The global demand for Nitrocellulose Market is presumed to reach the market size of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% under the study period of 2022 - 2028. Regarding volume, the market was calculated XX Kilo Tons in 2021 and forecast to touch XX Kilo Tons by 2028 with a CAGR of XX% during 2022-2028.
Nitrocellulose is made by nitrating cellulose with nitric acid or a similar nitrating solid to create a highly flammable material. When nitrocellulose is employed as a low-order explosive or propellant, it is called guncotton. The main component of smokeless gunpowder is nitrocellulose. Because of its non-specific affinity for amino acids, nitrocellulose is also used to immobilize proteins. Nitrocellulose is also commonly used to support diagnostic tests such as U-Albumin assays, pregnancy tests, and CRP tests. Furthermore, when nitrocellulose is dissolved in ether or another organic solvent, the resulting solution is collodion. Guitars are also painted and lacquered with nitrocellulose lacquer.
Market Dynamics
Rising demand for nitrocellulose from various applications such as explosives, printing inks, wood coatings, and plastic films is expected to boost the worldwide nitrocellulose market. Manufacturers have been pushed to update their paint and coating compositions to comply with changing regulatory standards, projected to grow the nitrocellulose market. In addition, changes in design trends and increased customer spending on high-quality clothing fuel demand for comfortable, multifunctional garments and footwear, which is expected to propel the nitrocellulose market ahead. Leather products also require high gloss or matte finishes to enhance their appearance and protect against heat and moisture, which aids the nitrocellulose sector.
The report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of nitrocellulose. The growth and trends of Nitrocellulose Industry provide a holistic approach to this study.
Market Segmentation
This section of the nitrocellulose market report provides detailed data on the segments by analyzing them at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Application
- Printing Inks
- Automotive Paints
- Wood Coatings
- Leather Finishes
- Nail Varnishes
- Others
By Product
- M Grade Cellulose
- E Grade Cellulose
- Others
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Nitrocellulose market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Nitrocellulose Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the nitrocellulose market include EURENCO, GRN Cellulose Pvt. Ltd., Hagedorn NC, Hengshui Orient Chemical Co., Ltd., Nitrex Chemicals India Pvt. Ltd., Nitrocellulose Group, Nitro Quimica, North Sichuan Nitrocellulose Corporation, Synthesia a.s., and TNC Industrial Co. Ltd. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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