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Furniture Lacquer Market Size Forecast: $13.79 Billion by 2029 | Global Outlook
Furniture Lacquer Market
What Is the Projected Market Size Valuation of the Furniture Lacquer Market by 2025?
The scale of the furniture lacquer market has noticeably increased in the past few years. It's projected to expand from $10.25 billion in 2024 to $10.79 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 5.3%. The upswing during the historic period is likely due to factors such as increased demand for furniture, a growing fondness for wooden furniture, rising interest in DIY furniture, the growth of the furniture industry overall, and the burgeoning trend of purchasing furniture online.
What Is the Estimated Market Growth Value for the Furniture Lacquer Industry in 2029?
The size of the furniture lacquer market is forecasted to experience substantial growth in the upcoming years. It is projected to reach $13.79 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 6.3%. This growth during the forecast period is likely due to factors such as the global expansion in the furniture sector, an enhanced understanding of environmental sustainability, the rise of e-commerce, and an increasing trend towards customization and personalization. Key trends during this forecast period are expected to include water-based lacquers, digital printing on lacquer, and hybrid finishes.
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What Are the Growth Drivers and Opportunities in the Furniture Lacquer Market?
The furniture lacquer market is predicted to expand, largely driven by the surge in the development of new homes and remodeling projects. New homes are entirely fresh structures that have never had occupants. Meanwhile, home remodeling infuses a new ambiance into a pre-existing space without changing its initial configuration. Furniture lacquer is a crucial element in both new houses and refurbishments, as it offers an unmatched, high-gloss finish to novel furniture and rejuvenates the shine in older pieces. For example, fresh residential construction data from the US Census Bureau, a primarily US agency, reveal that in February 2022, there were 1,769,000 private housing starts, up 22.3% from 1,447,000 in February 2021. Consequently, the burgeoning trend of new house construction and home renovations is powering the surge in the furniture lacquer market.
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What Are the Primary Segments Covered in the Global Furniture Lacquer Market Report?
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
What Are the Top Growth Trends in the Furniture Lacquer Market?
Leading businesses in the furniture lacquer industry are prioritizing the creation of innovative solutions, such as resilient lacquers. These lacquers are protective coatings designed to withstand wear, moisture, and external conditions for an extended period. Bona, a Swedish company specializing in flooring products, exemplified this shift in March 2022 when it debuted Bona Traffic HD Raw. This offering is designed to align with current trends and satisfy the requirements of those seeking a super-matte finish that emulates untreated wood but with enhanced durability. The overarching aim is to create a robust lacquer that presents a natural appearance while safeguarding wooden floors from wear, scuffs, and chemical damage.
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Which Companies Are Shaping the Future of the Furniture Lacquer Market?
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 Region Holds the Largest Market Share in the Furniture Lacquer Industry?
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.
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