Cellulose Paints Market: Analysis of Growth Opportunities and Future Trends with a CAGR of 4.2% by 2023

Global Industry Analysis

The global cellulose paints market is projected to grow at a CAGR of 4.2% from 2015 to 2023, reaching a market value of USD 927.8 million by 2023. Cellulose paints are known for their excellent adhesion and quick-drying properties, making them a popular choice in the automotive and construction industries.

The automobile industry is one of the key end-users of cellulose paints. These paints are used to provide a high-gloss finish to automobiles and protect them from weathering and corrosion. The rising demand for automobiles across the globe is driving the growth of the cellulose paints market.

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The process of making these paints, known as etherification, involves reacting cellulose with different substituents, such as ethyl, methyl, and hydroxyethyl or hydrophobic groups. This reaction makes Bermocoll naturally water soluble. Cellulose paints are thought of as active agents with polymeric surfaces that have the capacity to help with pigment dispersion by improving flow during grinding.

Cellulose paints are manufactured in a broad range of viscosities which enable consumers to choose the specific viscosity required for the application of the paint. In order to avoid the lump formation during addition of water to cellulose paints, manufacturers treat all the paint grades with a controlled amount of glyoxal.

The global market for cellulose paints has been witnessing a significant increase on account of growth from its well established end user industries such as automotive, construction and industrial. Significant investments from certain large scale companies such as BASF SE, AkzoNobel, and Eastman Chemical Company among others to expand in quite a few countries of Asia-Pacific and Latin America have been witnessed. Demand for green coatings in these regions have still been in the development and are anticipated to have a huge potential in the near future.

Moreover, focus on R&D activities for developing low VOC coatings industry coupled with product innovation has also contributed to the growth of the market. Asia Pacific currently dominates the global market for cellulose paints, with emerging economies such as China and India dominating the region.

It was followed by North America where demand for these paints has been witnessing a noticeable increase with the presence of the large automotive industry in the region. Future market growth is expected to be from Asia Pacific as well owing to several new renovation and construction projects in South Asia, specifically in China thereby boosting the demand for cellulose paints.

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Growing demand for non-hazardous, low VOC green paints from various end-user industries are expected to boost the demand for cellulose paints over the next few years. In addition, growth of the automotive and construction industry has also been the current growth factors for cellulose paints.

However, increasing use of other better performing green substrates such as powder coatings is expected to hamper the growth of the cellulose paints market. Focus on product innovations to manufacture non hazardous paints with low VOC content is expected to provide new opportunities for the growth of the market.

AkzoNobel N.V., BASF SE, Eastman Chemical Company, PPG Asian Paints, and The Dow Chemical Company are some of the key players present in the cellulose paints industry.

This report covers a thorough analysis of:

• Market segment
• Market dynamics
• Market size
• Supply demand
• Current Trends/Issues/Challenges
• Competition and related companies
• Technology
• Value chain

Regional analysis includes:

• North America (USA, Canada)
• Latin America (Mexico, Brazil)
• Western Europe (Germany, Italy, France, UK, Spain)
• Eastern Europe (Poland, Russia)
• Asia Pacific (China, India, ASEAN, Australia and New Zealand)
• Japan
• Middle East and Africa (GCC countries, South Africa, North Africa)

Report highlights:

• Detailed overview of the top markets
• Changing market dynamics of the industry
• In-depth market segmentation
• Historical, current and projected market size in terms of volume and value
• Recent industry trends and developments
• competitive landscape
• Strategies of major players and products provided
• Potential and niche segments, areas showing promising growth
• A neutral view of market performance
• Essential information for market participants to maintain and strengthen their market footprint

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