According to the latest report by IMARC Group, titled, “Waterborne Wood Coatings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” the global waterborne wood coatings market size reached US$ 1.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 1.7 Billion by 2027, exhibiting a growth rate (CAGR) of 5.8% during 2022-2027.
Waterborne wood coatings are composed of minute spheres of resin suspended in water with a slow-evaporating solvent, such as glycol ether. They aid in reducing the absorption of moisture and offer protection against scratches and changes in wood color by providing a smooth surface. They are widely used in protecting wood surfaces of furniture, deck, joinery, siding, flooring, and decorative items from environmental influences, such as harmful solar radiation and adverse climate conditions. Waterborne wood coatings are infused with anti-microbial properties that prevent bacterial and fungal growth.
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Waterborne Wood Coatings Market Trends and Drivers:
Rapid urbanization is resulting in the growing residential, commercial, and industrial complexes across the globe. This, coupled with the escalating demand for seats, tables, beds, and shelves, represents one of the key factors positively influencing the market. Moreover, rising standards of living and increasing spending on home renovation and remodeling are creating a favorable market outlook worldwide. Additionally, key market players are introducing self-crosslinking polymer technologies, which improve the stain-resistant properties of the coatings. This, in confluence with the escalating demand for light-colored kitchen cabinetry to enhance the aesthetic appeal, is fueling the market growth. Apart from this, increasing investments in research and development (R&D) activities for replacing volatile organic compounds (VOCs) on account of rising environmental and health-related concerns are anticipated to drive the market.
Competitive Landscape:
- The competitive landscape of the market along with the profiles of key players has also been examined in this report.
Waterborne Wood Coatings Market 2022-2027 Competitive Analysis and Segmentation:
The report has segmented the market based on report has categorized the market based on application.
Market Breakup by Application:
- Furniture
- Decking
- Joinery
- Siding
- Flooring
- Others
On the basis of applications, the market has been categorized into furniture, decking, joinery, siding, flooring and others. Amongst these, furniture is the largest application segment of waterborne wood coatings.
Market Breakup by Region:
- Asia Pacific
- Europe
- North America
- Middle East and Africa
- Latin America
On the geographical front, Asia Pacific represents the leading market, holding the majority of the total share. Other markets include Europe, North America, Middle East and Africa, and Latin America.
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