Global Furniture Lacquer Market Size By Type (Solvent Based, Water Based) , By Application (Wood Furniture, Metal Furniture) , By Geographic Scope And Forecast
Report ID: 311734|No. of Pages: 202
Global Furniture Lacquer Market Size By Type (Solvent Based, Water Based) , By Application (Wood Furniture, Metal Furniture) , By Geographic Scope And Forecast
Furniture Lacquer Market Size And Forecast
Furniture Lacquer Market size was valued at USD 9452 Million in 2022 and is projected to reach USD 14,932 Million by 2030, growing at a CAGR of 6.5% from 2023 to 2030.
The demand for building renovation and remodeling, which drives the expansion of the global Furniture Lacquer Market. The Global Furniture Lacquer Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
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Global Furniture Lacquer Market Definition
Lacquers are clear or colored coatings that give furniture and fixture surfaces a glossy finish. They are accessible with various sheen levels, going from reflexive to super matte. It has finishes that are very hard and can withstand a lot of damage, especially from acids, alkalis, water, and abrasions.
It is spread out in a solvent that quickly evaporates during the curing process, leaving the furniture with a hard, long-lasting finish. Nitrocellulose lacquer, a solvent-based lacquer, cures slowly, making the finishing, touch-up, or repair process simpler and more manageable. It is made by nitrifying cotton and other cellulosic materials, which results in a high shine and a finish that is hard, flexible, and long-lasting. Acrylic polish gives improved attachment to metals, and has high protection from UV beam and water.
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Global Furniture Lacquer Market Overview
Acrylic lacquer has a significantly faster drying time than nitrocellulose lacquer. Water-based lacquers have emerged as a result of an increase in health- and environmental-related dangers. It is frequently used to finish wood furniture, but it has the same problems with combustibility as solvent-based lacquers.
The demand for building renovation and remodeling, which drives the expansion of the global Furniture Lacquer Market, has been fueled by an increase in disposable income and a shift in lifestyle patterns in emerging nations like China, India, Brazil, the Middle East, and Africa. In addition, it is anticipated that the demand for housing and commercial infrastructure will rise as the population of these nations grows.
The demand for furniture lacquer that is water-based has increased in addition to the rise in consumer preference for eco-friendly and nontoxic products. In any case, dissolvable-based furniture finish is seeing a slump, inferable from rigid unofficial laws and natural strategies because of the presence of unstable natural mixtures (VOCs).
Global Furniture Lacquer Market Segmentation Analysis
The Global Furniture Lacquer Market is Segmented on the Basis of Type, Application, And Geography.
Furniture Lacquer Market, By Type
- Solvent Based
- Water Based
Based on Type , the market is segmented into Solvent Based and Water Based.
Furniture Lacquer Market, By Application
- Wood Furniture
- Metal Furniture
Based on Application, the market is segmented into Wood Furniture, and Metal Furniture.
Furniture Lacquer Market, By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Rest of the world
On the basis of Geography, the Global Furniture Lacquer Market is classified into North America, Europe, Asia Pacific, Latin America, Rest of the world.
Key Players
The “Global Furniture Lacquer Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are AkzoNobel N.V., Hempel A/S, Nippon Paint Co. Ltd., PPG Industries, Kansai Paints Co. Ltd., The Sherwin-Williams Company, BASF SE, Axalta Coating Systems, Diamond Paints, RPM International Inc.
Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.
Key Developments
- Sherwin Williams made the announcement in August 2021 that it would be purchasing Sika’s European industrial coatings business. A German company has opened a manufacturing facility in Vaihingen with the intention of expanding its capabilities in the European market for specialty goods.
- In June 2021, Akzo Nobel made the acquisition of Orbis, a paints and coatings company based in Colombia. The company intends to strengthen its position throughout South and Central America through this transaction. Due to its grow and deliver strategy, the company has been involved in significant acquisitions.
Ace Matrix Analysis
The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.
Market Attractiveness
The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Furniture Lacquer Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.
Porter’s Five Forces
The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. The porter’s five forces model can be used to assess the competitive landscape in Global Furniture Lacquer Market, gauge the attractiveness of a certain sector, and assess investment possibilities.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2019-2030 |
| BASE YEAR | 2022 |
| FORECAST PERIOD | 2023-2030 |
| HISTORICAL PERIOD | 2019-2021 |
| UNIT | Value (USD Million) |
| KEY COMPANIES PROFILED | AkzoNobel N.V., Hempel A/S, Nippon Paint Co. Ltd., PPG Industries, Kansai Paints Co. Ltd., The Sherwin-Williams Company, BASF SE, Axalta Coating Systems, Diamond Paints, RPM International Inc. |
| SEGMENTS COVERED |
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| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
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Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
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Econometrics and data visualization model
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The aims of doing primary research are:
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Industry Analysis Matrix
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