Global Lacquer Demand to Reach 7 Million Tons in 2018, Steady Shift from Solvent-Based to Water-Based Lacquers Underway

Among the various types of lacquers available to end-users, demand for nitrocellulose continues to be the highest, on account of its competitive pricing and quick drying features.

Rockville, MD, June 05, 2018 (GLOBE NEWSWIRE) — Global demand for lacquers is likely to reach roughly 7 million tons in 2018, as applications in furniture, automotive, and architectural industries create sustained growth opportunities. The shift from solvent-based to water-based lacquers will become more palpable in the next decade, as a combination of environmental compliance and end-user consciousness induces changes in manufacturing and uptake. The long-term outlook on lacquer market remains bullish, with novel applications in cosmetics likely to complement demand, finds a new research study by Fact.MR.

Request For Sample Report- https://www.factmr.com/connectus/sample?flag=S&rep_id=799

The report finds that nitrocellulose lacquers will continue to be the highest selling products globally. Demand for nitrocellulose will be driven by a range of features, including but not limited to easy blending, competitive pricing, and quick drying. On account of these factors, nitrocellulose will maintain its lead as the preferred product type during the course of the forecast period, with polyurethane lacquers closing in on the second spot.

End-users continue to show a marked preference for solvent-based lacquers, owing to their performance advantages over water-based lacquers, however, concerns over VOC emissions, and stringency in regulations are driving the demand water-based lacquers. Solvent-based lacquers are likely to account for nearly 70% volume share throughout the assessment period, and grow at a higher rate vis-à-vis water-based variants. However, the lower growth doesn’t undermine the fact that interest in water-based solvents is gaining ground, as compliance advising costs and evolving preference fuel demand.

Specialty stores and modern trade are the prominent distribution channels in lacquer market. These two distribution channels accounting for over half of all lacquer sold in 2017. The report finds that these two distribution channels will continue to remain the preferred distribution channels among end-users during the assessment period. Direct sales have traditionally remained a lucrative sales channel, and the status quo is unlikely to change during the assessment period.

To know more about Lacquer Market Trends, Check the link – https://www.factmr.com/report/799/lacquer-market

Lacquer applications continue to remain concentrated in furniture, architectural, and automotive industries. These three end-use industries collectively accounted for nearly 80% volume share of the market. Furniture industry is the biggest end-use industry for lacquers globally, and it will continue to be the biggest demand center during the course of the review period.

Asia Pacific excluding Japan (APEJ) is the largest market for lacquers, followed by Europe and North America. Many countries in APEJ have remained traditional manufacturing hubs, and demand for lacquers, varnished, and coatings has remained robust in the region. In addition to being a major consumer of lacquers, the region has also been a prominent exporter to North America and Europe. However, the report finds that increasing stringency in regulations, combined with increasing labor costs in emerging countries has led to a steady decline in exports in the recent past. End-user demand for high-quality, water-based solvents has also led Asian manufacturers to change their suite of offerings.

The report identifies woodworking as the leading application segment for lacquers globally. In addition to wood, metal and plastics are the other prominent application areas for lacquers. Increase in novel applications pertaining to paper and nail polish are creating new growth avenues for manufacturers. According to the research study, increasing adoption in leather and textiles is also likely to create sustained growth during the assessment period.

To Buy Lacquer Market Report, Check the link- https://www.factmr.com/checkout/799/S

About Fact.MR

Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.

Contact Us

Mr. Rohit Bhisey
Fact.MR
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Email: sales@factmr.com
Web: https://www.factmr.com/
Follow us on Linkedin: https://www.linkedin.com/company/factmr/

Share this post