Furniture Paint Industry to Achieve $12.99 Billion Growth by 2029

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How Will the Furniture Paint Market Grow by 2025 in Terms of Size and Growth?
In recent times, the furniture paint market has experienced a consistent growth. Predictions show it will escalate from $10.2 billion in 2024 to $10.68 billion in 2025 with a 4.7% compound annual growth rate (CAGR). This past growth can be traced back to several factors such as the tilt in consumer taste towards environmentally friendly alternatives, evolving trends in interior design and color, the execution of tighter environmental laws and safety standards, the broadening of furniture manufacturing and retail trade globally, and the burgeoning do-it-yourself (DIY) culture.

What Are the Estimated Growth Rates for the Furniture Paint Industry Through 2029?
The market size for furniture paint is predicted to witness substantial growth in the forthcoming years, reaching $12.99 billion in 2029 with a compound annual growth rate (CAGR) of 5.0%. This growth during the forecast period can be credited to factors such as consumer inclination for personalization, surge in urbanization, an escalation in construction activities, increasing prevalence of home renovation and remodeling ventures, and the expansion of online shopping platforms. Key trends during the forecast period comprise of the rise of water-based paints, progression in nanotechnology and smart coatings, ecologically friendly formulas, trends in interior home design and decoration, and technological advancements in the industry.

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What Are the Strategic Drivers Boosting Furniture Paint Market Performance?
The anticipated boom in the real estate sector is likely to stimulate the furniture paint market's growth. When referring to real estate, it means land inclusive of any buildings or natural features, as well as the rights associated with ownership or usage. Factors such as population increase, rapid urbanization, economic progress, infrastructure investments, and evolving consumer tastes are resulting in a surge in real estate projects. Furniture paint not only improves the appearance of a property but elevates its value and appeal, drawing potential buyers with updated interiors and trendy decor. For instance, the Northern Ireland Statistics and Research Agency, a public authority in Ireland, reported in June 2023 that there was a 6.5% expansion in the overall construction industry from the first quarter of 2022 to the first quarter of 2023, wherein the housing construction sector grew by 11.1% and the infrastructure division by 3.7%. Therefore, the furniture paint market's escalation is attributable to the growth in the real estate industry.

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What Are the Segments in the Furniture Paint Market?
The furniture paint market covered in this report is segmented -

1) By Type: Oil-Based, Water-Based, Other Types
2) By Product: Acid Curing Coatings, Nitrocellulose Coatings, Polyurethane Coating
3) By Application: Residential, Commercial, Industrial

Subsegments:
1) By Oil-Based Furniture Paint: Gloss Oil-Based Paints, Satin Oil-Based Paints, Matte Oil-Based Paints
2) By Water-Based Furniture Paint: Acrylic Water-Based Paints, Latex Water-Based Paints, Enamel Water-Based Paints
3) By Other Types: Chalk Paint, Milk Paint, Spray Paints, Epoxy-Based Paints

What Are the Key Adoption Trends in the Furniture Paint Market?
Concentrating on innovation is key for major businesses in the furniture paint market, particularly in the production of items like spray paints, as it gives them a competitive advantage. Spray paint, which is delivered in an aerosol canister, allows for even paint distribution and a flawless finish on different furniture surfaces. One such recent innovation is the 'GLIDDEN MAX FLEX' spray paint by PPG Industries Inc., a US paint manufacturer. Introduced in April 2022, this ground-breaking product combines spray paint and primer, has a unique lacquer-based composition and a distinctive spray pattern. It offers superior coverage and extreme resistance on all types of surfaces. Due to its speedy five-minute drying period, DIY (Do it yourself) enthusiasts can easily attain a perfect finish that retains the painted object's original look.

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Which Companies Lead the Competitive Landscape of the Furniture Paint Industry?
Major companies operating in the furniture paint market are Sherwin-Williams Company, PPG Industries Inc., Akzo Nobel N.V., Nippon Paint Holdings Co. Ltd., RPM International Inc., Axalta Coating Systems Ltd., Asian Paints Limited, The Valspar Corporation, Kansai Paint Co. Ltd., Hempel A/S, Jotun A/S, Tikkurila Oyj, Behr Process Corporation, Berger Paints India Limited, Benjamin Moore & Co., Rust-Oleum Corporation, Dunn-Edwards Corporation, Crown Paints Limited, Farrow & Ball Limited, DuluxGroup Limited, HMG Paints Ltd., Morrells Woodfinishes Limited, J.W. Ostendorf GmbH & Co. KG, Liberon Limited, Sikkens Corporation, General Finishes LLC, Fine Paints of Europe Inc

Where Are the Key Furniture Paint Market Opportunities by Region?
Asia-Pacific was the largest region in the furniture paint market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the furniture paint market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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This release was published on openPR.