Nitrocellulose Market by Solubility (Alcohol-Soluble, Ester-Soluble), Nitrogen Content (High, Low, Medium), Form, Application - Global Forecast 2024-2030

Nitrocellulose Market by Solubility (Alcohol-Soluble, Ester-Soluble), Nitrogen Content (High, Low, Medium), Form, Application - Global Forecast 2024-2030

The Nitrocellulose Market size was estimated at USD 974.72 million in 2023 and expected to reach USD 1,033.69 million in 2024, at a CAGR 6.15% to reach USD 1,480.89 million by 2030.

Nitrocellulose is a highly flammable compound produced by nitrating cellulose through exposure to nitric acid or another strong nitrating agent and it forms a clear, colorless slightly yellowish, gelatinous substance. Due to its unique properties, such as being lightweight and having a rapid burning rate without leaving any residue, nitrocellulose finds applications in various industries, notably in the production of lacquers, inks, and explosives. The surging growth in automotive manufacturing and construction activities, especially in emerging economies, has led to increased demand for paints and coatings, subsequently propelling the demand for nitrocellulose. Continuous expansion of the printing industry with the rising need for inks is creating a platform for nitrocellulose. Volatility in raw material prices and availability of a wide variety of alternatives hampers the market growth. Rising innovations in coatings technology that require superior finish and faster drying times that bolster the use of nitrocellulose-based products are expected to create opportunities for market growth.

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