The latest market report published by Credence Research, Inc. “Global Cellulose Coatings Market: Growth, Future Prospects, and Competitive Analysis, 2015 – 2027”. The global market has acquired a market size of around USD 1.70 billion in 2020 and expected to reach a healthy CAGR of over 5.4% during the forecast period from 2021 to 2027 to reach around USD 2.33 billion in 2027.
Browse the full report at https://www.credenceresearch.com/report/cellulose-coatings-market
As opposed to traditional paints, cellulose paints can be described as plant-based coatings that can be coated in a variety of layers. These are a combination of more than one pigment that are momentary in nature, allowing them to be quickly removed when another coating is applied. The hiding ability and opacity of these paints are lower. They comprise non-ionic cellulose, which is used in water-based decorative paints as stabilizers, thickeners, and retention agents.
Key Trends in Global Market
Drivers that May Impact Market Growth
The demand for cellulose coatings is expected to rise as the demand for organic compound, low volatile, non-hazardous and renewable paints from several end-user industries rises. Market growth is fueled by expansions in the building and automotive industries. Other green substrates like powder coatings, suppress the development of the cellulose coatings industry.
However, cellulose coatings are usually flammable, dry quickly, and are poisonous, all of which limit market development. The new cellulose coatings business opportunities for growth include a focus on low VOC material, non-hazardous and product innovations.
Global Market by Product Type Insights
On the basis of Product Type, the global market can be divided into Cellulose Acetate Coatings and Nitrocellulose Coatings. In 2020, nitrocellulose coatings ruled the market as there is growing concerns about environmental degradation, the construction industry is seeing a surge in demand for bio-based and eco-friendly coatings, which presents massive opportunities for product demand. Manufacturers are working on cellulose nitrate-based solutions to provide superior finish wood coatings with high versatility and a soft touch.
Nitrocellulose Coatings Segment to Dominate the global market
Global Market by Application Insights
Global market is segmented based on Application as Furniture, Interior, Children Toys, Hospitals, and MDF Building Products. Furniture and internal doors dominated the industry. Wood coatings are used in a variety of residential, commercial, and industrial applications, including windows, doors, flooring, and cabinet furniture. In order to achieve high performance properties for architectural coatings, advances in coating production have encouraged the use of alternatives to waterborne solutions. Furthermore, there is a growing trend toward formulations that include low-fat options. All these factors contributed in market growth of furniture and internal doors.
Global Market by Regional Insights
Over the last few years, Asia Pacific has dominated the cellulose paints market, and this trend is expected to continue over the forecast period, thanks to key players such as BASF SE focusing more on expanding their presence in untapped markets in the region. Furthermore, the emergence of emerging economies like China and India is expected to boost cellulose paint demand in the area.
Due to the demand for low VOC coatings and an increase in research and development activities in the region to meet the demand for non-toxic and environmentally friendly goods, North America is projected to held second position in the market share.
Global Market Competitive Landscape
Some of the most prominent players operating in the global cellulose coatings market include AkzoNobel, KAPCI Coatings, Nippon, Carpoly, Daxiang, Goudey, Neosol, Mr Hobby, Dahua and Guangzhou Chemical.
Global Cellulose Coatings Market by Product Type, 2015 – 2027
· Nitrocellulose Coatings
· Cellulose Acetate Coatings
Global Cellulose Coatings Market by Application, 2015 – 2027
· Internal Doors
· Children Toys
· MDF Building Products
Global Cellulose Coatings Market by Region, 2015 – 2027
· North America
· Asia Pacific
· Latin America
· Middle East and Africa
Global Cellulose Coatings Market: Key Players
· KAPCI Coatings
· Mr Hobby