Global Nitrocellulose Market By Product (M Grade Nitrocellulose, E Grade Nitrocellulose, A Grade Nitrocellulose and Others), Application (Printing Inks, Automotive Paints, Wood Coatings, Leather Finishes, Nail Varnishes and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights of Nitrocellulose Market
Data Bridge Market Research analyses that the nitrocellulose market will witness a CAGR of 3.47% for the forecast period of 2021-2028. Rising application of nitrocellulose by for coating application, rising demand for nitrocellulose by personal care and cosmetic industry and increasing personal disposable income are the major factors attributable to the growth of the nitrocellulose market. This signifies that the global nitrocellulose market value would stand tall by USD 803.38 million by the year 2028.
Nitrocellulose is a compound formed by nitrating cellulose with nitric acid or to a mixture of nitric acid with other acid (generally sulphuric and hydrochloric acid). Purified cellulose is used to obtain nitrocellulose in the form of cotton linters or wood pulp. Nitrocellulose is highly inflammable in nature and thus is used in rockets, propellants, explosives and other applications. The properties or the characteristics of nitrocellulose change according to the source of cellulose, time of reaction and acid to cellulose ratio. Also known as cellulose nitrate, flash cotton or guncotton, nitrocellulose can also be used in plastic films and printing inks.
Rise in the application of nitrocellulose by the various end user verticals for a wide range of applications is the root cause fuelling up the market growth rate. Properties offered by nitrocellulose such as flammability, better adhesion, non- reactivity to other paints and non- toxicity make it a perfect go for many operations. Rising demand for sterility tests by the pharmaceutical industry will also propel growth in the demand for nitrocellulose globally. Rising expenditure for life sciences research and developmental activities will further create lucrative growth opportunities for the nitrocellulose market. Rising demand for hybrid and electric vehicles would mean rise in the demand for automotive coatings. This would directly and positively impact the demand for nitrocellulose.
However, the explosive nature of nitrocellulose will pose a major challenge to the growth of the market. Careless handling of nitrocellulose can lead a disastrous losses and even loss of lives. The inflammable nature of nitrocellulose will further restrict its scope of application in segment like transportation. High operating costs associated with nitrocellulose will further derail the market growth rate. Also, stringent regulations imposed by the government related to its application in cosmetics owing to the adverse effects will further hamper the nitrocellulose market growth rate. Fluctuations in the prices of raw materials will also hamper the market growth rate.
This nitrocellulose market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on nitrocellulose market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Nitrocellulose Market Scope and Market Size
The nitrocellulose market is segmented on the basis of product and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of product, the nitrocellulose market is segmented into M grade nitrocellulose, E grade nitrocellulose, A grade nitrocellulose and others.
- On the basis of application, the nitrocellulose market is segmented into printing inks, automotive paints, wood coatings, leather finishes, nail varnishes and others.
Global Nitrocellulose Market Country Level Analysis
The nitrocellulose market is analysed and market size, volume information is provided by country product and application industry as referenced above.
The countries covered in the nitrocellulose market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific is dominates the nitrocellulose market and is expected to undergo substantial gains during the forecast period. The region will also project the highest compound annual growth rate (CAGR) for the forecast period. This is because of the rising application of nitrocellulose in the paints and coating sector. Rising urbanization and personal disposable income are some other indirect market growth determinants. Rising demand for nitrocellulose by the leather industry will further create lucrative market growth opportunities.
The country section of the nitrocellulose market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Nitrocellulose Market Share Analysis
The nitrocellulose market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to nitrocellulose market.
The major players covered in the nitrocellulose market report are Nitro., Hubei Xufei Chemical Co., Ltd., Rayonier Advanced Materials, Jiangsu Tailida Group, Laboratoire Gifrer-Barbezat, Nitro Chemical Industry, DuPont., T.N.C. INDUSTRIAL CO., LTD., sichuan nitrocell Co., LTD., Nitrex Chemicals India Ltd., The Nitrocellulose Group, Synthesia, a.s., Rheinmetall AG, IVM Chemicals Srl, Atomaxchem, Snapdragon Neural Processing Engine SDK, Sichuan Nitrocell Corporation, North Chemical Industries and Dow among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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