Wood Coating Market Report 2025

The wood coating market size has grown strongly in recent years. It will grow from $11.64 billion in 2024 to $12.48 billion in 2025 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to construction and furniture industries, architectural applications, consumer preferences for wood finishes, protection and durability requirements, renovation and restoration projects.

The wood coating market size is expected to see strong growth in the next few years. It will grow to $17.13 billion in 2029 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to rising demand for premium and custom finishes, growing market for outdoor wooden structures, expansion of the real estate sector, increased focus on UV-cured coatings. Major trends in the forecast period include integration of nanotechnology in coating formulations, focus on exterior wood coatings for weather resistance, customization of coating solutions for design trends, rising application of low-energy coatings, shift towards powder coatings for wood substrates.

The increase in new home construction and renovations is anticipated to drive growth in the wood coating market. The rising demand for housing stems from factors such as population growth, rapid urbanization, economic and infrastructure development, and favorable government policies and schemes aimed at housing. This surge in the construction of new homes and renovations will generate substantial demand for wood materials coated for use in these residential projects. Wood coatings not only enhance the aesthetic appeal but also ensure the durability of wooden materials used in homes. For example, in February 2022, the United States Census Bureau, in conjunction with the U.S. Department of Housing and Urban Development, reported that privately-owned housing starts in the United States reached 1,769,000, marking a significant 22.3% increase compared to the previous year. Therefore, the rise in new home construction and renovations is set to propel the growth of the wood coating market.

The burgeoning trends in renovation and remodeling are anticipated to drive the growth of the wood coating market in the forthcoming years. Renovation and remodeling involve the process of enhancing, modernizing, or modifying existing buildings or spaces to improve their functionality, aesthetics, or both. Wood coating, a prevalent finishing technique, finds widespread use in these projects. It serves the dual purpose of safeguarding wood surfaces against wear and tear while enhancing their appearance. For instance, as reported by Houzz Inc. in June 2022, the surge in home remodeling activity was expected to persist, with over half of homeowners expressing a desire for renovation (49%) and nearly two-fifths aiming to decorate (39%). Notably, projected homeowner spending for 2022 escalated to $25,000 from $15,000, reflecting a substantial 67% increase, marking the first such rise in three years. Hence, the escalating trends in renovation and remodeling activities stand as the driving force behind the growth of the wood coating market.

The wood coating market is seeing a rise in the popularity of eco-friendly coatings, which are made from natural or environmentally friendly substances and do not harm the environment. These coatings either support environmentally friendly practices such as resource conservation or prevent pollution. Waxes, oils, and shellac are among the most popular non-toxic, eco-friendly wood finishes available. Key players in the industry are focusing on offering eco-friendly wood coatings to minimize environmental impact and gain a competitive advantage. For example, Centurion Wood Coatings, a US-based company, offers a range of Water-Based Coatings that are eco-friendly and deliver exceptional performance with high clarity, wood warmth, and durability. These coatings can be applied to various wood surfaces such as furniture, cabinetry, wood floors, high-end architectural millwork, and other interior wood applications. They offer benefits such as non-flammability, low odor, ease of handling, and water clean-up, making them suitable for environmentally conscious consumers and businesses.

Leading companies in the wood coating market are focusing on the development of waterborne wood coatings to minimize environmental impact. Waterborne wood coatings utilize water as the primary solvent, significantly reducing the use of volatile organic compounds (VOCs) and offering a more eco-friendly alternative. For example, in August 2024, Axalta, a U.S.-based paint and coating manufacturer, introduced Cerulean, a new line of waterborne industrial wood coatings. This product range serves as an advancement over the earlier Zenith coatings, aiming to deliver the luxurious finish associated with solvent-based solutions while providing the environmental advantages of low-VOC formulations.

In March 2022, Gemini Coatings, a US-based wood coatings manufacturing company, acquired Lenmar Wood Finishes & Coatings from Benjamin Moore for an undisclosed sum. This strategic acquisition is aligned with Gemini's commitment to delivering outstanding service, consistent product quality, and reliable expertise. By integrating Lenmar into its operations, Gemini aims to enhance its ability to provide a world-class customer experience, leveraging the dedicated focus of its employee-owners on the wood coatings market. Lenmar Wood Finishes & Coatings is a brand specializing in wood coating solutions under Benjamin Moore, a US-based paint and coating manufacturing company.

Major companies operating in the wood coating market include BASF SE, The Sherwin-Williams Company, PPG Industries Inc., Akzo Nobel N.V., Sika AG, Nippon Paint Holdings Co Ltd., MAS Paints Group, RPM International Inc., Axalta Coating Systems Ltd., Cabot Corporation, The Valspar Corporation, Kansai Paint Co Ltd., Jotun A/S, Hempel A/S, Berger Paints India Limited, Benjamin Moore & Co Inc., Rust-Oleum Corporation, Tikkurila Oyj, Brillux GmbH & Co KG, Teknos Group Oyj, National Paints Factories Co Ltd., Ritver Paints & Coatings, Kemppi Oyj, Everbuild Building Products Ltd., Kusumgar Corporates, KAPCI Coating PvtLtd., Ceramic Industrial Coatings, Caparol AG, Eliokem Inc., Herberts GmbH & Co KG, Wacker Chemie AG.

Asia-Pacific was the largest region in the wood coating market in 2024. Asia-Pacific is expected to be the fastest-growing region in the wood coating market report during the forecast period. The regions covered in the wood coating market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the wood coating market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Wood coatings are substances applied to wooden surfaces to protect them from natural and man-made damage, providing easy cleaning, disinfection, and enhanced durability.

The main types of wood coatings are preservative wood coatings, stain wood coatings, and shellac wood coatings. Shellac is a warm-colored wood finish that can be easily applied with a rag, brush, or sprayer, and it dries quickly, allowing for multiple coats in a single day. It is an ancient natural finish. Additionally, wood coatings include water-borne wood coatings, solvent-borne wood coatings, and powder wood coatings. These coatings are used on furniture, cabinets, siding, flooring, and various other applications.

The wood coating market research report is one of a series of new reports that provides wood coating market statistics, including wood coating industry global market size, regional shares, competitors with a wood coating market share, detailed wood coating market segments, market trends and opportunities, and any further data you may need to thrive in the wood coating industry. This wood coating market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The wood coating market consists of sales of penetrating finishes and surface finishes. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 3-5 business days.