North America Wood Coatings Market (2022-2028) | Revenue, Growth, Industry, Size, Share, Outlook, Forecast, Analysis, Trends, Value, Segmentation & COVID-19 IMPACT

Market Forecast by Countries (United States, Canada), By Resin Type (Polyurethane, Acrylics, Nitrocellulose, Unsaturated Polyester, Others), By Technology (Waterborne, Conventional Solid Solvent Borne, High Solid Solvent Borne, Powder Coating, Radiation Cured, Others), By End Use (Furniture, Joinery, Flooring, Others) And Competitive Landscape

Product Code: ETC406653	Publication Date: Nov 2022	Product Type: Market Research Report
Publisher: 6Wresearch	No. of Pages: 250	No. of Figures: 50	No. of Tables: 25

North America Wood Coatings Market Synopsis

North America Wood Coatings Market is projected to grow during the forecast period. The increasing demand for wood coatings owing to the increase in construction activity and changing lifestyle is expected to drive the growth of this market. The increasing awareness about the benefits of using wood coatings has also been cited as one of the key factors driving the growth of this market. However, restraining factors include high cost of chemicals and unfavourable regulatory environment.

According to 6Wresearch, the North America Wood Coatings Market size is expected to grow during 2022-2028. Wood coatings are products that are used to protect wood from weathering, staining, and other damage. They are available in a variety of colors and finishes, and can be applied to both indoor and outdoor wood surfaces. Wood coatings can also be used to enhance the natural beauty of wood, and give it a more uniform appearance.

Drivers for the North America Wood Coatings Market

The key factors that are driving the growth of the North America wood coatings market are rising demand for natural and renewable products, increasing environmental awareness, and increasing consumer preference for sustainable products. This is due to the growing preference for natural and renewable products and increasing consumer demand for sustainable products. The protective coatings segment is expected to grow at a slower rate than the decorative coatings segment due to increasing concerns over environmental impact and cost.

The growing popularity of natural products among consumers is one of the key factors expected to drive the growth of the North American wood coatings market. Other factors that are expected to contribute to the growth of this market include increased demand from industrial sectors such as construction, automotive, and aerospace, and increasing investments by corporations in R&D for new wood coatings applications.

Additionally, the increase in the adoption of green solutions by customers is also expected to drive the North America Wood Coatings Market growth. Other factors that are fuelling the growth of this market include the growing need for corrosion resistance in manufacturing and infrastructure sectors, as well as an increase in investment in new industrial projects.

Challenges in the North America Wood Coatings Market

The increasing use of natural materials, such as bamboo and hemp, has been cited as one of the key reasons for the decline in demand for wood coatings in North America. Moreover, increasing concerns over environmental pollution are also hampering the growth of this market.

The other factors hampering the North America Wood Coatings Market revenue are the increasing awareness about environmental issues and stricter regulations pertaining to coatings, which is posing a challenge to the adoption of new technologies in this sector. The high cost of raw materials is also expected to restrain the market growth.

Market Analysis based on Countries

The North America wood coatings market is fragmented into the United States and Canada. The United States dominates the market due to its large population and favourable economic conditions. Canada is expected to grow at a higher rate than Mexico due to its larger infrastructure and burgeoning industrial sector.

Market Analysis based on Resin Type

In the North America wood coatings market share, the most popular resin types are polyurethane, acrylics, nitrocellulose, and unsaturated polyester. Each of these resins has different properties that make it more or less suitable for different applications. Polyurethane is the most durable of the four resins, making it ideal for high-traffic areas or areas that will be exposed to weathering. Acrylics are less durable than polyurethane but more resistant to scratches and UV light, making them a good choice for furniture or cabinets that may see a lot of use. Nitrocellulose is the least durable of the four resins but is also the easiest to apply, making it a good choice for DIY projects. Unsaturated polyester is somewhere in between nitrocellulose and acrylics in terms of durability and resistance to UV light, making it a good all-purpose resin type.

Impact of COVID-19 on the North America Wood Coatings Market

The COVID-19 pandemic has had a significant impact on the Global wood coatings market. The market is expected to decline sharply in 2020 as a result of the pandemic, with demand falling. This is due to the widespread economic slowdown and reduced construction activity across the region. In addition, the closure of many businesses and manufacturing facilities has disrupted supply chains and led to shortages of raw materials. As a result, prices for wood coatings have increased significantly in recent months.

Classification of Wood Coatings

The classification of wood coatings is based on their chemical composition and application. They can be broadly classified into three categories: water-borne coatings, oil-borne coatings, and combination coatings. Water-borne coatings are mainly used for protection against water damage, while oil-borne coatings are used for protection against weathering and rot. Combination coatings offer enhanced performance both in terms of water resistance and weathering resistance.

Regional Outlook for the North America Wood Coatings Market

North America dominates the global market for wood coatings, accounting for nearly 60% of the total market value in 2016. This dominance is likely to continue over the next five years, as growth in the region outpaces that of other regions globally. The key drivers behind this growth include increased demand from the construction and transportation sectors, as well as regulations that are fostering the use of green technologies. In contrast, Europe is expected to experience slower growth owing to limited funding availability and stiff competition from other regions such as Asia Pacific and Latin America.

Competitive Landscape for the North America Wood Coatings Market

The key players in the North America wood coatings market are few which reduces competition in the market. These companies are expected to benefit from increased demand from the construction and transportation sectors, as well as regulations that are fostering the use of green technologies. These companies are also engaged in the production of paints, varnishes, and lacquers for both residential and commercial applications.

Key Attractiveness of the Report

COVID-19 Impact on the Market.
10 Years Market Numbers.
Historical Data Starting from 2018 to 2021.
Base Year: 2021.
Forecast Data until 2028.
Key Performance Indicators Impacting the Market.
Major Upcoming Developments and Projects.

Key Highlights of the Report:

North America Wood Coatings Market Outlook
Market Size of North America Wood Coatings Market, 2021
Forecast of North America Wood Coatings Market, 2028
Historical Data and Forecast of North America Wood Coatings Revenues & Volume for the Period 2018 - 2028
North America Wood Coatings Market Trend Evolution
North America Wood Coatings Market Drivers and Challenges
North America Wood Coatings Price Trends
North America Wood Coatings Porter's Five Forces
North America Wood Coatings Industry Life Cycle
Historical Data and Forecast of North America Wood Coatings Market Revenues & Volume By Resin Type for the Period 2018 - 2028
Historical Data and Forecast of North America Wood Coatings Market Revenues & Volume By Polyurethane for the Period 2018 - 2028
Historical Data and Forecast of North America Wood Coatings Market Revenues & Volume By Acrylics for the Period 2018 - 2028
Historical Data and Forecast of North America Wood Coatings Market Revenues & Volume By Nitrocellulose for the Period 2018 - 2028
Historical Data and Forecast of North America Wood Coatings Market Revenues & Volume By Unsaturated Polyester for the Period 2018 - 2028
Historical Data and Forecast of North America Wood Coatings Market Revenues & Volume By Others for the Period 2018 - 2028
Historical Data and Forecast of United States Wood Coatings Market Revenues & Volume By Resin Type for the Period 2018 - 2028
Historical Data and Forecast of United States Wood Coatings Market Revenues & Volume By Polyurethane for the Period 2018 - 2028
Historical Data and Forecast of United States Wood Coatings Market Revenues & Volume By Acrylics for the Period 2018 - 2028
Historical Data and Forecast of United States Wood Coatings Market Revenues & Volume By Nitrocellulose for the Period 2018 - 2028
Historical Data and Forecast of United States Wood Coatings Market Revenues & Volume By Unsaturated Polyester for the Period 2018 - 2028
Historical Data and Forecast of United States Wood Coatings Market Revenues & Volume By Others for the Period 2018 - 2028
Historical Data and Forecast of Canada Wood Coatings Market Revenues & Volume By Resin Type for the Period 2018 - 2028
Historical Data and Forecast of Canada Wood Coatings Market Revenues & Volume By Polyurethane for the Period 2018 - 2028
Historical Data and Forecast of Canada Wood Coatings Market Revenues & Volume By Acrylics for the Period 2018 - 2028
Historical Data and Forecast of Canada Wood Coatings Market Revenues & Volume By Nitrocellulose for the Period 2018 - 2028
Historical Data and Forecast of Canada Wood Coatings Market Revenues & Volume By Unsaturated Polyester for the Period 2018 - 2028
Historical Data and Forecast of Canada Wood Coatings Market Revenues & Volume By Others for the Period 2018 - 2028
Historical Data and Forecast of North America Wood Coatings Market Revenues & Volume By Technology for the Period 2018 - 2028
Historical Data and Forecast of North America Wood Coatings Market Revenues & Volume By Waterborne for the Period 2018 - 2028
Historical Data and Forecast of North America Wood Coatings Market Revenues & Volume By Conventional Solid Solvent Borne for the Period 2018 - 2028
Historical Data and Forecast of North America Wood Coatings Market Revenues & Volume By High Solid Solvent Borne for the Period 2018 - 2028
Historical Data and Forecast of North America Wood Coatings Market Revenues & Volume By Powder Coating for the Period 2018 - 2028
Historical Data and Forecast of North America Wood Coatings Market Revenues & Volume By Radiation Cured for the Period 2018 - 2028
Historical Data and Forecast of North America Wood Coatings Market Revenues & Volume By Others for the Period 2018 - 2028
Historical Data and Forecast of United States Wood Coatings Market Revenues & Volume By Technology for the Period 2018 - 2028
Historical Data and Forecast of United States Wood Coatings Market Revenues & Volume By Waterborne for the Period 2018 - 2028
Historical Data and Forecast of United States Wood Coatings Market Revenues & Volume By Conventional Solid Solvent Borne for the Period 2018 - 2028
Historical Data and Forecast of United States Wood Coatings Market Revenues & Volume By High Solid Solvent Borne for the Period 2018 - 2028
Historical Data and Forecast of United States Wood Coatings Market Revenues & Volume By Powder Coating for the Period 2018 - 2028
Historical Data and Forecast of United States Wood Coatings Market Revenues & Volume By Radiation Cured for the Period 2018 - 2028
Historical Data and Forecast of United States Wood Coatings Market Revenues & Volume By Others for the Period 2018 - 2028
Historical Data and Forecast of Canada Wood Coatings Market Revenues & Volume By Technology for the Period 2018 - 2028
Historical Data and Forecast of Canada Wood Coatings Market Revenues & Volume By Waterborne for the Period 2018 - 2028
Historical Data and Forecast of Canada Wood Coatings Market Revenues & Volume By Conventional Solid Solvent Borne for the Period 2018 - 2028
Historical Data and Forecast of Canada Wood Coatings Market Revenues & Volume By High Solid Solvent Borne for the Period 2018 - 2028
Historical Data and Forecast of Canada Wood Coatings Market Revenues & Volume By Powder Coating for the Period 2018 - 2028
Historical Data and Forecast of Canada Wood Coatings Market Revenues & Volume By Radiation Cured for the Period 2018 - 2028
Historical Data and Forecast of Canada Wood Coatings Market Revenues & Volume By Others for the Period 2018 - 2028
Historical Data and Forecast of North America Wood Coatings Market Revenues & Volume By End Use for the Period 2018 - 2028
Historical Data and Forecast of North America Wood Coatings Market Revenues & Volume By Furniture for the Period 2018 - 2028
Historical Data and Forecast of North America Wood Coatings Market Revenues & Volume By Joinery for the Period 2018 - 2028
Historical Data and Forecast of North America Wood Coatings Market Revenues & Volume By Flooring for the Period 2018 - 2028
Historical Data and Forecast of North America Wood Coatings Market Revenues & Volume By Others for the Period 2018 - 2028
Historical Data and Forecast of United States Wood Coatings Market Revenues & Volume By End Use for the Period 2018 - 2028
Historical Data and Forecast of United States Wood Coatings Market Revenues & Volume By Furniture for the Period 2018 - 2028
Historical Data and Forecast of United States Wood Coatings Market Revenues & Volume By Joinery for the Period 2018 - 2028
Historical Data and Forecast of United States Wood Coatings Market Revenues & Volume By Flooring for the Period 2018 - 2028
Historical Data and Forecast of United States Wood Coatings Market Revenues & Volume By Others for the Period 2018 - 2028
Historical Data and Forecast of Canada Wood Coatings Market Revenues & Volume By End Use for the Period 2018 - 2028
Historical Data and Forecast of Canada Wood Coatings Market Revenues & Volume By Furniture for the Period 2018 - 2028
Historical Data and Forecast of Canada Wood Coatings Market Revenues & Volume By Joinery for the Period 2018 - 2028
Historical Data and Forecast of Canada Wood Coatings Market Revenues & Volume By Flooring for the Period 2018 - 2028
Historical Data and Forecast of Canada Wood Coatings Market Revenues & Volume By Others for the Period 2018 - 2028
North America Wood Coatings Market - Key Performance Indicators
North America Wood Coatings Market - Import Export Trade Statistics
North America Wood Coatings Market - Opportunity Assessment By Countries
North America Wood Coatings Market - Opportunity Assessment By Resin Type
North America Wood Coatings Market - Opportunity Assessment By Technology
North America Wood Coatings Market - Opportunity Assessment By End Use
North America Wood Coatings Market - Top Companies Market Share
North America Wood Coatings Market - Top Companies Profiles
North America Wood Coatings Market - Comparison of Players in Technical and Operating Parameters
North America Wood Coatings Market - Strategic Recommendations