The wood preservative coatings market is poised for growth, with an anticipated CAGR of 4.9% through 2027. This expansion is largely attributed to a rebound in the residential and construction sectors, which is expected to enhance demand for key applications where wood preservatives and coatings are utilized. Significant areas of application include furniture, decking, and siding, all of which are set to benefit from increased market activity and investment in these industries.
The high solid technology involves less solvent use and more solids, which is currently a prominent trend in the North American wood coatings market. Also, the low odor and high durable coatings are more preferred by the consumers in North American wood preservative coatings market.
The trend of usage of water-borne coatings is significant in the North America wood preservative coatings markets. The increasing awareness among consumers about the usage of eco-friendly coating products is prevailing. Also, the UV wood coatings are being used for industrial applications owing to its fast curing and high production efficiency.
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Global Wood Preservative Coatings Market: Segmental Forecast
Preservative coating type segment is further divided into the categories of water repellant, fire retardant and insect repellant, is expected to project a CAGR of 5.4% in terms of volume. In terms of value, fire retardant coating type segment is expected to project a CAGR of 6.0% during the forecast period. Stains, varnishes and shellacs, together account for 56% of the market share in coating type segment by 2017 end. Whereas, furniture segment is expected to decrease by 40 basis points in 2027 from 2017 to account for USD 1,612.4 Million by 2027 end.
The preservative coatings for the wood products are essential for increasing its life span. Among various preservatives, insect repellant is estimated to hold major share both in terms of value and volume owing to its inherent advantages of protection from decay. The borates, azoles, pentachlorophenol etc. type of insect preservatives dominate among others.
The fire retardant are the chemicals which are impregnated by pressure process to reduce the flame spread and smoke development, in order to improve the wood safety. The fire retardants in terms of value, is expected to expand at 6.0% CAGR during the forecast period.
The market for stains, varnishes type wood coatings is quite fragmented with the presence of domestic players. The demand for protective as well as decorative purpose influences the stains and coatings type wood coatings. Also, the sales of these coatings are majorly dependent on construction type. In terms of volume, the varnishes segment of the coating type is expected to expand at 5.4% CAGR during the forecast period.
Key competitors covered are Akzo Nobel N.V., BASF SE, The Dow Chemical Company, The Sherwin-Williams Company, PPG Industries, Inc, Valspar Corporation, Industrias Quimicas Kupsa S.L., RPM International Inc., Lonza Group Ltd, KMG Chemicals, Inc.
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Market Segmentation
The global wood preservative coatings market is segmented into seven key regions:
- North America
- Latin America
- Eastern Europe
- Western Europe
- Asia-Pacific Excluding Japan
- Japan
- Middle East and Africa
System type of wood preservative coatings
- Solvent borne
- Water borne
Applications of wood preservative coatings
- Preservative
- Stains
- Varnishes
- Shellacs
- Others (Oil, Wax, etc.)
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