Nitrocellulose Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Nitrocellulose Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global nitrocellulose market size reached US$ 819.8 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,140.0 Million by 2028, exhibiting a growth rate (CAGR) of 5.38% during 2023-2028.

Nitrocellulose (C18H21N11O38) is a polymer produced by treating cellulose, such as cotton linters and wood pulp, with a mixture of nitric and sulfuric acids. It is highly flammable, non-toxic, and immiscible in water, which makes it an excellent propellant for large munitions. As a result, it finds numerous applications in everyday life, ranging from smokeless gun powder to waterproof fuses in pyrotechnics to inks, adhesives, varnishes, resins, and lacquer coatings. Besides this, it is also utilized in embedding sections in microscopy, photography, electro techniques, galvanoplasty, and plastics worldwide.

Nitrocellulose Market Trends:
The extensive use of nitrocellulose in different end use industries across the globe represents one of the major factors impelling the market growth. For instance, it is employed in the automotive industry for manufacturing high-performance paints for metal surfaces on vehicles. Additionally, boosting sales of vehicles on account of improving income levels and rapid urbanization is contributing to the market growth. Moreover, due to its excellent adhesion, durability, toughness, solubility, and quick solvent release under ambient drying conditions, nitrocellulose is used in the formulation of cosmetics and personal care products. This, in confluence with the escalating demand for these products, is driving the adoption of nitrocellulose in manicuring products, basecoats and undercoats, nail creams and lotions, and nail polish, enamels, and removers. Apart from this, it is utilized in the pharmaceutical industry to make over-the-counter (OTC) drug products for the removal of corns, warts, and calluses. Nitrocellulose is also gaining traction for producing membranes that are used to immobilize deoxyribonucleic acid (DNA), ribonucleic acid (RNA), or protein with a labeled sequence or antibody, microscopy embedding, electro techniques, skin protectants, and microfilters.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global nitrocellulose market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product, application and end use industry.

Breakup by Product:

M Grade Cellulose
E Grade Cellulose
A Grade Cellulose
Others

Breakup by Application:

Printing Inks
Automotive Paints
Wood Coatings
Leather Finishes
Nail Varnishes
Others

Breakup by End Use Industry:

Building and Construction
Textile
Automobile
Aerospace
Personal Care and Cosmetics
Marines
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles 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 Química, Rayonier Advanced Materials, Rheinmetall AG, Synthesia a.s., T.N.C. Industrial Co. Ltd. and The Nitrocellulose Group.

Key Questions Answered in This Report
1. What was the size of the global nitrocellulose market in 2022?
2. What is the expected growth rate of the global nitrocellulose market during 2023-2028?
3. What are the key factors driving the global nitrocellulose market?
4. What has been the impact of COVID-19 on the global nitrocellulose market?
5. What is the breakup of the global nitrocellulose market based on the product?
6. What is the breakup of the global nitrocellulose market based on the application?
7. What is the breakup of the global nitrocellulose market based on the end use industry?
8. What are the key regions in the global nitrocellulose market?
9. Who are the key players/companies in the global nitrocellulose market?