Global Nitrocellulose Market Overview
According to SPER Market Research, the Global Nitrocellulose Market is estimated to reach USD 1.30 billion by 2032 with a CAGR of 5.13%.
Nitrocellulose is a compound created from cellulose, nitric acid, or other heavy nitrate compounds, and is extremely flammable. When used as a low-order explosive or propellant, it is known as guncotton. In addition, if cellulose is not completely nitrated, it can be used for a variety of applications, including plastic films, wooden coatings, and ink printing. Manufacturers are being urged to modify their paint and coating formulations to meet changing regulatory requirements, which is expected to drive the growth of the nitrocellulose market. Furthermore, an increase in consumer spending on high-quality clothing and footwear, which are comfortable and multifunctional, as well as changes in fashion trends, are anticipated to boost demand for nitrocellulose. Additionally, the cellulose nitrate industry benefits from the need for high gloss or matte finishes for leather products to enhance their appearance and provide protection against heat and moisture.
Governments worldwide have released a range of laws and regulations requiring importers to obtain an import license for the sale of nitrocellulose to protect public safety and avoid misuse of the material. Industrial nitrocellulose is classified as a hazardous substance, and as a result, it is subject to regulations related to explosive substances, necessitating more precautionary measures and increased costs. Additionally, the expansion of industrialization is projected to present numerous new business opportunities.
Despite a few challenges, the market is expected to grow in the coming years, primarily due to increased demand for nitrocellulose from the manufacturing sector, which is expected to expand further due to global industrialization. Furthermore, changes in fashion trends and rising customer spending on high-quality clothing and footwear are expected to drive demand for nitrocellulose, which is used in multifunctional apparel and leather products.
Impact of COVID-19 on the Global Nitrocellulose Market
The market demand for nitrocellulose from various end-use industries, including automotive paints, printing inks, and wood coatings, was significantly impacted by the COVID-19 pandemic. The nationwide lockdowns and closure of manufacturing units caused a substantial decline in demand. The automotive sector was severely affected by the pandemic, resulting in the disruptive halt of automobile production. This, in turn, further contributed to the decline in the sector, leading to a reduction in demand for nitrocellulose used in automotive paints.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2032 |
| Base year considered | 2021 |
| Forecast period | 2022-2032 |
| Segments covered | By Application
|
| Regions covered | Asia Pacific, Europe, Middle East and Africa,North America, Latin America |
| Companies Covered | Hubei Xufei Chemical Co. Ltd. IVM Chemicals, Jiangsu Tailida Group, Nitrex Chemicals India Pvt. Ltd., Nitro Chemical Industry Co. Ltd., Nobel NC, Sichuan North Nitrocellulose Corp. (SNC), Synthesia A.S., T.N.C. Industrial Co. Ltd.
|
Target Audience:
- Building and Construction Sector
- Automobile Sector
- Aerospace Sector
- Personal Care and Cosmetics Sector
- Textile Sector
- Printing Industry
- Furniture Industry
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Global Nitrocellulose Market Segmentation:
1. By Application:
- Printing Inks
- Automotive Paints
- Wood Coatings
- Leather Finishes
- Nail Varnishes
2. By Region:
- Asia-Pacific
- Europe
- Middle East & Africa
- North America
- Latin America
Key Topics Covered in the Report:
- Global Nitrocellulose Market Size (FY’2019-FY’2032)
- Overview of Global Nitrocellulose Market
- Segmentation of Global Nitrocellulose Market By Application (Printing Inks, Automotive Paints, Wood Coating, Leather Finishes, Nail Varnishes, Other)
- Statistical Snap of Global Nitrocellulose Market
- Growth Analysis of Global Nitrocellulose Market
- Problems and Challenges in Global Nitrocellulose Market
- Competitive Landscape in the Global Nitrocellulose Market
- Impact of COVID-19 and Demonetization on Global Nitrocellulose Market
- Details on Recent Investment in Global Nitrocellulose Market
- Competitive Analysis of Global Nitrocellulose Market
- Global Nitrocellulose Market Key Players
- SWOT Analysis of Global Nitrocellulose Market
- Global Nitrocellulose Market Future Outlook and Projections (FY’2019-FY’2032)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1 Research data source
2.1.1 Secondary data
2.1.2 Primary data
2.1.3 SPER’s internal database
2.1.4 Premium insight from KOL’s
2.2 Market size estimation
2.2.1 Top-down and Bottom-up approach
2.3 Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2. COVID-19 Impacts of the Global Nitrocellulose Market
5. Market variables and outlook
5.1. SWOT analysis
5.1.1 Strengths
5.1.2 Weaknesses
5.1.3 Opportunities
5.1.4 Threats
5.2. PESTEL analysis
5.2.1 Political landscape
5.2.2 Economic landscape
5.2.3 Social landscape
5.2.4 Technological landscape
5.2.5 Environmental landscape
5.2.6 Legal landscape
5.3. PORTER’S five forces analysis
5.3.1 Bargaining power of suppliers
5.3.2 Bargaining power of Buyers
5.3.3 Threat of Substitute
5.3.4 Threat of new entrant
5.3.5 Competitive rivalry
5.4. Heat map analysis
6. Competitive Landscape
6.1 Global Nitrocellulose Market Manufacturing Base Distribution, Sales Area, Product Type
6.2 Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Nitrocellulose Market
7. Global Nitrocellulose Market, By Application, 2019-2032 (USD Million)
7.1 Printing Inks
7.2 Automotive Paints
7.3 Wood Coatings
7.4 Leather Finishes
7.5 Nail Varnishes
7.6 Other
8.Global Nitrocellulose Market, By Region, 2019-2032 (USD Million)
8.1 Global Nitrocellulose Market and Market Share by Region (2019-2025)
8.2 Global Nitrocellulose Market and Market Share by Region (2026-2032)
8.3 Asia-Pacific
8.3.1 Australia
8.3.2 China
8.3.3 India
8.3.4 Japan
8.3.5 South Korea
8.3.6 Rest of Asia-Pacific
8.4 Europe
8.4.1 France
8.4.2 Germany
8.4.3 Italy
8.4.4 Spain
8.4.5 United Kingdom
8.4.6 Rest of Europe
8.5 Middle East and Africa
8.5.1 Kingdom of Saudi Arabia
8.5.2 United Arab Emirates
8.5.3 Rest of Middle East & Africa
8.6 North America
8.6.1 Canada
8.6.2 Mexico
8.6.3 United States
8.7 Latin America
8.7.1 Argentina
8.7.2 Brazil
8.7.3 Rest of Latin America
9.Company Profiles
9.1 Hubei Xuei Chemical Co. Ltd
9.1.1 Company details
9.1.2 Financial outlook
9.1.3 Product summary
9.1.4 Recent developments
9.2 IVM Chemicals
9.2.1 Company details
9.2.2 Financial outlook
9.2.3 Product summary
9.2.4 Recent developments
9.3 Jiangsu Talida Group
9.3.1 Company details
9.3.2 Financial outlook
9.3.3 Product summary
9.3.4 Recent developments
9.4 Nitro Chemical Industry Co. Ltd
9.4.1 Company details
9.4.2 Financial outlook
9.4.3 Product summary
9.4.4 Recent developments
9.5 Nobel NC
9.5.1 Company details
9.5.2 Financial outlook
9.5.3 Product summary
9.5.4 Recent developments
9.6 Sichuan North Nitrocellulose Corp. (SNC)
9.6.1 Company details
9.6.2 Financial outlook
9.6.3 Product summary
9.6.4 Recent developments
9.7 Synthesia
9.7.1 Company details
9.7.2 Financial outlook
9.7.3 Product summary
9.7.4 Recent developments
9.8 T.N.C Industrial Co. Ltd
9.8.1 Company details
9.8.2 Financial outlook
9.8.3 Product summary
9.8.4 Recent developments
10.List of Abbreviations
11.Reference Links
12.Conclusion
13.Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
