Automotive paint sector to fuel nitrocellulose market growth

7:28 AM, 19th January 2021
Rising inclination towards nano paints is anticipated to accelerate product significance. Additionally, the trending demand for custom automotive paints & coating may boost nitrocellulose market expansion in the passenger vehicle segment.

In the automotive paint sector, the nitrocellulose market is expected to garner lucrative growth given to the product’s remarkable compatibility with refinish & repair formulations. Rising inclination towards nano paints is anticipated to accelerate product significance. Additionally, the trending demand for custom automotive paints and coating may boost nitrocellulose market expansion in the passenger vehicle segment.

The packaging & labelling industry is expected to register high-rise demand for nitrocellulose compounds. Increasing consumption of packaged goods & food items have accelerated the demand for printing inks in the labelling applications. Rapid growth in the e-commerce sector along with increasing urbanization have bolstered the requirement for high-quality inks.

Notable features like heat & smudge resistance and quick drying time have encouraged manufacturers to utilize nitrocellulose to develop sustainable printing inks. Moreover, expediating demand for detailed maps and high-quality posters & prints is anticipated to foster nitrocellulose market growth in the long run.

Nitrocellulose finds extensive application in leather furnishing items. It pertains the ability to impart natural texture and pleasant luster to leather products. Rising demand for premium leather goods such as shoes, jackets, wallets, and bags along with escalating trend towards luxury shopping would shape the growth trajectory of nitrocellulose market.

In an attempt to capitalize on this promising industry, numerous companies have started to adopt strategies like acquisitions, collaborations, mergers, and technological innovations in recent years. A few of the major firms operating in nitrocellulose market include DuPont Specialty Solutions, Nitro Quimica, Nitres Chemicals, Hagedorn GmbH, IVM Chemicals, Hebei Sanmu Cellulose, EURENCO, Nitrochemie AG, Fenchem Biotek and Nobel NC. Moreover, several firms are engaged in research activities to discover unique methods to manufacture new products that lower production cost.

The accelerating young population, presence of favorable government education reforms to support and develop the education sector coupled with infrastructural development of school facilities are some ideal scenarios propelling coatings consumption. According to Global Market Insights Inc, global nitrocellulose market size is projected to surpass $1.2 billion by 2025. Mentioned below are some factors responsible for market expansion.

Nitrocellulose is extensively utilized in manufacturing automobile paint formulation due to its compatibility with repair and refinish formulation, and its high nitrogen content. On account of the rising availability of a diverse range of vehicles at different price tags, which are a key aspect of the growing passenger car industry, there is a continuous need for automobile paints. Also, a preference for nano paints, growing demand for customized automobile colors and contemporary products, are some major factors driving nitrocellulose market trends.

The rising buying power of individuals, which has led to an increased preference towards packaged goods and products will further stimulate demand for printing inks in the applications of labeling and packaging. Urbanization, increasing literacy rate globally, and the growing trend of e-commerce have augmented demand for high-quality inks, which will add to the market growth for nitrocellulose paint suppliers.

Nitrocellulose market size by application (automotive paints, printing inks, leather finishes, wood coatings, nail varnish), industry outlook report, regional analysis, application potential, price trends, competitive market share & forecast, 2019 –2025 in detail at the link - https://www.gminsights.com/request-sample/detail/386

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Contact Info:

Arun Hegde
Corporate Sales, USA
Global Market Insights Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Website: https://www.gminsights.com

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