Global Nitrocellulose Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027

Global Nitrocellulose Market Overview:

“The global Nitrocellulose Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

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Nitrocellulose is also known as cellulose nitrate and guncotton, and is a combination of nitric esters of cellulose, which is a highly flammable compound. Nitrocellulose is a major component of smokeless gunpowder, and is also used in certain lacquers and paints.

Nitrocellulose is obtained from purified cellulose, either in the form of cotton linters or wood-pulp. Nitrocellulose characteristics change according to source of cellulose, strength of reacted acid, temperature of reaction, time of reaction, and acid to cellulose ratio.

Nitrocellulose finds wide applications in printing inks, wood lacquers, and auto refinish paints, which is a major factor driving growth of the global nitrocellulose market. In addition, as it has highly flammable and nontoxic properties, nitrocellulose is used in explosives, rocket propellants, flash paper, and smokeless gunpowder. Nitrocellulose is also used in the cosmetic industry for nail varnishes, sterility tests for pharmaceutical products, and in lacquer as an aircraft dope.

However, stringent government regulations related to use in cosmetics owing to adverse effect, and related to transportation of nitrocellulose due to inflammable property is expected to hamper growth of the global nitrocellulose market to a certain extent.

Recent advancements such as development of compact nitrocellulose-based interferometric biochips used for in-situ label-free detection of metalloproteinase (MMP9) related to dry eye disease is expected to create new opportunities for players operating in the global nitrocellulose market.

North America market is expected to account for highest share in the global market in terms of revenue, owing to increasing demand from wood coating automobile industries, and significant presence of prominent players operating in the market in this region. Europe market is projected to account for second-largest revenue share in the global market, followed by markets in Asia Pacific, Latin America, and Middle East & Africa respectively.

The market in Asia Pacific is projected to register fastest revenue CAGR over the forecast period. This can be attributed to rising demand from end use industries such as leather, printing, and pharmaceuticals. Additionally, rising demand for personal care products in emerging economies such as China, Japan, and India is expected to further propel growth of the Asia Pacific market over the forecast period.

Global Nitrocellulose Market Segmentation:

By Application:

• Automotive paints
• Printing inks
• Leather finishes
• Wood coatings
• Nail varnishes
• Others

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa