Wood Coatings Market by Resin Type, Technology and End User - Global Opportunity Analysis and Industry Forecast, 2017-2023

  • ID: 4603661
  • Report
  • Region: Global
  • 260 pages
  • Allied Analytics LLP
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Wood Coatings Market by Resin Type (Polyurethane, Nitrocellulose, Acrylic, Unsaturated Polyester, and Others), Technology (Waterborne, Conventional Solvent Borne, High Solid Solvent Borne, Powder Coating, Radiation Cured, and Others) and End User (Furniture, Cabinet, Siding, Flooring, Paneling, and Others) - Global Opportunity Analysis and Industry Forecast, 2017-2023

Wood coatings are widely used in the protection and refinement of wood or wood-made structures. Protecting the wooden surface helps increase their utilization properties. The use of wood coating also enhances the visual cues of the wooden object, thereby helping in marketing of the product. There are various types of wood coatings available in the market depending on the technology used to manufacture the wood coating. Strict environmental rules imposed by the government & other regulatory bodies has made manufacturers cut down on the use of VOCs in the production of wood coating.

Surge in construction activities across the world drive the growth of the global wood coatings market. There is an increase in the demand for wood products owing to the high investments made for infrastructure development and urbanization in the developing countries. This boosts the growth of the market. Furthermore, recovery of global economy is anticipated to boost the global wood coatings market during the forecast period. However, volatile raw material prices and harmful impact of VOCs present in the coating restrict the market growth. Conversely, the advancement in coatings technology and growth in use of radiation cure coatings are anticipated to provide new opportunities for the key players.

The report segments the wood coatings market based on resin type, technology, end user, and region. Based on resin type, the market is divided into polyurethane, nitrocellulose, acrylics, unsaturated polyester, and others. Based on technology, the market is classified into waterborne, conventional solvent borne, high solid solvent borne, powder coating, radiation cured, and other. Based on end user, the market is categorized into furniture, cabinet, siding, flooring, paneling, and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players operating in the market include Akzo Nobel N.V, BASF SE, Nippon Paint Holding Co., PPG Industries, Inc., RPM International Inc., The Sherwin Williams Company, The Dow Chemical Company, Valspar Corp., Benjamin Moore & Co., and Hempel A/S.

KEY BENEFITS:

Porters Five Force's analysis helps analyze the potential of buyers and suppliers and the competitive scenario of the industry for strategy building.
It outlines the current trends and future scenario of the wood coatings market from 2017 to 2023 to understand the prevailing opportunities and potential investment pockets.
Major countries in each region are mapped according to their individual revenue contribution to the global/regional market.
An in-depth analysis of the current R&D within the market is provided along with the key dynamic factors.
The key drivers, restrains, and opportunities and their detailed impact analyses are elucidated in the study.
The profiles of the key players along with their key strategic developments are enlisted in the report.

KEY MARKET SEGMENTS:

By Resin Type

Polyurethane
Acrylic
Nitrocellulose
Unsaturated Polyester
Others

By Technology

Waterborne
Conventional Solvent Borne
High Solid Solvent Borne
Powder Coating
Radiation Cured
Others

By End User

Furniture
Cabinet
Siding
Flooring
Paneling
Others

By Region

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
LAMEA
Brazil
Argentina
South Africa
Turkey
Rest of LAMEA
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CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key benefits for stakeholders
1.3. Key market segments
1.4. Research methodology
1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key finding of the study
2.2. CXO perspective

CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pocket
3.2.2. Top winning strategies
3.3. Porter's five forces analysis
3.3.1. Bargaining power of suppliers
3.3.2. Bargaining power of buyer
3.3.3. Thereat of new entrants
3.3.4. Threat of substitute
3.3.5. Intensity of competitive rivalry
3.4. Market dynamics
3.4.1. Drivers
3.4.1.1. Surge in construction activities
3.4.1.2. Recovery of global economy
3.4.2. Restraints
3.4.2.1. Volatility in raw materials cost & availability
3.4.2.2. Harmful impact of VOCs present in the coating
3.4.3. Opportunities
3.4.3.1. Advancement in coatings technology
3.4.3.2. Growth in use of radiation cure coatings
3.5. Top player positioning

CHAPTER 4: WOOD COATING MARKET, BY RESIN TYPE
4.1. Overview
4.1.1. Market size and forecast
4.2. Polyurethane
4.2.1. Key market trends, growth factors, and opportunities
4.2.2. Market size and forecast
4.2.3. Market analysis by country
4.3. Acrylic
4.3.1. Key market trends, growth factors, and opportunities
4.3.2. Market size and forecast
4.3.3. Market analysis by country
4.4. Nitrocellulose
4.4.1. Key market trends, growth factors, and opportunities
4.4.2. Market size and forecast
4.4.3. Market analysis by country
4.5. Unsaturated polyester
4.5.1. Key market trends, growth factors, and opportunities
4.5.2. Market size and forecast
4.5.3. Market analysis by country
4.6. Others
4.6.1. Key market trends, growth factors, and opportunities
4.6.2. Market size and forecast
4.6.3. Market analysis by country

CHAPTER 5: WOOD COATING MARKET, BY TECHNOLOGY
5.1. Overview
5.1.1. Market size and forecast
5.2. Waterborne
5.2.1. Key market trends, growth factors, and opportunities
5.2.2. Market size and forecast
5.2.3. Market analysis by country
5.3. Conventional solvent borne
5.3.1. Key market trends, growth factors, and opportunities
5.3.2. Market size and forecast
5.3.3. Market analysis by country
5.4. High solid solvent borne
5.4.1. Key market trends, growth factors, and opportunities
5.4.2. Market size and forecast
5.4.3. Market analysis by country
5.5. Powder Coating
5.5.1. Key market trends, growth factors, and opportunities
5.5.2. Market size and forecast
5.5.3. Market analysis by country
5.6. Radiation cured
5.6.1. Key market trends, growth factors, and opportunities
5.6.2. Market size and forecast
5.6.3. Market analysis by country
5.7. Others
5.7.1. Key market trends, growth factors, and opportunities
5.7.2. Market size and forecast
5.7.3. Market analysis by country

CHAPTER 6: WOOD COATING MARKET, BY END USER
6.1. Overview
6.1.1. Market size and forecast
6.2. Furnitures
6.2.1. Key market trends, growth factors, and opportunities
6.2.2. Market size and forecast
6.2.3. Market analysis by country
6.3. Cabinets
6.3.1. Key market trends, growth factors, and opportunities
6.3.2. Market size and forecast
6.3.3. Market analysis by country
6.4. Siding
6.4.1. Key market trends, growth factors, and opportunities
6.4.2. Market size and forecast
6.4.3. Market analysis by country
6.5. Flooring
6.5.1. Key market trends, growth factors, and opportunities
6.5.2. Market size and forecast
6.5.3. Market analysis by country
6.6. Paneling
6.6.1. Key market trends, growth factors, and opportunities
6.6.2. Market size and forecast
6.6.3. Market analysis by country
6.7. Others
6.7.1. Key market trends, growth factors, and opportunities
6.7.2. Market size and forecast
6.7.3. Market analysis by country

CHAPTER 7: WOOD COATINGS MARKET, BY REGION
7.1. Overview
7.1.1. Market size and forecast
7.2. North America
7.2.1. Key market trends, growth factors, and opportunities
7.2.2. Market size and forecast, by Resin Type
7.2.3. Market size and forecast, by Technology
7.2.4. Market size and forecast, by End User
7.2.5. Market size and forecast, by country
7.2.6. U.S.
7.2.6.1. Market size and forecast, by Resin Type
7.2.6.2. Market size and forecast, by Technology
7.2.6.3. Market size and forecast, by End User
7.2.7. Canada
7.2.7.1. Market size and forecast, by Resin Type
7.2.7.2. Market size and forecast, by Technology
7.2.7.3. Market size and forecast, by End User
7.2.8. Mexico
7.2.8.1. Market size and forecast, by Resin Type
7.2.8.2. Market size and forecast, by Technology
7.2.8.3. Market size and forecast, by End User
7.3. Europe
7.3.1. Key market trends, growth factors, and opportunities
7.3.2. Market size and forecast, by Resin Type
7.3.3. Market size and forecast, by Technology
7.3.4. Market size and forecast, by End User
7.3.5. Market size and forecast, by country
7.3.6. UK
7.3.6.1. Market size and forecast, by Resin Type
7.3.6.2. Market size and forecast, by Technology
7.3.6.3. Market size and forecast, by End User
7.3.7. Germany
7.3.7.1. Market size and forecast, by Resin Type
7.3.7.2. Market size and forecast, by Technology
7.3.7.3. Market size and forecast, by End User
7.3.8. France
7.3.8.1. Market size and forecast, by Resin Type
7.3.8.2. Market size and forecast, by Technology
7.3.8.3. Market size and forecast, by End User
7.3.9. Italy
7.3.9.1. Market size and forecast, by Resin Type
7.3.9.2. Market size and forecast, by Technology
7.3.9.3. Market size and forecast, by End User
7.3.10. Spain
7.3.10.1. Market size and forecast, by Resin Type
7.3.10.2. Market size and forecast, by Technology
7.3.10.3. Market size and forecast, by End User
7.3.11. Rest of Europe
7.3.11.1. Market size and forecast, by Resin Type
7.3.11.2. Market size and forecast, by Technology
7.3.11.3. Market size and forecast, by End User
7.4. Asia-Pacific
7.4.1. Key market trends, growth factors, and opportunities
7.4.2. Market size and forecast, by Resin Type
7.4.3. Market size and forecast, by Technology
7.4.4. Market size and forecast, by End User
7.4.5. Market size and forecast, by country
7.4.6. China
7.4.6.1. Market size and forecast, by Resin Type
7.4.6.2. Market size and forecast, by Technology
7.4.6.3. Market size and forecast, by End User
7.4.7. India
7.4.7.1. Market size and forecast, by Resin Type
7.4.7.2. Market size and forecast, by Technology
7.4.7.3. Market size and forecast, by End User
7.4.8. Japan
7.4.8.1. Market size and forecast, by Resin Type
7.4.8.2. Market size and forecast, by Technology
7.4.8.3. Market size and forecast, by End User
7.4.9. Vietnam
7.4.9.1. Market size and forecast, by Resin Type
7.4.9.2. Market size and forecast, by Technology
7.4.9.3. Market size and forecast, by End User
7.4.10. Australia
7.4.10.1. Market size and forecast, by Resin Type
7.4.10.2. Market size and forecast, by Technology
7.4.10.3. Market size and forecast, by End User
7.4.11. Rest of Asia-Pacific
7.4.11.1. Market size and forecast, by Resin Type
7.4.11.2. Market size and forecast, by Technology
7.4.11.3. Market size and forecast, by End User
7.5. LAMEA
7.5.1. Key market trends, growth factors, and opportunities
7.5.2. Market size and forecast, by Resin Type
7.5.3. Market size and forecast, by Technology
7.5.4. Market size and forecast, by End User
7.5.5. Market size and forecast, by country
7.5.6. Brazil
7.5.6.1. Market size and forecast, by Resin Type
7.5.6.2. Market size and forecast, by Technology
7.5.6.3. Market size and forecast, by End User
7.5.7. Argentina
7.5.7.1. Market size and forecast, by Resin Type
7.5.7.2. Market size and forecast, by Technology
7.5.7.3. Market size and forecast, by End User
7.5.8. South Africa
7.5.8.1. Market size and forecast, by Resin Type
7.5.8.2. Market size and forecast, by Technology
7.5.8.3. Market size and forecast, by End User
7.5.9. Turkey
7.5.9.1. Market size and forecast, by Resin Type
7.5.9.2. Market size and forecast, by Technology
7.5.9.3. Market size and forecast, by End User
7.5.10. Rest of LAMEA
7.5.10.1. Market size and forecast, by Resin Type
7.5.10.2. Market size and forecast, by Technology
7.5.10.3. Market size and forecast, by End User

CHAPTER 8: COMPANY PROFILES
8.1. AKZO NOBEL N.V
8.1.1. Company overview
8.1.2. Company snapshot
8.1.3. Operating business segments
8.1.4. Business performance
8.1.5. AKZO NOBEL N.V. revenue by region
8.1.6. Key strategic moves and developments
8.2. Axalta Coating Systems
8.2.1. Company overview
8.2.2. Company snapshot
8.2.3. Operating business segments
8.2.4. Business performance
8.2.5. Key strategic moves and developments
8.3. BASF SE
8.3.1. Company overview
8.3.2. Company snapshot
8.3.3. Operating business segments
8.3.4. Business performance Key strategic moves and developments
8.4. Benjamin Moore & Co
8.4.1. Company overview
8.4.2. Company snapshot
8.4.3. Operating business segments
8.5. Nippon Paint Holding Co.
8.5.1. Company overview
8.5.2. Company snapshot
8.5.3. Operating business segments
8.5.4. Business performance
8.5.5. Key strategic moves and developments
8.6. PPG Industries, Inc.
8.6.1. Company overview
8.6.2. Company snapshot
8.6.3. Operating business segments
8.6.4. Business performance
8.7. RPM International Inc.
8.7.1. Company overview
8.7.2. Company snapshot
8.7.3. Operating business segments
8.7.4. Business performance
8.7.5. Key strategic moves and developments
8.8. The Sherwin Williams Company
8.8.1. Company overview
8.8.2. Company snapshot
8.8.3. Operating business segments
8.8.4. Business performance
8.9. The Dow Chemical Company
8.9.1. Company overview
8.9.2. Company snapshot
8.9.3. Operating business segments
8.9.4. Business performance
8.9.5. Key strategic moves and developments
8.10. Teknos Group Oy
8.10.1. Company overview
8.10.2. Company snapshot
8.10.3. Operating business segments
8.10.4. Key strategic moves and developments
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According to a new report titled, Wood Coating Market by Material and Application: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global wood coating market was valued at $7,850 million in 2016, and is projected to reach $11,880 million by 2023, growing at a CAGR of 6.3% from 2017 to 2023. The furniture segment accounted for more than 59% share of the global wood coating market in 2016.

Wood coatings are used for protecting the wood as well as provide aesthetic looks. Wood coating produces hard surface topcoats and are considered to retain gloss, offer good color, deliver high performance, and resist abrasion from chemicals. Waterborne, solvent borne, and high solid materials are three major types of wood coating technologies used by the market players. Different technologies and various resin systems used in wood coating have their own set of advantages and disadvantages.

Based on resin type, the market is segmented into polyurethane, nitrocellulose, acrylic, unsaturated polyester, and others. The polyurethane segment is projected to be the most lucrative segment from 2017 to 2023 owing to the high-performance finish that preserves and improves natural wood. Furthermore, polyurethane wood coating strengthens the properties of wood products providing color and protection.

Based on technology, the market is divided into waterborne, conventional solvent borne, high solid solvent borne, powder coating, radiation cured, and others. The waterborne wood coating segment is projected to be the most lucrative segment from 2017 to 2023 owing to low toxicity due to low VOCs content. Stringent policies are imposed by the government on the use of VOCs in paints and coatings, which boosts the growth of the waterborne wood coating segment in the market. However, the low drying rate and high price of waterborne coatings as compared to solvent borne wood coating are expected to hinder the market growth.

Based on end user, the market is classified into furniture, cabinet, siding, flooring, paneling, and others. The cabinet segment is estimated to grow at the highest CAGR during the forecast period. There is a boost in the demand for cabinets owing to the growth of the housing market. This in turn is anticipated to increase the demand for wood coatings used in cabinets. Furthermore, at present, the restoration of old cabinet fuels the requirement for wood coating.

Key Findings of the Wood Coating Market:

The waterborne wood coating segment is expected to grow at a significant CAGR of 7.9%, in terms of value, from 2017 to 2023.
The polyurethane segment is projected to grow at a CAGR of 6.8%, in terms of value.
The wood coating market in North America is expected to grow at the highest CAGR of 7.9%, in terms of value.
The Asia-Pacific wood coatings market accounted for more than 54% share in 2016.
U.S. accounted for more than 56% of the North America market in 2016.

In 2016, Asia-Pacific and Europe collectively accounted for more than 83% of the global wood coating industry, in terms of value. Population in Asia-Pacific and Europe use wood for the construction of the houses. This in turn boosts the consumption of wood coatings. Furthermore, European Union economy experiences significant growth since the euro crisis due to the increase in tourism, growth in employment, promotion of fair trade policies with minimal tariff, increase in industrialization & urbanization, and others.

The major companies profiled in this report are Akzo Nobel N.V, BASF SE, Nippon Paint Holding Co., PPG Industries, Inc., RPM International Inc., The Sherwin Williams Company, The Dow Chemical Company, Valspar Corp., Benjamin Moore & Co., and Hempel A/S.
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