Wood Coatings Market

Wood Coatings Market Overview (2022 to 2032)

The wood coatings market is anticipated to garner a modest strength with a CAGR of 5.9% from 2022 to 2032.

The key driver of the wood coatings market is the expansion of the housing market as spending on maintenance of decks, fences, flooring, and siding is rising.

Stringent regulations, increased competition, a rise in unique formulations, and new product advancements are some of the reasons driving the growth of the wood coatings industry.

However, the availability of less expensive and higher-quality replacements, such as wood composites and plastic wood, may limit the wood coatings market's growth.

Attributes	Details
Wood Coatings Market Value by 2025	USD 11.7 Billion
Wood Coatings Market CAGR (2022 to 2032)	5.9%

Which is the Key Wood Coatings Market Segment?

Improving consciousness towards aesthetics will drive significant investments in the wood coatings market.

Wood coating applications include interior wood, small furniture, panels, tables, cupboards, chairs, office furniture, kitchen furniture, doors, and staircases among others. There are generally three types of wood coating: evaporative, reactive, and coalescing.

Often, the wood's color is changed by staining, bleaching, or any other techniques. Once the wood surface is prepared and stained, the coating is applied. It usually consists of several coats of shellac, drying oil, paint, wax, or lacquer.

Finally, the surface may be polished using wool, steel, rotten stone, or other materials, depending on the shine desired. In addition, a final coat of wax is applied over the finish to add a degree of protection. Polyurethane finish is also associated with wood coatings.

Furniture, decking, and siding are the three largest applications of wood coatings in value terms. However, smaller doors, windows, and cabinet applications are expected to achieve faster growth in the near future.

Paint is the dominant wood coatings product used on siding, windows, and doors, but stains and sealers are more widely utilized on cabinets, decks, furniture, and flooring. Polyurethane wood finish is predominately used in primers and sealers.

Residential end-user is the largest market for wood protection products, driven by maintenance demand for items such as fences, siding, and decks. Non-residential and non-building use account for a much smaller market for wood protection products.

What Governs the Growth of the Wood Coatings Market?

Rapid urbanization in response to development and population growth has resulted in an increase in housing demand on a huge scale. As a result, the demand for furniture such as chairs, tables, mattresses, sofas, shelves, and cupboards has risen exponentially, thereby surging the demand for wood coatings.

Stringent regulations, rising competition, growth in unique formulations, and new product developments are some of the factors stimulating the growth of the wood coatings market. However, the availability of cheaper and quality substitutes, such as wood composites and plastic wood could hamper the growth of the wood coatings market.

These alternatives are often more durable and require less maintenance as compared to wood products. Although substitutes are available, wood is a primary choice for commercial and residential purposes for clear wood finish due to its wide availability in the market.

Clear coat for wood accounts for the majority of the wood protection demand with paints and stains holding the largest shares. In contrast, preservatives, which are applied to lumber by wood treatment companies, account for a smaller portion of wood protection demand.

Which Region has the Largest Market Share?

Increased demand for personalized home design products, as well as rising customer spending, will act as a major driver for a thick clear coat of wood in North America.

Asia Pacific is currently the largest market for wood coatings, followed by Europe, North America, and the Rest of the world (RoW).

Sustained demand from the developed markets and burgeoning demand from emerging economies will continue to drive the wood coatings market.

The wood coatings market is witnessing a major shift of key market players from Europe and the USA to the emerging economies of Asia Pacific, comprising of China and India.

Scope Of Report

Attributes	Details
Forecast Period	2022 to 2032
Historical Data Available For	2014 to 2020
Market Analysis	USD Billion for Value
By Type	Evaporative, Reactive, Coalescing
By Application	Furniture, Decking, Siding, Smaller Doors, Windows, Cabinets
By Product	Paint, Stains and Sealers
By End Use	Residential, Non-residential
By Region	North America; Latin America; Asia Pacific; Western Europe; Eastern Europe; Middle East & Africa
Key Players	Akzo Nobel Coatings nv (Netherlands); PPG Industries Inc. (USA); Sherwin-Williams Co. (USA); DuPont Coatings and Colour; Technologies Group (USA); ICI Paints (United Kingdom); BASF Coatings AG (Germany); Valspar Corp. (USA)

Key Segment

By Type:

• Evaporative
• Reactive
• Coalescing

By Application:

• Furniture
• Decking
• Siding
• Smaller Doors
• Windows
• Cabinets

By Product:

• Paint
• Stains and Sealers

By End Use:

• Residential
• Non-residential

By Region:

• North America
• Latin America
• Asia Pacific
• Japan
• Western Europe
• Eastern Europe
• Middle East & Africa

Frequently Asked Questions

What is the Current Growth Estimation of Wood Coatings Market?

The wood coatings market was estimated at US$ 9 billion in 2021.

How is the Growth Projection of the Wood Coatings Market?

The wood coatings market is projected to advance at a CAGR of 5.9% from 2022 to 2032.