Global Furniture Paint Market Report 2024

The furniture paint market size has grown strongly in recent years. It will grow from $9.66 billion in 2023 to $10.2 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The historical period's growth can be attributed to various factors such as the shift in consumer preferences towards eco-friendly options, changes in interior design and color trends, the enforcement of stricter environmental regulations and safety standards, the expansion of furniture manufacturing and retailing globally, and the rise of the do-it-yourself culture.

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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