A research report of market research firm Reportlinker recently released show that the global wood resin market will reach $4 billion 240 million by 2021, a CAGR of 5.39%.

With the growing demand for environmental protection coating and the implementation of the VOC regulations, water-based coating resin and solventless resin market develop, in addition, the downstream industry demand in the next 5 years is expected to further promote the development of the global coatings resin market. Compared with solvent based paint, water-based paint price higher, aiming at the present situation that the solvent coating can not meet the requirements of VOC status,furniture manufacturers would choose water-based paint, but also more focus on the synthesis of sheet metal or other metal materials, and thus indirectly affect the development of the resin coating for wood.

Polyurethane wood coatings have excellent mechanical properties and chemical properties, and good compatibility, high ornamental, has excellent weather resistance, chemical resistance, solvent resistance, scratch resistance, UV resistance, abrasion resistance, temperature resistance, quick drying, construction and so on, so the polyurethane resin has been as a main force resin in market wood coatings.

The study pointed out that due to the improvement of the proportion of middle class population in the Asian-Pacific region, the increase in disposable income, the downstream industry consumer demand stimulus, this region has become the fastest growing wood coating resin market.