Furniture Lacquer Market By Type (Solvent Based, Water Based), By Application (Wood Furniture, Metal Furniture): Global Opportunity Analysis and Industry Forecast, 2023-2032
The global furniture lacquer market was valued at $10.1 billion in 2022 and is projected to reach $17.4 billion by 2032, expanding at a CAGR of 5.7% from 2023 to 2032.
Wood lacquer is a coating or finish applied to wooden surfaces to enhance their appearance, protect the wood, and provide a smooth, glossy finish. Lacquer is a clear or pigmented liquid that dries quickly to form a hard and durable layer on the wood. It is widely used in the furniture industry and for various wood applications. Furthermore, metal furniture lacquer is a type of coating or finish applied to metal surfaces to enhance their appearance, protect against corrosion, and provide a durable and attractive finish. The lacquer creates a protective layer that helps preserve the metal, preventing it from tarnishing, rusting, or deteriorating due to exposure to environmental elements. Clear lacquer for metal furniture provides a transparent protective coating without altering the natural color of the metal. It is commonly used to protect the metal while allowing its original appearance to show through.
Colored lacquers allow for customization of the appearance of the metal, providing options for different colors and finishes. This enhances the aesthetics of metal furniture to match various design preferences. Some metal furniture lacquers come with specialized finishes, such as matte, satin, or high-gloss options, allowing for further customization of the final look.
Furthermore, the increased demand for building renovation and remodeling activities can indeed contribute to the expansion of the global furniture lacquer market. There is a parallel demand for new and updated furniture as more individuals and businesses invest in renovating and remodeling their homes or commercial spaces. Furniture lacquer, with its ability to provide a fresh and polished finish, becomes an attractive choice for those looking to enhance the appearance of existing furniture or incorporate new pieces into renovated spaces. Renovation projects often focus on improving the overall aesthetics of a space. Furniture lacquer offers a glossy and smooth finish that can significantly contribute to the visual appeal of furniture. This is particularly important when trying to achieve a modern or updated look in a renovated space. These factors are expected to drive the market growth during the projection period.
The furniture lacquer market is segmented into type, application, and region. Based on type, the market is bifurcated into solvent-based and water-based. Based on application, the market is bifurcated into wood furniture and metal furniture. On the basis of region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the industry include Akzo Nobel N.V., PPG Industries, Inc., Nippon Paint Holdings Co., Ltd., The Sherwin-Williams Company, Diamond Paints, Minwax, Rust-Oleum, Morrells Woodfinishes Ltd, M.L. Campbell, and Axalta Coating Systems. These players have adopted product launches as their key strategy to increase their market shares.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the furniture lacquer market analysis from 2022 to 2032 to identify the prevailing furniture lacquer market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
An in-depth analysis of the furniture lacquer market segmentation assists in determining the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global furniture lacquer market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy TypeSolvent Based
Water Based
By ApplicationWood Furniture
Metal Furniture
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
Italy
Spain
UK
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa,
Saudi Arabia
Rest of LAMEA
Key Market PlayersAkzo Nobel N.V.
PPG Industries, Inc.
Nippon Paint Holdings Co., Ltd.
The Sherwin-Williams Company
Diamond Paints
Minwax
Rust-Oleum
Morrells Woodfinishes Ltd
MLCAMPBELL
Axalta Coating Systems
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