Cellulose Paints Market By Type (Primer, Topcoat, Others) , By End use (Automotive, Construction, Furniture, Others) : Global Opportunity Analysis and Industry Forecast, 2024-2033
The cellulose paints market was valued at $9.2 billion in 2023, and is projected to reach $16.8 billion by 2033, growing at a CAGR of 6.2% from 2024 to 2033.
Cellulose paints are fast-drying, high-gloss coatings originally derived from cellulose, a natural polymer found in plant cell walls. Commonly used in automotive, furniture, and industrial applications, cellulose paints are known for their ability to dry quickly and form a hard, durable surface. The paint typically comprises cellulose nitrate or cellulose acetate as a base, which provides an excellent binding quality, alongside pigments and other additives that enhance durability and aesthetic appeal.
The growth of the global cellulose paints market is driven by surge in construction projects globally, particularly in urban areas. In addition, increase in trend of home renovation and remodeling, especially in developed markets, are pushing the demand for high-quality and aesthetically pleasing hardware options. This is attributed to the fact that high gloss, smooth finish, and the ability to enhance wood aesthetics of cellulose paints make them suitable for furniture and cabinetry. According to a 2024 study published by the University of South Alabama, approximately $463 billion were spent on renovations by homeowners in the first quarter of 2024. 42% of homeowners hired a construction professional to renovate their homes, thus reflecting the rapid adoption of cellulose paints. In addition, increase in demand for cellulose paints from automotive and industrial sectors notably contributes toward the growth of the market. This is attributed to the fact that quick-drying and durable properties of cellulose paints make them ideal for automotive refinishing and industrial coatings. Moreover, implementation of stringent government regulations pertaining to the emission of volatile organic compounds from conventional paints has shifted the consumer preference toward eco-friendly cellulose paints, which have minimal environmental restrictions. However, availability of synthetic and acrylic paints, which offer superior durability and better UV resistance restrains the growth of the cellulose paints market. In addition, cellulose nitrate-based paints are highly flammable, which can pose significant safety risks in industrial applications, thus hampering the market growth. On the contrary, innovations in paint chemistry such as improved UV stability, scratch resistance, and moisture resistance, are making them more suitable for outdoor and high-exposure applications. Such developments are expected to offer remunerative opportunities for the expansion of the global market during the forecast period.
The global cellulose paints market is segmented into type, end use, and region. By type, the market is classified into primer, topcoat, and others. On the basis of end use, it is classified into automotive, construction, furniture, and others. Region wise, the cellulose paints market share is studied across North America, Europe, Asia-Pacific, and LAMEA.?
Key FindingsBy type, the topcoat segment held the highest market share in 2023.On the basis of end use, the automotive segment was the major shareholder in 2023.
Region wise, Asia-Pacific emerged as the most lucrative market for cellulose paints in 2023.
Competition AnalysisCompetitive analysis and profiles of the major players in the global cellulose paints market include PPG Industries, Inc., Akzo Nobel N.V., Eastman Chemical Company, RPM International Inc., Nippon Paint Holdings Co., Ltd., Jawel Paints, The Dow Chemical, BASF SE, The Sherwin-Williams Company, and Macc Paints Ltd. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to sustain the intense competition and gain a strong foothold in the global market.
Key Market SegmentsBy TypePrimer
Topcoat
Others
By End UseAutomotive
Construction
Furniture
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
Rest of LAMEA
Key Market PlayersPPG Industries, Inc.
Akzo Nobel N.V.
Eastman Chemical Company
RPM International Inc.
Nippon Paint Holdings Co., Ltd.
Jawel Paints
The Dow Chemical
BASF SE
The Sherwin-Williams Company
Macc Paints Ltd.