The furniture lacquer global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Furniture Lacquer Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size —
The furniture lacquer market size has grown strongly in recent years. It will grow from $9.57 billion in 2023 to $10.25 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to rising demand for furniture, growing preference for wooden furniture, growing popularity of diy furniture, expansion of the furniture industry, growing popularity of online furniture sales.
The furniture lacquer market size is expected to see strong growth in the next few years. It will grow to $13.12 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to continued growth of the global furniture, awareness of environmental sustainability, e-commerce growth, customization and personalization. Major trends in the forecast period include water-based lacquers, digital printing on lacquer, hybrid finishes.
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Scope Of Furniture Lacquer Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Furniture Lacquer Market Overview
Market Drivers –
The rise in the construction of new homes and home renovations is expected to propel the growth of the furniture lacquer market. New homes are buildings that are entirely new and have never been occupied. Home renovation brings a fresh look to a space while maintaining its original layout. Furniture lacquer is used in new homes and home renovations to provide an intense gloss finish to the new furniture and restore the glossiness of the old furniture. For instance, in March 2022, according to recent residential construction statistics released by the United States Census Bureau, a US-based principal agency, the privately-owned housing starts in the United States reached 1,769,000 in February 2022, up from 1,447,000 in February 2021, showing an increase of 22.3%. Further, in June 2022, RubyHome, a US-based luxury real estate brokerage, the US home remodeling revenue increased by 9% from $337.0 billion in 2020 to $369.0 billion in 2021 and in 2021 remodeling activity increased by 55%. Therefore, the rise in the construction of new homes and home renovations drive the growth of the furniture lacquer market.
Market Trends —
Major companies operating in the furniture lacquer sector are focused on developing new innovative products, such as Bona Traffic HD RAW, to strengthen their position in the market. Bona Traffic HD RAW is an aqueous two-component finish that preserves the look and feel of natural wood. It has an ultra-matte finish that produces a low sheen from all angles. For instance, in November 2021, Bona AB, a US-based manufacturer and supplier of floor care, launched Bona Traffic HD Raw, an ultra-matte, highly durable and protective lacquer. Bona Traffic HD Raw produces an incredibly tough, ultra-matte topcoat that is simple to apply and meets the demands of modern trends. This new finish is EC1 PLUS and GREENGUARD Gold certified for indoor air quality and has a quick dry and cure time.
The furniture lacquer market covered in this report is segmented –
1) By Type: Solvent Based; Water Based
2) By Finish: Gloss; Matte; Satin Or Semi-Gloss
3) By Application: Wood Furniture; Metal Furniture
4) By Distribution Channel: Online; Offline
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Regional Insights —
Asia-Pacific was the largest region in the furniture lacquer market in 2023. The regions covered in furniture lacquer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies —
Major players in the furniture lacquer market are BASF SE, The Sherwin-Williams Company, PPG Industries Inc., Akzo Nobel N.V., Nippon Paint Holdings Co Ltd., RPM International Inc., Axalta Coating Systems Ltd., The Valspar Corporation, Kansai Paint Co Ltd., Hempel A/S, Jotun Paints Inc., Comex Group, Berger Paints Ltd., Rust-Oleum Corporation, Chugoku Marine Paint Ltd., Minwax Company, Carpoly Chemical Group Co Ltd., Cloverdale Paint Inc., Chugoku Marine Paints Ltd., Adler Lack AG, Maydos Chemicals Co Ltd., Pacific Paint (Boysen) Philippines Inc., Tamiya Incorporated, Morrells Woodfinishes Ltd., Intercoat Paints Ltd., Pure & Original Paint.
Table of Contents
1. Executive Summary
2. Furniture Lacquer Market Report Structure
3. Furniture Lacquer Market Trends And Strategies
4. Furniture Lacquer Market — Macro Economic Scenario
5. Furniture Lacquer Market Size And Growth
…..
27. Furniture Lacquer Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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