Yes, any wood left out in the open will eventually fade to a silver grey. You can however slow down the process by finishing the wood. The finishing process should be done once a year in harsh climates ( north east, Midwest ) and less frequently in mild climates ( Arizona ).
Woods can be finished with oil, varnish, polyurethane and others. I like the polyurethane for pieces that will be outdoors. I like oil for teak furniture. Painted furniture will eventually peel and start to crack within 3-7 years depending on the climate.
If you really don’t want to maintain your wood patio furniture, buy a set of recycled plastic furniture. This material maintenance free and the products now will not fade. If you are ok with the color and texture, this is the way to go.
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