Asia-Pacific Wood Coatings Market, By Type (Acrylic Paint, Stains and Varnishes, Wood Preservatives, Water Repellants, Shellac Coatings, Linseed Oil, Beeswax and Carnauba Wax Mixtures, Others), Resin Type (Polyurethane, Nitrocellulose, Acrylic, Unsaturated Polyester, Others), Technology (Conventional Solid Solvent Borne, High Solid Solvent Borne, Powder Coating, Waterborne, Radiation Cured, Others), Application Method (Spray Coating, Roll and Brush Coating, Vacuum Coating), Application (Furniture, Sidings, Decking and Flooring, Cabinets, Joinery, Others), End User (Residential, Non-Residential), Country (China, India, Japan, South Korea, Australia, and New Zealand, Indonesia, Singapore, Malaysia, Thailand, Philippines, Vietnam, Rest of APAC), Market Trends and Forecast to 2028
Market Analysis and Insights: Asia-Pacific Wood Coatings Market
Asia-Pacific wood coatings market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing at a CAGR of 5.6% in the forecast period of 2021 to 2028 and is expected to reach USD 3,163,316.77 thousand by 2028.
Wood coatings are applied to the wooden surfaces of furniture, cabinets, sidings, decks, and flooring, among other things, to improve the aesthetic appeal and provide surface protection. In both residential and non-residential uses, wood finishes are extensively employed. The product could include but is not limited to waterborne, UV, and hydro-UV coating systems and can be brought to the application using a machine, manually by brush or roller and spray.
The growing demand for wood-based renovation is driving the market growth. The rising demand for coating in the furniture industry is acting as a potential market driver. Also, the significant rise in construction activities, increasing the sales and profit of the players operating in the market.
The major restraint impacting the wood coatings market is the stringent government regulations regarding VOC emissions. Further, fluctuation in raw material prices will act as a challenge for market growth. The opportunities for the wood coatings market are the rising investments and initiatives towards construction activities. Some of the significant drivers associated with the Asia-Pacific wood coatings market are the significant advancements in coating technology.
This wood coatings market report provides details of market share, new developments, and product pipeline analysis, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario, contact us for an Analyst Brief; our team will help you create a revenue impact solution to achieve your desired goal.
Asia-Pacific Wood Coatings Market Scope and Market Size
Asia-Pacific wood coatings market is segmented on the basis of type, resin type, technology, application method, application, and end user. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the Asia-Pacific wood coatings market is segmented into acrylic paint, stains and varnishes, wood preservatives, water repellants, shellac coatings, linseed oil, beeswax, and carnauba wax mixtures, others. In 2021, acrylic paint is expected to dominate the ASIA-PACIFIC wood coatings market as it is the most stable and permanent type of material. Also, it is fast-drying in nature, which helps to boost its demand in the forecast year.
- On the basis of resin type, the Asia-Pacific wood coatings market is segmented into polyurethane, nitrocellulose, acrylic, unsaturated polyester, and others. In 2021, polyurethane is expected to dominate in the ASIA-PACIFIC wood coatings market. It is considered a versatile resin type used to produce an array of items, such as inks, paint, and coatings, which helps to boost its demand in the forecast year.
- On the basis of technology, the Asia-Pacific wood coatings market is segmented into conventional solid solvent-borne, high solid solvent-borne, powder coating, waterborne, radiation cured, and others. In 2021, conventional solid solvent-borne is expected to dominate the ASIA-PACIFIC wood coatings market as this technology is traditional coating technology, which is being used commonly. Operators often choose this coating technology because they are experienced with its usage, which boosts demand in the forecast year.
- On the basis of the application method, the ASIA-PACIFIC wood coatings market is segmented into spray coating, roll and brush coating, vacuum coating. In 2021, spray coating is expected to dominate the Asia-Pacific wood coatings market. It provides a durable and stain-resistant coating for interior and exterior wooden surfaces, which helps boost demand in the forecast year.
- On the basis of application, the Asia-Pacific wood coatings market is segmented into furniture, siding, decking and flooring, cabinets, joinery, and others. In 2021, furniture is expected to dominate in the ASIA-PACIFIC wood coatings market as solid wood furniture is a long-lasting and durable material with a much better aesthetic appeal, which helps to boost its demand in the forecast year.
- On the basis of end user, the Asia-Pacific wood coatings market is segmented into residential and non-residential. In 2021, residential is expected to dominate the ASIA-PACIFIC wood coatings market as the continuous urbanization results in the progressive rise in the demand for residential wooden furniture.
Wood Coatings Market Country Level Analysis
Asia-Pacific market is analyzed, and market size information is provided by country, type, resin type, technology, application method, application, and end user.
The countries covered in the wood coatings market report are China, India, Japan, South Korea, Australia, New Zealand, Indonesia, Singapore, Malaysia, Thailand, Philippines, Vietnam, and the Rest of APAC.
- In APAC, the wood coatings market is dominated by China as it is a major coating producer, it is supplying a significant portion of the global coatings market. And continuous urbanization is resulting in the progressive rise in the demand for residential wooden furniture among end users. In India, the rise in government investment in the residential sector, such as smart cities projects, is proven to boost the demand for wood coatings in the residential sector. Whereas in Japan, the rise in wooden houses renovation and increase in wooden furniture demand boost the wood coatings demand among end users in the country.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of sales channels are considered while providing forecast analysis of the country data.
Growth In The Wood Coatings Industry
Asia-Pacific wood coatings market also provides detailed market analysis for every country's growth in the installed base of different kinds of products for the wood coatings market, the impact of technology using lifeline curves, and changes in infant formula regulatory scenarios and their impact on the wood coatings market. The data is available for the historical period 2010 to 2019.
Competitive Landscape and Wood Coatings Market Share Analysis
Asia-Pacific wood coatings market competitive landscape provides details by the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus on the Asia-Pacific wood coatings market.
The major players covered in the report are Akzo Nobel N.V., Axalta Coating Systems, LLC, BASF SE, Dow, Eastman Chemical Company, PPG Industries, Inc., KANGNAM JEVISCO CO., LTD., CHOKWANG PAINT, The Sherwin-Williams Company, RPM International Inc., Nippon Paint Holdings Co., Ltd., Kansai Paint Co., Ltd., Wengyuan Henghui Chemical Coating Co., Ltd., Stahl Holdings B.V., among other players domestic and regional. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
For instance,
- In November 2020, BASF SE launched New Joncryl 953X portfolio with five acrylic dispersions for furniture and floor coatings. It offers sustainable solutions for low to zero VOC levels. With this development company can enhance its sustainable product market
- In March 2020, Dow introduced two innovations simplifying the formulation of water-based, high-temperature-resistant industrial coatings. With this development company can enhance its brand name in the market
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