The latest report by IMARC Group, titled “Nitrocellulose Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the nitrocellulose market size. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global nitrocellulose market size reached US$ 819.8 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,140.0 Million by 2028, exhibiting a growth rate (CAGR) of 5.38% during 2023-2028. Nitrocellulose (C18H21N11O) refers to a polymer manufactured by treating cellulose, including wood pulp and linters, with a mixture of sulfuric and nitric acids. It is extremely non-toxic, flammable, and immiscible in water, thus making it an apt propellant for large munitions. In recent years, nitrocellulose has gained momentum due to its adoption in various applications in everyday life, such as in smokeless gun powder, waterproof fuses in pyrotechnics, adhesives, inks, varnishes, resins, and lacquer coatings. It is also used in embedding sections in photography, microscopy, electro techniques, photography, galvanoplasty, and plastics.
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Industry Growth:
One of the primary factors driving the market is the increasing application nitrocellulose in the automotive industry to manufacture high-performance paints for metal surfaces on vehicles. Additionally, on account of the excellent adhesion, toughness, durability, solubility, and quick solvent release possessed by nitrocellulose, it is extensively used in the production of cosmetics and personal care products, such as nail creams and lotions, manicuring products, basecoats and undercoats, and enamels, nail paints, and removers, which is positively influencing the market growth. Besides this, the usage of nitrocellulose in the pharmaceutical industry to produce over-the-counter (OTC) drug products for removing calluses, warts, and corns is catalyzing the market growth. In line with this, nitrocellulose is also employed to immobilize deoxyribonucleic acid (DNA), protein with a labelled sequence or antibody, or ribonucleic acid (RNA), microscopy embedding, skin protectants, electro techniques, and microfilters, which is further strengthening the market growth. Apart from this, the changes in fashion trends and the increase in customer capacity is creating lucrative growth opportunities for the key players operating in the market. Moreover, matte or high gloss finishes are required for leather products to improve their appearance and provide protection against moisture and heat, thus driving the market.
Global Nitrocellulose Market 2023-2028 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.
- The Nitrocellulose Group
Breakup by Product:
- M Grade Cellulose
- E Grade Cellulose
- A Grade Cellulose
- Others
Breakup By Application:
- Printing Inks
- Automotive Paints
- Wood Coatings
- Leather Finishes
- Nail Varnishes
- Others
Breakup by End Use Industry:
- Building and Construction
- Textile
- Automobile
- Aerospace
- Personal Care and Cosmetics
- Marines
- Others
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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