Coatings World - February 2017

FEATURE Catherine Diamond, Associate Editor

The global wood coating resins market is projected to reach $4.24 billion by 2021, at a CAGR of 5. 39 percent hrough 2021, according to a recent report by Markets and Markets. Researchers found that growth in the global wood coating resins market is due to the eco-friendly properties of wood coating resins, healthier coating systems, more durable coating resins with better performance and better aesthetics, the growing demand for waterborne and solvent-free coating resins, VOC regulations driving the demand for waterborne coating resins, and the growing end-use industries.

The most dominant application segment in the global wood
coating resins market is furniture, according to Markets and
Markets. “Modern indoor and outdoor furniture has an increas-
ing array of functions that need different kinds of coatings,”
the report states. “Superior resistance to dirt, abrasion, and wa-
ter are the most signi;cant properties required for wood coat-
ing resins for the furniture application. Additionally, superior
chemical resistance to shoe polish, nail polish remover, soft
drinks and other agents that might be commonly found in of-
;ce environments was also identi;ed as an important criterion
for of;ce wood coatings. There is a growth in the demand for
modern as well as traditional furniture in the market and the
demand for furniture is directly proportional to the demand for
wood coating resins.”
Within the global wood coatings market, waterborne coat-
ings were found to be the fastest-growing technology. In many
cases, Markets and Markets researchers wrote, waterborne
wood coating resins exceed the performance and application
properties of existing solvent-based wood coating resins. “This
technology offers excellent performance properties such as early
chemical resistance, block and print resistance, and hardness,”
researchers said.