Please Wait.....
Report
Canada Industrial Wood Coatings - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019-2029
Market Report I 2024-02-17 I 95 Pages I Mordor Intelligence
The Canadian industrial wood coatings market size has been estimated at USD 194.75 million in 2024 and is expected to reach USD 235.62 million by 2029, witnessing a CAGR of 3.88% during the forecast period.
Key Highlights
-Over the medium term, factors such as increasing consumer disposable income and an improving standard of life in Canada drive demand for furniture, which will likely drive demand for wood coatings.
-However, strict environmental regulations sewn in the economy in 2023 due to the geopolitical disturbances can negatively impact the growth in short-term.
Key Highlights
-Over the medium term, factors such as increasing consumer disposable income and an improving standard of life in Canada drive demand for furniture, which will likely drive demand for wood coatings.
-However, strict environmental regulations set by the government on the use of volatile organic compounds in the manufacturing of wood coatings are anticipated to hamper market expansion.
-Nevertheless, the advancements in coating technology and the employment of radiation cure coatings are projected to generate opportunities in the wood coating industry in the coming years.
Canada Industrial Wood Coatings Market Trends
Increasing Demand from Joinery Sector
- Industrial wood coatings protect joineries from natural and artificial factors, including water, sun, dust, and other chemical effects, such as oil and grease. In the joinery segment, industrial wood coatings are mainly applied in doors, windows, trims, and cabinets.
- Various door, windows, and cabinet manufacturing companies are expanding their production capacities in the country based on demand. For instance, in October 2022, Cabico&co, the Quebec-based manufacturer of high-end custom cabinetry, completed a significant expansion and upgraded its manufacturing facilities with an investment of around USD 25 million. The expansion includes a 200,000 sq. ft renovation, a 50,000 sq. ft plant, and administrative offices.
- Canada's kitchen cabinet manufacturing sector needs help with labor shortages, competitiveness, and increased business costs. As per the Canadian Kitchen Cabinet Association, the kitchen cabinet industry generates an estimated USD 3.5 billion in annual sales and employs more than 25,000 Canadians in an estimated 4,000 small and medium enterprises (SMEs).
- The need for joineries is significantly associated with the rise in new homes, as wood is the region's most common material for internal doors. In contrast, wooden and plastic doors are used for outside doors. For instance, in Canada, in 2022, new home construction started in Canada were 261,850 units.
- Thus, with the increasing number of housing construction units in Canada, the demand for wood coatings in the joinery sector is increasing, which is likely to drive market growth during the forecast period.
Rising Demand for Furniture
- The demand for furniture, such as chairs, tables, sofas, shelves, etc., has been increasing significantly as a result of the rising housing construction because of the growing population and increasing disposable income level in Canada.
- Furthermore, due to the improved programs and regulations around sustainable forestry as per the Canada Mortgage and Housing Corporation (CMHC) and the current housing stock construction rate, the housing stock is expected to increase to close to 19 million housing units by 2030. The demand for wooden kitchen cabinets and similar kinds of furniture is likely to increase in the forecast period.
- Over the past few years, the manufacture of office furniture has significantly boosted Canada's GDP. For instance, the GDP for the sector that manufactures office furniture was around CAD 1.66 billion (~1.2 USD billion) in February 2022, representing an increase of more than 40% compared to 2021.
- As per Canada Statistics, in 2022, the furniture market registered a revenue of CAD 18.03 billion, and the market is predicted to grow annually by 5.48% between 2022 and 2026.
- Similarly, as per Canada Mortgage and Housing Corporation, the newly constructed apartments and units in July 2023 were 1897, a rise from 1522 since January 2023. The establishment of new apartments is expected to increase in the near future. This is expected to increase the demand for furniture.
- Thus, increased demand for wooden furniture is expected throughout the forecast period, which is likely to result in higher consumption of wooden coatings in the country.
Canada Industrial Wood Coatings Industry Overview
The Canadian industrial wood coatings market is partially consolidated in nature. Some of the major players in the market are (not in any particular order) RPM International Inc., AkzoNobel NV, Axalta Coatings Systems, The Sherwin Williams, and PPG Industries Inc., among other companies.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Usage of Wooden Furniture
4.2.2 Increasing Demand From the Construction Industry
4.3 Market Restraints
4.3.1 Regulations Related to VOC Emissions
4.3.2 Availability of Alternative Materials in the Market
4.4 Industry Value Chain Analysis
4.5 Porter's Five Force Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Buyers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitute Products and Services
4.5.5 Degree of Competition
5 MARKET SEGMENTATION (Market Size in Value)
5.1 Resin Type
5.1.1 Epoxy
5.1.2 Acrylic
5.1.3 Nitrocellulose
5.1.4 Polyurethane
5.1.5 Polyester
5.1.6 Other Resin Types
5.2 Technology
5.2.1 Water-borne
5.2.2 Solvent-borne
5.2.3 UV Coatings
5.2.4 Powder
5.3 End-user Industry
5.3.1 Wooden Furniture
5.3.2 Joinery
5.3.3 Flooring
5.3.4 Other End-user Industries
6 COMPETITIVE LANDSCAPE
6.1 Market Share (%) **/Ranking Analysis
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 AkzoNobel NV
6.3.2 Axalta Coatings Systems
6.3.3 Jotun
6.3.4 PPG Industries Inc.
6.3.5 RPM International Inc.
6.3.6 Kansai Paint Co. Ltd
6.3.7 Nippon Paint Holdings Co. Ltd
6.3.8 Henkel AG & Co. KGaA
6.3.9 BASF SE
6.3.10 Katilac Coatings
6.3.11 CANLAK
6.3.12 The Sherwin Williams
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increasing Demand for Radiation-cured Coatings
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security