Global Wood Coatings Resins Market Share is Likely to Grow at a CAGR Value of 5.20% By 2028

05-Sep-2022 | Facts and Factors

According to Facts and Factors, the global wood coatings resins market size was worth USD 3.9 billion in 2021 and is estimated to grow to USD 5.3 billion by 2028, with a compound annual growth rate (CAGR) of approximately 5.20% over the forecast period. The report analyzes the wood coatings resins market's drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the wood coatings resins market.

Wood coating resins are organic compounds used for commercial and domestic reasons. They add attractive and durable coats to furniture to protect it from harsh weather conditions while also adding aesthetic appeal. These coatings are made of different copolymers and polymers of acrylic and urethane. These coatings are widely applied to siding, decking, and furniture. The industry has witnessed numerous technological breakthroughs and improvements to provide eco-friendly substitutes for solvent-based wood finishing resins. The market for wood coating resins will soon introduce new resin types such as water-borne and UV-curable systems. The demand for wood coating resins is predicted to increase with a substantial CAGR during the forecast period due to positive developments in the construction industry.

Browse the full “Wood Coatings Resins Market Size, Share, Growth Analysis Report By Resin Type (Polyurethane, Acrylic, Epoxy, Alkyd, Nitrocellulose, Polyester, Others), By Technology (Solvent-borne, High solids, Radiation cure, Waterborne, Powder), By Application (Furniture, Cabinets, Doors & windows, Flooring, Decoration, and Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/wood-coatings-resins-market

The global wood coating resins market is anticipated to expand at a moderate rate due to the number of new homes built in all geographical areas. In addition, a sizable portion of demand is anticipated to come from the upkeep of already-existing wood products, which is anticipated to increase demand for wood coating resins. The worldwide market for wood coating resins is expected to have increased sales due to the growing demand for decorative wood coatings. The growing popularity of DIY boxes in developed countries is also predicted to increase demand for wood coating resins because individuals will feel compelled to periodically upgrade the looks of their furniture when they see these products offered in retail stores. Additionally, throughout the projection period, a rise in the number of new environmentally friendly goods and enhanced UV protection coatings is anticipated to revitalize demand for wood coating resins sustainably. People's preferences for furniture made of wood are predicted to change, which is expected to limit development rates in the market for wood coating resins as well. In addition, declining demand from mature application sectors, including railroad goods and utility poles, is anticipated to restrain market expansion for wood coating resins.

The global wood coatings resins market is segregated based on resin type, technology, application, and region. Based on resin type, the market is segmented into polyurethane, acrylic, epoxy, alkyd, nitrocellulose, polyester, and others. Acrylic segment dominated the market in 2021. Based on technology, the market is segmented into solvent-borne, high-solids, radiation cure, water-borne, and powder. Powder segment dominated the market in 2021. Based on application, the market is segmented into furniture, cabinets, doors & windows, flooring, decoration, and others. Among these, the furniture segment dominated the market in 2021.

The global wood coatings resins market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. It is commonly known that Asia-Pacific was a major producer and user of coating resins in 2021. Asia-Pacific is home to a wide range of economies at different growth phases. The region's rapid economic growth and significant investments in sectors including the automobile, consumer goods & appliances, building & construction, and furnishings are largely responsible for the region's prosperity. The top manufacturers of coating resins are expanding their capacities throughout, especially in China and India. Lower manufacturing costs, the accessibility of skilled & affordable labor, and the possibility to better service the developing regional market are all advantages of moving production.

Report Scope

Key players in the global wood coatings resins market include Arkema S.A., Nuplex Industries Limited, Koninklijke DSM N.V., Allnex S.à.r.l., Synthopol Chemie Dr. rer. pol. Koch GmbH & Co. KG, Dynea AS, Polynt Spa, Sirca Spa, IVM Group, and Helios Group.

Recent Development:

• April 2021: With immediate effect, Azelis announced a new distribution agreement with BASF for dispersions, additives, and resins throughout Australia and New Zealand (ANZ). The products covered by the agreement are extensively used in construction applications and coatings, adhesives, sealants, and elastomers (CASE).

Global Wood Coatings Resins Market is segmented as follows:

By Resin Type

• Polyurethane
• Acrylic
• Epoxy
• Alkyd
• Nitrocellulose
• Polyester
• Others

By Technology

• Solvent-borne
• High solids
• Radiation cure
• Waterborne
• Powder

By Application

• Furniture
• Cabinets
• Doors & windows
• Flooring
• Decoration
• Others

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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