Press release
Major Force in the Furniture Lacquer Market 2025: Growing Construction And Home Renovations Boost Demand For Furniture Lacquer
Furniture Lacquer Market Driver
The furniture lacquer market is expected to grow from $10.25 billion in 2024 to $10.94 billion in 2025, at a CAGR of 6.7%. This growth is driven by the rising demand for furniture, growing preference for wooden furniture, the DIY furniture trend, and the expansion of the furniture industry.
The furniture lacquer market is expected to grow to $14.07 billion by 2029 at a CAGR of 6.5%. Growth is driven by the global furniture market, environmental sustainability awareness, e-commerce, and customization. Major trends include water-based lacquers, digital printing, and hybrid finishes.
What Key Elements Are Boosting Growth in the Furniture Lacquer Market?
The rise in the construction of new homes and home renovations is expected to propel the growth of the furniture lacquer market. Furniture lacquer is used to provide an intense gloss finish to new furniture and restore the glossiness of old furniture. For instance, in March 2022, according to residential construction statistics released by the United States Census Bureau, privately owned housing starts in the United States reached 1,769,000 in February 2022, up from 1,447,000 in February 2021, showing an increase of 22.3%. Therefore, the rise in the construction of new homes and home renovations is driving the growth of the furniture lacquer market.
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Who Are the Major Industry Players Fueling Furniture Lacquer Market Expansion?
Major companies operating in the furniture lacquer market are BASF SE, The Sherwin-Williams Company, PPG Industries Inc., Akzo Nobel N.V., Nippon Paint Holdings Co Ltd., RPM International Inc., Axalta Coating Systems Ltd., The Valspar Corporation, Kansai Paint Co Ltd., Hempel A/S, Jotun Paints Inc., Comex Group, Berger Paints Ltd., Rust-Oleum Corporation, Chugoku Marine Paint Ltd., Minwax Company, Carpoly Chemical Group Co Ltd., Cloverdale Paint Inc., Chugoku Marine Paints Ltd., Adler Lack AG, Maydos Chemicals Co Ltd., Pacific Paint (Boysen) Philippines Inc., Tamiya Incorporated, Morrells Woodfinishes Ltd., Intercoat Paints Ltd., Pure & Original Paint.
Which Key Developments Are Influencing the Furniture Lacquer Market?
Leading companies in the furniture lacquer market are developing innovative, durable lacquer products. Durable lacquer offers long-lasting protection against wear, moisture, and environmental factors. For example, in March 2022, Bona, a Sweden-based flooring manufacturer, launched Bona Traffic HD Raw, a durable lacquer designed for wood floors. It provides an ultra-matte finish resembling untreated wood, offering protection against scuffing, wear, and chemicals while ensuring a natural appearance.
How Is the Segmentation of the Furniture Lacquer Market Defined?
The furniture lacquer market covered in this report is segmented -
1) By Type: Solvent Based, Water Based
2) By Finish: Gloss, Matte, Satin Or Semi-Gloss
3) By Application: Wood Furniture, Metal Furniture
4) By Distribution Channel: Online, Offline
Subsegments:
1) By Solvent Based: Nitrocellulose Lacquer, Acrylic Lacquer, Polyurethane Lacquer, Other Solvent-Based Lacquers
2) By Water Based: Acrylic Water-Based Lacquer, Polyurethane Water-Based Lacquer, Other Water-Based Lacquers
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What Is the Leading Region in the Furniture Lacquer Market?
Asia-Pacific was the largest region in the furniture lacquer market in 2024. The regions covered in furniture lacquer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Is Covered In The Furniture Lacquer Global Market Report?
- Market Size Analysis: Analyze the Furniture Lacquer Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Furniture Lacquer Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Furniture Lacquer Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Furniture Lacquer Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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