Dublin, Dec. 16, 2021 (GLOBE NEWSWIRE) -- The "Wood Coating Market - Global Outlook & Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Wood Coating Market Report
The global wood coating market was valued at USD 9,665.04 million in 2020 and is expected to reach USD 12,974.56 million by 2026, growing at a CAGR of 5.03% during the forecast period.
The following factors are likely to contribute to the growth of the wood coating market during the forecast period:
- Impact of thriving construction industry
- Growing middle-class population
- Rapid Urbanization
Market Overview
The demand for wood coating solutions is increasing at a rapid rate in every region. The rising living standards, growing disposable income, rapid urbanization, and substantial investment by the government contribute to the accelerated growth of the construction industry. This is positively impacting the demand for cabinets, sidings, flooring, beds, cupboards, tables, and other furniture, thus impacting the growth of wood coating. Major changes are happening in the global coating industry. The continuous adoption of coating technologies to offer better products every time is one such changing trend in the global industry.
Key Highlights
- APAC is the leading market for wood coating and accounted for 56.56% of the market in 2020.
- Solvent-borne formulation holds the largest share in the wood coating market in 2020 and is growing at a CAGR of 4.86% during the forecast period.
- UV cured formulation holds 8.05% of the share and is expected to grow at a CAGR of 4.56% between 2020 and 2026.
Market Segments
- Solvent-borne coatings are less prone to environmental conditions such as humidity and high temperatures. Thus, they are preferred more for applications in humid environments that don't allow water-borne coatings to cure correctly.
- The global stain and varnish wood coating market are expected to reach USD 7,706.47 million by 2026 growing with a CAGR of 5.36%. Varnishes give very good UV protection, while wood stain finish changes or improves the wood color and the visibility of the grains.
Segmentation By Formulation
- Solvent-Borne
- Water-Borne
- High Solid
- Powder-Borne
- UV Cured
Segmentation by Coating Type
- Stain & Varnishes
- Shellacs
- Wood Preservatives
- Water Repellants
- Others
Segmentation by End-use
- Flat Stock Wood
- Furniture and Cabinetry
- Paneling & Doors
- Siding
- Flooring & Others
- Wood Finishes
- Furniture
- Cabinetry
- Flooring
- Others
Vendor Analysis
- The key vendors in the global wood coatings market are AkzoNobel N.V, Axalta Coating Systems, PPG, Sherwin Williams, and RPM.
- The parameters on which vendors compete in the wood protection coatings market are product portfolio, product quality, geographical presence, brand image, cost differentiation, and others.
Key Vendors
- AkzoNobel N.V
- Axalta Coating Systems
- PPG Industries
- Sherwin Williams
- RPM International Inc
Other Prominent Vendors
- Arkema SA
- Eastman Chemical Company
- Angus Chemical Company
- Lonza Group Ltd.
- Michelman Inc
- Cabot Corporation
- Albermare Corporation
- The Lubrizol Corporation
- Solvay Chemicals
- Kemira
- Lanxess
- Croda International Plc
- Huntsman International
- Univar Solution Inc
Key Questions Answered:
1. How big is the wood coating market?
2. What are the various end-use types in the global wood coatings market?
3. Who are the key players in the wood coating industry?
4. What are the key driving factors for the wood coatings market?
5. Which region has the highest growth rate in the wood coating market?
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope Of The Study
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7 Introduction
7.1 Overview
7.2 Industry FAQ
8 Opportunity Analysis
8.1 Formulation
8.2 Coating Type
8.3 End-Use
8.4 Geography
9 Market Opportunities & Trends
9.1 Thriving Construction Industry
9.2 Growing Middle-Class Population
10 Market Growth Enablers
10.1 Rapid Urbanization
10.2 Rise In DIY Homeowners
11 Market Restraints
11.1 Increasing Environmental Regulation
11.2 High Cost Of Raw Materials
12 Market Landscape
12.1 Market Overview
12.2 Market Size & Forecast
12.3 Five Forces Analysis
13 Formulation
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Solvent-Borne
13.4 Water-Borne
13.5 UVCured
13.6 Powder-Borne
13.7 High-Solid
14 Coating Type
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.4 Stain & Varnish
14.5 Shellac
14.6 Wood Preservative
14.7 Water Repellents
14.8 Others
15 End-Use
15.1 Market Snapshot & Growth Engine
15.2 Market Overview
15.3 Furniture & Cabinetry
15.4 Paneling & Doors
15.5 Siding
15.6 Flooring
15.7 Others
16 Geography
16.1 Market Snapshot & Growth Engine
16.2 Geographic Overview
17 North America
17.1 Market Overview
17.2 Formulation
17.3 Coating
17.4 End-Use
17.5 Key Countries
18 Latin America
18.1 Market Overview
18.2 Formulation
18.3 Coating
18.4 End-Use
18.5 Key Countries
19 Middle East & Africa
19.1 Market Overview
19.2 Formulation
19.3 Coating Type
19.4 End-Use
19.5 Key Countries
20 APAC
20.1 Market Overview
20.2 Formulation
20.3 Coating
20.4 End-Use
20.5 Key Countries
21 Europe
21.1 Market Overview
21.2 Formulation
21.3 Coating
21.4 End-Use
21.5 Key Countries
22 Competitive Landscape
22.1 Competition Overview
23 Key Company Profiles
23.1 Akzo Nobel N.V
23.2 AXALTA COATING SYSTEM
23.3 PPG Industries
23.4 SHERWIN WILLIAMS
23.5 RPM International
24 OTHER PROMINENT VENDORS
24.1 ARKEMA
24.2 EASTMAN CHEMICAL COMPANY
24.3 ANGUS CHEMICAL COMPANY
24.4 LONZA
24.5 MICHELMAN, INC
24.6 CABOT CORPORATION
24.7 ALBEMARLE CORPORATION
24.8 THE LUBRIZOL CORPORATION
24.9 SOLVAY
24.10 KEMIRA
24.11 LANXESS
24.12 CRODA INTERNATIONAL
24.13 HUNTSMAN INTERNATIONAL
24.14 UNIVAR SOLUTIONS INC
25 Report Summary
25.1 Key Takeaways
25.2 Strategic Recommendations
26 Quantitative Summary
26.1 FORMULATION
26.2 COATING TYPE
26.3 END-USE
27 Geography
27.1 NORTH AMERICA
27.2 EUROPE
27.3 APAC
27.4 LATIN AMERICA
27.5 MIDDLE EAST & AFRICA
28 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/v3pzh1
