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The Global Nitrocellulose Market size is estimated to grow by USD 421.2 million between 2022 and 2027 exhibiting a CAGR of 7.56%. Nitrocellulose is also known as cellulose nitrate. It is a mixture of the nitric esters of cellulose and nitric acid. Though the compound is highly flammable, it is non-toxic in nature. Wood, cotton, and hemp are the key sources of cellulose, which is used in the production of nitrocellulose.
The growth of the market depends on several factors, including the abundant availability of cellulose and simple manufacturing process for nitrocellulose, the growth of the wooden furniture industry, and the increasing demand for nitrocellulose in emerging economies.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing demand for nitrocellulose in emerging economies is notably driving market growth. A rise in construction activities and projects, automotive production, and other application segments in emerging economies is expected to increase the demand for nitrocellulose. The demand for wood coatings and automotive paints is increasing in emerging economies such as China, the Philippines, India, Indonesia, Russia, Thailand, and Brazil, which is expected to have a significant impact on the growth of the global nitrocellulose market.
China and India are major manufacturing hubs in APAC. Manufacturers of nitrocellulose are shifting their operations to these countries owing to factors such as the ready availability of raw materials and land, reduced transportation costs, less stringent regulations, and the availability of inexpensive labor. High disposable incomes and changing lifestyles have increased their spending on consumer goods. Moreover, the increasing automotive and industrial applications of nitrocellulose in emerging economies are expected to fuel the demand for nitrocellulose during the forecast period.
The increasing use of nitrocellulose as a propellant is a key trend in the market. Nitrocellulose is used as a propellant or low-order explosive. Pipe bombs, gunpowder, and most petroleum-based bombs such as the Molotov cocktail are some examples of low-order explosives. Propellants are classified into single-base, double-base, and composites. Single-base propellants include simple forms of nitrocellulose powder. Nitroglycerine-added nitrocellulose powder is a double-base propellant. Composites comprise a combination of fuels and oxidizers, which contain nitrocellulose and nitroglycerine.
Propellants that contain nitrocellulose are widely used in the global defense sector for propelling projectiles. Currently, all propellants in small arms use nitrocellulose due to its high chemical energy. Hence, the increasing use of nitrocellulose as propellants in industries such as defense and mining is expected to support the global market growth during the forecast period.
Stringent regulations on emissions of hazardous substances may impede market growth. Paints and coatings have certain volatile organic chemicals (VOCs), which are dangerous for the environment. In Western Europe and North America, regulatory authorities have imposed stringent regulations to limit harmful emissions. For instance, the European Union (EU) restricts the use of environmentally hazardous materials and urges vendors to produce safe chemical products.
Manufacturers of automotive paints are focusing on the development of high solvent-borne coatings, which are environment-friendly and comply with regulations. Directives and guidelines by the US Food and Drug Administration (FDA) and the Registration, Evaluation, Authorisation, and Restriction of Chemicals (REACH) in the EU focus on the safe transportation of nitrocellulose. However, ensuring safe logistics poses a challenge for vendors of nitrocellulose, as it increases the operating costs for manufacturers. Therefore, stringent regulations imposed on nitrocellulose vendors can pose a major challenge to the growth of the global nitrocellulose market during the forecast period.
This nitrocellulose market report extensively covers market segmentation by application (printing ink, automotive paint, wood coating, leather finishes, and others), grade type (E grade, A grade, and M grade), and geography (APAC, Europe, North America, Middle East and Africa, and South America).
The market share growth by the printing ink segment will be significant during the forecast period. Nitrocellulose is a key ingredient used in the formulation of inks and comprises 8%-10% of the raw material. It is preferred in the printing ink industry owing to its low cost, quick drying, and heat resistance. It can be dissolved in organic solvents and is odorless and non-toxic.
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The printing ink segment was valued at USD 194.63 million in 2017 and continued to grow by 2021. Printing inks in the packaging industry are used for packaging food and bakery products. The nitrocellulose content in printing ink enables the production of graphics with high contrast and resolution. Nitrocellulose-based printing inks are mainly used for packaging food, as they are environment-friendly and do not contain toxic monomers. Nitrocellulose-based printing inks are used for surface printing and lamination as well. They are preferred in the packaging and flexographic printing industries, as they are odorless and provide gloss with high adhesion to many different types of substrates. Thus, the increasing use of printing inks in different end-user industries will propel the growth of the global nitrocellulose market during the forecast period.
Based on the type segment, the market is classified into E grade, A grade, and M grade.
APAC is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The demand for nitrocellulose as a raw material is expected to increase in APAC during the forecast period owing to high investments across key application segments, such as automotive paints and wood coatings, in emerging economies such as India, China, and other countries. Nitrocellulose is used in lacquer, paints, coatings, and coating sprays. China, India, Indonesia, Vietnam, and Japan are some of the key revenue-generating countries in the region due to the high demand for nitrocellulose. The increase in the disposable income of people, the rising demand for automobiles and leather products from the middle-income population, and rapid globalization are other factors that drive the demand for nitrocellulose. Many established players are moving their business operations and investments from North America and Europe to APAC because of low capital investments and the availability of low-cost labor. Moreover, the increasing focus on expanding automobile production due to the growth of the automotive sector is expected to boost the growth of the market in APAC during the forecast period.
In 2020, the imposition of lockdowns due to COVID-19 negatively affected most industrial sectors, including oil and gas refining, chemical production, electronics and semiconductor manufacturing, and others. However, in 2021, governments implemented mass vaccination programs, which led to a significant reduction in the number of COVID-19 cases. As a result, COVID-19-related restrictions were relaxed. This led to a gradual resumption of regional economic activities, which will accelerate the demand for nitrocellulose from various application segments. These factors are expected to drive the growth of the global market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Nitrocellulose Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Hubei Xuefei Chemical Co. Ltd. - The company offers civilian nitrocellulose used for wood, paper, and lacquer industries. It focuses on developing and producing nitro cotton, nitrocellulose, and nitrocellulose solution.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
AGROFERT AS, Asahi Kasei Corp., Celanese Corp., Eastman Chemical Co., Eurenco, GRN Cellulose Pvt. Ltd., Hagedorn NC GmbH, Hubei Xuefei Chemical Co. Ltd., International Flavors and Fragrances Inc., IVM Srl, KOREA CNC Ltd., Kumho Petrochemical Co. Ltd., MAXAMCORP HOLDING SL, Merck KGaA, Nitrex Chemicals India Ltd., Nitro, Nitro Chemical Industry Ltd., Nitroparis S.L., TNC Industrial Co. Ltd., and Rheinmetall AG
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The nitrocellulose market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Nitrocellulose Market Scope |
|
Report Coverage |
Details |
Page number |
170 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.56% |
Market growth 2023-2027 |
USD 421.2 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
7.2 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 37% |
Key countries |
US, China, South Korea, Germany, and Italy |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AGROFERT AS, Asahi Kasei Corp., Celanese Corp., Eastman Chemical Co., Eurenco, GRN Cellulose Pvt. Ltd., Hagedorn NC GmbH, Hubei Xuefei Chemical Co. Ltd., International Flavors and Fragrances Inc., IVM Srl, KOREA CNC Ltd., Kumho Petrochemical Co. Ltd., MAXAMCORP HOLDING SL, Merck KGaA, Nitrex Chemicals India Ltd., Nitro, Nitro Chemical Industry Ltd., Nitroparis S.L., TNC Industrial Co. Ltd., and Rheinmetall AG |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Grade Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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