About Furniture Lacquer
Lacquers are clear or colored coatings that provide a glossy finish to furniture and fixture surfaces. They are available with many different sheen levels, ranging from high gloss to ultra-matte. It offers extremely hard finishes, and is highly resistant to damage, particularly from acid, alkali, water, and abrasions. It is dispersed in a solvent, which evaporates quickly by curing process leaving a hard, durable finish on the furniture. Solvent-based lacquer such as nitrocellulose lacquer cures slow, which makes the finishing process, touch-up, or repair easier and more controllable. It is produced from the nitration of cotton and other cellulosic materials, which produce high shine, providing a hard, flexible, and durable finish. Acrylic lacquer provides enhanced adhesion to metals and has a high resistance to UV rays and water.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
AkzoNobel (Netherlands), Hempel (Denmark), Nippon Paint (Japan), PPG Industries, Kansai Paints (Japan), The Sherwin-Williams Company, BASF (Germany), Axalta Coating Systems, Diamond Paints (India) and RPM International (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Furniture Lacquer market by Type (Solvent Based [Nitrocellulose Lacquers, Acrylic Lacquers] and Water-Based), Application (Wood Furniture and Metal Furniture) and Region.
On the basis of geography, the market of Furniture Lacquer has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Sales Channel, the sub-segment i.e. Online Sales Channel will boost the Furniture Lacquer market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The rise in preference for eco-friendly, nontoxic products and an increase in environmental awareness among consumers have supplemented the demand for water-based furniture lacquer
Market Growth Drivers:
The rise in disposable income and change in lifestyle patterns in emerging countries, such as China, India, Brazil, the Middle East, and Africa, have fueled the demand for building renovation & remodeling
Challenges:
The environmental policies due to the presence of volatile organic compounds (VOCs)
Restraints:
The stringent government regulations
Opportunities:
The growth in population in these countries and High adoption of Acrylic Lacquers
Market Leaders and their expansionary development strategies
In October 2022, The Sherwin-Williams Company acquired Industria Chimica Adriatica S.p.A. (ICA), an Italian designer, manufacturer and distributor of industrial wood coatings used for kitchen cabinets, furniture and décor, building products, flooring and other specialty applications.
In March 2022, Bona launched a highly durable lacquer for an ultra-matte wood experience. A new addition to the Bona Traffic family of lacquers is Bona Traffic HD Raw—an ultra-matte, highly durable and protective lacquer to create an aesthetically pleasing, ‘untreated’ wood experience that meets contemporary trends and floor owners’ needs.
Key Target Audience
Manufacturer, Suppliers, Distributors, Government Regulatory Bodies, Government Research Organization, Private Research Organization and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.