According to the latest market research report by IMARC Group, the global waterborne wood coatings market size reached US$ 1.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 1.7 Billion by 2027, exhibiting a growth rate (CAGR) of 5.8% during 2022-2027.
Waterborne Wood Coatings Market Trends:
In recent years, rapid urbanization has increased the construction of residential, commercial and industrial infrastructure across the globe. This has led to a rise in the demand for wood products which, in turn, is boosting the growth of the wood coatings market. Moreover, governments of various countries are restricting the use of coatings that contain high volumes of volatile organic compounds (VOCs). As waterborne wood coatings contain relatively less quantity of VOCs, they are increasingly being used across various sectors.
Further, numerous modified variants of waterborne wood coatings have been introduced by the manufacturers. For instance, the utilization of silver nanoparticles as an additive helps waterborne wood coatings to attain anti-microbial property. This aids in preventing the growth of fungi and bacteria on wood, owing to which they are gaining popularity worldwide.
Covid-19 Scenario:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Industry Definition and Application:
Waterborne wood coatings are applied on a wood surface in order to protect it from chemical attacks and environmental damage. They not only enhance durability but also render an aesthetic look to the surface. These coatings are composed of minute spheres of resin that are suspended in water along with a slow-evaporating solvent. The solvent softens the protective coating on tiny resin latexes, leading them to form a continuous film, whereas the high-water content of these coatings assist in easy application. As they are highly efficient, environment friendly and possess good heat resistance, these coatings are used on doors, sofas, tables, chairs, cars, decorative wooden items, cabinets, shelves and wooden panels.
Table of Contents
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global waterborne wood coatings market report, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on application.
Breakup by Application:
- Furniture
- Decking
- Joinery
- Siding
- Flooring
- Others
Based on the application, the market has been segmented into furniture, decking, joinery, siding, flooring and others. Joinery currently represents the biggest application.
Breakup by Region:
- Asia Pacific
- North America
- Europe
- Middle East and Africa
- Latin America
Region-wise, the market has been segmented into Asia Pacific, Europe, North America, Middle East and Africa, and Latin America. Amongst these, Asia Pacific is the biggest market, accounting for the majority of the global market.
Competitive Landscape:
The competitive landscape of the market along with the profiles of key players has also been examined in this report.
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