PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1663466
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1663466
Wood Coating Resins Market size was valued at US$ 10,256.6 Million in 2024, expanding at a CAGR of 6.00% from 2025 to 2032.
Wood coating resins are organic materials that improve the wood's appearance and increase its tensile strength and durability. Recent advancements in environmentally friendly wood finishing resins have increased demand for these materials. These coating resins can be used to coat almost every type of woodwork in a house, such as windows, doors, cabinets, flooring, ornaments, and other furniture. Wood coatings are expected to become more and more popular in the coming years because of the resin's ability to keep wood from decaying and increase its longevity. The production of paints and coatings requires wood polymer compounds, also referred to as coating resins. The market for wood coating resin is primarily driven by the growing demand from end-user industries in developed and developed nations, as well as the growing requirement for solvent-free and aqueous coating resins. Nevertheless, the cost of waterborne coatings compared to solvent-borne equivalents, excessive use of solvent-borne coatings that violate VOC regulations, and the growing use of particle boards and other metal products in furniture manufacturing are some of the factors limiting the size of the global wood coatings resin market.
Wood Coating Resins Market- Market Dynamics
Growing investments in the building & construction industry
The global market for wood coating resins is anticipated to rise as a result of the rising investments in the building & construction industry. This covers both residential and commercial environments, including hotels. The demand for residential dwellings is increasing, and the global construction industry is gradually accelerating after the effects of COVID-19. Urbanization and the general public's rising disposable income are two important elements driving the building industry's expansion. Additionally, the Budget 2023-24 increases capital investment outlays for infrastructure in India by 33% to INR 10 trillion ($122 billion), or 3.3% of the nation's GDP, according to the India Brand Equity Foundation, a Trust founded by the Ministry of Commerce and Industry, Department of Commerce, Government of India. Thus, the market for wood coating resin is expanding due to increased investments in the building and construction sector.
Wood Coating Resins Market- Key Insights
As per the analysis shared by our research analyst, the global wood coating resins market is estimated to grow annually at a CAGR of around 6.00% over the forecast period (2025-2032)
Based on product segmentation, the water borne category was predicted to show maximum market share in the year 2024
Based on application segmentation, furniture was the leading segment in 2024
On the basis of region, North America was the leading revenue generator in 2024
The Global Wood Coating Resins Market is segmented on the basis of Resin Type, Product, Application, and Region.
On the basis of resin type, the market is segregated into Alkyd, Acrylic, Polyurethane, Epoxy, and Others. In 2024, the market was dominated by the polyurethane category. The remarkable properties of polyurethane resins are well known, and they significantly improve the coated surface. Their exceptional resistance to moisture, which guarantees long-lasting durability, is one of their outstanding qualities. These resins offer dependable defence against damaging UV rays and harsh climatic conditions, and they can be used successfully for both external and internal components. Their distinctive composition, which consists of both soft and hard segments, gives the coated surface exceptional elasticity and toughness. Because of their strength and flexibility, polyurethane resins are a great option for a variety of applications.
Based on application, the market is divided into Siding, Furniture, and Decking. In 2024, the furniture category held a dominant market share driven by the growing need for wood furniture because of its refined elegance and natural aesthetic appeal. Wood-based products are becoming more and more popular because consumers see them as the ideal fusion of style and utility. The rise in internet marketplaces that focus on selling reconditioned wooden furniture was one of the main causes of this expansion. These platforms provide customers with an easy and cost-effective way to get premium, eco-friendly furniture.
Wood Coating Resins Market- Geographical Insights
In 2024, North America held a dominant position in the global market for Wood Coating Resins. Wood is the primary building material used in dwellings in the US and Canada, particularly in rural locations that are vulnerable to earthquakes and storms. Wood is pliable enough to withstand the effects of small earthquakes. Additionally, wood-framed dwellings are affordable. The average domestic population also spends more on home repair projects, a trend that has increased over the past two years. The majority of furniture and interior furnishings found in residential outdoor spaces are constructed of wood, which increases the need for and use of wood coating resins. Moreover, nearly all freestanding homes in the US and Canada contain basic home furnishings and supplies like wood paint resins because a significant portion of the populace is known to complete renovation tasks on their own without the assistance of professionals.
However, throughout the projected period, the Asia-Pacific region is anticipated to see the fastest CAGR. This is explained by the quick development of infrastructure and urbanization in nations like China and India. IBEF predicts the Indian real estate market to reach USD 5.8 trillion by 2047. Strong demand for furniture coatings and house interiors will result from the booming real estate industry. The demand for premium furniture and wood coating resins is being driven by shifting consumer lifestyles and rising disposable incomes. Manufacturers will be compelled to use eco-friendly resin formulas as a result of the introduction of strict environmental standards. Significant innovations and a surge in R&D spending are improving product performance and catering to changing consumer tastes.
The market for wood coating resins is competitive, with both domestic and international companies vying for market dominance through geographic growth, strategic alliances, and new product development. Leading companies such as PPG Industries, Kansai Paint Co. Ltd., Nippon Paint Holdings Co. Ltd., Allnex, Hempel A/S, and others concentrate on expanding their product lines to meet a range of consumer needs, such as high-performance and environmentally friendly coatings. R&D expenditures to create innovative formulations that satisfy changing customer tastes and regulatory requirements are another component of competitive tactics. For instance, in March 2022, for an undisclosed sum, D.R. Coats Ink & Resins Pvt. Ltd. sold the Mahad manufacturing site and coating resins business to Allnex. This German company specializes in industrial coating resins. This purchase supports Allnex's plan to increase its footprint in India. By localizing presently imported products, the new manufacturing facility speeds up time to market, facilitates the utilization of local raw material sources, and cultivates close engagement with local and regional consumers.
Recent Development
January 2023: Leading supplier of all-inclusive colour solutions, The Heubach Group, unveiled its most recent cutting-edge pigment preparations for opulent wood treatments. The best way to colour natural wood stains and oils made from linseed and other sources is by using these Hostatint SA preparations. They are a perfect substitute for conventional dyes because they don't need additional labelling. They are easy to work with and do not migrate into solvent- or water-borne topcoats because of their low viscosity, high tinting strength, sophisticated sedimentation behaviour, and constant quality.
November 2022: For use as a binder in premium wood coatings, Engineered Polymer Solutions, a US-based firm that supplies high-performance resins and colourants for the coatings and adhesives industries, introduced EPS 2436, a novel self-crosslinking acrylic dispersion. Wood coating formulators can use a class of resins known as EPS 2436 to produce high-performing flooring, cabinet, and industrial solutions. This novel material has excellent block resistance and exceptional clarity when dry.