DSM: global furniture paint market

Global wood furniture paint market 2019-2023 trend according to the data of British market research company technavio, the global wood furniture paint Market (including solvent based, water-based, UV curing, powder coating) is expected to grow by USD 1.96 billion (CAGR: + 6.17%) from 2019 to 2023. Brigitte Jacobs, global furniture market manager, DSM paint resin, estimates that the global wood furniture paint market will grow to $4.4 billion by 2021. The overall growth of wood furniture coating market can be attributed to the growth of global population and the recovery of housing market. These two factors increase the public demand for beds, tables and chairs, wooden frames, etc. At the same time, the concept of interior decoration of home, office and hotel is also constantly updated, further promoting the development and innovation of the industry. Globally, the Asia Pacific region (including India, South Korea and Japan) has seen a rapid growth in wood coatings. In 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, Asia Pacific accounted for 55% of the global furniture production market in 2015, while Europe and the United States accounted for 26% and 14% respectively in the same period. The growth of Asia Pacific market benefits from the new trend of furniture industry.

Jacobs summarizes three main trends: ① the growing demand of the public (including policies) for more environmentally friendly and green furniture drives enterprises to turn to more sustainable solutions, such as coatings and renewable raw materials with lower VOCs; ② with the introduction of the global logging ban, there will be more and more types of wood furniture materials; ③ online ordering will increase, and consumers expect shorter delivery time, more time-saving and customized customers are the current needs of all people. More flexible and rapid production process can help to achieve a higher degree of customization, but also reduce the pressure of capital turnover of furniture manufacturers, reduce the total operating cost. In addition, due to cost considerations, some furniture manufacturers also choose to produce paint free furniture to pursue higher efficiency. At the same time, this trend also promotes the application of powder coating in wood furniture market. The development of more advanced curing technology is the key to strengthen treatment effect, improve efficiency, better control luster and reduce energy demand. The rapid development of automation is also worthy of attention. It helps the entire value chain improve efficiency and reduce operating costs. There is also a big change is the change of consumer's style of home design, especially the requirement of color and luster effect is more and more diverse. Therefore, it is very important to keep up with the latest design trend and provide customers with innovative solutions in line with modern lifestyle. The main chemicals in wood furniture paint resin include polyurethane, nitrocellulose, acrylic acid and polyester, which are used to prepare solvent based, waterborne, UV and powder coatings. Two thirds of the world's wood furniture coatings are still based on solvent based resins. The remaining one-third is mainly water-based resin technology (1K / 2K / wbuv) and 100% - UV technology.

At present, the powder resin occupies a very small share in the whole wood furniture coating market. We see more and more furniture manufacturers in order to reduce the ecological footprint, adapt to more stringent environmental regulations, and obtain more outstanding performance, from the traditional solvent-based paint system to solvent-free or less solvent paint system. The choice of paint type depends on the type of furniture and the ability and cost of the manufacturer. For the application of assembled housing, the traditional solvent based wood paint is still the leading market. In the Asia Pacific region, the development of water-based coating system is very fast, for example, more and more water-based technology in China is a good example. In the automatic production environment involving more panel furniture, 100% UV and water-based UV technology has been more and more popular with its excellent durability and rapid production efficiency. In addition, the latest development of wood furniture paint technology focuses on the development of resins with high performance and containing plant-based components, and then the preparation of low VOC, high-performance sustainable coatings. As renewable materials begin to replace fossil components in coatings, the environmental protection and health value of coatings will go up to a higher level. Although this transformation is still in the initial stage, it may take some time to become the mainstream, but the development of new technology has promoted the development of eco-friendly coatings. The application of UV coating technology is also becoming the 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 affordable. At the same time, furniture manufacturers are increasingly aware of the importance of energy saving and reducing the total operating cost. With the growth of consumer demand for wood furniture and the expansion of middle class groups around the world, wood furniture paint market will continue to grow strongly. Jacobs believes that sustainable and eco-friendly solutions will be greatly developed. Consumers are increasingly aware of the importance of sustainable life, and this awareness of environmental protection will only increase in the future. With the increasing demand for environmental protection products, the market potential of waterborne coatings is huge, which creates a good opportunity for the current and future market.

In addition, it should be noted that in the housing market, due to the strong cost competition pressure, overseas imports will gain more shares in the mature market in the medium and long term. In the office furniture market, the concept of more open office space and less quantity of furniture are the future trend, and the market pattern will change. Digital technology and flexible office strategies will 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 the international hotel chain, 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 significant position with its strong cost competitiveness. DSM, as the market leader of waterborne industrial wood paint resin, will continue to appear in this year's China International Paint Exhibition (Booth No.: w2.e05). At that time, we will launch a new water-based polymerization technology 1kfor2k series, water-based UV series, and a new plant-based industrial wood resin series will also debut for the first time. Tianrui Gamma Plant based industrial wood coating resin not only provides excellent performance, but also has less impact on the environment. Dian an Gamma Resin has been used in a wide range of indoor and outdoor fields, with plant-based content of nearly 50%, and green energy production. Compared with the traditional waterborne coating resin system, dianrui Gamma Up to 34% reduction in carbon footprint. At the same time, the VOC content of the resin is less than 5% and the odor is low. All of them meet the ecological labels such as Ecolab, Nordic swan, the Blue Angel (Der blaueengel) and agbb, making the coating formula completely meet or even higher than the regulatory requirements.