According to the latest report by IMARC Group, titled “Nitrocellulose Market Report: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global nitrocellulose market reached a value of US$ 772 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 1,083 Million by 2027, exhibiting at a CAGR of 5.4% during 2022-2027. Nitrocellulose or cellulose nitrate is a highly flammable compound manufactured by treating cellulose with a mixture of sulfuric and nitric acids. It is commonly used as a mild explosive and solid propellant in guns. Nitrocellulose is also utilized in the manufacturing of nail varnishes, printing inks, smokeless gunpowder, wood coatings, leather finishes and automotive paints. It is non-toxic in nature, highly durable, immiscible in water and fast drying. As a result, it finds extensive applications across various industries, such as textile, aerospace, automotive, marine, cosmetic and construction.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Nitrocellulose Market Trends:
The global nitrocellulose market is primarily being driven by significant growth in the automotive industry. Nitrocellulose is widely used in the manufacturing of high-performance paints used for coating the components of cars, motorcycles, scooters and trucks. In line with this, the increasing product adoption in electric vehicles (EVs) is also contributing to the market growth. Moreover, various product innovations, such as the development of eco-friendly nitrocellulose printing inks with faster drying, high gloss and strong adhesive properties, are providing a thrust to the market growth. Other factors, including the widespread product utilization in the manufacturing of creams, lotions, enamels and nail paint removers, along with the increasing demand for nitrocellulose coatings for wooden products, are anticipated to drive the market toward growth.
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Global Nitrocellulose Market 2022-2027 Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined along with the profiles of the key players being:
DuPont de Nemours Inc., GRN Cellulose Pvt. Ltd., Hagedorn NC, Hubei Xufei Chemical Co. Ltd., IVM Chemicals srl, Nitrex Chemicals India Ltd., Nitro Chemical Industry Ltd., Nitro Quimica, Rayonier Advanced Materials, Rheinmetall AG, Synthesia a.s., T.N.C. Industrial Co. Ltd. and The Nitrocellulose Group.
Breakup by Product:
- M Grade Cellulose
- E Grade Cellulose
- A Grade Cellulose
- Breakup by Application:
- Printing Inks
- Automotive Paints
- Wood Coatings
- Leather Finishes
- Nail Varnishes
Breakup by End Use Industry:
- Building and Construction
- Personal Care and Cosmetics
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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