Wood Coatings Market Worth $15.18B by 2030: MarketsandMarkets

MarketsandMarkets’ report, “Wood Coatings Market by Resin Type (Polyurethane, Acrylic, Epoxy, Alkyd), Technology (Solvent borne, Waterborne, Powder-based), Type (Stains & Varnishes, Shellac, Wood Preservatives, Water Repellents), Application and Region – Global Forecast to 2030,” estimates that the wood coatings market will exhibit moderate growth potential and is projected to reach a market size of USD $15.18 billion by 2030 from USD $12.74 billion in 2024, at a CAGR of 3.0%.

One of the largest markets for wood coatings worldwide is the Asia Pacific area. The demand for wood coatings is increasing in furniture and cabinet applications. The demand from developing nations, such as China, India, Brazil, and Argentina, are expected to drive the global wood coatings market.

Epoxy resins are expected to be the fastest-growing wood coatings resin type because of its exceptional abrasion, moisture, and chemical resistance, adhesion, and durability. Epoxy-based coatings are most suited for wood surfaces that need to be protected for an extended period of time, such flooring, cabinets, and furniture. Epoxy coatings are still in high demand for industrial applications where functionality is crucial.

The market for wood coatings is dominated by the furniture industry because of the growing need for durable and attractive furniture. In addition to providing durability and protection from stains, scratches, and ordinary environmental wear and tear, wood coatings also assist to emphasize texture and beauty.

High-quality wood coatings are in greater demand as people’s disposable income rises and they purchase more expensive furniture, which propels the industry forward. Additionally, certain coatings are required to complete the components of designer and bespoke furniture. Furniture is the most prominent category in this end use and continues to drive the greatest portion of the market over the rapidly expanding furniture manufacturing sector, particularly in Asia Pacific, which is home to the largest rising market for eco-friendly coatings.

North America is expected to have the second-largest share of the global wood coatings market during the forecast period, owing to a robust building and furniture sector. The rising need for aesthetically pleasing and protective coatings for residential, commercial, and industrial applications is driving demand for high-end, long-lasting wood coatings.

Additionally, the use of water-based and low volatile organic compounds (VOCs) paints is becoming more common as North America promotes sustainability and eco-friendly goods, which boosts the industry as a whole. Additionally, North America opens up in terms of regulatory standards which internally elevate innovation as well as progress within the wood coatings market; it thus becomes a player in the game.