The North America Nitrocellulose Market would witness market growth of 4.65% CAGR during the forecast period (2019-2025). Nitrocellulose is also a popular ingredient in the production of Wood Finishes. Nitrocellulose based lacquers experience high demand in wood finish applications, especially for a high quality. The property to rapidly dry, exhibit an outstanding polishing properties and thereby enrich the grain’s appearance in wide varieties of wood. The lacquers are best suited for light duty applications, however, could be adjusted to perform fine in major applications with the addition of other plasticisers or resins.
The demand for luxury furniture in the domestic and commercial segment has been unprecedented. Substantial growth in the per capita income is the prime reason behind the unprecedented growth in the luxury furniture market. The rapidly growing urban population is adding to the demand for luxury furniture thereby fuelling the wooden coating application of Nitrocellulose. Furniture made up of glass material is gaining province over other kinds of materials, due to their elegance and eye catching designs.
Urbanization has been another major trend of the century. Rapidly growing urban regions around the world has had a huge impact on the world market. Increasing number of nuclear families, especially in developing countries paired with increasing urbanization has driven the need for luxury furniture. Rapid urbanization would be another major factor that would drive the market for luxury furniture.
The USA market dominated the North America Nitrocellulose Market by Country in 2018, and would continue to be a dominant market till 2025; thereby, growing at a CAGR of 4.2 % during the forecast period. The Canada market is expected to witness a CAGR of 5% during (2019 - 2025).
The report highlights the adoption of Nitrocellulose in North America. Based on Application, the market is segmented into Printing Inks, Wood Coatings, Automotive Paints, Leather Finishes, Nail Varnishes and Other Applications. The report also covers geographical segmentation of Nitrocellulose market. The countries included in the report are USA, Canada, Mexico and Rest of North America.
The major market players expanding their reach in the North America Nitrocellulose market are The Dow Chemical Company, Eastman Chemical Company, Nippon Paints Holdings Co. Ltd., PPG Industries, Inc., Arkema S.A., Akzo Nobel N.V, RPM International, Inc., Sherwin Williams Company, Ashland Global Holdings. Inc, BASF SE.
Market Segmentation:
By Application
By Country
Companies Profiled
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