Press release
Sales Of Lacquers Is Projected To Grow At CAGR Of 6.0% Over The Next Decade
From 2022 to 2032, the market for lacquers is projected to grow at a CAGR of 5.2%, from USD 30,904 million in 2022 to USD 45,349 million in 2032.The demand for tough and long-lasting finishes will rise over the next ten years, especially in China and India. In addition, India and China are anticipated to consume more than the world average due to the region's growing urbanisation.
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Businesses may learn more about what is already on the market, what the market anticipates, the competitive landscape, and the strategies to use to outperform competitors thanks to Fact.credible MR's market research analyses and estimations. The large-scale Lacquer Market report is distinctive due to the carelessness kept in the research methodology and the use of best tools and procedures. As it covers a wider range of geographic markets, including North America, South America, and the Middle East & Africa, the regional outlook adds value to this study. This regional view will assist identify potential market share during the projected period and raise market investment based on opportunities in new markets for new goods.
Key Takeaways:
• Increasing sales of furniture and passenger cars in Asia Pacific region to generate high absolute dollar opportunity by 2032.
• The Europe Lacquer Market is to grow at a CAGR of nearly 6.0% over the next decade.
• By application, wood finish segment is expected to generate an absolute $ opportunity worth USD 6,000 Million.
• By end use, automotive industry is expected to grow at a CAGR of over 5.8%.
Growth Drivers:
• Use of lacquer in woodworking finishes is expected to drive the global demand for lacquer.
• Growing applications in in the automotive, furniture and architectural industries is projected to drive the lacquer market growth.
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Competitive Landscape
Fact.MR has provided in-depth insights about price points of leading manufacturers of lacquer positioned across regions, in addition to providing sales growth information, production capacity, and speculative production expansion in the latest published report.
• In August 2021, Sherwin Williams declared that it will acquire Sika's European industrial coatings business. With manufacturing facility at Vaihingen, Germany company aims at expansion of business capabilities for niche products in European market.
• Akzo Nobel in June 2021 declared acquisition of Colombia based paints and coatings company Orbis. With this deal company aims at expansion of its position in south and Central America. Organization can be seen involved in major acquisitions associated to its growth & deliver strategy.
Key players in the Lacquer Market include:
• Akzo Nobel
• Asian Paints.
• Axalta Coating
• BASF Coatings
• Berger Paints India
• Carpoly Chemical
• Chugoku Marine Paints
• Cloverdale Paint
• Diamond-Vogel Paint Company
• Hempel A/S
• Nippon Paint Holdings Co.
• PPG Industries, Inc.
• RPM International Inc.
• The Sherwin-Williams Co.
More Valuable Insights on Lacquer Market
Fact.MR provides an unbiased analysis of the lacquer market, presenting forecast statistics for the period from (2022-2032). The study divulges compelling insights on the global lacquer market with a detailed segmentation on the basis of:
• By Product Type
o Nitrocellulose Lacquers
o Pre-Catalyzed Lacquers
o Acid Catalyzed Lacquer
o Polyurethane Lacquers
o Radiation Curing-Lacquers
o Unsaturated Polyester Lacquers
o Other Product Types
• By Formulation Type
o Solvent Based
o Water Based
• By Application
o Wood
o Metal
o Plastics
o Leather and Textiles
o Others (paper, nail polish etc.)
• By Distribution Channel
o Modern Trade
o Departmental Store
o Online Retailers
o Specialty Stores
o Direct Sales
o Other Sales Channel
• By End Use Industry
o Automotive
o Architectural
o Furniture
o Cosmetics
o Other End Users
• By Region
o North America
o Latin America
o Europe
o East Asia
o South Asia & Oceania
o Middle East & Africa
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Key Questions Covered in Lacquer Market Report
• The report offers insight into the lacquer market demand outlook for 2022-2032.
• The market study also highlights projected sales growth for lacquer market between 2022 and 2032.
• Lacquer market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry.
• Lacquer market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.
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