Nitrocellulose Market Overview:
Global Nitrocellulose market is estimated to reach approximately USD 950 Mn by 2022, after expanding at a CAGR of % from 2018 to 2022.
Nitrocellulose or cellulose nitrate is one of the prominent film formers known for the coatings, ink, film, and adhesive sector. Nitrocellulose market is estimated to witness strong growth due to its significant usage in automotive as well as printing ink application. Among application, printing ink accounted for the largest market share in 2018 and is estimated to retain its dominance over the forecast period on account of technological advancement. Furthermore, increasing use of nitrocellulose-based ink in flexography and gravure painting due to its high quality and durable color paint is predicted to fuel the demand for nitrocellulose market.
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Industry/ Innovation/ Related News:
September 2017- ChemSpec Ltd., established an agreement with Dow Chemical Company in order to act as a distribution partner for its various products such as Walsroder Nitrocellulose and Walsroder NC-Chip products across the U.S. With this agreement, Dow Chemical Company will expand its distribution network. Moreover, ChemSpec's responsibility as Dow's distributor is to expand the distribution channel for small to medium sized manufacturing companies by holding stock for the large user and small-scale user.
Nitrocellulose Market Key Players:
• Atomax Chemicals Co., Ltd.,
• Nitro Quimica,
• Hubei Xuefei Chemical,
• Hengshui Orient Chemical Co., Ltd.,
• Nobel NC,
• IVM Chemicals,
• Synthesia,
• antong Tailida Chemical Co., Ltd.,
• Nitro Chemical Industry Co., Ltd.,
among others are some of the prominent players at the forefront of competition in the Global Nitrocellulose Market and are profiled in MRFR Analysis.
Nitrocellulose Market Segmentation:
Nitrocellulose Market is mainly segmented on the basis of product and applications. Based on the type, the market is again segmented into M grade cellulose, E grade cellulose and others. On the basis of Application, the market is classified into Printing inks, automotive paints, wood coatings, leather finishes, nail varnishes and others.
By Application: Printing inks, automotive paints, wood coatings, leather finishes, nail varnishes and others
Nitrocellulose Market Regional Analysis:
Asia-Pacific countries will further increase the demand for nitrocellulose. The increase in demand for food grains in Brazil, Russia, India, China and South Africa will boost the market Growth; steady growth is seen in North America and Europe. Increase in disposable income and change in consumer’s lifestyle has boosted the market of food grains, cosmetics and electronics which indirectly increase the market of nitrocellulose.
North American market is expected to witness steady growth due to increasing demand for aesthetic design furniture in commercial as well as in residential spaces, which in turn is estimated to drive the consumption of nitrocellulose in the upcoming years. Europe is estimated to witness moderate growth on account of rising demand from automotive sector. Furthermore, strict regulations regarding the storage and usage of this product has led to increase the innovation and development in this sector.
Middle East & African market is expected to register strong growth on account of increasing construction and leather finishing industries present in Qatar, Turkey, the United Arab Emirates, and Saudi Arabia. Market in Latin American countries such as Brazil and Argentina are predicted to register healthy growth on account of rising demand for cosmetics items.
Nitrocellulose Market Table of Content to be Continue…….,
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