Global Nitrocellulose Market / Overview:
Global Nitrocellulose market is estimated to reach approximately USD 950 million by 2022, after expanding at a CAGR of XX % from 2018 to 2022.
Nitrocellulose is also known as guncotton, it is highly inflammable compound. Physical properties such as better adhesion and non-reactivity to other paints are expected to compliment the overall demand. Nitrocellulose, when added to inks or coatings imparts special characteristics such as excellent adhesion, superior drying properties, and high solubility.
The global Nitrocellulose market is segmented based on Product, application and region for forecasted period 2018 to 2022. On basis of Nitrocellulose, it is segmented by Product as M grade cellulose, E grade cellulose and others. In M grade cellulose, it is highly utilized in consumer products such as thickener and emulsifier in lubricants in nutritional supplement capsules and others.
On basis of application, the global Nitrocellulose market can be segmented into Printing inks, automotive paints, wood coatings, leather finishes, nail varnishes and others .print inking inks is driven by technology advancement and eco-friendly inks. Print inking inks is largest application industry of nitrocellulose market. automotive paints is second largest segment in Nitrocellulose .Wood coating manufacturing process highly utilize Nitrocellulose as it is has ability of multiple coating applications and it is user friendly, Nitrocellulose is expected to witnessed a significant growth in forecasted period.
The global nitrocellulose market has been evaluated to be rapidly growing and is expected to reach further. Benefits such as vast scope of application, innovation in end-user products and rapid industrialization in developing the economy and increasing the market of nitrocellulose globally. Increase in price of raw material and regulations of government regarding usage of chemicals will hindered the market in coming years.
The global nitrocellulose market is increasing due to growth in technology advancement and competitive pricing by local and regional vendors. To gain advantage, local manufacturers should increase their capacity and invest more in R&D activities. Moreover, research of new product development according to standards set by government will also increase the demand of nitrocellulose in end-user industries. The market will see vigorous growth and related investment in the forecasted period along with technological advancement in nitrocellulose for applications. This is likely to increase further in future.
Study Objectives of Nitrocellulose Market:
- To study market overview of the Nitrocellulose market
- To estimate market size by product , by application and region
- To provide insights about market drivers, restrains and opportunities of nitrocellulose market
- To provide geographically market analysis and outlook for North America, Europe, Asia, and Rest of the World (ROW) and their countries
- To analyze the global nitrocellulose market based on various factors- supply chain analysis, porters five force analysis etc.
- To provide strategic profiling of the key players in the market, broadly analyzing their core competencies.
- To evaluate competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Global Nitrocellulose
The global Nitrocellulose market is mainly segmented on the basis of product and applications. Based on the type, the market is again segmented into M grade cellulose, E grade cellulose and others. On the basis of Application the market is classified into Printing inks, automotive paints, wood coatings, leather finishes, nail varnishes and others.
Market Key Players:
- BASF SE,
- Akzo Nobel N.V,
- Clariant International Ltd,
- Evonik Industries AG,
- Huntsman International LLC,
- PPG Industries,
- Sumitomo Chemical,
- Cytec Industries Inc,
- Albemarle Corporation.
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