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FutureMarket Insights, a market research firm, points out that the global market for
wood coatings
will grow at a CAGR of 6.2% between 2017 and 2027, with a market value of $6.233 billion by 2027. The development of the furniture industry is the main driver of the growth of wood
coatings
market, and the vigorous development of the construction industry is also one of the main factors to promote the development of wood coatings.
research points out that the world's wood coatings are mainly used in the construction industry and furniture industry. Among them, the furniture industry accounted for more than 1/3 of the wood coating market, and in the next few years will maintain this trend. By the end of 2017, the global market value of wood coatings dedicated to protective functions is approximately US$2,874 million, and by 2027, the global production of solvent-based wood coatings is expected to reach 5.7597 million tons, but due to environmental policy pressures and VOC regulations, waterization will be the focus of the development of wood coatings.
in recent years, the coating industry is in a technological transition, especially the optical curing system, water-based system, thermoset emulsion, powder system, high solid system, two-component system, colloid dispersion and other technologies, and environmentally friendly wood coating technology applications further stimulate the development of the global coatings market. Data show that the global market value of coatings reached $125 billion in 2016.
2017, the Asia-Pacific region (excluding Japan) accounted for 32.2% of the global wood coatings market, and the region,especially China and India, will grow at a higher rate over the next decade as urbanization progresses. The wood coatings market in the region has been driven by the relatively low cost of furniture manufacturing and increasing investment in the industry. Currently,
coatings companies
are gaining a foothold in the Asia-Pacific market through the introduction of functional high solid wood separation coatings products, and more flexible wood coatings may be more popular in the Asia-Pacific market, which many companies have taken note of and are adopting an operational strategy.
2017, the North American wood coatings market is estimated to be worth more than US$2 billion and is expected to grow at a CAGR of 5.2% to us above US$3.3 billion by 2027. Among them, the output of wood coatings in North America in 2017 will be about 539.973 million tons, and will reach 868.047 million tons by 2027, and the application of advanced technologies such as UV curing technology is the main factor leading to the growth and maturity of the North American wood coatings market.
the rise of independent home buildings in the United States may have contributed to the growth of wood paint consumption in North America. The independent family housing model accounts for a major share of U.S. housing construction, increasing the demand for wood, which in turn has driven the development of the wood coating sorzer market. Compared to other building materials (e.g. plastics, steel, concrete, etc.), wood is considered the lowest energy density, and other building materials consume more energy to convert raw materials into final products. Moreover, wood is cheaper and has a wider range of sizes and sizes than other alternatives, while the need for wood protection further increases the consumption of wood coatings.
Canada has about 30% of the northern hemisphere's forest resources, including larch, poplar, pine and other trees. Cork production accounts for the bulk of Canadian wood production and is easier to process into a variety of end products. One-third of U.S. wood consumption comes from Canadian exports of cork products, so wood
anti-corrosion coatings
requirements to prevent wood from decaying due to environmental factors such as climatic conditions.the use of water-based coatings
is very significant in the North American wood coatings market, and consumers are increasingly aware of the use of environmentally friendly coatings products. In addition, UV wood coatings are being used in industrial woodproduct products due to their ability to cure faster and produce more efficiently. In addition, high solid sub-coating technology with lower solvent content is now another prominent trend in the North American wood coatings market. Consumers in the North American wood coatings market are increasingly interested in low odors and high durability coatings.