The global wood coatings market is likely to be valued at US$ 9.7 Billion in FY 2022, up from US$ 9.2 Billion in 2021. During the past year, the industry registered a Y-o-Y increase worth 5.4%. From 2022 to 2032, wood coatings sales are poised to flourish at a CAGR of 6.2% to reach a value of US$ 17.7 Billion by the end of 2032.
Latest industry survey by Fact MR, predicts Solvent-Borne Wood Coatings sales to swell at propelled CAGR through 2031, as chemical and materials sales gradually recover post disruptions caused by COVID-19. The report is aimed at furnishing insights into hidden growth opportunities and challenges. It also provides recommendations to aid businesses prep for unforeseen challenges.
The report offers actionable and valuable market insights of Solvent-Borne Wood Coatings. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Solvent-Borne Wood Coatings Market across various industries and regions.
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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Solvent-Borne Wood Coatings market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Solvent-Borne Wood Coatings
This newly published and insightful report sheds light on Market Insights of Solvent-Borne Wood Coatings, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Solvent-Borne Wood Coatings Market.
Resurgence in residential construction activities and continuance in maintenance work for wood finishing and furniture will propel the wood coatings market to reach a value pool of near US$ 17 Bn by the end of the forecast period (2019-2027). Further, demand for new coatings in construction-related applications will be the primary factor accelerating market growth through 2027.
Wood coatings will achieve significant value gains in interior wood applications such as wooden cabinets and wooden flooring. Water-based coatings account for a majority share in the global wood coating market. Concerns around the release of volatile organic compounds has led to a gradual shift toward water-based coating in applications such as furniture, decking and sliding. On this premise, the global wood coatings market is projected to grow at a CAGR of over 6%
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Key Takeaways of Wood Coatings Market Study
- The trend of water-based coatings is significant in the North American wood coatings market. The increasing awareness among consumers about the usage of eco-friendly coating products is prevailing. Also, UV wood coatings are being used for industrial applications, owing to their fast curing and high production efficiency
- China is currently leading the wood coatings market in the Asia Pacific region. The prime factor for growth lies in its openness to take in new entrants and investors to set up plants and factories there
- A shift in consumer preferences for the adoption of eco-friendly coatings aids in driving the market of water-based coatings
- Furniture segment will witness significant demand gains through 2027, and will see a growth over 6% per annum by end of forecast period
- East Asia to maintain hegemony in the global wood coating market with more than one fourth share owing to increasing construction activities and growth in household maintenance activities
“New housing and increasing maintenance activities will continue to support wood coatings market gains. Formulators have found success with high-performing products such as water-based acrylic coatings for interiors and exterior applications” says the Fact.MR analyst
Manufacturers Leveraging Sustainable & Eco-Friendly Coatings for Increasing Sales
The global wood coatings market is consolidated in nature. Wood coating manufacturers and woodworking manufacturers work closely to cater to the increasing demand for protective coatings from end-users, such as construction, furniture, etc. Wood products manufacturers are now moving to high-performance water-based coatings with a range of curing processes under pressure to reduce pollution and meet shortened lead times. Companies can capitalize on opportunities in Asia Pacific by offering cost-effective and high solids type of wood coatings.
Key Segments
The market is segmented on the basis of product type, coating type, end-use, sales channel and region.
Product Type
- Water-borne
- Solvent-borne
- Powder
Coating Type
- Preservatives
- Stains
- Varnishes
- Shellacs
- Others (Oil, Wax, etc.)
End Use
- Furniture
- Construction
- Marine
- Others
Sales Channel
- Institutional Sales
- Retail Sales
Online Channels
- Home Improvement Stores
- Hardware Stores
- Franchised Paints & Coating Stores
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
This taxonomy and the detailed TOC prepared are confidential and intended exclusively for the individual or entity with whom it is being shared.
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Key Question answered in the survey of Solvent-Borne Wood Coatings market report:
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- Market Analysis of Solvent-Borne Wood Coatings
- Market Insights of Solvent-Borne Wood Coatings
- Key Drivers Impacting the Solvent-Borne Wood Coatings market
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More Valuable Insights on Solvent-Borne Wood Coatings Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Solvent-Borne Wood Coatings, Sales and Demand of Solvent-Borne Wood Coatings, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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