ASIA-PACIFIC WOOD COATINGS MARKET 2024-2032

Building & Construction | Construction Materials

ASIA-PACIFIC WOOD COATINGS MARKET 2024-2032

Market by Resin Type, Technology, Application, and Country Outlook | Forecast 2024-2032

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As per Triton’s report analysis, the Asia-Pacific wood coatings market is set to advance in terms of revenue at a CAGR of 5.01% during the forecast period 2024-2032


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The countries examined in this region include:

•         China

•         Japan

•         South Korea

•         India

•         ASEAN Countries

•         Australia & New Zealand

•         Rest of Asia-Pacific

The wood coatings market in Asia-Pacific experiences significant demand, particularly in sectors such as furniture, joineries, and flooring. This demand is primarily fueled by the extensive utilization and production of wood coatings in countries like China, Japan, South Korea, and India. Moreover, market expansion is supported by the rise in disposable income, substantial investments in infrastructure, and urban development. 

China is one of the world’s most rapidly expanding economies, maintaining a steady growth rate. Over the years, its GDP has surged significantly. This economic ascent has attracted numerous multinational corporations, drawn by China’s industrialization and substantial foreign direct investment. As a result, the demand for office furniture has soared, prompting a corresponding rise in the utilization of wood coatings. Furthermore, the rapid pace of urbanization has significantly bolstered this demand, as extensive housing projects fuel the need for furniture and joineries.

Japanese housing embodies modern and traditional architectural styles. In modern housing, expansive concrete structures house numerous apartments, while traditional dwellings boast wooden frameworks featuring sliding doors, wooden-floored passages, portable wooden partitions, and timber roofs. To safeguard these traditional homes from termite damage and solvent infiltration, they require protective wood coatings. Conversely, modern housing incorporates wooden furnishings and fixtures such as cabinets and sidings. This preference for wooden elements fuels the demand for wood coatings. 

Wood coatings shield wooden furniture from moisture and chemical harm. The rise in disposable income and living standards in developing nations has spurred a surge in demand for elegantly furnished smart homes. The market’s growth is determined based on application, technology, and resin type. Based on application, it is segmented into furniture and fixtures, floor, doors and windows, cabinet, and deck. 

The well-known companies in the wood coatings market include Nippon Paint Holdings Co Ltd, PPG Industries Inc, Asian Paints, The Sherwin-Williams Company, and RPM International Inc. 

Nippon Paint Holdings Co Ltd specializes in manufacturing and selling paints, coatings, and related equipment. Its product line includes surface treatment chemicals, electronic component materials, coatings, etc. These offerings serve diverse sectors, including automotive, construction, architecture, steelworks, marine, metals, electronics, machinery, infrastructure, and households. With a global presence spanning the US, UK, South Korea, China, Hong Kong, Thailand, Malaysia, and Singapore, Nippon Paint is headquartered in Osaka, Japan.


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 the Asia-Pacific 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 APAC wood coatings market’s growth during the upcoming years

Want to get specific insights? Our team of analysts can customize this report based on your preferences. Connect with us here.

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Table of Content

1. ASIA-PACIFIC 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. ASIA-PACIFIC WOOD COATINGS MARKET – BY RESIN TYPE

3.1. NITROCELLULOSE

3.2. POLYURETHANE

3.3. ACRYLIC    

3.4. OTHER RESIN TYPES

4. ASIA-PACIFIC WOOD COATINGS MARKET – BY TECHNOLOGY

4.1. POWDER COATINGS

4.2. WATER-BORNE

4.3. UV-CURED

4.4. SOLVENT-BORNE

5. ASIA-PACIFIC 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. ASIA-PACIFIC WOOD COATINGS MARKET – BY COUNTRY OUTLOOK

6.1. CHINA

6.1.1. CHINA WOOD COATINGS MARKET FORECAST & PROSPECTS

6.2. JAPAN

6.2.1. JAPAN WOOD COATINGS MARKET FORECAST & PROSPECTS

6.3. INDIA

6.3.1. INDIA WOOD COATINGS MARKET FORECAST & PROSPECTS

6.4. SOUTH KOREA

6.4.1. SOUTH KOREA WOOD COATINGS MARKET FORECAST & PROSPECTS

6.5. ASEAN COUNTRIES

6.5.1. ASEAN COUNTRIES WOOD COATINGS MARKET FORECAST & PROSPECTS

6.6. AUSTRALIA & NEW ZEALAND

6.6.1. AUSTRALIA & NEW ZEALAND WOOD COATINGS MARKET FORECAST & PROSPECTS

6.7. REST OF ASIA-PACIFIC

6.7.1. REST OF ASIA-PACIFIC 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

List of Tables

TABLE 1: ASIA-PACIFIC 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: ASIA-PACIFIC WOOD COATINGS MARKET, BY RESIN TYPE, 2024-2032 (IN $ MILLION)

TABLE 8: ASIA-PACIFIC WOOD COATINGS MARKET, BY TECHNOLOGY, 2024-2032 (IN $ MILLION)

TABLE 9: ASIA-PACIFIC WOOD COATINGS MARKET, BY APPLICATION, 2024-2032 (IN $ MILLION)

TABLE 10: ASIA-PACIFIC WOOD COATINGS MARKET, BY COUNTRY OUTLOOK, 2024-2032 (IN $ MILLION)

List of Figures

FIGURE 1: MARKET MATURITY ANALYSIS

FIGURE 2: SUPPLY CHAIN ANALYSIS

FIGURE 3: KEY BUYING IMPACT ANALYSIS

FIGURE 4: ASIA-PACIFIC WOOD COATINGS MARKET, BY RESIN TYPE, 2023 & 2032 (IN %)

FIGURE 5: ASIA-PACIFIC WOOD COATINGS MARKET, BY NITROCELLULOSE, 2024-2032 (IN $ MILLION)

FIGURE 6: ASIA-PACIFIC WOOD COATINGS MARKET, BY POLYURETHANE, 2024-2032 (IN $ MILLION)

FIGURE 7: ASIA-PACIFIC WOOD COATINGS MARKET, BY ACRYLIC, 2024-2032 (IN $ MILLION)

FIGURE 8: ASIA-PACIFIC WOOD COATINGS MARKET, BY OTHER RESIN TYPES, 2024-2032 (IN $ MILLION)

FIGURE 9: ASIA-PACIFIC WOOD COATINGS MARKET, BY TECHNOLOGY, 2023 & 2032 (IN %)

FIGURE 10: ASIA-PACIFIC WOOD COATINGS MARKET, BY UV-CURED, 2024-2032 (IN $ MILLION)

FIGURE 11: ASIA-PACIFIC WOOD COATINGS MARKET, BY WATER-BORNE, 2024-2032 (IN $ MILLION)

FIGURE 12: ASIA-PACIFIC WOOD COATINGS MARKET, BY POWDER COATINGS, 2024-2032 (IN $ MILLION)

FIGURE 13: ASIA-PACIFIC WOOD COATINGS MARKET, BY SOLVENT-BORNE, 2024-2032 (IN $ MILLION)

FIGURE 14: ASIA-PACIFIC WOOD COATINGS MARKET, BY APPLICATION, 2023 & 2032 (IN %)

FIGURE 15: ASIA-PACIFIC WOOD COATINGS MARKET, BY DOORS AND WINDOW, 2024-2032 (IN $ MILLION)

FIGURE 16: ASIA-PACIFIC WOOD COATINGS MARKET, BY FURNITURE AND FIXTURE, 2024-2032 (IN $ MILLION)

FIGURE 17: ASIA-PACIFIC WOOD COATINGS MARKET, BY CABINET, 2024-2032 (IN $ MILLION)

FIGURE 18: ASIA-PACIFIC WOOD COATINGS MARKET, BY FLOORING, 2024-2032 (IN $ MILLION)

FIGURE 19: ASIA-PACIFIC WOOD COATINGS MARKET, BY DECK, 2024-2032 (IN $ MILLION)

FIGURE 20: ASIA-PACIFIC WOOD COATINGS MARKET, BY COUNTRY OUTLOOK, 2023 & 2032 (IN %)

FIGURE 21: CHINA WOOD COATINGS MARKET 2024-2032 (IN $ MILLION)

FIGURE 22: JAPAN WOOD COATINGS MARKET 2024-2032 (IN $ MILLION)

FIGURE 23: INDIA WOOD COATINGS MARKET 2024-2032 (IN $ MILLION)

FIGURE 24: SOUTH KOREA WOOD COATINGS MARKET 2024-2032 (IN $ MILLION)

FIGURE 25: ASEAN COUNTRIES WOOD COATINGS MARKET 2024-2032 (IN $ MILLION)

FIGURE 26: AUSTRALIA & NEW ZEALAND WOOD COATINGS MARKET 2024-2032 (IN $ MILLION)

FIGURE 27: REST OF ASIA-PACIFIC WOOD COATINGS MARKET 2024-2032 (IN $ MILLION)

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