Oily Wood Coating Trends and Forecast
The future of the global oily wood coating market looks promising with opportunities in the furniture, flooring, and door & window markets. The global oily wood coating market is expected to grow with a CAGR of 14.3% from 2024 to 2030. The major drivers for this market are growing demand for durable outdoor wood protection solutions, rising preference for eco-friendly and low-voc coating products, and expansion in the residential and commercial construction activities globally.
Country Wise Outlook for the Oily Wood Coating Market
Major players in the market are expanding their operations and forming strategic partnerships to strengthen their positions. The image below highlights recent developments by major oily wood coating producers in key regions: the USA, China, India, Japan, and Germany.
• United States: To adhere to regulatory restrictions, companies are making their cosmetics low VOC. Natural resin maleic coatings are also becoming popular as they provide more protection with less damage to the environment.
• China: Manufacturers have come to realize that awareness of environmental protection and regulations is continuously increasing. Waterborne oily wood coatings have emerged as advancements in application technology improve efficiency and product performance.
• Germany: There has been an increasing incidence of bio-based household coatings in Germany, while local producers have been sourcing new raw materials to satisfy the practical construction and furnishing market that desires eco-friendly products.
• India: In India, the booming construction and furniture market has witnessed a rising inclination toward economically viable, easy-to-use oily wood coatings. Current trends focus on better durability of the product and versatile usage in extreme climatic conditions.
• Japan: In Japan, manufacturers are paying more attention to UV-curable oily wood coatings, which have shorter curing times compared to waterborne oily coatings. There is a high demand in Japan for quality interior and exterior coatings.
Emerging Trends in the Oily Wood Coating Market
The oily wood coating market is in transition as stakeholders strive to address environmental concerns and technological advancements alongside changing tastes. Several trends are emerging, including shifts in both demand and product innovation.
• The trend toward waterborne coatings: Due to increasing environmental regulations, more manufacturers are switching to waterborne coatings that have lower VOC emissions and are safer while still achieving their quality and performance standards.
• Bio-Based Formulations: Industrial growth and environmental concerns have driven the development of bio-based formulations that use natural oleo chemicals instead of petrochemical-based products.
• UV-Curable Coatings: Another coating witnessing growing adoption is the UV-curable coating, due to its excellent fast-drying properties and remarkable durability, solving the need in busy business venues where time and performance are highly regarded.
• Nanotechnology in Coatings: The incorporation of nanotechnology into oily wood coatings improves protective attributes, such as resistance to scratches and blemishes, as well as ultraviolet protection.
• Smart Coatings with Self-Healing Properties: Smart self-healing coatings for wood surfaces are under development; these coatings are designed to last longer and require limited maintenance, even for outdoor wood surfaces.
These trends are changing the contours of the oily wood coating market in terms of sustainability, technology, and performance, thus providing more avenues for both manufacturers and consumers.
Recent Developments in the Oily Wood Coating Market
Over the past few years, the oily wood coating market has witnessed numerous changes driven by innovation, regulatory updates, and shifts in consumer behavior. These developments are defining the industry’s future and expanding its product portfolio.
• Introduction of Low-VOC Coatings: The introduction of low-VOC formulations addresses environmental concerns related to air pollution and the risks to human health posed by conventional coatings.
• Advancements in Bio-Based Materials: Natural oil and renewable resource-derived fibrous materials are becoming more common in the market, with an emphasis on high-quality, durable, and sustainable raw materials.
• Growth in UV-Curable Technologies: Due to their advantages and quick-drying characteristics, UV-curable coatings have become popular among many manufacturers, allowing them to reduce lead times while providing excellent protection and finishes.
• Increased Focus on Durability and Longevity: There is a growing demand for coatings that are longer-lasting and more durable in high-growth market regions such as India and China, where environmental conditions can be harsh and cost-effective measures are essential.
• Expansion of Application Technologies: The continuous introduction of innovative application technologies, such as spray systems and automated coating solutions, is enhancing coating processes in large-scale production facilities.
These developments are playing a significant role in enhancing the oily wood coating market, delivering sustainable, high-performing, and industry-focused products.
Strategic Growth Opportunities for Oily Wood Coating Market
Strategic Growth Opportunities in the oily wood coating market are discussed below:
• Size Trends Driving the Market: The current demand for wood reflects residential desires for architectural design and styled interiors, which has increased the need for high-grade, environmentally safe oily wood coatings that are wear-and-tear resistant yet aesthetically pleasing.
• Furniture Manufacturing: The furniture coatings market has shifted towards the development of cost-competitive, healthful, and durable long-lasting coatings, particularly in countries like India and China, as the market for furniture has grown.
• Outdoor Decking and Fencing: Increased outdoor living activities have created a new market for weather-resistant coatings, providing manufacturers with the opportunity to design wood protection coatings that prevent UV degradation, moisture exposure, and wear.
• Commercial Buildings: There is a growing need for coatings for commercial building construction projects that are feasible in terms of application speed and cost, attracting attention to UV-curable coatings with fast-drying properties and strong protection.
• Restoration and Maintenance: A unique niche of specialty coatings exists that offers restoration of wooden structures while preserving the historical character of the architecture and providing modern-day protection to the structures.
Strategic growth opportunities in the oily wood coating market exhibit broader dispersion across key applications due to the influence of technological advancements, sustainability, and growing customer needs.
Oily Wood Coating Market Driver and Challenges
The oily wood coating market is shaped by various drivers and challenges, including advancing technology, economic factors, and regulatory concerns. Understanding these factors is helpful for market players.
The factors responsible for driving the oily wood coating market include:
• Sustainability Concerns: The market for low-VOC and bio-based coatings, which have a low environmental impact, is growing due to increasing consumer demand regarding environmental compliance issues. This calls for manufacturers to invest in new environmentally friendly solutions.
• Technological Advancements: The evolution of application technologies like UV curing and spray coating has facilitated high reliability and product quality, with reduced manufacturing lead times, enabling manufacturers to address market needs more effectively.
• Urbanization and Construction Growth: The phenomenon of urbanization is prevalent in many emerging economies, such as India and China, which is increasing the demand for wood coatings, especially in the construction and furniture industries, with significant market expansion opportunities. Developing economies like China and India seek to build massive skyscrapers to keep up with the growing hospitality and business tourism sectors.
• Regulatory Pressures: Stringent environmental regulations in many countries have resulted in a controversy whereby traditional coatings manufacturers must find different approaches to minimize emissions while embracing smart innovation.
• Aesthetic Preferences: As consumers become increasingly demanding regarding finish quality and appearance, they are gravitating toward more expensive wood coatings.
This trend is prompting manufacturers to shift their focus to coating characteristics and aesthetics.
Challenges in the oily wood coating market include:
• Challenges in Raw Material Sourcing: There are issues associated with sourcing natural oils or wood-based materials, as their prices tend to fluctuate, affecting production and pricing in the market.
• Competition from Alternatives: Increasing competition from synthetic and other alternative coatings poses a threat to the oily wood coating market, necessitating innovation and the development of sustainable new products.
• Technological Barriers in Developing Regions: There are significant markets for these technologies in developing countries, but barriers to technology application will be higher due to the expense of advanced GMA systems, dry spray booths, and market immaturity, which will hinder system penetration.
• Environmental Impact of Traditional Coatings: Solvent-borne coatings are still widely accepted in certain markets, but they pose pollution problems and do not support the use of green options in those areas due to a lack of strict policies.
• Consumer Awareness: Educating consumers about the significance of “green” and efficient coatings remains a challenge, as many still opt for traditionally available inexpensive options for convenience.
The drivers and challenges in the oily wood coating market highlight the need for new product development in response to ongoing business trends in sustainability, regulation, and changes in consumer behavior. These factors will shape future market trends.
List of Oily Wood Coating Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. Through these strategies oily wood coating companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the oily wood coating companies profiled in this report include-
• Arkema Group
• Royal Dsm
• Allnex
• Dynea
• Helios Group
• Sirca Spa
• Ivm Group
• Synthopol Chemie
• Polynt
• Nuplex Corporate
Oily Wood Coating by Segment
The study includes a forecast for the global oily wood coating market by type, application, and region.
Oily Wood Coating Market by Type [Analysis by Value from 2018 to 2030]:
• Solvent Borne
• High-Solids
• Radiation Curable
• Others
Oily Wood Coating Market by Application [Analysis by Value from 2018 to 2030]:
• Furniture
• Flooring
• Doors & Windows
• Others
Oily Wood Coating Market by Region [Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
Oily Wood Coating Market Insights
• Lucintel forecasts that, within the type category, solvent borne is expected to witness the highest growth over the forecast period.
• Within the application category, furniture is expected to witness the highest growth.
• In terms of regions, APAC is expected to witness the highest growth over the forecast period.
Features of the Global Oily Wood Coating Market
Market Size Estimates: Oily wood coating market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Oily wood coating market size by type, application, and region in terms of value ($B).
Regional Analysis: Oily wood coating market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different type, application, and regions for the oily wood coating market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the oily wood coating market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
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FAQ
Q1. What is the growth forecast for oily wood coating market?
Answer: The global oily wood coating market is expected to grow with a CAGR of 14.3% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the oily wood coating market?
Answer: The major drivers for this market are growing demand for durable outdoor wood protection solutions, rising preference for eco-friendly and low-voc coating products, and expansion in the residential & commercial construction activities globally.
Q3. What are the major segments for oily wood coating market?
Answer: The future of the oily wood coating market looks promising with opportunities in the furniture, flooring, and door & window markets.
Q4. Who are the key oily wood coating market companies?
Answer: Some of the key oily wood coating companies are as follows:
• Arkema Group
• Royal Dsm
• Allnex
• Dynea
• Helios Group
• Sirca Spa
• Ivm Group
• Synthopol Chemie
• Polynt
• Nuplex Corporate
Q5. Which oily wood coating market segment will be the largest in future?
Answer: Lucintel forecasts that, within the type category, solvent borne is expected to witness the highest growth over the forecast period.
Q6. In oily wood coating market, which region is expected to be the largest in next 5 years?
Answer: In terms of regions, APAC is expected to witness the highest growth over the forecast period.
Q.7 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the oily wood coating market by type (solvent borne, high-solids, radiation curable, and others), application (furniture, flooring, doors & windows, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Oily Wood Coating Market, Oily Wood Coating Market Size, Oily Wood Coating Market Growth, Oily Wood Coating Market Analysis, Oily Wood Coating Market Report, Oily Wood Coating Market Share, Oily Wood Coating Market Trends, Oily Wood Coating Market Forecast, Oily Wood Coating Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.