Wood Coatings Market: An Analysis of Upcoming Trends and Impacting Factors, 2033

According to the report, the "wood coatings market" was valued at $10.6 billion in 2023, and is estimated to reach $17.8 billion by 2033, growing at a CAGR of 5.3% from 2023 to 2033.   

Allied Market Research published a report, titled, "Wood Coatings Market by Resin Type (Polyurethane, Acrylics, Nitrocellulose, Unsaturated Polyester, Others), Technology (Waterborne, Conventional Solid Solvent Borne, High Solid Solvent Borne, Powder Coating, Radiation Cured, Others), and End-Use (Furniture, Joinery, Flooring, Others): Global Opportunity Analysis and Industry Forecast, 2023-2033".   

Prime determinants of growth  

The global wood coatings market is driven by rise in renovation and remodeling projects in both residential and commercial sector. The growing modern theme-based building & construction sector has led to rise in the demand for renovation activities. As homeowners and businesses seek to update and enhance the appearance of existing structures, they often utilize wood coatings for refinishing and restoration purposes. However, volatility in prices of wood coatings may hamper the growth of the wood coatings market during the forecast period.  

The polyurethane segment to maintain its lead position during the forecast period.  

Based on resin type, the polyurethane segment accounted for the largest share in 2023, contributing to two-fifths of the global wood coatings market revenue. Polyurethane coatings offer excellent durability and resistance to wear, scratches, and chemicals. This makes them highly desirable for protecting wood surfaces in various applications such as furniture, flooring, and cabinetry. Furthermore, polyurethane coatings can be formulated in different ways to achieve various finishes, from glossy to satin or matte. This versatility allows manufacturers and consumers to customize the appearance of wood surfaces according to their preferences.