Global Nitrocellulose Market by Application (Nail Varnishes, Automotive Paints, Wood Coatings, Printing Inks, Leather Finishes) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Industry Insights

In 2018, the global nitrocellulose market was valued at USD 720.12 millions. It is projected to grow at 6.2% CAGR between 2019 and 2025. The market is expected to grow due to the increased use of nitrocellulose-based paints and coatings in emerging economies like India, China, Vietnam, Colombia, and Vietnam. Guncotton is a highly inflammable substance, so its storage and usage are strictly controlled.

These acids are formed when cellulose reacts with the nitrating agent and is used as a propellant. Because they are used in fertilizer production and other industrial applications, sulfuric acid and nitric acid are thought to have high growth rates. Cost of production of cellulose is comprised of raw materials, utilities and maintenance & repair. The largest portion of production costs is attributed to raw material.

Apart from capital/fixed investment costs, there are also pre-operational expenses and working capital. Other than capital/fixed investment, pre-operating costs include setup, capitalized interest, project engineering and management, as well as commissioning. The segment of the printing ink market is driven by technological advances and increased use of eco-friendly inks. Gravure printing and flexography offer high-quality, durable paints. Flexographic printing can also be used on plastics, paper, metallic films, and many other materials. Gravure printing allows engraving images onto cylindrical bases. This is most commonly used in the Rotary printing press.

These inks are more popular than other products because of their superior properties such as fast drying, high adhesion and ease of application. This explosive substance has a nitrogen content around 12.6% and is used both for military and civilian purposes. Market growth may be hindered by several government regulations on hazardous substance disposal. These include those with adverse health effects and high flammability. Numerous governments have issued strict regulations to protect the public's interest and prevent misuse of this substance. Brazil, for example, has prohibited imports of this substance into its country in order to prevent misuse.

Application Insights

Due to the increasing number of residential constructions, wood coatings became the second most popular application segment. Wood coatings have a broad range of uses. Cellulose-nitrate-based wood coats can be mixed with other colors, including fillers, sap stains, overall stains, or toners. This wood coating can be used in sliding doors, windows, and decking furniture. The segment's growth is expected to be supported by the rapid growth in the furniture industry over recent years and the high demand.

Improving standard of living has boosted the demand for furniture, which is also likely to contribute to the segment growth.Nitrocellulose lacquer-based wood coating is the most widely used ingredient in musical instrument factories as finishing agents in steel strings for guitars, mandolins, and banjos. Multilayer coatings for automotive paints enhance their aesthetic appearance and protect against UV rays, corrosion as well as oxidation, oxidation and acid rains. The key ingredients for automotive paints manufacturing are thinners and pigments. Automotive paints are high in solid content with low Volatile Organic Compounds, (VOCs).

These are the main reasons for the increased consumption of cellulose-nitrate in this segment. Guncotton is being restricted in nail varnishes due to safety concerns. Guncotton is also subject to regulations governing transportation and packaging of hazardous substances. These regulations comply with international standards and those of the United Nations. The growing cosmetics industry around the world will likely increase demand for nail varnish products over the forecast period.

High-performance guncotton can also be used in disposable medical devices, mining activities, and other applications. Because of its exceptional properties, it is also a great solution for artificial jewelry applications. Other important applications include pharmaceutical, sealants, artificial jewelry, and other industries. The market has seen a positive impact from the rapid growth in adhesives and sealants over the last few years. These cellulose nitrate adhesives have superior properties such as a longer shelf life and weather resistance. The emergence of new substitutes has caused a slowdown to the cellulose-nitrate industry in recent years.

Regional Insights

Asia Pacific was the largest consumer, accounting for more than half of 2018's total revenue. China, India, Thailand and China are the top producers and importers in the region of cellulosic material. These countries have high levels of cellulose nitrate trade and use. This is due to the increasing demand from end-use markets such as leather tanning and finishes, automotive paints, wood coatings and wood coatings.

Many manufacturers have also moved their production to the region in an effort to lower production costs. These companies have the advantage of a lower-cost workforce and low-cost raw material. China was the largest user of nitrocellulose. The country's rapidly expanding printing inks sector is a key factor in product demand.

Europe was second to Asia Pacific, accounting for 20.21% global volume in 2018. It is likely to lose market share to the high-growth markets of Asia Pacific, Latin America and Latin America. Due to the growing demand for coatings, Mexico and Brazil generate significant revenue in Latin America. North America will also see significant growth between 2019 and 2025, due to increased investments in the automotive paints industry and wood coatings.

Nitrocellulose Market Share insights

The market is dominated by Atomax Chemicals Co. Ltd. and Bergerac N.C., Abu Zaabal Co. For Specialty Chemicals., Nitro Quimica. TNC Industrial Co. Ltd. Dow Wolff Cellulosic GmbH., Hagedorn NC., Nitrex Chemicals. India Pvt. Ltd., and Nitro Chemie AG. These companies invest more in R&D to create efficient products from renewable feedstock. Manufacturers also seek to gain a competitive advantage on certain factors such as economies, scale, innovation, price and cost.

There are many regulations that regulate the industry's manufacturing process and applications use across different end-use industries. Numerous authorities have established guidelines that govern transportation, manufacturing, disposal, and other aspects. To meet increasing demand and to compete with multinationals, manufacturers are expanding their product range. Nitrex Chemicals India Private Limited was founded in March 2004. To expand their product range, Ltd. bought the cellulose nitrate segment of Imperial Chemical Industries (ICI), India.

The Report Covers Certain Segments

This report forecasts volume and revenue growth at the global, regional and country level. It also provides analysis of industry trends for each sub-segment from 2014-2024. Grand View Research has divided the global nitrocellulose market report by application and region.

• Application Outlook (Volume of Kilotons; Revenues, USD Millions, 2014-2025)

  • Inks for printing

  • Automotive paint

  • Wood coatings

  • Leather finishes

  • Nail varnishes

  • Other

• Regional Outlook (Volume of Kilotons; Revenues, USD Millions, 2014-2025)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • France

    • U.K.

    • Italy

    • Turkey

    • Spain

    • Austria

    • Russia

    • Rest of Europe

  • Asia Pacific

    • China

    • India

    • Japan

    • Thailand

    • Vietnam

    • Malaysia

    • Indonesia

    • Taiwan

    • Rest of Asia Pacific

  • Latin America

    • Mexico

    • Brazil

    • Argentina

    • Peru

    • Colombia

    • Chile

  • Middle East & Africa

    • South Africa

    • Egypt

    • UAE

    • Rest of Middle East and Africa

Up Market Research published a new report titled “Nitrocellulose Market research report which is segmented by Application (Nail Varnishes, Automotive Paints, Wood Coatings, Printing Inks, Leather Finishes), By Players/Companies Abu Zaabal Co for Specialty Chemicals, Nitro Quimica, Nitro Chemie AG These companies are investing more in R&D to develop efficient products from renewable feedstock Manufacturers are also striving to achieve a competitive edge on specific factors, innovation, Hagedorn NC, TNC Industrial Co Ltd, operation cost, Atomax Chemicals Co Ltd, such as economies of scales, price, Dow Wolff Cellulosic GmbH, Bergerac NC, Nitrex Chemicals India Pvt Ltd”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Nitrocellulose Market Report Segments:

The market is segmented by Application (Nail Varnishes, Automotive Paints, Wood Coatings, Printing Inks, Leather Finishes).

Nitrocellulose Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Nitrocellulose Market

Overview of the regional outlook of the Nitrocellulose Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Nitrocellulose Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Nitrocellulose Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Nail Varnishes

                2. Automotive Paints

                3. Wood Coatings

                4. Printing Inks

                5. Leather Finishes

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Nitrocellulose Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
• Consumer Insights
• Understanding Competition Scenario
• Product & Brand Management
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Reasons to Purchase the Nitrocellulose Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.