Global Furniture Coatings Market: Overview
Furniture coatings are protective coatings that provide high gloss and long-lasting finish. Furniture coatings are used on table and chairs, bed frames, armoires, bath vanity, cupboards, kitchen furniture, and office furniture. These coatings protect furniture from changes in temperature, exposure to chemicals, liquids, dirt-build up, and scratches. Coatings applied over the furniture possess properties such as quick drying, sanding & stackability, chemical and mechanical resistance, and superior tannin blocking. Polyurethane and poly-acrylic based coatings are commonly employed to protect furniture. Key properties of these coatings include resistance to climate change, corrosion, abrasion, and chemicals. The choice of binder has significant impact on furniture coatings. Furniture coatings exposed to high moisture areas are formulated to withstand high moisture level in order to maintain substrate adhesion. They also possess high scrubbing and stain resistance.
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Global Furniture Coatings Market: Drivers
Demand for furniture coatings is primarily driven by the rise in demand for these coatings in the residential sector and renovation activities across the globe. Increase in demand for sustainable products in interior applications and growth in demand for low odor and higher durability coatings are boosting the demand for furniture coatings with low VOC emissions. Rise in number of new housing constructions is anticipated to boost the furniture coatings market. Demand for furniture coatings is high in Asia Pacific owing to the high population, urban development, and new construction projects.
In terms of resin, the global furniture coatings market can be segmented into polyurethane, acrylic, alkyd, and vinyl/styrene. Different resin coatings are applied depending upon applications. Easy curability and quick drying are the key reasons why polyurethane is preferred. In terms of technology, the global furniture coatings market can be classified into water-based, solvent-based, and powder-based technologies. Water-based technology is anticipated to offer immense growth opportunities in the next few years. Water-based technology is more environmentally-friendly compared to the solvent-based technology, as it helps lower the emission of volatile organic compounds. Demand for powder-based technology is also rising owing to the zero emission of volatile organic compounds. Based on application, the furniture coatings market can be divided into residential and commercial. Furniture coatings are used in table and chairs, bed frames, armoires, bath vanity, cupboards, and kitchen furniture under the residential segment.
The global furniture coatings market expanded moderately in 2017. This trend is expected to continue during the forecast period. Rapid urbanization is fuelling the furniture coatings market across the globe. Asia Pacific accounts for the largest and the fastest growing market. Increase in construction and renovation activities in Asia Pacific is driving the furniture coatings market. Availability of key resins such as polyurethane and acrylic is anticipated to significant boost the furniture coatings market, especially in China and India .North America, especially the U.S., is a major region of the global furniture coatings market owing to the increase in renovation activities in the region. Germany and countries in Eastern Europe contribute significantly to the furniture coatings market. The market in Middle East & Africa and Latin America is estimated to expand in the near future due to the recent economic developments and growth in investments in construction projects.
Global Furniture Coatings Market: Key Players
Key manufacturers of furniture coatings include Akzo Nobel N.V, The Sherwin-Williams Company, PPG Industries, Inc, and RPM International Inc.
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