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Wood Coatings Market by Resin Type, Technology, and End Use: Global Opportunity Analysis and Industry Forecast, 2020-2025

  • ID: 4828581
  • Report
  • Region: Global
  • 420 pages
  • Allied Analytics LLP
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The global wood coatings market was valued at $7,800.0 million in 2018, and is projected to reach $11,985.8 million by 2025, growing at a CAGR of 6.3% from 2020 to 2025.

Wood coating refers to the process of refining or protecting a wooden surface, especially in the production of furniture where it represents between 5 and 30% of manufacturing costs. Moreover, the use of wood coating enhances the aesthetic appeal of the wooden object and increases its shelf life, thereby helping in marketing of the product.

Increase in demand for furniture and wooden products drives the need for wood coatings. Owing to the advantages of wood coatings such as enduring surface finish, solvent & scratch resistance, resilience to UV light damage, resistance to general wear & tear, quick drying, superior sanding, and multi-coat & smooth finish application, the demand for wood coatings in the construction and furniture industries is expected to increase considerably. However, major restrains for the growth of the market is the volatile raw material prices and harmful impact of VOCs present in the coatings. Conversely, advancement in coatings technology and surge in use of radiation cure coatings are anticipated to provide new opportunities for the key players.

The wood coatings market is segmented based on resin type, technology, end use, and region. On the basis of resin type, the market is classified into polyurethane, nitrocellulose, acrylic, unsaturated polyester and others. By technology, it is fragmented into waterborne, Conventional Solid solvent borne, high solid solvent borne, powder coating, radiation cured and others. As per end use, it is divided into furniture, joinery, flooring, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The major key players operating in the wood coatings industry include Akzo Nobel N.V., Axalta Coatings Systems, BASF SE, DowDuPont, Eastman Chemical Company, Kansai Paint Co., Ltd., Nippon Paints Holdings Co. Ltd., PPG Industries Inc., RPM International Inc., and Sherwin Williams Company. Other players operating in this market include Ashland Inc., Arkema SA, Hempel A/S, and ICI Paints.

KEY BENEFITS FOR STAKEHOLDERS
  • Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
  • The study outlines the current trends and future scenario of the wood coatings market size from 2020 to 2025 to understand the prevailing opportunities and potential investment pockets.
  • Major countries in the region have been mapped according to their individual revenue contribution to the regional market.
  • The key drivers, restraints, and wood coatings market opportunities and their detailed impact analyses are elucidated in the study.
  • The profiles of key players along with their key strategic developments are enlisted in the report.
KEY MARKET SEGMENTS
  • By Resin Type
Polyurethane
Acrylics
Nitrocellulose
Unsaturated Polyester
Others
  • By Technology
Waterborne
Conventional Solid Solvent Borne
High Solid Solvent Borne
Powder Coating
Radiation Cured
Others
  • By End Use
Furniture
Joinery
Flooring
Others
  • By Region
North America
o U.S.
o Canada
o Mexico
Europe
o Germany
o France
o Spain
o Italy
o UK
o Rest of Europe
Asia-Pacific
o China
o Japan
o India
o South Korea
o Australia
o Rest of Asia-Pacific
LAMEA
o Brazil
o Saudi Arabia
o South Africa
o Rest of LAMEA
Note: Product cover images may vary from those shown
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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 findings
2.1.1. Top investment pockets
2.2. CXO perspective

CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.1.1 Parent Market Overview
3.2. Key Forces Shaping Wood Coating Market
3.2.1. Moderate bargaining power of suppliers
3.2.2. Moderate threat of new entrants
3.2.3. Moderate threat of substitutes
3.2.4. Moderate intensity of rivalry
3.2.5. Low bargaining power of buyers
3.3. Pricing Analysis
3.3.1. Pricing Analysis By Region, 2018 & 2025
3.4. Value Chain Analysis
3.5. Impact of government regulations on global autoimmune disease therapeutics market
3.6. Patent Analysis
3.6.1. By Region (2012-2017)
3.7. Case Studies
3.7.1. Case Study 01
3.7.2. Case Study 02
3.8. Market dynamics
3.8.1. Drivers
3.8.1.1. Surge in construction activities
3.8.1.2. Surge in demand for furniture and joinery
3.8.2. Restraints
3.8.2.1. Volatility in raw materials cost & availability
3.8.2.2. Harmful impact of VOCs present in the coating
3.8.3. Opportunities
3.8.3.1. Advancement in coatings technology
3.8.3.2. Growth in use of radiation cure coatings

CHAPTER 4: WOOD COATINGS 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, by region
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, by region
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, by region
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, by region
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, by region
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, by region
5.2.3. Market analysis by country
5.3. Conventional Solid Solvent Borne
5.3.1. Key market trends, growth factors and opportunities
5.3.2. Market size and forecast, by region
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, by region
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, by region
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, by region
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, by region
5.7.3. Market analysis by country

CHAPTER 6: WOOD COATING MARKET, BY END USE
6.1. Overview
6.1.1. Market size and forecast
6.2. Furniture
6.2.1. Key market trends, growth factors and opportunities
6.2.2. Market size and forecast, by region
6.2.3. Market analysis by country
6.3. Joinery
6.3.1. Key market trends, growth factors and opportunities
6.3.2. Market size and forecast, by region
6.3.3. Market analysis by country
6.5. Flooring
6.5.1. Key market trends, growth factors and opportunities
6.5.2. Market size and forecast, by region
6.5.3. Market analysis by country
6.7. Others
6.7.1. Key market trends, growth factors and opportunities
6.7.2. Market size and forecast, by region
6.7.3. Market analysis by country

CHAPTER 7: WOOD COATING MARKET, BY REGION
7.1. Overview
7.2. North America
7.2.1. Key market trends, growth factors, and opportunities
7.2.2. Market size and forecast, by material
7.2.3. Market size and forecast, by technology
7.2.4. Market size and forecast, by end use
7.2.5. Market share analysis, by country
7.2.6. U.S.
Socio-Economic & Micro-Macro Indicators
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 use
7.2.7. Canada
Socio-Economic & Micro-Macro Indicators
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 use
7.2.8. Mexico
Socio-Economic & Micro-Macro Indicators
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 use
7.3. Europe
7.3.1. Key market trends, growth factors, and opportunities
7.3.2. Market size and forecast, by material
7.3.3. Market size and forecast, by technology
7.3.4. Market size and forecast, by end use
7.3.5. Market share analysis, by country
7.3.6. Germany
Socio-Economic & Micro-Macro Indicators
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 use
7.3.7. France
Socio-Economic & Micro-Macro Indicators
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 use
7.3.8. Italy
Socio-Economic & Micro-Macro Indicators
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 use
7.3.9. Spain
Socio-Economic & Micro-Macro Indicators
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 use
7.3.10. UK
Socio-Economic & Micro-Macro Indicators
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 use
7.3.11. Rest of Europe
Socio-Economic & Micro-Macro Indicators
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 use
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 use
7.4.5. Market share analysis, by country
7.4.6. China
Socio-Economic & Micro-Macro Indicators
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 use
7.4.7. Japan
Socio-Economic & Micro-Macro Indicators
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 use
7.4.8. India
Socio-Economic & Micro-Macro Indicators
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 use
7.4.9. South Korea
Socio-Economic & Micro-Macro Indicators
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 use
7.4.10. Australia
Socio-Economic & Micro-Macro Indicators
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 use
7.4.11. Rest of Asia-Pacific
Socio-Economic & Micro-Macro Indicators
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 use
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 use
7.5.5. Market share analysis, by country
7.5.6. Brazil
Socio-Economic & Micro-Macro Indicators
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 use
7.5.7. Saudi Arabia
Socio-Economic & Micro-Macro Indicators
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 use
7.5.8. South Africa
Socio-Economic & Micro-Macro Indicators
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 use
7.5.9. Rest of LAMEA
Socio-Economic & Micro-Macro Indicators
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 use

CHAPTER 8: COMPETITIVE LANDSCAPE
8.1. INTRODUCTION
8.1.1. MARKET PLAYER POSITIONING, 2017
8.2. TOP WINNING STRATEGIES
8.2.1. Top winning strategies, by year
8.2.2. Top winning strategies, by development
8.2.3. Top winning strategies, by company
8.3. PRODUCT MAPPING OF TOP 10 PLAYER
8.4. COMPETITIVE HEATMAP
8.5. KEY DEVELOPMENTS
8.5.1. New product launches
8.5.2. Expansions
8.5.3. Mergers and acquisition
8.5.4. Other developments

CHAPTER 9: COMPANY PROFILES: WOOD COATING MAKERS
9.1. AKZO NOBEL N.V.
9.1.1. Company overview
9.1.2. Company snapshot
9.1.3. Operating business segments
9.1.4. Product portfolio
9.1.5. R&D Expenditure
9.1.6. Business performance
9.1.7. Key strategic moves and developments
9.2. Axalta Coating Systems
9.2.1. Company overview
9.2.2. Company snapshot
9.2.3. Operating business segments
9.2.4. Product portfolio
9.2.5. R&D Expenditure
9.2.6. Business performance
9.2.7. Key strategic moves and developments
9.3. BASF SE
9.3.1. Company overview
9.3.2. Company snapshot
9.3.3. Operating business segments
9.3.4. Product portfolio
9.3.5. R&D Expenditure
9.3.6. Business performance
9.3.7. Key strategic moves and developments
9.4. DowDuPont INC.
9.4.1. Company overview
9.4.2. Company snapshot
9.4.3. Operating business segments
9.4.4. Product portfolio
9.4.5. R&D Expenditure
9.4.6. Business performance
9.4.7. Key strategic moves and developments
9.5. Eastman Chemical Company
9.5.1. Company overview
9.5.2. Company snapshot
9.5.3. Operating business segments
9.5.4. Product portfolio
9.5.5. R&D Expenditure
9.5.6. Business performance
9.6. Kansai Paint Co., Ltd.
9.6.1. Company overview
9.6.2. Company snapshot
9.6.3. Operating business segments
9.6.4. Product portfolio
9.6.5. R&D Expenditure
9.6.6. Business performance
9.6.7. Key strategic moves and developments
9.7. Nippon Paint Holdings Co., Ltd.
9.7.1. Company overview
9.7.2. Company snapshot
9.7.3. Operating business segments
9.7.4. Product portfolio
9.7.5. Business performance
9.7.6. Key strategic moves and developments
9.8. PPG Industries Inc.
9.8.1. Company overview
9.8.2. Company snapshot
9.8.3. Operating business segments
9.8.4. Product portfolio
9.8.5. R&D Expenditure
9.8.6. Business performance
9.8.7. Key strategic moves and developments
9.9. RPM International Inc.
9.9.1. Company overview
9.9.2. Key Executives
9.9.3. Company snapshot
9.9.4. Operating business segments
9.9.5. Product portfolio
9.9.6. R&D Expenditure
9.9.7. Business performance
9.10. The Sherwin-Williams Company
9.10.1. Company overview
9.10.2. Company snapshot
9.10.3. Operating business segments
9.10.4. Product portfolio
9.10.5. R&D Expenditure
9.10.6. Business performance
9.11. Other Key Player Profile
9.11.1. Key player snapshot

*Full List of Tables and Figures Available on Enquiry.

Note: Product cover images may vary from those shown
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According to this report titled,'Wood Coatings Market by Resin Type, Technology, and End Use: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,'the global wood coatings market was valued at $7,800.0 million in 2018, and is projected to reach $11,985.8 million by 2025, growing at a CAGR of 6.3% from 2018 to 2025.

Wood coatings are used for protecting the wood as well help in giving aesthetic looks. It produces hard surface topcoats and are considered gloss retention, offering good color, high performance and resistance to abrasion from chemicals. Apart from enhancing the aesthetic look, wood coating protect the wood from environmental damage and chemical attacks. Wood coating can be used in interior application and as wells exterior. The exterior wood coating improves the durability, protect the wood from humid climate and increases resistance towards termites attack.

In addition, rapid increase in disposable income of consumers are some of the key factors that supplement the growth of the furniture market. Moreover, increase in preference for smart homes among customers increased the rate of furniture manufacturing. This in turn is expected to drive the need for wood coatings, as they are applied on furniture’s to increase the resistance and durability of the furniture and enhances the visual appearance of the furniture’s. Rise in consumers demand for wooden flooring and joinery that includes cabinets and siding has lead increase in use of wood coatings in construction industry. Furthermore, surge in preference for wood coatings, owing to its high-performance finish that preserve and improve natural wood.

Based on resin type, the market is segmented into polyurethane, nitrocellulose, acrylics, unsaturated polyester and others. The polyurethane resin is widely used owing to the high-performance finish that preserve and improve natural wood. Furthermore, polyurethane wood coating strengthen the properties of wood products providing color and protection.

Based on technology, the market is segmented into waterborne, conventional solid solvent borne, high solid solvent borne, powder coating, radiation cured and others. The conventional solid solvent borne coating has higher demand owing to the low price and quick drying characteristics. The low price of the conventional solid solvent borne wood coatings is due to the easy availability of the hydrocarbon solvent base and providing certain viscosity to the wood coating which help in application of coating to certain objects. All these factors together significantly contribute toward the global wood coatings market growth.
Based on end use, the market is segmented into furniture’s, joinery, flooring and others. The furniture segment is expected to grow due to increase in expenditure power of consumers and improvement in standard of living that has fueled the demand for furniture across developing countries such as China and India. Wood coatings are applied in furniture’s to increase the resistance and durability of the furniture. Furthermore, the wood coating enhances the visual appearance of the furniture’s. This factors are likely to increase the demand of wood coating which positively impacts the wood coatings market.
Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific emerge as a global leader in wood coatings market due to increase in demand for wood coatings in the developing economies such as India and China, owing to development of the construction industries, and increase in users of furniture. This factor is likely to increase the Asia-Pacific wood coatings market size from 2020 to 2025.

Key Findings of the Wood Coatings Market:

The Asia-Pacific wood coatings market share is predicted to hold a share of over 55.52% by the end of 2025.
The conventional solid solvent borne in the technology segment is expected to hold a dominant share of over 31.1% in the global wood coatings market in terms of revenue in 2018, and is predicted to reduce to 30.6% by 2025.

Market players have adopted expansion, acquisition, and collaboration as their key strategies to gain competitive advantage in this market. The key players operating in the wood coatings industry include Akzo Nobel N.V., Axalta Coatings Systems, BASF SE, DowDuPont, Eastman Chemical Company, Kansai Paint Co., Ltd., Nippon Paints Holdings Co. Ltd., PPG Industries Inc., RPM International Inc., and Sherwin Williams Company.
Note: Product cover images may vary from those shown
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The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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