Furniture Coatings Market: Global Opportunity Analysis and Industry Forecast, 2021-2031 Market

Furniture Coatings Market Analysis 2020-2027

Furniture coatings are protective coatings that provide high gloss and long-lasting finish. These coatings protect furniture from exposure to chemicals, liquids, changes in temperature, dirt-build up, and scratches. Furniture coatings are used on bed frames, armoires, table and chairs, kitchen furniture, bath vanity, cupboards, and office furniture. Coatings applied on the furniture have properties such as superior tannin blocking, quick drying, chemical and mechanical resistance, and sanding & stack ability.

Polyurethane and poly-acrylic based coatings are usually used to protect furniture. Main properties of these coatings are resistance to climate change, corrosion, abrasion, and chemicals.

COVID-19 Impact

• The global market for furniture coatings is severely impacted by the outbreak of the COVID-19 pandemic. 
• The COVID-19 pandemic saw a decline in the economic growth in almost all the major countries, thus affecting consumer spending patterns. 
• Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply–demand gap.
• Thus, insufficiency in raw material supply is expected to hamper the production rate of furniture coatings, which negatively impact the market growth.

Top impacting factors: Market Scenario Analysis, Trends and Drivers 

Furniture coating market is primarily driven by the rise in demand for these coatings in the residential sector and renovation activities across the globe. Plus, increase in the number of new housing construction is predicted to boost the furniture coatings market.

Demand for furniture coatings is high in Asia-Pacific owing to the high population, urban development, and increase in new construction projects. Moreover, growing demand for sustainable products in interior applications and increase in demand for low odor and higher durability coatings are driving the demand for furniture coatings with low VOC emissions.

In terms of technology, the global furniture coatings market can be classified into water-based, solvent-based, and powder-based technologies. In the next few years, water-based technology is predicted to offer huge growth opportunities, since it more environment friendly than the solvent-based technology, as it helps lower the emission of volatile organic compounds. Demand for powder-based technology is also
increasing due to the zero emission of volatile organic compounds. 

However, unpredictable raw material prices hampers the furniture coatings market growth and factors such as strict environmental rules imposed by the government & other regulatory bodies on the use of volatile organic compounds (VOC) is also anticipated to hinder the furniture coatings market in the forecasted period. 

Regional Analysis

The global furniture coatings market is studied across major four regional markets including North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is expected to be the largest market over the coming years in response to the increasing use of furniture coatings, due to its unique properties such as enduring surface finish, solvent & scratch resistance, resilience to UV light damage, resistance to general wear & tear, quick drying, superior sanding, and multi-coat & smooth finish. In addition to this, growing urbanization and rise in population is further expected to complement the growth of this region. 

Key benefits of the report:

• This study presents the analytical depiction of the global furniture coating market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global furniture coating market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global Furniture Coating market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed global furniture coating market analysis based on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the Furniture Coating research report:

• Who are the leading market players active in the furniture coating market?
• What would be the detailed impact of COVID-19 on the market?
• What current trends would influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the furniture coating market?
• What are the projections for the future that would help in taking further strategic steps?

 Furniture Coatings Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights