Furniture Wood Coatings Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Furniture Wood Coatings Market Analysis
The increasing demand for wood coatings from all over the world propels the growth in the furniture industry is the primary driver for the growth of the furniture wood coatings market.
- The replacement of housing market worldwide is also driving the growth of the market.
- The top vendors introducing the natural wood coatings is driving the demand for this market. New entrants that offer innovative and green solutions are growing in the market.
- In the furniture industry, interiors of homes, offices, and flats are changing continuously. This is driving innovation and development, primarily in terms of designs, size, and colors, which is expected to increase the production volume of furniture across the world.
- Furniture wood coatings are extensively used. Thus, the increasing production volume of furniture across the world is augmenting the growth of the market studied.
- Moreover, with the rapidly growing service sector, a huge proportion of the population has been relocating to new locations, which is driving the trend of hostels, co-living, guest houses, and official premises. This is expected to increase the demand for various furniture products.
Furniture Wood Coatings Market Trends
This section covers the major market trends shaping the Furniture Wood Coatings Market according to our research experts:
Solvent-borne Coatings Segment is the Largest Segment
The solvent-borne coatings are available at economical prices when compared with other technologies, which is driving the segment’s growth. Solvent borne coatings are used primarily as protective layers in liquid form, which are applied to the surface of a material for corrosion prevention. They comprise of organic compounds, and as a result of the curing property of solvent-borne coatings, they exhibit more toughness than waterborne coatings, thereby proving to be a preferred choice as a corrosion control solution. Solvent-borne coatings also possess a relative advantage over waterborne coatings owing to the fact that they bring effective results when applied even in humid environments, where the latter does not cure effectively.
Considering the vital advantages and applications of solvent-borne coatings pertaining to harsh environmental conditions, the study of the solvent-borne coatings market becomes an important read.
Asia-Pacific is Expected to Witness the Highest Growth
The growing urbanization and rising purchasing power of consumers in the region, especially from China and India, are expected to drive the growth of the market in the region. China has the largest furniture sector across the world, which is thriving, owing to the increasing domestic and foreign demand. In India, both the furniture and construction sectors have been witnessing major growth in the recent times. Some of the key factors that are boosting this growth include the increasing investment in the residential and commercial sector and government initiatives. The entry of major furniture companies is also expected to boost the furniture industry growth. Additionally, there has been a major growth in the public and private investments in the construction sectors of ASEAN countries, in the recent times. These factors are likely to help the Asia-Pacific region to dominate the market, during the forecast period.
Furniture Wood Coatings Industry Overview
The report covers major international players operating in the Furniture Wood Coatings Market. The market is dominated by players such as Akzo Nobel, BASF, The Sherwin-Williams Company, The Dow Chemical Company and PPG Industries and others. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.
Furniture Wood Coatings Market Leaders
Akzo Nobel N.V.
BASF
Sherwin-Williams Company
Dow Chemical Company
PPG Industries, Inc. i
*Disclaimer: Major Players sorted in no particular order
Furniture Wood Coatings Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Key Deliverables of the Study
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Overview
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4.2 Drivers
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4.3 Restraints
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4.4 Trends Shaping the Furniture Wood Coatings Market
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4.5 Porter's Five Forces Analysis
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4.6 Industry Value Chain Analysis
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4.7 Regulatory Framework
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4.8 Technological Innovations
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5. MARKET SEGMENTATION
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5.1 By Product
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5.1.1 Solvent-borne Coatings
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5.1.2 Water-borne Coatings
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5.1.3 Radiation-cured Coatings
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5.1.4 Powder coating Coatings
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5.2 By End User
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5.2.1 Residential
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5.2.2 Commercial
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5.3 Geography
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5.3.1 North America
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5.3.2 Europe
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5.3.3 Asia-Pacific
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5.3.4 South America
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5.3.5 Middle East and Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
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6.1.1 Akzo Nobel
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6.1.2 BASF
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6.1.3 The Sherwin-Williams Company
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6.1.4 The Dow Chemical Company
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6.1.5 PPG Industries
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6.1.6 Benjamin Moore & Co.
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6.1.7 Diamond Vogel
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6.1.8 Royal DSM
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6.1.9 Drywood Coatings
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6.1.10 Helios Group
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6.1.11 IVM Chemicals
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6.1.12 Jotun
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6.1.13 KAPCI Coatings
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6.1.14 Rust-Oleum*
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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8. APPENDIX
Furniture Wood Coatings Industry Segmentation
A complete background analysis of the Furniture Wood Coatings Market, which includes an assessment of the parental market, emerging trends by segments and regional markets, Significant changes in market dynamics and market overview is covered in the report. The report also features the qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
| By Product | |
| Solvent-borne Coatings | |
| Water-borne Coatings | |
| Radiation-cured Coatings | |
| Powder coating Coatings |
| By End User | |
| Residential | |
| Commercial |
| Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| South America | |
| Middle East and Africa |
Furniture Wood Coatings Market Research FAQs
What is the current Furniture Wood Coatings Market size?
The Furniture Wood Coatings Market is projected to register a CAGR of 6% during the forecast period (2024-2029)
Who are the key players in Furniture Wood Coatings Market?
Akzo Nobel N.V., BASF, Sherwin-Williams Company, Dow Chemical Company and PPG Industries, Inc. i are the major companies operating in the Furniture Wood Coatings Market.
Which is the fastest growing region in Furniture Wood Coatings Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Furniture Wood Coatings Market?
In 2024, the North America accounts for the largest market share in Furniture Wood Coatings Market.
What years does this Furniture Wood Coatings Market cover?
The report covers the Furniture Wood Coatings Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Furniture Wood Coatings Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Furniture Wood Coatings Industry Report
Statistics for the 2024 Furniture Wood Coatings market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Furniture Wood Coatings analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
