In 10 years, the global market of wood coatings will reach 6.233 billion US dollars
Future market insights, a market research organization, pointed out that the compound annual growth rate of the global wood coatings market from 2017 to 2027 will be as high as 6.2%, and the market value will reach US $6.233 billion in 2027. The development of furniture industry is the main driving factor of wood coatings market growth. In addition, the vigorous development of construction industry is also one of the main factors to promote the development of wood coatings.
It is pointed out that wood coatings are mainly used in construction industry and furniture industry in the world. Among them, the furniture industry accounts for more than 1 / 3 of the wood coatings market, and will maintain this trend in the next few years. By the end of 2017, the global market value of wood coatings specially used for protective function is about 2874 million US dollars. It is estimated that by 2027, the global output of solvent based wood coatings will reach 5.7597 million tons. However, due to the pressure of environmental protection policies and VOC regulations, waterborne wood coatings will be the focus of development.
In recent years, the coatings industry is in the process of technological transformation, especially the application of light curing system, waterborne system, thermosetting emulsion, powder system, high solid system, two-component system, colloidal dispersion and other technologies, and the application of environment-friendly wood-based coatings technology has further stimulated the development of the global coating market. According to the data, the global market value of coatings reached 125 billion US dollars in 2016.
In 2017, the Asia Pacific region (excluding the Japanese market) accounted for 32.2% of the global wood coatings market, and the growth rate of wood coatings in this region (especially in China and India) will be higher in the next decade with the promotion of urbanization. Due to the relatively low cost of furniture manufacturing and the increasing investment in the industry, the wood coatings market in this area has been promoted. At present, coatings enterprises are promoting functional wood coatings with high solid content to gain a foothold in the Asia Pacific market, and wood coatings with higher flexibility may be more popular in the Asia Pacific market. Many enterprises have noticed this and are taking operational strategies.
In 2017, the market value of wood coatings in North America is estimated to exceed US $2 billion, and it is expected to grow at a compound annual growth rate of 5.2% in the future, reaching more than US $3.3 billion by 2027. Among them, the output of wood coatings in North America in 2017 is about 539973 tons, and it will reach 868047 tons by 2027. The application of advanced technologies such as UV curing technology is the main factor leading to the growth and maturity of North American wood coatings market.
The rise of independent home architecture in the United States may promote the growth of wood coatings consumption in North America. The independent family housing mode occupies a major share in the field of housing construction in the United States, which increases the demand for wood and promotes the development of wood coatings market. Compared with other building materials (such as plastic, steel, concrete, etc.), wood is considered as the building material with the lowest energy density. Other building materials need to consume more energy to convert raw materials into final products. Moreover, compared with other substitutes, the cost of wood is lower, the range of types and sizes is wider, and the demand for wood protection further increases the consumption of wood coatings.
Canada has about 30% of the northern hemisphere forest resources, including larch, poplar, pine and other trees. Cork production accounts for the major share of Canadian timber production, and it is easier to process into a variety of end products. One third of the wood consumption in the United States comes from softwood products exported from Canada. Therefore, requirements for wood preservative coatings are put forward to prevent wood from rotting due to environmental factors such as climatic conditions.
The application trend of water-based coatings is very significant in the North American wood coatings market, and consumers are more and more aware of the use of environmental protection coatings. In addition, UV wood coatings are widely used in the field of industrial wood products because they can provide faster curing speed and higher production efficiency. In addition, the technology of high solid coatings with lower solvent content is another prominent development trend of North American wood coatings market. Consumers in the North American wood coatings market are more and more interested in coatings with low odor and high durability.
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