Durability, ease in cleaning and high performance are critical to consumers when they look for wood coatings.

Photo courtesy of Dutch Boy Paints

When people think of painting their homes, it isn’t just interior and exterior areas that can use refreshing. For example, decks can use staining. On the inside, cabinets and furniture can be recoated, giving it and its surroundings a fresh new look.

The wood coatings segment is a sizable market: Grand View Research places it at $10.9 billion in 2022, while Fortune Business Insights predicts it will reach $12.3 billion by 2027. Much of it is DIY, as families take on these home improvement projects.

Brad Henderson, director, product management at Benjamin Moore, observed that the wood coatings market fared slightly better than the architectural coatings as a whole.

“We believe the wood coatings market correlates with the housing market and over indexes on home improvements and maintenance, such as deck maintenance and outdoor home improvement expansions,” Henderson reported.

Bilal Salahuddin, regional commercial director of AkzoNobel’s Wood Finishes business in North America, reported that 2023 was a tough year due to the overall macro-economic climate around the globe leading to unfavorable conditions.

“Wood finishes serve highly discretionary spend categories, hence inflation has a disproportionately high impact on our end markets,” said Salahuddin. “Furthermore, the final products are tied in closely with the housing market, which, in turn, was significantly challenged due to high interest rates and rising house prices.

“Looking forward, while the outlook for 2024 is stable in the first half, we’re cautiously optimistic about things picking up towards the back end of the year leading into strong recovery during 2025 and 2026,” Salahuddin added.

Alex Adley, woodcare and stain portfolio manager, PPG Architectural Coatings, reported that the stain market, overall, showed limited, single-digit percentage growth in 2023.

“Growth areas in wood coatings in the U.S. and Canada were seen on the Pro side when it came to specialized use, including doors and windows and log cabins,” Adley said.

Growth Markets for Wood Coatings

There are plenty of opportunities for growth in the wood coatings sector. Maddie Tucker, senior brand manager woodcare, Minwax, said one key growth market in the industry is the increasing demand for durable and high-performance products that offer long-lasting protection and aesthetics to various surfaces.

“Once consumers complete a project, they want it to last, and customers are looking for interior wood coatings that can withstand daily wear and tear, stains, dirt, mildew and corrosion,” Tucker observed. “A polyurethane wood finish can help with interior projects as it’s one of the most durable coatings for wood protection – protecting against scratches, spills and more – and is a clear coat. It’s also very versatile as the Minwax Fast-Drying Polyurethane Wood Finish can be used on both finished and unfinished wood projects and is available in a variety of sheens.”

“The wood coatings market is experiencing growth driven by factors such as construction and real estate developments, increasing global demand for furniture, interior design trends, renovation projects, and due to a focus on eco-friendly options, growth in coatings utilizing technological advancements like UV-curable coatings and water-based formulations,” said Rick Bautista, director of product marketing, Wood & Floor Coatings Group at BEHR Paint. “These trends indicate a dynamic market with opportunities for manufacturers and suppliers to cater to diverse consumer needs and preferences while addressing environmental considerations.”

“The wood coatings market correlates with the housing market; and we expect the housing market to be very regionalized and local in 2024,” Henderson noted. “In addition to staining a deck or house siding, a trend that is seeing a resurgence is staining outdoor furniture projects.”

Salahuddin pointed out that wood coatings serve critical segments such as building products, cabinets, flooring and furniture.

“These segments continue to have strong underlying trends in the long term that will continue to grow the market,” Salahuddin added. “For example, we operate in many markets that have growing populations and a housing shortage. Furthermore, in many countries, existing homes are aging and require remodeling and renovation.

“Technology’s also shifting, which provides an opportunity to continue to promote wood as a material of choice,” added Salahuddin. “Customer demands and requirements have been evolving with a consistent focus on key areas outlined in previous features. In 2022, subjects such as indoor air quality, formaldehyde-free products, fire retardants, UV curing systems, and anti-bacteria/anti-virus solutions remained important. The market demonstrated a growing awareness of wellness and sustainability.

“In 2023, these topics maintained their relevance with a notable increase in the adoption of waterborne technology,” Salahuddin noted. “Additionally, sustainable solutions, including bio-based/renewable products, low-energy curing solutions, and products with extended durability, have become more important. The emphasis on these technologies underscores a commitment to future-proof solutions, and substantial R&D investments continue in these areas. AkzoNobel aims to be a genuine partner for customers, supporting them in their sustainability journey and providing innovative solutions aligned with evolving industry needs.”

Trends in Wood Care Coatings

There are some interesting trends to note. For example, Bautista said that in the realm of wood care coatings, the latest trends emphasize a combination of vibrant colors, enhanced performance,and user-friendly application methods.

“Consumers are increasingly drawn to bold and unique color options to personalize their spaces, alongside coatings that offer superior protection against wear, scratches,” Bautista said. “Simultaneously, there’s a growing demand for coatings that are easy to apply, whether through spray, brush, or wipe-on methods, catering to both professionals and DIY enthusiasts.”

“The current trends in coatings development reflect a careful consideration of the latest design preferences,” said Salahuddin. “AkzoNobel’s technical service and global color and design teams collaborate closely to ensure that the finishes are not only robust, but also suitable for industrial applications worldwide.

“In response to contemporary influences and high-end design preferences, there’s an acknowledgment of the need for belonging and reassurance in the face of an uncertain world. People are seeking environments that exude calmness while providing moments of joy in their everyday experiences,” said Salahuddin. “AkzoNobel’s Color of the Year for 2024, Sweet Embrace, embodies these sentiments. This welcoming pastel pink, inspired by soft feathers and evening clouds, aims to evoke feelings of peace, comfort, reassurance and lightness.”

“Colors are trending away from pale blonde colors, toward darker browns,” Adley reported. “In fact, PPG’s woodcare brands kicked off the busiest time of year for exterior stains on March 19, by announcing PPG’s 2024 Stain Color of the Year as Black Walnut, a color that encompasses the trend in colors right now.”

“There is a trend in wood finishes right now that leans into warmer midtones and ventures into darker shades,” said Ashley McCollum, PPG marketing manager and global color expert, architectural coatings, in announcing the Stain Color of the Year. “Black Walnut bridges the gap between those tones, exuding warmth without going into red hues. It’s a versatile shade that exudes elegance and welcomes guests with a warm embrace.”

Adley added that easier cleaning is of interest to users.

“Customers are trending toward lower VOC products, which provide an easier clean up after staining by simply using soap and water,” Adley noted.

“The wood coatings industry is trending toward making stain easier and safer,” Adley said. “PPG’s woodcare brands, including PPG Proluxe, Olympic and Pittsburgh Paints & Stains, intend to ensure that pro and DIY customers have the information and tools they need to make the right purchase and feel comfortable using our products.”

“In terms of trending colors, we’re seeing a rise in the popularity of earthy hues with gray colors,” said Sue Kim, director of color marketing, Minwax. “This trend is pushing wood floor colors to lighten up and ensure the natural look of the wood comes through. As a result, consumers are turning to products like Minwax Wood Finish Natural, which has a hint of warmth with transparency that brings out the natural wood.

“Light gray on wood floors also pairs best with the earthy tone of living spaces. Combine grays with multiple colors on furniture or cabinets to bring in playful looks with Minwax Water Base Stain in Solid Navy, Solid Simply White, and the 2024 Color of the Year Bay Blue,” Kim added. “Additionally, demand for water-based wood stains, such as Minwax’s Wood Finish Water-Based Semi Transparent and Solid Color Wood Stain, is increasing due to their better drying time, ease of application, and reduced odor.”

“We continue to see the trend of ‘open space’ living expanding into the outdoors, including TV, entertainment, cooking – grills, pizza ovens, etc.,” said Henderson. “With this, we also see the trend of homeowners wanting their interior colors and spaces to match their exterior areas. From a product performance perspective, consumers are prioritizing ease of use and maintenance in order to keep their spaces beautiful.

“The rise in popularity of warm colors is another trend that we have seen in wood care coatings,” added Henderson. “This was one of the reasons why we added Chestnut Brown as one of the ready-made color options in our Woodluxe Translucent opacity.”

DIY Trends

During the pandemic, DIY projects flourished, but the trend of increased DIY spending as a result of people spending more time at home has slowed down a bit.

“The activity has somewhat slowed due to a confluence of various factors such as generally high inflation, high interest rates and a difficult housing market with low units exchanged but at very inflated price,” said Salahuddin. “However, we believe the fundamentals haven’t changed and spending will pick up after this period of stabilization.”

“We saw a large spike in the DIY segment when everyone was spending 100 percent of their time at home,” Henderson said. “Recently, the DIY segment has decreased as consumers have prioritized other necessities and experiences over home improvement.”

Adley noted that while the DIY stain market is still growing, the rate has slowed since the pandemic. Meanwhile, the Pro customer demand continues to be strong.

Michelle Bangs, senior brand manager, Dutch Boy Paints, noted that homeowners are staying put longer.

“Interest rates are playing a key role in keeping these owners with low rates in their homes, which is being coined the ‘lock-in effect’,” Bangs observed. “As homeowners stay in place, they will continue to seek affordable home updates, continuing to use paint as an easy and inexpensive way to make a big impact to transform their space.”

 source：coatingsworld.