The furniture paint global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Furniture Paint Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The furniture paint market size has grown strongly in recent years. It will grow from $9.66 billion in 2023 to $10.20 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to shifts in consumer preferences towards eco-friendly, changes in interior design and color trends, implementation of stricter environmental regulations and safety standards, expansion of furniture manufacturing and retailing across borders, and growth 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 growth in the forecast period can be attributed to consumer preference for customization, rapid urbanization, increasing construction activities, a rise in renovation and remodeling projects, and the proliferation of e-commerce channels. Major trends in the forecast period include water-based paints, advancements in nanotechnology and smart coatings, eco-friendly formulations, trends in interior design and home decor, and technological innovations.
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Scope Of Furniture Paint Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Furniture Paint Market Overview
Market Drivers –
The growth in the real estate industry is expected to propel the furniture paint market going forward. Real estate refers to land, including any structures or natural resources, along with the rights associated with ownership or use. Real estate projects are increasing due to population growth, rapid urbanization, economic development, infrastructure investment, and changing consumer preferences. Furniture paint enhances property aesthetics, adding value and appeal to real estate listings and attracting potential buyers with refreshed interiors and modernized decor. For instance, in June 2023, according to the Northern Ireland Statistics and Research Agency, an Ireland-based public authority, from the first quarter of 2022 to the first quarter of 2023, the overall construction industry expanded by 6.5%, with the housing sector of construction increasing by 11.1% and the infrastructure subsector by 3.7%. Therefore, growth in the real estate industry is driving the growth of the furniture paint market.
Market Trends –
Major companies operating in the furniture paint market focus on developing innovative products, such as spray paints, to gain a competitive edge. Spray paint involves applying paint using an aerosol canister, allowing for even coverage and smooth finishes on various surfaces of furniture pieces. For instance, in April 2022, PPG Industries Inc., a US-based paint manufacturing company, launched ‘GLIDDEN MAX FLEX’ spray paint, a groundbreaking combination of spray paint and primer featuring an innovative lacquer-based formula and distinctive spray pattern. This innovative product delivers a high-coverage, ultra-durable coating on various surfaces. With a quick five-minute dry time (Do it yourself) DIY enthusiasts can achieve a flawless finish that maintains the original appearance of the painted item.
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
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Regional Insights –
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.
Key Companies –
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
Table of Contents
1. Executive Summary
2. Furniture Paint Market Characteristics
3. Furniture Paint Market Trends And Strategies
4. Furniture Paint Market – Macro Economic Scenario
5. Global Furniture Paint Market Size and Growth
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32. Global Furniture Paint Market Competitive Benchmarking
33. Global Furniture Paint Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Furniture Paint Market
35. Furniture Paint Market Future Outlook and Potential Analysis
36. Appendix
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