The global nitrocellulose market is expected to register a steady revenue CAGR during the forecast period. Rising demand for automotive paints, growing environmental concerns, as well as improved efficiency provided by hybrid and electric vehicles, have resulted in creating high demand for automotive paints and led to driving market revenue growth during the forecast period.
Nitrocellulose, also known as cellulose nitrate, is a mixture of cellulose nitric esters and a highly flammable compound that is the main component of modern gunpowder and is also used in certain lacquers, wood coatings, plastic films, printing inks, and paints. Its extensive properties, such as better adhesion and non-reactivity to other paints, are key factors driving revenue growth of the market. There has been an increase in printing ink applications recently, which is expected to drive revenue growth of the market. The market is expected to benefit from rising global demand for printing ink in the packaging industry during the forecast period.
Top Companies Operating in the Global Nitrocellulose Market:
- Sichuan Nitrocell Corporation (China)
- Nobel NC (Thailand)
- Nitro Química (U.S.)
- DowDuPont (U.S.)
- TNC (U.S.)
- Hubei Xuefei Chemical (China)
- Hengshui Orient Chemical (China)
- Nitrex Chemicals (India)
- Synthesia (U.K.)
- Xinxiang T.N.C Chemical (China)
- Jiangsu Tailida (China)
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Major Factors Contributing to the Global Materials and Chemicals Market Revenue Growth
The global materials chemicals market revenue growth is primarily attributed to factors such as fast-paced industrialization across the globe, rising demand for essential consumer goods (including packaged foods beverages, personal care cosmetic products, and household hygiene products), and increasing applications of raw materials and chemicals in a wide range of industries including the buildings construction, food beverage, pharmaceutical, agriculture, and textile industries. Other important factors contributing to the global market revenue growth are increasing industrial applications of specialty chemicals, growing use of high-performance, organic agrochemicals in the agriculture industry, rising environmental concerns among the population, growing need for environmentally friendly and sustainable raw materials and chemicals, and increasing government investments in the materials chemicals industry.
Table of Contents:
- Report Overview
1.1 Research Scope
1.2 Key Nitrocellulose market segments
1.3 Major players
1.4 Market analysis by product type
1.5 Market analysis by application
1.6 Report timeline - Global Growth Trends
2.1 Global Nitrocellulose market size
2.2 Latest regional market trends
2.3 Emerging growth trends - Competitive Outlook
3.1 Global Nitrocellulose market key players
3.2 Global Nitrocellulose size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Nitrocellulose market
3.5 Mergers, acquisitions, joint ventures, and other strategic alliances
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Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
Nitrocellulose Market Segmentation
Type Outlook (Revenue, USD Billion; 2019-2030)
- E-grade Nitrocellulose
- M-grade Nitrocellulose
- A-grade Nitrocellulose
- Others
Application/End-use Outlook (Revenue, USD Billion; 2019-2030)
- Coatings and Paints
- Printing Inks
- Celluloid
- Other
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