The furniture paint market size is expected to see strong growth in the next few years. It will grow to $12.83 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The forecast period's growth is expected to be fueled by consumer demand for customization, rapid urbanization trends, increased construction activities, a surge in renovation and remodeling projects, and the widespread adoption of e-commerce platforms. Key trends anticipated in the forecast period encompass the rise of water-based paints, advancements in nanotechnology and smart coatings, the development of eco-friendly formulations, evolving trends in interior design and home decor, and ongoing technological innovations within the furniture paint industry.
The expansion in the real estate industry is poised to propel the future growth of the furniture paint market. Real estate encompasses land, structures, natural resources, and associated ownership or usage rights. The surge in real estate projects is fueled by population growth, rapid urbanization, economic advancement, infrastructure investment, and evolving consumer preferences. Furniture paint plays a pivotal role in enhancing property aesthetics, elevating value, and attracting potential buyers by revitalizing interiors and modernizing decor. For example, data from the Northern Ireland Statistics and Research Agency in June 2023 indicated a 6.5% expansion in the overall construction industry from the first quarter of 2022 to the first quarter of 2023. Specifically, the housing sector saw an 11.1% increase, while the infrastructure subsector rose by 3.7%. Consequently, the growth in the real estate industry propels the advancement of the furniture paint market.
Key players in the furniture paint market are focusing on developing innovative products, such as spray paints, to gain a competitive edge. Spray paint involves the application of paint via an aerosol canister, ensuring even coverage and smooth finishes on various furniture surfaces. For instance, in April 2022, PPG Industries Inc., a US-based paint manufacturing company, introduced 'GLIDDEN MAX FLEX' spray paint, an innovative combination of spray paint and primer featuring a lacquer-based formula and distinct spray pattern. This groundbreaking product delivers high-coverage, ultra-durable coatings on diverse surfaces, enabling DIY enthusiasts to achieve flawless finishes with a quick five-minute dry time.
In January 2021, StanChem Polymers, a US-based company specializing in high-performance emulsion polymers, acquired Dux Paint LLC for an undisclosed sum. This strategic acquisition aims to leverage StanChem Polymers' expertise in protective coatings to enhance product offerings and brand recognition. By expanding capabilities and serving customers with challenging applications, the acquisition accelerates growth in key markets and applications. Dux Paint LLC, based in the US, produces VOC-compliant liquid industrial coatings, safeguarding various metal, wood, and plastic substrates.
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.
Asia-Pacific was the largest region in the furniture paint market in 2023. 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. The countries covered in the furniture paint market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Furniture paint is a specialized coating specifically crafted for application on furniture pieces. It is formulated to deliver a resilient and aesthetically pleasing finish capable of withstanding the daily wear and tear associated with regular use. Furniture paint often incorporates properties that render it suitable for diverse types of furniture materials, including wood, metal, and laminate surfaces.
The primary types of furniture paint include oil-based, water-based, and other formulations. Oil-based paint utilizes oil as its base, imparting a durable and glossy finish to furniture pieces. Various products within this category include acid-curing coatings, nitrocellulose coatings, and polyurethane coatings, catering to applications in residential, commercial, and industrial settings.
The furniture paint market research report is one of a series of new reports that provides furniture paint market statistics, including the furniture paint industry global market size, regional shares, competitors with furniture paint market share, detailed furniture paint market segments, market trends, and opportunities, and any further data you may need to thrive in the furniture paint industry. This furniture paint market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The furniture paint market consists of sales of chalk paint, oil-based paint, spray paint, latex, or acrylic paint. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
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Table of Contents
Executive Summary
Furniture Paint Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on furniture paint market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for furniture paint? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The furniture paint market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Type: Oil-Based; Water-Based; Other Types2) By Product: Acid Curing Coatings; Nitrocellulose Coatings; Polyurethane Coating
3) By Application: Residential; Commercial; Industrial
Key Companies Mentioned: Sherwin-Williams Company; PPG Industries Inc.; Akzo Nobel N.V.; Nippon Paint Holdings Co. Ltd.; RPM International Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- 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
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | July 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 10.2 Billion |
Forecasted Market Value ( USD | $ 12.83 Billion |
Compound Annual Growth Rate | 5.9% |
Regions Covered | Global |
No. of Companies Mentioned | 27 |