Nitrocellulose Market to Witness Substantial Demand in Automotive Paints : By Key Players Hagedorn GmbH, Nitro Quimica, Nantong Tailida Chemical Corporation, IVM Chemical
Reports estimate that global nitrocellulose market size will be worth more than US$1.2 billion by 2025, with robust demand for high-quality automotive paints and leather products, particularly in developing regions.
Ocean View, DE -- (SBWIRE) -- 06/29/2020 -- Nitrocellulose, or cellulose nitrate, is one of the oldest and most widely-used thermoplastics today. It is a derivative of natural cellulose which finds use in a diverse set of applications ranging from automotive paints to wood coatings, printing inks, and leather finishes. Excellent chemical properties and its ability to offer a smooth finish and attractive aesthetic appearance make cellulose nitrate the material of choice in these applications, as well as countless other use-cases.
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Some of the major manufacturers and suppliers of the substance globally include DuPont Specialty Solutions, Hagedorn GmbH, Nitro Quimica, Nantong Tailida Chemical Corporation, IVM Chemicals, Nitrochemie AG, and Hubei Xuefei Chemicals, among many others. Reports estimate that global nitrocellulose market size will be worth more than US$1.2 billion by 2025, with robust demand for high-quality automotive paints and leather products, particularly in developing regions.
Growing preference for customized automotive paints
Globalization of the automotive marketplace, a changing and expanding customer base, and growing expectations for greater functionality and performance are likely to influence upcoming trends in color development for automotive paints. The future of vehicle paints looks promising, with growing customer inclination towards customized colors, and a solid demand for novel color solutions.
Nitrocellulose market, on account of its high nitrogen content, is prominently used in the production of automotive paint formulations. Its compatibility with repair and refinish formulations further increases its applicability in the Nitrocellulose Market. Today, consumers are opting for nano paints and other contemporary products.
Considering recent trends in automotive sales, especially passenger vehicles, Nitrocellulose Market manufacturers are bound to witness substantial opportunities from the automotive paints and coatings industry. Although a global outbreak of the novel coronavirus COVID-19 has slowed down auto production and sales, the future demand for vehicles has kept the Nitrocellulose Market hopeful of a revival.
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Consistent demand in wooden furniture coatings
With rapid growth in urbanization over the past several years, the demand for wooden furniture has surged rapidly across residential, commercial and education sectors. Governments in most countries have invested substantially in the construction of new school facilities to support the educational needs of a growing young population.
Cellulose nitrate is broadly used as a base material for various coatings due to its ability to accentuate wood grain, which makes it suitable for application on school furniture. In addition, nitrocellulose-based coatings are prominently used in residential and commercial applications to enhance the aesthetic appeal of office and home furniture.
Impact of COVID-19 outbreak in 2020
The ongoing coronavirus pandemic is impacting the global economy in numerous ways. The outbreak has directly affected production and demand by creating supply chain and market disruption. Most manufacturing industries, including automotive paints and leather industries have temporarily paused their production activities.
However, substantial demand for packaged goods, including packaged foods and beverages, during the pandemic will augment nitrocellulose market share in the future.