Global Nitrocellulose Market 2017-2021
Nitrocellulose is also known as cellulose nitrate that is a mixture of nitric esters of cellulose and nitric acid. Though the compound is highly flammable, it is non-toxic in nature. It can be used in various industries by altering the percentage of nitrogen content in the compound. Nitrocellulose appears as pulpy cotton like solid when dry and clear liquid to semi-solid when dissolved in alcohol, acetone, or an ether-alcohol mixture. Nitrocellulose containing a low concentration of nitrogen is soluble in acetone but not in an ether-alcohol mixture.
Technavio’s analysts forecast the global nitrocellulose market to grow at a CAGR of 6.92% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global nitrocellulose market for 2017-2021. To calculate the market size, the report considers the retail selling price the average selling price of the product.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Nitrocellulose Market 2017-2021
Technavio recognizes the following companies as the key players in the global nitrocellulose market: DowDuPont, Manuco, Nitro Química, Synthesia, and Tembec
Other Prominent Vendors in the market are: Eurenco, Hagedorn, HENGSHUI ORIENT CHEMICAL CO., Jiangsu Tailida Group, Nitrex Chemicals India, Nitro Chemical Industry, Nitrochemie, and T.N.C. INDUSTRIAL.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Growing popularity of natural wood coating technology. Over the past few years, vendors in the chemical industry have been focusing on sustainable processes that have a minimal impact on the environment. Development of environment-friendly products helps vendors gain a competitive edge. R&D activities associated with raw materials offer ample growth opportunities to vendors.”
According to the report, one of the major drivers for this market is Abundance of cellulose and simple manufacturing process of nitrocellulose. Plants produce cellulose that is used in numerous products because of its unique structure and multiple functions. Apart from wood, plant fibers such as cotton, hemp, flax, and jute are the key sources of cellulose. It is a crucial polysaccharide as it is organic and is found abundantly. It is one of the major raw materials used in the production of nitrocellulose and reacts easily with acids and bases.
Further, the report states that one of the major factors hindering the growth of this market is Volatile prices of raw materials used in paint production. The oil and gas industry is one of the key suppliers of raw materials that are used in the production of paints. The acrylic segment holds a major share in the global paint additives market. Raw materials such as propylene or acetylene (used in the production of acrylic acid) are derived from petroleum fractions. Increase in the price of crude oil has a severe effect on the prices of raw materials, which adversely affects the paints market and thereby impacting the global nitrocellulose market.
DowDuPont, Manuco, Nitro Química, Synthesia, Tembec, Eurenco, Hagedorn, HENGSHUI ORIENT CHEMICAL CO., Jiangsu Tailida Group, Nitrex Chemicals India, Nitro Chemical Industry, Nitrochemie, and T.N.C. INDUSTRIAL.