Overview and Scope
Furniture paint is a specialized paint explicitly designed for application on furniture pieces. It is formulated to provide a durable, attractive finish that can withstand the wear and tear associated with daily use. Furniture paint often includes properties that make it suitable for various types of furniture, including wood, metal, and laminate surfaces.
Sizing and Forecast
The furniture paint market size has grown strongly in recent years. It will grow from $9.66 billion in 2023 to $10.20 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to shifts in consumer preferences towards eco-friendly, changes in interior design and color trends, implementation of stricter environmental regulations and safety standards, expansion of furniture manufacturing and retailing across borders, and growth of the do-it-yourself culture.
The furniture paint market size is expected to see strong growth in the next few years. It will grow to $12.83 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to consumer preference for customization, rapid urbanization, increasing construction activities, a rise in renovation and remodeling projects, and the proliferation of e-commerce channels. Major trends in the forecast period include water-based paints, advancements in nanotechnology and smart coatings, eco-friendly formulations, trends in interior design and home decor, and technological innovations.
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Segmentation & Regional Insights
The furniture paint market covered in this report is segmented –
1) By Type: Oil-Based, Water-Based, Other Types
2) By Product: Acid Curing Coatings, Nitrocellulose Coatings, Polyurethane Coating
3) By Application: Residential, Commercial, Industrial
Asia-Pacific was the largest region in the furniture paint market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the furniture paint market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growth in the real estate industry is expected to propel the furniture paint market going forward. Real estate refers to land, including any structures or natural resources, along with the rights associated with ownership or use. Real estate projects are increasing due to population growth, rapid urbanization, economic development, infrastructure investment, and changing consumer preferences. Furniture paint enhances property aesthetics, adding value and appeal to real estate listings and attracting potential buyers with refreshed interiors and modernized decor. For instance, in June 2023, according to the Northern Ireland Statistics and Research Agency, an Ireland-based public authority, from the first quarter of 2022 to the first quarter of 2023, the overall construction industry expanded by 6.5%, with the housing sector of construction increasing by 11.1% and the infrastructure subsector by 3.7%. Therefore, growth in the real estate industry is driving the growth of the furniture paint market.
Key Industry Players
Major companies operating in the furniture paint market are Sherwin-Williams Company, PPG Industries Inc., Akzo Nobel N.V., Nippon Paint Holdings Co. Ltd., RPM International Inc., Axalta Coating Systems Ltd., Asian Paints Limited, The Valspar Corporation, Kansai Paint Co. Ltd., Hempel A/S, Jotun A/S, Tikkurila Oyj, Behr Process Corporation, Berger Paints India Limited, Benjamin Moore & Co., Rust-Oleum Corporation, Dunn-Edwards Corporation, Crown Paints Limited, Farrow & Ball Limited, DuluxGroup Limited, HMG Paints Ltd., Morrells Woodfinishes Limited, J.W. Ostendorf GmbH & Co. KG, Liberon Limited, Sikkens Corporation, General Finishes LLC, Fine Paints of Europe Inc
The furniture paint market report table of contents includes:
1. Executive Summary
2. Furniture Paint Market Characteristics
3. Furniture Paint Market Trends And Strategies
4. Furniture Paint Market – Macro Economic Scenario
5. Global Furniture Paint Market Size and Growth
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31. Furniture Paint Market Other Major And Innovative Companies
32. Global Furniture Paint Market Competitive Benchmarking
33. Global Furniture Paint Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Furniture Paint Market
35. Furniture Paint Market Future Outlook and Potential Analysis
36.Appendix
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