Authored By: Sarah
23 Aug 2021

Furniture Wood Coatings Market | Leading Segments, Trends, Drivers and Challenges
Market Segments and Growth Analysis 2021-2025

The furniture wood coatings market is expected to grow by $ 1.66 bn, accelerating at a CAGR of almost 5.88% during the forecast period. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus.


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Furniture Wood Coatings Market: Leading Segments and Growth Analysis

This research report will provide insights into the current market share of each segment along with growth projections for the next five years.

  • The report segments the market by Technology (Solvent-borne, Water-borne, Radiation-cured, and Powder coating) and Geography (APAC, Europe, North America, South America, and MEA). Each market segment is analyzed for past performance leading to future growth projections based on current market scenario.
  • In terms of geographic segmentation we found that 44% of the market growth will originate from APAC during the forecast period. This report provides an accurate prediction of the contribution of all the geographic segments to the growth of the Furniture Wood Coatings Market size.

Furniture Wood Coatings Market Size to Grow by $ 1.66 bn through 2021-2025 | Leading Segments and Market Trends

Furniture Wood Coatings Market: Top Trends, Drivers, Challenges to drive Market Recovery

The research report looks at the impact of various trends, drivers, and challenges for market growth during the forecast period. These insights will enable clients to design a growth strategy for their business and area of operations.

  • A significant factor in driving the growth of the Furniture Wood Coatings Market will be the increased demand for application on medium-density fiber products.
  • Expeditious growth in wooden furniture market in APAC will be instrumental in driving the market growth during the forecast period.
  • Increasing concern about wood logging is a hurdle that needs to be crossed on the path to success.

Furniture Wood Coatings Market: Vendor Analysis

  • The market is fragmented.
  • The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
  • Akzo Nobel NV, Arkema SA, Ashland Global Holdings Inc., Asian Paints Ltd., Axalta Coating Systems Ltd., BASF SE, Jotun AS, PPG Industries Inc., RPM International Inc., and The Sherwin-Williams Co. are some of the major market participants.

For more insights into this market: Download a Free Sample Report. Our custom reports provide market insights at the global and regional level along with pipeline analysis of new product launches. It also provides a peek into the latest R&D along with an impact analysis of government regulations.

The report provides insights into the following FAQs:

  1. What is the market CAGR?
    The market is accelerate at a CAGR of over 5.88%.

     
  2. What is the incremental growth of the market?
    The market is expected to grow by $ 1.66 bn through 2021-2025.

     
  3. What is a key factor driving this market?
    Increased demand for application on medium-density fiber products will drive market growth over the forecast period.

     
  4. What are the key regions covered in this market research report?
    APAC, Europe, North America, South America, and MEA are the key regions featured in this research report.

     
  5. Which is the leading geographic region for this market:
    44% growth will originate from APAC

     
  6. Who are the leading market vendors?
    The leading vendors in this market are Akzo Nobel NV, Arkema SA, Ashland Global Holdings Inc., Asian Paints Ltd., Axalta Coating Systems Ltd., BASF SE, Jotun AS, PPG Industries Inc., RPM International Inc., and The Sherwin-Williams Co.

     
  7. What are the market segments covered in this report?
    The market is segmented by Technology (Solvent-borne, Water-borne, Radiation-cured, and Powder coating) and Geography (APAC, Europe, North America, South America, and MEA)

Furniture Wood Coatings Market Size to Grow by $ 1.80 bn through 2020-2024

The furniture wood coatings market is expected to grow by $ 1.80 bn, accelerating at a CAGR of almost 5% during the forecast period. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus. View Free Sample Report

Furniture Wood Coatings Market: Segmentation by Technology

This report provides a detailed analysis of the market by Technology (Solvent-borne, Water-borne, Radiation-cured, and Powder coating) and Geography (APAC, Europe, North America, South America, and MEA). This research report will provide insights into the current market share of each segment along with growth projections for the next five years. In addition, the report also offers a detailed impact analysis of various trends, drivers, and challenges which are likely to influence market growth during the forecast period. These insights are expected to equip clients with reliable information based upon which they can design a growth strategy for their business and area of operations.

Furniture Wood Coatings Market Size to Grow by $ 1.66 bn through 2021-2025 | Leading Segments and Market Trends

Furniture Wood Coatings Market: Vendor Analysis

The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Akzo Nobel NV, Arkema SA, Ashland Global Holdings Inc., Asian Paints Ltd., Axalta Coating Systems Ltd., BASF SE, Jotun AS, PPG Industries Inc., RPM International Inc., and The Sherwin-Williams Co. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

For more insights into this market: Download a Free Sample Report. Our custom reports provide market insights at the global and regional level along with a pipeline analysis of new product launches. It also provides a peek into the latest R&D along with an impact analysis of government regulations.

 Technavio has been monitoring the global furniture wood coatings market and it is expected to grow by USD 1.80 billion accelerating at a CAGR of over 5% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. Download latest version with COVID-19 analysis Free Sample Report

Furniture Wood Coatings Market Size to Grow by $ 1.66 bn through 2021-2025 | Leading Segments and Market Trends

Furniture Wood Coatings Market: Segmentation by Technology

During 2019, the solvent borne coatings segment accounted for the major share of the Furniture Wood Coatings Market. The exceptional and superior performance of solvent-borne furniture wood coatings, including resistance to UV rays, prevention of yellowing of wooden products, increased gloss, and resistivity to moisture, has increased their use in coating wooden surfaces such as claddings, garden furniture, log houses, decking, terraces, and window panes. Solvent-borne coatings have the major advantage of resistance to harsh environmental conditions, such as high temperatures and humidity, when compared with other types of furniture wood coatings. Hence, solvent-borne coatings are expected to dominate the market during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the furniture wood coatings market size.

There is a considerable increase in the demand for wooden furniture, especially from countries in APAC. The growing consumer demand for hardwood and softwood furniture as a result of rapid industrialization in the region will fuel market growth. Additionally, the growing space constraints are driving consumers to opt for multipurpose, compact, and portable furniture which will further drive the demand for modern wooden furniture in the region, which in turn, will fuel the demand for wood coatings,.

Furniture Wood Coatings Market: Vendor Analysis

The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Akzo Nobel NV, Arkema SA and Ashland Global Holdings Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio offers custom research reports with detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will help clients keep up with new product launches in direct & indirect COVID-19 related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19 Download a Free Sample Report 

 

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