Global Nitrocellulose Market By Product (M Grade, E Grade, Others), Application (Printing Inks, Automotive Paints, Wood Coatings, Leather Finishes, Nail Varnishes, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Nitrocellulose Market
Global nitrocellulose market is expected to rise to an estimated value of USD 1083.17 million by 2026, registering a substantial CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the increased applications from the coatings market which has been a result of increased standard of living.
Market Definition: Global Nitrocellulose Market
Nitrocellulose commonly known as guncotton, also known with a variety of different names is a flammable chemical compound that is produced when nitric acid is combined as an exposure to nitrating cellulose. It is utilized in a variety of applications from the end-use industries such as a propellant, thickener, due to its characteristics providing better adhesion, lubricity and quick drying time when used in coatings.
- Increased usage of the product from the inks application due to a rise in demand from the developing regions is expected to have a positive effect on the growth
- Increased disposable income of individuals resulting in greater consumption of personal care & cosmetics product resulting in greater demand from that particular market
- Increased usage from life-sciences & research applications coupled with usage as the base for gunpowder production; this factor is expected to foster growth in the market
- Concerns regarding the usage of this compound due to its flammable characteristics requiring extra-care; this factor is expected to hinder the growth of the market growth
- Large levels of operating costs and raw materials costs associated with the production of these compounds is expected to restrain the growth of the market
- Requirement of a supporting material with nitrocellulose due to its fragile properties is expected to hamper the growth of the market
Global Nitrocellulose Market Segmentation:
- M Grade
- E Grade
- Printing Inks
- Automotive Paints
- Wood Coatings
- Leather Finishes
- Nail Varnishes
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
Key Developments in the Market:
- In February 2017, Nitro Química announced the launch of several new product & solution offerings which has been a result of restructuring of its brands. The product launches enable the company to better serve the consumers of nitrocellulose with the highest quality available.
- In October 2016, Nitro Química announced that they had acquired Alchemix Corporation through their subsidiary located in the United States. The acquisition includes the facility situated in College Park, Georgia, Atlanta, United States. This acquisition will enable Nitro Química to expand their consumer base as well as having the capability of expanding their presence in the North America market.
Global nitrocellulose market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of nitrocellulose market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the global nitrocellulose market are Manuco; Nitro Química; Hubei Xufei Chemical Co., Ltd.; Laboratoire Gifrer-Barbezat; Nitro Chemical Industry; Jiangsu Tailida Group; Rayonier Advanced Materials; DuPont de Nemours, Inc.; T.N.C. INDUSTRIAL CO., LTD.; sichuan nitrocell Co., LTD.; Nitrex Chemicals India Ltd.; NOBEL NC; Synthesia, a.s.; Rheinmetall AG and IVM Chemicals Srl among others.
Research Methodology: Global Nitrocellulose Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved