Yuan Lei tells you the trend of the global water-based wood paint market (including solvent-based, water-based, UV curing, powder coating)

Release time:

2024-01-29 09:37


Yuan Lei tells you the trend of the global water-based wood paint market (including solvent-based, water-based, UV curing, powder coating)


According to data Technavio by the British market research company, the global wood furniture paint market (including solvent-based, water-based, UV-curable, powder coatings) is expected to grow by US $1.96 billion (CAGR:+6.17%) from 2019 to 2023. Industry insiders estimate that the global wood furniture paint market will increase to $4.4 billion by 2021. The overall growth of the wood furniture coatings market can be attributed to the growth of the global population and the recovery of the housing market. These two factors have increased the demand for beds, tables and chairs, wooden frames, etc. At the same time, the interior decoration concept of home, office and hotel is constantly updated, further promoting the development and innovation of the industry.


Worldwide, the fastest growing wood coatings are in the Asia-Pacific region (including India, South Korea and Japan). Over the next four years, nearly 60% of the growth will come from the region. According to the results of CSIL, an Italian market research company, in 2015, Asia Pacific accounted for 55% of the global furniture production market, while Europe and the United States accounted for 26% and 14% respectively in the same period.


Three major trends in the Asia-Pacific market:
The growing demand for more environmentally friendly green furniture from Volkswagen (including policy) is prompting companies to shift to more sustainable solutions, such as moving to lower VOCs coatings and renewable raw materials;
2 with the introduction of the global logging ban, wood furniture material types will be more and more;
3 Online ordering increases, while consumers expect shorter delivery times, more time-saving and customer customization are the needs of everyone at the moment.


More flexible and faster production processes help to achieve a higher degree of customer customization, while also reducing the pressure on the capital turnover of furniture manufacturers and reducing total operating costs. In addition, due to cost considerations, some furniture manufacturers also choose to produce paint-free furniture in pursuit of higher efficiency. At the same time, this trend has also promoted the application of powder coatings in the wood furniture market. The development of more advanced curing technology is the key to strengthening the treatment effect, improving the efficiency, better controlling the gloss and reducing the energy demand.


The rapid development of automation is also worth noting, it is helping the entire value chain to improve efficiency and reduce operating costs. There is also a big change is the change of consumer design style, especially for color, gloss effect requirements are more and more diverse. As a result, it is critical to keep up with the latest design trends and provide customers with innovative solutions that fit the modern lifestyle.


The main chemicals in wood furniture paint resins include polyurethane, nitro, acrylic and polyester, which are used to formulate solvent-based, water-based, UV and powder coatings. The world's 2/3 wood furniture coatings are still based on solvent-based resins. The remaining 1/3 are mainly water-based resin technology (1K/2K/WB UV) and 100-UV technology.


We see more and more furniture manufacturers in order to reduce the ecological footprint, adapt to more stringent environmental regulations, while obtaining more outstanding performance, from the traditional solvent-based coating system to water-based coating system. The choice of coating type depends on the type of furniture and the manufacturer's ability and cost, etc. For assembled residential applications, traditional solvent-based wood coatings are still the market leader. In the Asia-Pacific region, the development of water-based coating systems is very fast, such as China's increasing shift to water-based technology is a good example. In the automatic production environment involving more flat furniture, 100%UV and water-based UV technology are more and more favored by its excellent resistance and rapid production efficiency.


In addition, recent developments in wood furniture paint technology have focused on the development of resins with high performance and plant-based ingredients to formulate low-VOC, high-performance sustainable coatings. As renewable materials begin to replace fossil components in coatings, the environmental health value of coatings will rise to the next level. Although this transition is still in the early stages and may take some time to become mainstream, the development of new technologies has promoted the development of eco-friendly coatings.


The application of UV coating technology is also becoming mainstream and has a significant impact. This is because the total investment cost of UV-LED equipment is reduced, making UV-LED coating technology more economical, and furniture manufacturers are increasingly aware of the importance of energy saving and reducing total operating costs.


With the growth of consumer demand for wood furniture and the expansion of middle class groups around the world, the wood furniture paint market will continue its strong growth momentum. There is reason to believe that sustainable and eco-friendly solutions will grow. Consumers are increasingly aware of the importance of sustainable living, and this environmental awareness will only increase in the future. With the increasing demand for environmentally friendly products, the market potential of water-based coatings is huge, and this trend creates good opportunities for the current and future markets.


Another point worth noting is that in the housing market, due to strong cost competition pressure, overseas imports will gain more share in mature markets in the medium and long term. In the office furniture market, a more open concept of office space and a smaller number of furniture are the future trends, and the market structure will undergo new changes. Digital technology and flexible office strategies will also continue to reduce storage requirements in the workplace, and customization and just-in-time delivery will become an important feature of the market in the medium term. In the hotel furniture market, such as international hotel chains, the global footprint of customers can be used to achieve economies of scale. In this case, the Asian market is expected to gain a more important position with strong cost competitiveness.

Waterborne, furniture, coatings, market, wood, global, technology, uv, cost

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