Market by Resin Type, Technology, Application, and Country Outlook | Forecast 2024-2032
Triton’s research suggests that the wood coatings market in North America is estimated to advance in revenue at a CAGR of 4.95% over the forecasted period 2024-2032.
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The countries in the region include:
• United States
• Canada
North America stands out as a leading producer and consumer of wood coatings, owing to the robust expansion of sectors such as furniture and construction. This growth is fueled by ongoing technological innovations driven by substantial investments in research and development. These advancements continually introduce enhanced formulas into the wood coatings market, thereby fostering its expansion in North America.
Rising spending on building construction and steady growth in residential maintenance are projected to drive up demand for wood coatings in the United States. The market stands to benefit from increased housing construction, where wood coatings are applied directly to newly installed wood products. Moreover, there is anticipated uptake in manufacturer-applied coatings, given that many wood products come pre-coated during the manufacturing process.
The rise in disposable income and enhancements in quality of life have spurred a growing demand for smart homes. These residences predominantly feature wooden floorings treated with radiation-cured coatings. This trend is anticipated to drive up the demand for wood coatings in Canada.
Furthermore, technological advancements have led to the development of innovative coatings that offer enhanced durability and aesthetic appeal, catering to the evolving needs of consumers and industries. Hence, these factors substantially widen the scope of the wood coatings market across Canada.
Polyurethane serves as a versatile resin in wood coatings, boasting exceptional physical and chemical properties. It finds application in manufacturing hard surface topcoats, renowned for their high performance. These coatings provide vibrant color, maintain gloss, and resist abrasion from chemicals effectively. Polyurethane wood coatings offer a robust surface finish, resisting solvents and scratches while enduring UV light damage and wear.
The market’s growth is assessed based on resin type, application, and technology. The resin type segment includes polyurethane, nitrocellulose, polyester, acrylic, and other resin types.
The notable companies in the market include Axalta Coating Systems LLC, Diamond Paints, BASF SE, Kansai Helios, and Akzo Nobel NV.
Axalta Coating Systems LLC specializes in the development, manufacturing, marketing, and distribution of high-performance coatings. Its clientele includes manufacturers of commercial and light vehicles, participants in the refinish aftermarket, and various industrial coating applications. Headquartered in Philadelphia, Pennsylvania, US, Axalta is among the key players in the coatings industry, providing essential solutions and services across diverse markets.
KEY DELIVERABLES OF THE REPORT:
Market CAGR during the forecasting years 2024-2032
Detailed data highlighting key insights, industry components, and market strategies
Comprehensive information and estimation of the wood coatings market revenue growth in North America and its influence on the parent market
In-depth study of forthcoming trends in consumer behavioral patterns
A meticulous analysis of the competitive landscape and Porter’s Five Forces
A wide-ranging study of factors that will challenge the North America wood coatings market’s growth during the upcoming years
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VIEW REPORT1. NORTH
AMERICA WOOD COATINGS MARKET – SUMMARY
2. INDUSTRY
OUTLOOK
2.1. PORTER’S
FIVE FORCES ANALYSIS
2.1.1. THREAT
OF NEW ENTRANTS
2.1.2. THREAT
OF SUBSTITUTES
2.1.3. BARGAINING
POWER OF BUYERS
2.1.4. BARGAINING
POWER OF SUPPLIERS
2.1.5. THREAT
OF COMPETITIVE RIVALRY
2.2. MARKET
MATURITY ANALYSIS
2.3. SUPPLY
CHAIN ANALYSIS
2.3.1. RAW
MATERIAL SOURCING AND PROCESSING
2.3.2. PRODUCT
INNOVATION AND TECHNOLOGY DEVELOPMENT
2.3.3. SUPPLY
CHAIN MANAGEMENT AND MARKET DISTRIBUTION
2.3.4. CUSTOMER
SUPPORT AND MAINTENANCE SERVICES
2.4. REGULATORY
FRAMEWORK
2.5. KEY
BUYING IMPACT ANALYSIS
2.5.1. COATING
PERFORMANCE AND WOOD COMPATIBILITY
2.5.2. COST-EFFECTIVENESS
AND VALUE ALIGNMENT FOR WOOD SURFACE APPLICATIONS
2.5.3. RELIABILITY
AND LONGEVITY OF COATINGS ON WOOD SURFACES
2.5.4. SUPPLIER
TRACK RECORD AND WOOD COATING EXPERTISE
2.6. KEY
MARKET STRATEGIES
2.6.1. COLLABORATIONS
2.6.2. PRODUCT
LAUNCHES
2.6.3. ACQUISITIONS
2.6.4. BUSINESS
DIVESTITURES & EXPANSIONS
2.7. MARKET
DRIVERS
2.7.1. INCREASING
DEMAND FROM THE BUILDING AND CONSTRUCTION SECTOR
2.7.2. UPTICK
IN SPENDING ON HOME ENHANCEMENTS DUE TO RISE IN INCOME
2.7.3. RISING
DEMAND FOR ECO-FRIENDLY PRODUCTS SOURCED FROM RENEWABLES
2.8. MARKET
CHALLENGES
2.8.1. VARIABLE
RAW MATERIAL COSTS IMPACT PRODUCTION EXPENSES
2.8.2. ENVIRONMENTAL
REGULATIONS LIMIT SPECIFIC CHEMICALS
2.8.3. COMPETITION
FROM COMPOSITE MATERIALS AND PLASTICS
2.9. MARKET
OPPORTUNITIES
2.9.1. TAILORED
SOLUTIONS FOR APPLICATIONS SUCH AS FLOORING AND FURNITURE
2.9.2. EMERGENCE
OF SMART COATINGS WITH SELF-HEALING AND ANTIMICROBIAL PROPERTIES
2.9.3. IMPROVED
COATING PERFORMANCE THROUGH NANOTECHNOLOGY
2.10. ANALYST
PERSPECTIVE
3. NORTH
AMERICA WOOD COATINGS MARKET – BY RESIN TYPE
3.1. NITROCELLULOSE
3.2. POLYURETHANE
3.3. ACRYLIC
3.4. OTHER
RESIN TYPES
4. NORTH
AMERICA WOOD COATINGS MARKET – BY TECHNOLOGY
4.1. POWDER
COATINGS
4.2. WATER-BORNE
4.3. UV-CURED
4.4. SOLVENT-BORNE
5. NORTH
AMERICA WOOD COATINGS MARKET – BY APPLICATION
5.1. FURNITURE
AND FIXTURE
5.2. CABINET
5.3. FLOORING
5.4. DOORS
AND WINDOW
5.5. DECK
6. NORTH
AMERICA WOOD COATINGS MARKET – BY COUNTRY OUTLOOK
6.1. UNITED
STATES
6.1.1. UNITED
STATES WOOD COATINGS MARKET FORECAST & PROSPECTS
6.2. CANADA
6.2.1. CANADA
WOOD COATINGS MARKET FORECAST & PROSPECTS
7. COMPETITIVE
LANDSCAPE
7.1. PPG
INDUSTRIES INC
7.1.1. OVERVIEW
7.1.2. PRODUCT
PORTFOLIO
7.1.3. KEY
STRENGTH
7.1.4. KEY
CHALLENGE
7.2. NIPPON
PAINT HOLDINGS CO LTD
7.2.1. OVERVIEW
7.2.2. PRODUCT
PORTFOLIO
7.2.3. KEY
STRENGTHS
7.2.4. KEY
CHALLENGE
7.3. ASIAN
PAINTS
7.3.1. OVERVIEW
7.3.2. PRODUCT
PORTFOLIO
7.3.3. KEY
STRENGTH
7.3.4. KEY
CHALLENGE
7.4. THE
SHERWIN-WILLIAMS COMPANY
7.4.1. OVERVIEW
7.4.2. PRODUCT
PORTFOLIO
7.4.3. KEY
STRENGTHS
7.4.4. KEY
CHALLENGE
7.5. RPM
INTERNATIONAL INC
7.5.1. OVERVIEW
7.5.2. PRODUCT
PORTFOLIO
7.5.3. KEY
STRENGTHS
7.5.4. KEY
CHALLENGES
7.6. DIAMOND
PAINTS
7.6.1. OVERVIEW
7.6.2. PRODUCT
PORTFOLIO
7.6.3. KEY
STRENGTHS
7.6.4. KEY
CHALLENGE
7.7. AXALTA
COATING SYSTEMS LLC
7.7.1. OVERVIEW
7.7.2. PRODUCT
PORTFOLIO
7.7.3. KEY
STRENGTHS
7.7.4. KEY
CHALLENGE
7.8. BASF
SE
7.8.1. OVERVIEW
7.8.2. PRODUCT
PORTFOLIO
7.8.3. KEY
STRENGTHS
7.8.4. KEY
CHALLENGES
7.9. KANSAI
HELIOS
7.9.1. OVERVIEW
7.9.2. PRODUCT
PORTFOLIO
7.9.3. KEY
STRENGTHS
7.9.4. KEY
CHALLENGES
7.10. AKZO
NOBEL NV
7.10.1. OVERVIEW
7.10.2. PRODUCT
PORTFOLIO
7.10.3. KEY
STRENGTHS
7.10.4. KEY
CHALLENGES
8. RESEARCH
METHODOLOGY & SCOPE
8.1. RESEARCH
SCOPE & DELIVERABLES
8.2. SOURCES
OF DATA
8.3. RESEARCH
METHODOLOGY
TABLE
1: NORTH AMERICA WOOD COATINGS MARKET, BY COUNTRY OUTLOOK, 2024-2032 (IN $
MILLION)
TABLE
2: REGULATORY FRAMEWORK
TABLE
3: LIST OF COLLABORATIONS
TABLE
4: LIST OF PRODUCT LAUNCHES
TABLE
5: LIST OF ACQUISITIONS
TABLE
6: LIST OF BUSINESS DIVESTITURES & EXPANSIONS
TABLE
7: NORTH AMERICA WOOD COATINGS MARKET, BY RESIN TYPE, 2024-2032 (IN $ MILLION)
TABLE
8: NORTH AMERICA WOOD COATINGS MARKET, BY TECHNOLOGY, 2024-2032 (IN $ MILLION)
TABLE
9: NORTH AMERICA WOOD COATINGS MARKET, BY APPLICATION, 2024-2032 (IN $ MILLION)
TABLE
10: NORTH AMERICA WOOD COATINGS MARKET, BY COUNTRY OUTLOOK, 2024-2032 (IN $ MILLION)
FIGURE
1: MARKET MATURITY ANALYSIS
FIGURE
2: SUPPLY CHAIN ANALYSIS
FIGURE
3: KEY BUYING IMPACT ANALYSIS
FIGURE
4: NORTH AMERICA WOOD COATINGS MARKET, BY RESIN TYPE, 2023 & 2032 (IN %)
FIGURE
5: NORTH AMERICA WOOD COATINGS MARKET, BY NITROCELLULOSE, 2024-2032 (IN $
MILLION)
FIGURE
6: NORTH AMERICA WOOD COATINGS MARKET, BY POLYURETHANE, 2024-2032 (IN $
MILLION)
FIGURE
7: NORTH AMERICA WOOD COATINGS MARKET, BY ACRYLIC, 2024-2032 (IN $ MILLION)
FIGURE
8: NORTH AMERICA WOOD COATINGS MARKET, BY OTHER RESIN TYPES, 2024-2032 (IN $
MILLION)
FIGURE
9: NORTH AMERICA WOOD COATINGS MARKET, BY TECHNOLOGY, 2023 & 2032 (IN %)
FIGURE
10: NORTH AMERICA WOOD COATINGS MARKET, BY UV-CURED, 2024-2032 (IN $ MILLION)
FIGURE
11: NORTH AMERICA WOOD COATINGS MARKET, BY WATER-BORNE, 2024-2032 (IN $
MILLION)
FIGURE
12: NORTH AMERICA WOOD COATINGS MARKET, BY POWDER COATINGS, 2024-2032 (IN $
MILLION)
FIGURE
13: NORTH AMERICA WOOD COATINGS MARKET, BY SOLVENT-BORNE, 2024-2032 (IN $
MILLION)
FIGURE
14: NORTH AMERICA WOOD COATINGS MARKET, BY APPLICATION, 2023 & 2032 (IN %)
FIGURE
15: NORTH AMERICA WOOD COATINGS MARKET, BY DOORS AND WINDOWS, 2024-2032 (IN $
MILLION)
FIGURE
16: NORTH AMERICA WOOD COATINGS MARKET, BY FURNITURE AND FIXTURES, 2024-2032
(IN $ MILLION)
FIGURE
17: NORTH AMERICA WOOD COATINGS MARKET, BY CABINETS, 2024-2032 (IN $ MILLION)
FIGURE
18: NORTH AMERICA WOOD COATINGS MARKET, BY FLOORING, 2024-2032 (IN $ MILLION)
FIGURE
19: NORTH AMERICA WOOD COATINGS MARKET, BY DECKS, 2024-2032 (IN $ MILLION)
FIGURE
20: NORTH AMERICA WOOD COATINGS MARKET, BY COUNTRY OUTLOOK, 2023 & 2032 (IN
%)
FIGURE
21: UNITED STATES WOOD COATINGS MARKET 2024-2032 (IN $ MILLION)
FIGURE
22: CANADA WOOD COATINGS MARKET 2024-2032 (IN $ MILLION)