Cellulose Paints Market - Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027

  • To Be Published : Aug 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

The global cellulose paints market size is expected to witness a substantial rise in the near future, and register a significant CAGR over the forecast period (2019 - 2027).

Market Overview

Cellulose paint mixture is composed of certain ingredients, materials and fillers, such as short oil alkyd resin which is added as a binder, bentonite, talc, and calcite as fillers, pigment powder for colour, acetone, solvent derivatives, and isobutyl acetate among others. Cellulose paints are typically sold as colourless primers that do not contain pigment. However, pigment adds colour to the paint and can be used to effectively hide anything beneath the coating. The binder is another important ingredient after pigment which ensures that the latter actually sticks to the substrate. Moreover, the binder adds durability and strength to cellulose paints, and determines the flexibility and hardness that the coating will take upon drying. The other ingredients such as solvent, dispenser, and carrier can be added to thin the paint which usually has a paste like consistency before solvents are added to it. Lastly, a range of additives can be added to the paint to heighten its characteristics.

Market Dynamics

Cellulose paint has a wide range of applications ranging from professional to handy jobs. Cellulose paints are most commonly used for painting car panels, window frames, picture frames, doors, storefronts, and building frames among others. There is a high demand for cellulose paints in applications that require shorter drying time. The paint contains thinners that begin evaporating immediately after application in what is called ‘air drying’. However, unlike acrylic paints or enamel paints which require around 2 coats to achieve an efficient finish, cellulose paints require approximately 4 to 5 coats to achieve a proper finish. The growth of the cellulose paints market is driven by demand from the automotive and construction industries. Moreover, growing presence of key manufacturers such as AkzoNobel, BASF SE, and Eastman Chemical Company, is expected to support the market growth during the forecast period. Increasing demand for products containing non-toxic, low volatile organic compounds is projected to propel demand for cellulose paints among end user industries. The rapidly expanding automotive, industrial, and construction sectors around the world is another factor that is expected to facilitate growth of the global cellulose paints market. Furthermore, focus on product innovation to compete better with alternative products is projected to propel growth of the market in the near future. However, availability of cheaper, and more sustainable alternatives is expected to restrain demand for cellulose paints over the forecast period.

Market Outlook

The global cellulose paints market is segmented into North America, Europe, Asia Pacific, and Latin America. Asia Pacific has dominated the cellulose paints market over the past few years, and the trend is expected to continue over the forecast period, owing to increasing focus by key players such as BASF SE on expanding their presence to untapped markets in the region. Moreover, presence of emerging economies such as China and India is expected to propel demand for cellulose paints in the region. North America is expected to account for the second largest market share owing to growing demand for low VOC coatings, as well as increasing number of research and development activities in the region to meet the demand for non-toxic and environmentally sustainable products.

Key Players

Key players such as PPG Asian Paints, BASF SE, The Dow Chemical Company, AkzoNobel N.V., and Eastman Chemical Company are operating in the global cellulose paints market.

Research Methodology

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  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
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Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
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  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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