：North America
Largest share country：the Unite States
Product Type：Polyurethane, nitrocellulose, acid curing, polyester and others.
Application：Furniture and Fixtures，Doors and Windows，Cabinets and others.
Leading Company：BASF SE, Akzo Nobel N.V., The Dow Chemical Company,Sherwin-Williams Company.