Global Furniture Lacquer Market Size study, by Type (Solvent Based, Water Based), by Application (Wood Furniture, Metal Furniture) and Regional Forecasts 2022-2032

Description

The Global Furniture Lacquer Market was valued at approximately USD 10.68 billion in 2023 and is expected to grow at a robust CAGR of 5.7% from 2024 to 2032. Furniture lacquer is a vital finish applied to wooden and metal furniture to enhance its appearance and protect the surface. This clear or colored coating dries to a hard and durable finish, providing a smooth and glossy surface that guards against scratches, moisture, and general wear and tear. The demand for furniture lacquer is driven by its ability to offer a high-gloss, durable finish that enhances the natural beauty of wood while providing essential protection. Various types of lacquer, including nitrocellulose, acrylic, and catalyzed lacquer, cater to different needs. Nitrocellulose lacquer is known for its quick-drying properties and traditional use in vintage furniture, while acrylic lacquer is water-based and more environmentally friendly. Catalyzed lacquer, containing a catalyst for accelerated curing, results in a harder, more durable finish.

Globalization and the rise of e-commerce have made it easier for consumers to access a variety of furniture options. The visual appeal of lacquer-finished furniture attracts buyers, contributing to market growth. Additionally, the demand for building renovation and remodeling activities further propels the furniture lacquer market. Renovation projects focus on improving aesthetics, and furniture lacquer offers a fresh and polished finish, making it an attractive choice for enhancing existing furniture or incorporating new pieces into renovated spaces. The increasing focus on sustainable and eco-friendly products is also driving the market towards water-based lacquers, which are considered more environmentally friendly compared to solvent-based alternatives. Advancements in material technologies and manufacturing processes play a crucial role in expanding the application areas of furniture lacquer, contributing to market growth. However, the cost associated with manufacturing and implementing these materials can be a significant restraint, limiting widespread adoption in cost-sensitive industries.

Key regions considered in the Global Furniture Lacquer Market study include North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The Asia-Pacific region is the leading region in the furniture lacquer market. This dominance is primarily due to the region's robust furniture manufacturing industry, particularly in countries such as China, India, and Vietnam. These countries are major exporters of furniture to global markets, benefiting from their cost-effective production capabilities and abundant raw materials. Additionally, the rising disposable income and urbanization in the region have spurred domestic demand for high-quality furniture, further driving the need for furniture lacquers. The presence of a large number of manufacturers and the increasing focus on innovative and eco-friendly lacquer products also contribute to Asia-Pacific's leading position in the furniture lacquer market. On the other hand, North America is projected to grow at a fastest rate during the projected period 2024-2032.

Major market players included in this report are:

Minwax
The Sherwin-Williams Company
Morrells Woodfinishes Ltd
M.L. Campbell
Axalta Coating Systems
Akzo Nobel N.V.
Rust-Oleum
Nippon Paint Holdings Co., Ltd.
Diamond Paints
PPG Industries, Inc.
Tikkurila Oyj
Berger Paints India Limited
Asian Paints Limited
RPM International Inc.
DAIKIN Industries, Ltd.

The detailed segments and sub-segment of the market are explained below:

By Type:

Solvent Based
Water Based

By Application:

Wood Furniture
Metal Furniture

By Region:

North America
U.S.
Canada
Europe
Germany
France
Italy
Spain
UK
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Australia
Rest of Asia-Pacific
Latin America
Brazil
Mexico
Rest of Latin America

Middle East and Africa:

South Africa
Saudi Arabia
Rest of Middle East and Africa

Years considered for the study are as follows:

Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

Chapter 1. Global Furniture Lacquer Market Executive Summary

1.1. Global Furniture Lacquer Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Type
- 1.3.2. By Application
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Furniture Lacquer Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Furniture Lacquer Market Dynamics

3.1. Market Drivers
- 3.1.1. Demand for High-Gloss and Durable Finishes
- 3.1.2. Increased Renovation and Remodeling Activities
- 3.1.3. Growth of E-commerce and Globalization
3.2. Market Challenges
- 3.2.1. High Manufacturing Costs
- 3.2.2. Limited Adoption in Cost-Sensitive Industries
3.3. Market Opportunities
- 3.3.1. Advancements in Material Technologies
- 3.3.2. Increased Focus on Sustainable and Eco-Friendly Products

Chapter 4. Global Furniture Lacquer Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top investment opportunity
4.4. Top winning strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Furniture Lacquer Market Size & Forecasts by Type 2022-2032

5.1. Segment Dashboard
5.2. Global Furniture Lacquer Market: Type Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 5.2.1. Solvent Based
- 5.2.2. Water Based

Chapter 6. Global Furniture Lacquer Market Size & Forecasts by Application 2022-2032

6.1. Segment Dashboard
6.2. Global Furniture Lacquer Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 6.2.1. Wood Furniture
- 6.2.2. Metal Furniture

Chapter 7. Global Furniture Lacquer Market Size & Forecasts by Region 2022-2032

7.1. North America Furniture Lacquer Market
- 7.1.1. U.S. Furniture Lacquer Market
  - 7.1.1.1. Type breakdown size & forecasts, 2022-2032
  - 7.1.1.2. Application breakdown size & forecasts, 2022-2032
- 7.1.2. Canada Furniture Lacquer Market
  - 7.1.2.1. Type breakdown size & forecasts, 2022-2032
  - 7.1.2.2. Application breakdown size & forecasts, 2022-2032
- 7.1.3. Mexico Furniture Lacquer Market
  - 7.1.3.1. Type breakdown size & forecasts, 2022-2032
  - 7.1.3.2. Application breakdown size & forecasts, 2022-2032
7.2. Europe Furniture Lacquer Market
- 7.2.1. Germany Furniture Lacquer Market
- 7.2.2. U.K. Furniture Lacquer Market
- 7.2.3. France Furniture Lacquer Market
- 7.2.4. Spain Furniture Lacquer Market
- 7.2.5. Italy Furniture Lacquer Market
- 7.2.6. Rest of Europe Furniture Lacquer Market
7.3. Asia-Pacific Furniture Lacquer Market
- 7.3.1. China Furniture Lacquer Market
- 7.3.2. India Furniture Lacquer Market
- 7.3.3. Japan Furniture Lacquer Market
- 7.3.4. Australia Furniture Lacquer Market
- 7.3.5. South Korea Furniture Lacquer Market
- 7.3.6. Rest of Asia Pacific Furniture Lacquer Market
7.4. Latin America Furniture Lacquer Market
- 7.4.1. Brazil Furniture Lacquer Market
- 7.4.2. South Africa Furniture Lacquer Market
- 7.4.3. Saudi Arabia Furniture Lacquer Market
- 7.4.4. Rest of Latin America Furniture Lacquer Market
7.5. Middle East & Africa Furniture Lacquer Market
- 7.5.1. GCC Furniture Lacquer Market
- 7.5.2. South Africa Furniture Lacquer Market
- 7.5.3. North Africa Furniture Lacquer Market
- 7.5.4. Rest of Middle East & Africa Furniture Lacquer Market

Chapter 8. Competitive Intelligence

8.1. Key Company SWOT Analysis
8.2. Top Market Strategies
8.3. Company Profiles
- 8.3.1. Minwax
  - 8.3.1.1. Key Information
  - 8.3.1.2. Overview
  - 8.3.1.3. Financial (Subject to Data Availability)
  - 8.3.1.4. Product Summary
  - 8.3.1.5. Market Strategies
- 8.3.2. The Sherwin-Williams Company
- 8.3.3. Morrells Woodfinishes Ltd
- 8.3.4. M.L. Campbell
- 8.3.5. Axalta Coating Systems
- 8.3.6. Akzo Nobel N.V.
- 8.3.7. Rust-Oleum
- 8.3.8. Nippon Paint Holdings Co., Ltd.
- 8.3.9. Diamond Paints
- 8.3.10. PPG Industries, Inc.
- 8.3.11. Tikkurila Oyj
- 8.3.12. Berger Paints India Limited
- 8.3.13. Asian Paints Limited
- 8.3.14. RPM International Inc.
- 8.3.15. DAIKIN Industries, Ltd.

Chapter 9. Research Process

9.1. Research Process
- 9.1.1. Data Mining
- 9.1.2. Analysis
- 9.1.3. Market Estimation
- 9.1.4. Validation
- 9.1.5. Publishing
9.2. Research Attributes