Market Size of United States Industrial Wood Coatings Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Industrial Wood Coatings Market Analysis
The United States Industrial Wood Coatings market is expected to reach USD 807 million by the end of this year. It is projected to register a CAGR of over 3.3% during the forecast period.
The United States Industrial Wood coatings market saw a rise in demand during the Covid-19 pandemic in 2020. This was predominantly due to the rise in sales of wooden furniture. During the lockdowns, consumers spent more time at home, which led them to refurbish their living spaces. The orders placed in the first quarter of 2021 were up by 50% compared to 2020.
- The driving factors behind the market growth included increased demand for wood furniture, which occupies approximately 60% of the market.
- However, the stringent regulation laws and reduction in the VOC content in the paints to protect the environment are set to hamper the demand for Industrial Wood Coatings in the future.
- The increase in demand for environmentally friendly coatings in order to reduce the VOC content is creating an opportunity for the production of bio-based coatings used in the industry. With the increase in technological advancements, the demand for bio-based industrial wood coatings is set to increase in the future.
US Industrial Wood Coatings Industry Segmentation
Industrial wood coatings are finishes applied to wooden furniture, joinery (millwork), and flooring. The emphasis here is on factory-coated wooden products, both for commercial and household usage. The United States Industrial Wood Coatings Market is segmented by Resin Type (Epoxy, Acrylic, Alkyd, Polyurethane, Polyester, Other Resin Type), Technology (Water-borne, Solvent-borne, UV-cured and Powder Coatings), Application (Wood Furniture, Joinery, Wood Flooring, and Other Applications). The report offers market size and forecasts for United States Industrial Wood Coatings in revenue (USD million) for all the above segments.
| Resin Type | |
| Epoxy | |
| Acrylic | |
| Alkyd | |
| Polyurethane | |
| Polyester | |
| Other Resin Types |
| Technology | |
| Water-borne | |
| Solvent-borne | |
| UV-Coatings | |
| Powder |
| End-User Industry | |
| Wooden Furniture | |
| Joinery | |
| Flooring | |
| Other End-user Industries |
United States Industrial Wood Coatings Market Size Summary
The United States Industrial Wood Coatings market is experiencing a steady growth trajectory, driven by the increasing demand for wooden furniture, which constitutes a significant portion of the market. The COVID-19 pandemic initially boosted demand as consumers invested in home refurbishments, leading to a surge in furniture sales. However, the market faces challenges due to stringent regulations aimed at reducing VOC emissions from paints, which could potentially hinder future growth. Despite these challenges, there is a growing opportunity for bio-based coatings, spurred by technological advancements and a shift towards environmentally friendly solutions. The market's expansion is further supported by the rising construction of residential projects, which necessitate the use of wood coatings for various applications such as doors, windows, and flooring.
The market is characterized by a preference for solvent-borne industrial wood coatings, particularly in humid environments where water-borne options may not perform optimally. These coatings, while effective, pose health risks due to high VOC emissions, prompting regulatory scrutiny. Advances in water-borne coatings are providing safer alternatives, aligning with environmental regulations. The market is consolidated, with major players like The Sherwin-Williams Company, PPG Industries Inc., Akzo Nobel N.V., RPM International, and Axalta Coating Systems leading the industry. These companies are actively adapting to market trends and regulatory demands, ensuring their continued relevance in the evolving landscape of industrial wood coatings in the United States.
United States Industrial Wood Coatings Market Size - Table of Contents
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1. MARKET SEGMENTATION
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1.1 Resin Type
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1.1.1 Epoxy
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1.1.2 Acrylic
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1.1.3 Alkyd
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1.1.4 Polyurethane
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1.1.5 Polyester
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1.1.6 Other Resin Types
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1.2 Technology
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1.2.1 Water-borne
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1.2.2 Solvent-borne
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1.2.3 UV-Coatings
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1.2.4 Powder
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1.3 End-User Industry
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1.3.1 Wooden Furniture
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1.3.2 Joinery
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1.3.3 Flooring
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1.3.4 Other End-user Industries
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United States Industrial Wood Coatings Market Size FAQs
What is the current United States Industrial Wood Coatings Market size?
The United States Industrial Wood Coatings Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)
Who are the key players in United States Industrial Wood Coatings Market?
The Sherwin William Company, PPG Industries Inc., Akzo Nobel N.V., RPM International and Axalta Coating Systems are the major companies operating in the United States Industrial Wood Coatings Market.
