The Business Research Company’s Furniture Lacquer Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Furniture Lacquer Global Market Report 2023 evaluates furniture lacquer market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global furniture lacquer market is expected to grow from the furniture lacquer market size has grown strongly in recent years. It will grow from $9.57 billion in 2023 to $10.25 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to rising demand for furniture, growing preference for wooden furniture, growing popularity of diy furniture, expansion of the furniture industry, growing popularity of online furniture sales.The furniture lacquer market size is expected to see strong growth in the next few years. It will grow to $13.12 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%.
The rise in the construction of new homes and home renovations is expected to propel the growth of the furniture lacquer market. New homes are buildings that are entirely new and have never been occupied. Home renovation brings a fresh look to a space while maintaining its original layout. Furniture lacquer is used in new homes and home renovations to provide an intense gloss finish to the new furniture and restore the glossiness of the old furniture. For instance, in March 2022, according to recent residential construction statistics released by the United States Census Bureau, a US-based principal agency, the privately-owned housing starts in the United States reached 1,769,000 in February 2022, up from 1,447,000 in February 2021, showing an increase of 22.3%. Further, in June 2022, RubyHome, a US-based luxury real estate brokerage, the US home remodeling revenue increased by 9% from $337.0 billion in 2020 to $369.0 billion in 2021 and in 2021 remodeling activity increased by 55%. Therefore, the rise in the construction of new homes and home renovations drive the growth of the furniture lacquer market.
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The furniture lacquer market segments in the report are:
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
The table of contents in TBRC’s furniture lacquer market report includes:
- Executive Summary
- Furniture Lacquer Market Characteristics
- Furniture Lacquer Market Trends And Strategies
- Furniture Lacquer Market – Macro Economic Scenario
- Global Furniture Lacquer Market Size and Growth
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- Global Furniture Lacquer Market Competitive Benchmarking
- Global Furniture Lacquer Market Competitive Dashboard
- Key Mergers And Acquisitions In The Furniture Lacquer Market
- Furniture Lacquer Market Future Outlook and Potential Analysis
- Appendix
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