The latest report by IMARC, titled “Nitrocellulose Market: Global Industry Trends, Share, Growth, Opportunity and Forecast 2023-2028”, finds that the global nitrocellulose market size reached US$
819.8 Million in 2022. 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.
Global Nitrocellulose Market Trends:
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. Looking forward, IMARC Group expects the market value to reach US$ 1,140.0 Million by 2028, expanding at a CAGR of
5.38% during 2023-2028.
- Based on the product, the market has been divided into M grade, E grade, A grade, and other cellulose.
- On the basis of the application, the market has been segmented into printing inks, automotive paints, wood coatings, leather finishes, nail varnishes, and others.
- Based on the end use industry, the market has been segmented into building and construction, textile, automobile, aerospace, personal care and cosmetics, marines, and others.
- Region-wise, the market has been classified into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some 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. and The Nitrocellulose Group.
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