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Wood Preservative Coatings Market Size Analysis
According to a recent survey conducted by ChemView Consulting, the Global Wood Preservative Coatings Market grew at a CAGR of 4.2% between 2017-2021 and is estimated to be US$ 2,419.2 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 4.5 % and is expected to reach a valuation of US$ 3,756.9 Mn by 2032 end.
Growth in the wood preservative coatings sector is expected to be driven by a rebound in residential and construction investment. This is expected to benefit key applications such as furniture, decking, and siding.
Market Dynamic
GROWING URBANIZATION WILL BOOST THE MARKET
Although wood coatings are not new, they have recently gained immense popularity. While there is no denying the advantages it offers with enhanced features such as durability and resistance to water, chemicals, and heat, the wood coatings market is growing rapidly. This can be attributed to several factors, including high demand from non-residential areas and increasing government support for the structural painting of wooden structures like floors, walls, and ceilings in hotels and hospitals.
HIGH VOC EMISSIONS AFFECT THE MARKET GROWTH
Since wood coatings use volatile organic compounds (VOCs), which are harmful to the environment, this has become a challenge that the market must fight. Stringent VOC regulations are becoming another pertinent hurdle for the market. Key market players are trying to combat this by innovating and coming up with bio wood coatings that are not harmful to the environment. In contrast, other players have started using different raw materials, such as wheat straw, soy hulls, and palm trees, to develop bio-based solvent-free coatings.
THE RELIABILITY OF THE FURNITURE INDUSTRY CREATES MORE OPPORTUNITIES FOR THE MARKET
The furniture industry requires using wood coatings that can be transparent and provide a glossy finish to the product. Wood coating paints protect the exterior surfaces of wooden products while they are shipped to avoid damage during transportation. These two factors help in attracting consumers to this coatings market.
COVID-19 Impact
With the COVID-19 pandemic impacting the wood coatings market and stains in several ways, the demand for DIY projects has increased by more than double in recent years. As people took to their home workshops to practice safe cooking over the past year, they had to use wood coatings and stains on their stoves and tables—having access to quality products was critical. The market value might not catch up to the pre-COVID-19 value until 2027.
Market Segments Covered in Report
By Coating Type:
By Application Method:
By End User:
By Region and Country:
Segment-Wise Analysis
Why are Furniture wood preservative coatings projected to ensure the most revenue during the forecast period?
With 55.0% of the market volume, Furniture wood preservative coatings have the highest market share among all the regions. Solid wood furniture is a highly valuable, high-end product that has become very popular among customers. Solid wood is a manufactured product that requires constant maintenance and care.
Coating solid wood furniture can not only ensure that the properties and features of solid wood materials are successfully maintained but also enhance their ornamental texture appeal and, at the same time, prevent sawdust on furniture from scratching customers’ hands, thereby preserving the health of consumers.
Why is the Eco-friendly Acrylic Based Wood Coatings segment expected to expand the fastest during the forecast period?
In 2021, With growing concerns about adopting environmentally safe products to conserve the planet for future generations, key players in the wood coatings market gravitated towards manufacturing natural wood finishes. Three types of wood coatings have disrupted the market and are observing a steady increase in sales. Livos Oil is extracted from natural resins and provides a satin finish with water-resistant properties. Tung Oil is obtained from pressing Tung tree seeds and provides an almost permanent seal to wood products. And teak oil is sold as a pure solvent without any modifiers added.
Region-Wise Analysis
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
Competition Analysis
Major corporations are utilizing organic and inorganic development tactics to strengthen their position in the market by diversifying the products they provide. By developing new offerings, these corporations can meet customers’ needs by bringing a broad product portfolio to their business.
A list of some of the key suppliers present in the market are:
Report Coverage and Highlights
| Research Scope | Details |
| Forecast period | 2022-2032 |
| Historical data available for | 2017-2021 |
| Market analysis | USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032 |
| Key regions covered | North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa |
| Key countries covered | US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt |
| Key segments covered | By coating Type, Application Method, End User, and Region |
| Customization scope | Available upon Request |
| Pricing and purchase options | Available upon Request |
Market Size Data
Market Background
Pricing Analysis
Value Chain Analysis
Competition Analysis
Country Coverage
North America: U.S., Canada
Latin America: Brazil, Mexico, Argentina, Central America, Rest of Latin America
Western Europe: Germany, Italy, France, UK, Spain, Poland, Romania, Rest of Western Europe
Eastern Europe: Russia & Belarus, Balkan Countries, Baltic Countries, Central Asia, Rest of Eastern Europe
Middle East & Africa: KSA, UAE, Turkey, Israel, Northern Africa, South Africa, Rest of Middle East & Africa
East Asia: China, Japan, South Korea
South Asia & Pacific: India, ASEAN, Australia & New Zealand, Rest of South Asia & Pacific
Why Choose CVC Market Research?;
In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 4.5%.
Products with wood preservative coatings are crucial for extending the lifespan of the finished product. Due to its inherent benefits of protection from decay, insect repellent is estimated to hold a major share among different preservatives in terms of value and volume.
Major global Wood Preservative Coatings Market players are AkzoNobel N.V., Sherwin Williams, PPG Industries, Nippon Paint Holdings, Axalta, RPM International, Kelly-Moore Paint Company Inc., Vermont Natural Coatings Inc, Weilburger Coatings GmbH, Sniezka S.A.
Stringent Government regulation for VOC Wood Preservative Coatings is constrained by market growth.
The Europe region is expected to account for the largest market revenue share in the Global Wood Preservative Coatings market.
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