Availability of environment friendly and durable coating resins with better performance and aesthetics, rising demand for solvent free and water borne coating resins, and budding end-use industries are anticipated to bolster the wood coating resins market throughout the forecast period. Some of the major factors hindering the market growth include higher prices of water borne coatings as compared to the solvent borne counterparts, more usage of solvent based coatings which do not fulfil with VOC regulations, and proclivity of furniture producers towards the use of particle sheets and other metal products.
This report focuses on estimating the size of global market and analyzing the future development potential of worldwide wood coating resins market across diverse segments such as resin type, application, technology, and region. By resin type, the global wood coating resins market is divided into acrylic, polyester, polyurethane, epoxy, nitrocellulose and others. On the basis of technology, the global wood coating resins market is segmented into high-solids, water borne, powder, solvent borne and radiation cure. On the basis of application, the global wood coating resins market is segmented into cabinets, flooring, doors & windows, furniture, decoration and others. On the basis of region, the global wood coating market is segmented into North America, Latin America, Asia-Pacific, Europe, Middle East and Africa (MEA).
Asia-Pacific is the largest and fastest growing market for wood coating resins, followed by North America, Latin America, and MEA. The rising disposable income, increase in the middle-class population and demand from various end-use industries are anticipated to drive the wood furniture industry, and in turn, the wood coating resins market.
In the wood coating resins value chain, the project and prototype stage is carried out according to the end-user needs and specifications. The properties and specifications change with the modification of the application industry. The raw materials that are used for wood coating resins include monomers, solvents, natural raw materials and polyols. These raw ingredients are used by different resin suppliers and manufacturers. The resins are used by coating manufacturers and then lastly by the end-users, such as Arkema S.A. (France), Koninklijke DSM N.V. (Netherlands), Nuplex Industries Limited (Australia), Dynea AS (Norway), AllnexS.à.r.l. (Germany), SynthopolChemie Dr. rer. pol. Koch GmbH & Co. KG (Germany), Polynt Spa (Italy), IVM Group (Italy), Sirca Spa (Italy) and Helios Group (Slovenia). The value chain comprises the production of wood coating resins and the distribution of products to end-users such as Hartmann Mobelwerke GmbH, Ikea, Snaidero and Seven Sedie which are some of the main end-user companies of wood coating resins.
Market Segmentation
Market by Resin Type
Acrylic
Polyester
Polyurethane
Epoxy
Nitrocellulose
Others
Market by Technology
High-solids
Water borne
Powder
Solvent borne
Radiation cure
Market by Application
Cabinets
Flooring
Doors & windows
Furniture
Decoration
Others
Market by Geography
North America
o US
o Canada
o Mexico
Europe
o UK
o Germany
o France
o Rest of Europe
Asia-Pacific
o China
o Japan
o India
o Rest of Asia-Pacific
Latin America
o Brazil
o Chile
o Rest of Latin America
Middle East and Africa (MEA)
o South Africa
o Saudi Arabia
o Rest of MEA
