Polyurethane wood coatings have better agility and a better exceptional chemical and physical resistance. They deliver excellent results as they are treated with a hard-top surface. PU-based wood coatings strengthen the properties of wood-based substrates-providing color and protection. Polyurethane based wood coatings possess high-performance properties such as lasting surface finish, quality chemical, solvent and scratch resistance, resistance to UV light damage, general wear-and-tear, and extreme temperature variations, has excellent sanding, multi-coat, rubbed, and buffed finish applications.
The major driving factors for wood coating resin market size account for growth in the need for waterborne and solvent-free coating resins plus growing demand from end-user industries in the developed and developed countries. However, the prices associated with levels of waterborne coatings in comparison with solvent-borne equivalents, heavy consumption of solvent-borne coatings that are irregular with VOC regulations, increased use of particle boards, and other metal products for furniture manufacture are some factors restraining the global wood coatings resin market size.
On the basis of application, the global wood coating resin market size is segmented into furniture, doors & windows, flooring, decoration, and cabinets. The furniture segment accounted for the largest share in the global market size owing to the growing need for product innovation as well as the need for R&D in wood coatings resin encourages the manufacturing organizations to look out for organic and inorganic measures. Plus, superior resistance to dirt, abrasion, and water are the most important features required for wood coating resins in the furniture segment. In addition, superior chemical resistance to shoe polish, nail paint remover, and other agents are also recognized as important for wood coatings. Hence, the growth in demand for modern as well as conventional furniture is directly in proportion for the demand for wood coating resins.
On the basis of technology, the global wood coating resin market size spans solvent-borne, high-solids, radiation cure, waterborne, and powder. “Waterborne” accounts for the largest share in the global market size owing to proliferated use for different applications due to its properties such as hardness, chemical resistance, and block and print resistance.
On the basis of resin type, the global market is segmented into polyurethane, acrylic, epoxy, alkyd, polyester, and nitrocellulose.
On the basis of geography, the global wood coating resins market is segmented into North America, Europe, Asia-Pacific, Middle East, and Africa. Asia-Pacific regions are witnessing rapid transformation and growth owing to stable economic growth and better infrastructure. APAC is turning into a global hub to serve the increasing demand for wood coating resins. The success factors of APAC market attribute tithe raised standards of living and spending on infrastructure.
The key players in this market are Arkema S.A., Nuplex Industries Limited, Koninklijke DSM N.V., Allnex S.à.r.l., Synthopol Chemie Dr. rer. pol. Koch GmbH & Co. KG, Dynea AS, Polynt Spa, Sirca Spa, IVM Group, and Helios Group.
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