The global nitrocellulose market size is expected to reach USD 1.09 billion by 2025
registering a CAGR of 6.2%, according to a new report by Grand View Research,
Inc. Wide scope of application across numerous end-use industries is expected
to drive the global market. Nitrocellulose-based printing inks are used in
gravure and flexography printing applications. There has been a rise in
printing ink applications in the recent past and is expected to have a positive
impact on the market growth. Physical properties, such as better adhesion and
non-reactivity to other paints, of the product are expected to compliment the
overall demand.
Nitrocellulose, when added to inks or coatings,
imparts special characteristics, such as superior drying properties and high
solubility. Governments across the globe have issued several regulations and
imposed various mandatory policies for importers to obtain import license for
the trade of this product with an aim to safeguard public interest and prevent
any misuse of the substance. Industrial nitrocellulose is categorized as a
hazardous substance and is thus exposed to a host of regulations related to
explosive substances. Such a categorization leads to more precautionary
measures and a higher related cost. However, growing industrialization is
expected to create ample opportunities for industry expansion.
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https://www.grandviewresearch.com/industry-analysis/nitrocellulose-market
https://www.grandviewresearch.com/industry-analysis/nitrocellulose-market
Further key findings from the study suggest:
· The global nitrocellulose market was valued
at USD 720.12 million in 2018 and is expected to witness a CAGR of 6.2% from
2019 to 2025
· Wood coatings accounted for 24.58% of the
total share in 2018. Nitrocellulose-based paints are preferred over
conventional products due to their characteristics that are suitable for
furniture coating
· However, printing inks is projected to be
the largest and fastest-growing application over the forecast years
· Asia Pacific emerged as the leading
regional market and accounted for over 47.58% of global demand in 2018
· China is the largest product consumer in
APAC on account of rapid growth of the printing inks industry in the country
· Key companies in the industry include Abu
Zaabal Co. for Specialty Chemicals, Atomax Chemicals Co., Ltd., Dow Wolff
Cellulosics GmbH, TNC Industrial Co., Ltd., Nitrochemie AG, Sichuan North
Nitrocellulose Corporation, and Hagedorn NC
· Government restrictions in certain regions
may interrupt the growth opportunities for these market participants
Grand View Research has segmented the
global nitrocellulose market on the basis of application and region:
Nitrocellulose Application Outlook (Volume,
Kilotons; Revenue, USD Million, 2014 - 2025)
·
Printing inks
·
Automotive paints
·
Wood coatings
·
Leather finishes
·
Nail Varnishes
·
Others
Nitrocellulose Regional Outlook (Volume,
Kilotons; Revenue, USD Million, 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
