Wood Coatings Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2016–2024

Wood coatings are additives or mixtures that are added to the end wood product primarily to preserve the overall quality (durability, color and texture) of the finished item. The coating is applied after the wood surface is stained and prepared. The process of applying coating to a finished wood product is known as wood finishing. Finishing is the last step of the production process and provides desirable characteristics such as moisture resistance, heat resistance, increased durability, and enhanced appearance to the wood surface. Finishing also helps in keeping the end product sanitized and easier to maintain.

Manufacturers of wooden furniture and related furnishing resort to wood finishing to provide low-cost wood with an appearance and texture that makes it look like a higher end wood item. These products are mainly intended for sales in price-sensitive markets such as Asia Pacific and Latin America. According to a study conducted by Coherent Market Insights (2016), around 68% of the population in India is inclined towards buying low-priced wood items that look premium. These consumers do not lay emphasis on the quality of the wood and mainly focus on aesthetic appeal.

Wood Coatings Market Taxonomy

On the basis of product type, the global market is segmented into:

  • Shellac
  • Wood Preservatives
  • Water Repellents
  • Stains
  • Linseed Oil
  • Beeswax and Carnauba wax mixtures
  • Acrylic Paint
  • Others

On the basis of application, the global market is segmented into:

  • Furniture
  • Siding
  • Flooring
  • Decking
  • Door
  • Cabinets
  • Others

On the basis of finishing processes, the global market is segmented into:

  • Vacuum Coatings
  • Spray Coatings
  • Brush Coatings
  • Others

On the basis of geography, the global market is segmented into:

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • Italy
    • France
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
  • Africa
    • Northern Africa
    • Central Africa
    • South Africa

Wood Coatings Market Outlook – Growing Construction Industry Is Fueling Market Growth

Growing construction sector coupled with increasing population is estimated to boost the global wood coatings market over the forecast period. According to a study conducted by Coherent Market Insights, the global construction industry is projected to be pegged at over US$ 15 trillion by 2024, with Asia Pacific positioned as the growth engine (the regional market is expected to witness a massive 30% CAGR over 2016–2024). Growing population is a key factor towards the growth of the construction industry. Wood is one of the most widely used materials in the retail sector. Major retail players focus on effective merchandising of products at retail outlets. These products are usually propped up on wooden shelves and displays. Thus, rapid growth of retail industry is also fueling growth of the wood coatings market.

Asia Pacific is expected to retain its dominance in the global wood coatings market throughout the forecast period. Conversely, health issues associated with the coating ingredients is one of the major restraining factors for the growth of the wood coatings industry. Coatings when in direct contact may lead to health issues such as skin and eye irritation and asthma. In addition, when in constant contact with air and sun the coatings may fade over time making the damage areas look yellowish.

Manufacturers are focusing on product innovation as a part of their business strategy to cater the rising demand of their customer base. For example, Premium Coatings And Chemicals Pvt Ltd., a specialized coatings manufacturer based in India, offers natural wood coatings for furniture’s and has also introduced silk wood sealer, glossy and matte that offer excellent adhesion, enhanced heat resistance and no yellowing features. Some of the major companies operating in the global wood coatings market are BASF SE, Arkema SA, Ashland Inc., RPM International Inc., Hempel A/S, AkzoNobel N.V., Premium Coatings and Chemicals Pvt Ltd. And Nippon Paint Co. Ltd.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.


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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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