Germany Industrial Wood Coatings Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.50 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Germany Industrial Wood Coatings Market Analysis
The German industrial wood coatings market is expected to reach USD 400 million by the end of this year. It is projected to register a CAGR of over 3.5% during the forecast period. The market was negatively impacted by COVID-19 in 2020. However, the market has now been estimated to have reached pre-pandemic levels and is expected to grow steadily in the future.
- Increasing consumer disposable income and changing lifestyles are significant factors driving demand for furniture, which is likely to drive demand for wood coatings.
- Furthermore, the housing sector is experiencing substantial growth, fuelling the demand for the manufacturing of doors and windows under the joinery sector and thus boosting the market growth.
- However, strict environmental regulations set by the government on the use of volatile organic compounds in the manufacturing of wood coatings are anticipated to hamper market expansion.
- Furthermore, advancements in coating technology and the employment of radiation cure coatings are projected to generate opportunities in the wood coating industry in the coming years.
Germany Industrial Wood Coatings Market Trends
This section covers the major market trends shaping the Germany Industrial Wood Coatings Market according to our research experts:
Growing Demand for Wooden Furniture
- Industrial wood coatings protect wooden furniture from several factors, such as water, sunlight, dust, and other chemical effects, such as oil and grease.
- These coatings are also used to make furniture more aesthetically appealing. Wood furniture is commonly used in the construction sector.
- Due to modernization and changing lifestyle preferences, the demand for furniture, such as chairs, tables, sofas, shelves, etc., has risen significantly due to increasing disposable income levels.
- Thus, consumers spend more on furniture and home furnishings to improve their lifestyles. For instance, consumer expenditure on furniture and household appliances climbed by about 10% in 2021 compared to 2017, which is likely to benefit the market in the upcoming years.
- Thus, increased demand for wooden furniture is expected throughout the forecast period, which is likely to result in higher consumption of wooden coatings in the country.
Increasing Consumption of Wood Coatings for Joinery
- The joinery industry mostly uses industrial wood coatings in doors, windows, trim, and cabinets. To protect these wooden surfaces from various stains and scratches, the consumption of wooden coatings in the country has increased significantly.
- Wood coatings are widely used in the residential and commercial building sectors. These coatings are used in various applications in hospitals and schools, among others, in manufacturing doors, wooden cabinets, etc.
- For instance, over the past few years, there has been significant growth in the index of building permits issued for residential building construction. A value of 126.7 index points was reached in 2021. This indicates that between 2015 and 2021, permits for construction activities increased by 26.7%, depending on the number of housing units.
- Therefore, with the growing construction of housing units in Germany, the need for kitchen cabinets for various household functions, such as cooking and storing utensils, is also increasing, which is expected to drive the market in the coming years.
- Thus, owing to the above-mentioned factors, the demand for wood coatings is likely to increase during the forecast period.
Germany Industrial Wood Coatings Industry Overview
The German industrial wood coatings market is partially consolidated in nature. Some of the major players in the market include RPM International Inc., AkzoNobel NV, Axalta Coatings Systems, The Sherwin Williams, and PPG Industries Inc., among other companies (in no particular order).
Germany Industrial Wood Coatings Market Leaders
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RPM International Inc
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AkzoNobel NV
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Axalta Coatings Systems
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The Sherwin Williams
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PPG Industries Inc.
*Disclaimer: Major Players sorted in no particular order
Germany Industrial Wood Coatings Market News
- November 2022: The Sherwin-Williams Company announced the acquisition of German-based Specialized Industrial Coatings Holding(SIC Holding), a Peter Möhrle Holding and GP Capital UG venture comprised of Oskar Nolte GmbH and Klumpp Coatings GmbH, to expand its industrial wood coatings business in the region.
Germany Industrial Wood Coatings Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Growing Usage of Wooden Furniture
- 4.2.2 Increasing Housing Construction
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4.3 Market Restraints
- 4.3.1 Regulations Related to VOC Emissions
- 4.3.2 Other Restraints
- 4.4 Industry Value Chain Analysis
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4.5 Porters 5 Force Analysis
- 4.5.1 Threat of New Entrants
- 4.5.2 Bargaining Power of Buyers/Consumers
- 4.5.3 Bargaining Power of Suppliers
- 4.5.4 Threat of Substitute Products
- 4.5.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size in Value)
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5.1 Resin Type
- 5.1.1 Epoxy
- 5.1.2 Acrylic
- 5.1.3 Alkyd
- 5.1.4 Polyurethane
- 5.1.5 Polyester
- 5.1.6 Other Resin Type
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5.2 Technology
- 5.2.1 Water-borne
- 5.2.2 Solvent-borne
- 5.2.3 UV-Coatings
- 5.2.4 Powder
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5.3 End-User Industry
- 5.3.1 Wooden Furniture
- 5.3.2 Joinery
- 5.3.3 Flooring
- 5.3.4 Other End-user Industries
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%) **/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 AkzoNobel NV
- 6.4.2 Axalta Coatings Systems
- 6.4.3 Jotun
- 6.4.4 PPG Industries Inc.
- 6.4.5 RPM International Inc.
- 6.4.6 Kansai Paint Co. Ltd
- 6.4.7 Nippon Paint Holdings Co. Ltd
- 6.4.8 Henkel AG & Co. KGaA
- 6.4.9 BASF SE
- 6.4.10 Hempel A/S
- 6.4.11 HUELSEMANN Coatings GmbH
- 6.4.12 The Sherwin Williams
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Increasing Demand for Radiation-cured Coatings
Germany Industrial Wood Coatings Industry Segmentation
Wood coatings are used for the protection of wooden products used for different industrial purposes, such as the production of wooden furniture, doors, cabinets, etc.
The German industrial wood coatings market is segmented by resin type, technology, and end-user industry. By resin type, the market is segmented into polyurethane, acrylic, nitrocellulose, alkyd, and other resin types. By technology, the market is segmented into water-borne, solvent-borne, powder, UV-coatings, and other technologies. By end-user industry, the market is segmented into wooden furniture, joinery, flooring, and other end-user industries. For each segment, the market sizing and forecasts have been done on the basis of revenue. (USD million)
| Resin Type | Epoxy |
| Acrylic | |
| Alkyd | |
| Polyurethane | |
| Polyester | |
| Other Resin Type | |
| Technology | Water-borne |
| Solvent-borne | |
| UV-Coatings | |
| Powder | |
| End-User Industry | Wooden Furniture |
| Joinery | |
| Flooring | |
| Other End-user Industries |
Germany Industrial Wood Coatings Market Research FAQs
What is the current Germany Industrial Wood Coatings Market size?
The Germany Industrial Wood Coatings Market is projected to register a CAGR of greater than 3.5% during the forecast period (2024-2029)
Who are the key players in Germany Industrial Wood Coatings Market?
RPM International Inc, AkzoNobel NV, Axalta Coatings Systems, The Sherwin Williams and PPG Industries Inc. are the major companies operating in the Germany Industrial Wood Coatings Market.
What years does this Germany Industrial Wood Coatings Market cover?
The report covers the Germany Industrial Wood Coatings Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Germany Industrial Wood Coatings Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Germany Industrial Wood Coatings Industry Report
Statistics for the 2024 Germany Industrial Wood Coatings market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Germany Industrial Wood Coatings analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
