Wood coating Market by Player, Region, Type, Application and Sales Channel 2018-2026

Wood coating is commonly used to protect and refine wood or wood-made constructions. It contributes to the product's longevity. Furthermore, the application of wood finishing improves the visual signals of wooden objects, assisting in product promotion. The market is divided into technological segments such as waterborne, conventional solid solvent borne, high solid solvent borne, powder coating, radiation cured, and others. Because of their low cost and quick drying qualities, traditional solid solvent borne coatings are in high demand.

Increased consumer disposable income and improved living standards in developing nations such as India and China are significant drivers driving demand for modern furniture, which is likely to stimulate demand for wood coatings. Furthermore, the housing and real estate markets are experiencing tremendous growth, which is favourably impacting the demand for joinery. Cabinets and sidings are examples of joinery. These variables are having a beneficial impact on market growth.

However, factors such as stringent environmental rules imposed by the government & other regulatory bodies on the use of volatile organic compounds (VOC) in the production of wood coating hamper the growth of the wood coatings market. This is attributed to the fact that increased use of VOCs in the production of wood coatings has harmful impact on environment. In addition, volatile raw material prices hinders the wood coatings market growth. On the other hand, advancement in coatings technology and surge in use of radiation cure coatings are some of the factors that provide lucrative opportunities in the wood coating market.

The wood coatings market is segmented based on resin type, technology, end use, and region. Depending on resin type, the market is classified into polyurethane, nitrocellulose, acrylic, unsaturated polyester, and others. By technology, it is fragmented into waterborne, solvent borne, high solid solvent borne, powder coating, radiation cured, and others. As per end use, it is segregated into furniture, joinery, flooring, and others. The wood coating market is segmented based on region including North America (U.S., Canada, Mexico), Europe (UK, Germany, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, Rest of LAMEA).