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NORTH AMERICA WOOD COATINGS MARKET FORECAST 2024-2032

SCOPE OF THE REPORT

North America Wood Coatings Market by Resin Type (Nitrocellulose, Polyurethane, Polyester, Acrylic, Other Resin Types) Market by Technology (UV-cured, Water-borne, Powder Coatings, Solvent-borne) Market by Application (Doors and Window, Furniture and Fixture, Cabinet, Floor, Deck) by Geography

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MARKET OVERVIEW

The North America wood coatings market is estimated to register a CAGR of 4.97% during the forecast period, 2024-2032, and is projected to reach a revenue of $xx million by 2032.

Rapid urbanization, developed housing industries, and high disposable incomes are the key factors influencing market growth in North America.

The North America wood coatings market growth analysis includes the evaluation of the United States and Canada. The significant growth of end-user industries like furniture and construction has contributed to North America’s growth as a manufacturer. In the US, the increased expenditure on building construction has increased the demand for wood coatings, thereby benefiting the market growth. In Canada, the advent of smart homes fueled by improved living standards results in increased demands for radiation-cured wooden coatings. The key players in the market are investing huge sums in R&D activities to enhance the quality of their wood coatings, which offers ample growth opportunities. Moreover, the region is a conducive market for the companies since the standards of living have improved, leading to increased demands for wood coatings.

North America Wood Coatings Market

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The North America wood coatings market segmentation includes resin type, application, and technology. The technology segment includes solvent-borne, powder coatings, UV-cured, and water-borne.

Powder coatings technology is gaining significant traction within the wood coatings market due to its numerous advantages, including enhanced durability, environmental friendliness, and cost-effectiveness. The market for powder coatings in wood applications is witnessing robust growth driven by increasing demand for sustainable and eco-friendly coating solutions.

In recent years, manufacturers have been investing heavily in research and development to introduce innovative powder coating formulations tailored specifically for wood substrates. These advancements have led to the development of powder coatings with superior adhesion, flexibility, and resistance to scratches and chemicals, thereby expanding the applicability of powder coatings in the wood industry.

Furthermore, stringent environmental regulations regarding volatile organic compound (VOC) emissions have propelled the adoption of powder coatings technology in the wood coatings market. Powder coatings offer a VOC-free alternative to traditional solvent-based coatings, making them increasingly attractive to manufacturers, contractors, and end-users seeking environmentally responsible coating solutions.

Water-borne coatings offer numerous advantages over traditional solvent-based counterparts, including lower levels of volatile organic compounds (VOCs), reduced odor, and improved safety for both applicators and end-users. Market players are increasingly investing in research and development to enhance the performance characteristics of water-borne coatings, such as durability, adhesion, and drying time, to meet the evolving needs of various end-user industries. 

Some of the eminent companies in the North America wood coatings market are RPM International Inc, The Sherwin-Williams Company, Diamond Paints, Axalta Coating Systems LLC, etc.

Axalta Coating Systems LLC is a manufacturer that develops and markets liquid and powder coatings. It also provides transportation coatings for commercial and light vehicles. It operates across North America, Europe, the Middle East, and Latin America and is headquartered in Philadelphia, Pennsylvania, the United States.

REPORT SYNOPSIS

REPORT SCOPEDETAILS
Market Forecast Years2024-2032
Base Year2023
Market Historical Years2018-2022
Forecast UnitsRevenue ($ Million)
Segments Analyzed
Resin Type, Application, and Technology
Countries AnalyzedThe United States and Canada
Companies AnalyzedNippon Paint Holdings Co Ltd, PPG Industries Inc, Asian Paints, The Sherwin-Williams Company, RPM International Inc, Diamond Paints, Axalta Coating Systems LLC, BASF SE, Kansai Helios, Akzo Nobel NV, Eastman Chemical Company, Teknos Group

TABLE OF CONTENTS

  1. RESEARCH SCOPE & METHODOLOGY
    1. STUDY OBJECTIVES
    2. METHODOLOGY
    3. ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    1. MARKET SIZE & ESTIMATES
    2. MARKET OVERVIEW
    3. SCOPE OF STUDY
    4. MAJOR MARKET FINDINGS
      1. EMBRACING UV-CURABLE COATINGS TO ENHANCE EFFICIENCY
      2. TRANSITIONING TOWARD POWDER COATINGS
      3. GROWING UTILIZATION OF ANTI-GRAFFITI COATINGS
  3. MARKET DYNAMICS
    1. KEY DRIVERS
      1. RISING DEMAND FROM THE BUILDING & CONSTRUCTION INDUSTRY
      2. INCREASING DISPOSABLE INCOME AND SPENDING ON HOME IMPROVEMENT
      3. GROWING DEMAND FOR GREEN PRODUCTS MADE FROM RENEWABLE SOURCES
    2. KEY RESTRAINTS
      1. FLUCTUATING PRICES OF RAW MATERIALS AFFECTING PRODUCTION COSTS
      2. ENVIRONMENTAL REGULATIONS RESTRICT CERTAIN CHEMICALS
      3. COMPETITION FROM COMPOSITES AND PLASTICS
  4. KEY ANALYTICS
    1. KEY MARKET TRENDS
      1. NANOTECHNOLOGY ENHANCES COATING PERFORMANCE
      2. CUSTOMIZATION FOR SPECIFIC APPLICATIONS LIKE FLOORING AND FURNITURE
      3. SMART COATINGS WITH SELF-HEALING & ANTIMICROBIAL PROPERTIES
    2. PORTER’S FIVE FORCES ANALYSIS
      1. BUYERS POWER
      2. SUPPLIERS POWER
      3. SUBSTITUTION
      4. NEW ENTRANTS
      5. INDUSTRY RIVALRY
    3. GROWTH PROSPECT MAPPING
      1. GROWTH PROSPECT MAPPING FOR UNITED STATES
    4. MARKET MATURITY ANALYSIS
    5. MARKET CONCENTRATION ANALYSIS
    6. VALUE CHAIN ANALYSIS
      1. RAW MATERIAL SOURCING AND PROCESSING
      2. PRODUCT INNOVATION AND TECHNOLOGY DEVELOPMENT
      3. SUPPLY CHAIN MANAGEMENT AND MARKET DISTRIBUTION
      4. CUSTOMER SUPPORT AND MAINTENANCE SERVICES
    7. KEY BUYING CRITERIA
      1. COATING PERFORMANCE AND WOOD COMPATIBILITY
      2. COST-EFFECTIVENESS AND VALUE ALIGNMENT FOR WOOD SURFACE APPLICATIONS
      3. RELIABILITY AND LONGEVITY OF COATINGS ON WOOD SURFACES
      4. SUPPLIER TRACK RECORD AND WOOD COATING EXPERTISE
    8. REGULATORY FRAMEWORKS
  5. MARKET BY RESIN TYPE
    1. NITROCELLULOSE
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    2. POLYURETHANE
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    3. POLYESTER
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    4. ACRYLIC
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    5. OTHER RESIN TYPES
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
  6. MARKET BY TECHNOLOGY
    1. UV-CURED
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    2. WATER-BORNE
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    3. POWDER COATING
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    4. SOLVENT-BORNE
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
  7. MARKET BY APPLICATION
    1. DOORS AND WINDOW
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    2. FURNITURE AND FIXTURE
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    3. CABINET
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    4. FLOOR
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    5. DECK
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
  8. GEOGRAPHICAL ANALYSIS
    1. NORTH AMERICA
      1. MARKET SIZE & ESTIMATES
      2. COUNTRY ANALYSIS
        1. UNITED STATES
          1. UNITED STATES WOOD COATINGS MARKET SIZE & OPPORTUNITIES
        2. CANADA
          1. CANADA WOOD COATINGS MARKET SIZE & OPPORTUNITIES
  9. COMPETITIVE LANDSCAPE
    1. KEY STRATEGIC DEVELOPMENTS
      1. MERGERS & ACQUISITIONS
      2. PRODUCT LAUNCHES & DEVELOPMENTS
      3. PARTNERSHIPS & AGREEMENTS
      4. BUSINESS EXPANSIONS & DIVESTITURES
    2. COMPANY PROFILES
      1. NIPPON PAINT HOLDINGS CO LTD
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      2. PPG INDUSTRIES INC
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      3. ASIAN PAINTS
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      4. THE SHERWIN-WILLIAMS COMPANY
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      5. RPM INTERNATIONAL INC
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      6. DIAMOND PAINTS
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      7. AXALTA COATING SYSTEMS LLC
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      8. BASF SE
        1. COMPANY OVERVIEW
        2. PRODUCTS LIST
        3. STRENGTHS & CHALLENGES
      9. KANSAI HELIOS
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      10. AKZO NOBEL N.V
        1. COMPANY OVERVIEW
        2. PRODUCTS LIST
        3. STRENGTHS & CHALLENGES
      11. EASTMAN CHEMICAL COMPANY
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      12. TEKNOS GROUP
        1. COMPANY OVERVIEW
        2. PRODUCTS LIST
        3. STRENGTHS & CHALLENGES

LIST OF TABLES

TABLE 1: NORTH AMERICA MARKET SNAPSHOT – WOOD COATINGS MARKET 

TABLE 2: NORTH AMERICA WOOD COATINGS MARKET, BY RESIN TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 3: NORTH AMERICA WOOD COATINGS MARKET, BY RESIN TYPE, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 4: NORTH AMERICA WOOD COATINGS MARKET, BY TECHNOLOGY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 5: NORTH AMERICA WOOD COATINGS MARKET, BY TECHNOLOGY, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 6: NORTH AMERICA WOOD COATINGS MARKET, BY APPLICATION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 7: NORTH AMERICA WOOD COATINGS MARKET, BY APPLICATION, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 8: NORTH AMERICA WOOD COATINGS MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 9: NORTH AMERICA WOOD COATINGS MARKET, BY COUNTRY, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 10: NORTH AMERICA WOOD COATINGS MARKET REGULATORY FRAMEWORK

TABLE 11: LIST OF MERGERS & ACQUISITIONS

TABLE 12: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

TABLE 13: LIST OF PARTNERSHIPS & AGREEMENTS

TABLE 14: LIST OF BUSINESS EXPANSIONS & DIVESTITURES

LIST OF FIGURES

FIGURE 1: KEY MARKET TRENDS

FIGURE 2: PORTER’S FIVE FORCES ANALYSIS

FIGURE 3: GROWTH PROSPECT MAPPING FOR UNITED STATES

FIGURE 4: MARKET MATURITY ANALYSIS

FIGURE 5: MARKET CONCENTRATION ANALYSIS

FIGURE 6: NORTH AMERICA WOOD COATINGS MARKET, GROWTH POTENTIAL, BY RESIN TYPE, IN 2023

FIGURE 7: NORTH AMERICA WOOD COATINGS MARKET, BY NITROCELLULOSE, 2024-2032 (IN $ MILLION)

FIGURE 8: NORTH AMERICA WOOD COATINGS MARKET, BY POLYURETHANE, 2024-2032 (IN $ MILLION)

FIGURE 9: NORTH AMERICA WOOD COATINGS MARKET, BY POLYESTER, 2024-2032 (IN $ MILLION)

FIGURE 10: NORTH AMERICA WOOD COATINGS MARKET, BY ACRYLIC, 2024-2032 (IN $ MILLION)

FIGURE 11: NORTH AMERICA WOOD COATINGS MARKET, BY OTHER RESIN TYPES, 2024-2032 (IN $ MILLION)

FIGURE 12: NORTH AMERICA WOOD COATINGS MARKET, GROWTH POTENTIAL, BY TECHNOLOGY, IN 2023

FIGURE 13: NORTH AMERICA WOOD COATINGS MARKET, BY UV-CURED, 2024-2032 (IN $ MILLION)

FIGURE 14: NORTH AMERICA WOOD COATINGS MARKET, BY WATER-BORNE, 2024-2032 (IN $ MILLION)

FIGURE 15: NORTH AMERICA WOOD COATINGS MARKET, BY POWDER COATING, 2024-2032 (IN $ MILLION)

FIGURE 16: NORTH AMERICA WOOD COATINGS MARKET, BY SOLVENT-BORNE, 2024-2032 (IN $ MILLION)

FIGURE 17: NORTH AMERICA WOOD COATINGS MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2023

FIGURE 18: NORTH AMERICA WOOD COATINGS MARKET, BY DOORS AND WINDOW, 2024-2032 (IN $ MILLION)

FIGURE 19: NORTH AMERICA WOOD COATINGS MARKET, BY FURNITURE AND FIXTURE, 2024-2032 (IN $ MILLION)

FIGURE 20: NORTH AMERICA WOOD COATINGS MARKET, BY CABINET, 2024-2032 (IN $ MILLION)

FIGURE 21: NORTH AMERICA WOOD COATINGS MARKET, BY FLOOR, 2024-2032 (IN $ MILLION)

FIGURE 22: NORTH AMERICA WOOD COATINGS MARKET, BY DECK, 2024-2032 (IN $ MILLION)

FIGURE 23: NORTH AMERICA WOOD COATINGS MARKET, COUNTRY OUTLOOK, 2023 & 2032 (IN %)

FIGURE 24: UNITED STATES WOOD COATINGS MARKET, 2024-2032 (IN $ MILLION)

FIGURE 25: CANADA WOOD COATINGS MARKET, 2024-2032 (IN $ MILLION)

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