What is the size of the global wood coating resin market in 2021?

According to a recent study published by market research firm Report l
inker, the global
wood coatings
resin market will reach US$4.24 billion by 2021, with a compound annual growth rate of 5.39 percent.
With the growing demand for environmentally friendly
coating
system and the implementation of various VOC regulations, the
water-based coatings
resin and solvent-free resin market has been developed, in addition, the downstream industry's strong consumer demand in the next 5 years is expected to further promote the development of the global wood coating resin market. Compared with solvent-based coatings, water-based
-coat prices
are higher, so for solvent-based coatings can not meet THEC regulatory requirements of the status quo, furniture manufacturers in addition to the choice of water-based coatings, but also more focus on the use of synthetic sheet or other metal materials, thereby indirectly affecting the development of wood coating resins.
Polyurethane wood coatings with excellent chemical and mechanical properties, and good compatibility, high decorative, with excellent weather resistance, chemical resistance, solvent resistance, scratch resistance, UV resistance, wear resistance, temperature variability, fast dryness, construction, so polyurethane resin has become the main force in the wood coating resin market.
study points out that the Asia-Pacific region has become the fastest growing market for wood coating resins due to an increase in the proportion of the middle class population, increased disposable income and stimulated consumer demand in downstream industries.