Wood Coating Resins Market Statistics, Emerging Trends, Key Drivers And Forecast To 2033

The wood coating resins market size has grown strongly in recent years. It will grow from $4.2 billion in 2023 to $4.44 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to growth in construction and housing, expansion of furniture manufacturing, urbanization trends, architectural renovations, demand for high-performance finishes, rise in disposable income, sustainable and eco-friendly trends.

The wood coating resins market size is expected to see strong growth in the next few years. It will grow to $5.54 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to preference for water-based coatings, demand for antimicrobial coatings, residential housing market dynamics, green building certifications, hybrid coating formulations, smart home integration, residential and commercial interior trends. Major trends in the forecast period include shift towards waterborne resins, growing demand for uv-curable resins, high solids content formulations, advancements in nanotechnology, digital printing and coating technologies, regulatory compliance and voc reduction.

Market Overview -
The wood coating resins refer to the production of adhesives, coatings, paints, plastics, primers and sealers, floors, and other building products. Epoxies are thermoset polymers created by the interaction of two or more industrial chemical components. The wood coating resins are used as powerful glue on any wooden surface.

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Growing Demand To Enhance Furniture Aesthetics
The rising need to improve furniture aesthetics is expected to propel the growth of the wood coating resin market going forward. Furniture aesthetics refers to a fundamental design element that establishes the attractive features of a design. Wood coating resins help consumers to improve furniture aesthetics and durability of the furniture. For instance, in July 2021, according to Business Standard, an India-based daily newspaper, 22% of students took online classes from their beds while learning about getting the ergonomics and aesthetics of the work from home station perfect, while another 14% rolled on the floor while learning. Therefore, the rising need to improve furniture aesthetics is driving the growth of the wood coating resin market.

Competitive Landscape -
Major companies operating in the wood coating resins market report are Arkema SA, Nuplex Industries Limited, Koninklijke DSM NV, Allnex SARL, Synthopol Chemie Dr rer pol Koch GmbH & Co KG, Dynea AS, Polynt Spa, Sirca Spa, Helios Group, Covestro AG, Badische Anilin und Soda Fabrik, Evonik Industries AG, Huntsman International LLC, The Sherwin-Williams Company, Jiangsu Sanmu Group Company Limited, Arakawa Chemical Industries Limited, Alberdingk Boley Inc., The Nippon Synthetic Chemical Industry Company Limited, Eternal Materials Company, CBC Company, Perstorp Group, Wanhua Chemical Group Company Limited, DIC Corporation, Wacker Chemie AG, Royal DSM NV, Akzo Nobel NV, Eastman Chemical Company, Dainippon Ink and Chemicals, Bayer AG, Lanxess

Wood Coating Resin Market Advances With The Launch Of Eps 2436, A Breakthrough In High-Performance Wood Coatings
Product innovation is a key trend gaining popularity in the wood coating resin market. Major market players are developing innovative products to sustain their position in the wood coating resin market. For instance, in November 2022, Engineered Polymer Solutions, a US-based company that provides high-performance resins and colorants for the coatings and adhesives industries launched EPS 2436, a new self-crosslinking acrylic dispersion for use as a binder for high-quality wood coatings. The EPS 2436 is a group of resins that wood coating formulators can employ to create high-performance solutions for flooring, cabinets, and industrial applications. When dry, this innovative substance exhibits outstanding clarity and superb block resistance. In interior wood applications, coatings formulated with EPS 2436 offer increased qualities such as strong chemical resistance and quick hardening. The quick hardness development speeds up production and shortens the manufacturing cycle. In addition, EPS 2436 offers a low-VOC waterborne substitute for earlier solvent-borne technologies.

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Key Segments -
The wood coating resins market covered in this report is segmented -
1) By Resin Type: Epoxy Resin, Amino Resin, Alkyd Resin, Polyurethane Resin, Unsaturated Polyester Resin, Saturated Polyester Resin, Acrylic Resin, Vinyl Resin, Other Resins
2) By Technology: Solvent-Borne Coatings, Powder Coatings, Waterborne Coatings, High Solids Coatings, Radiation Curable Coatings, Other Technologies
3) By Application: Automotive Coatings, Marine & Protective Coatings, Architectural Coatings, General Industrial Coatings, Packaging Coatings, Wood Coatings, Other Applications

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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