Nitrocellulose Market Size- By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2032
Global Nitrocellulose Market Overview
According to SPER Market Research, the Global Nitrocellulose Market is estimated to reach USD 1.30 billion by 2032 with a CAGR of 5.13%. Nitrocellulose is a compound created from cellulose, nitric acid, or other heavy nitrate compounds, and is extremely flammable. When used as a low-order explosive or propellant, it is known as guncotton. In addition, if cellulose is not completely nitrated, it can be used for a variety of applications, including plastic films, wooden coatings, and ink printing. Manufacturers are being urged to modify their paint and coating formulations to meet changing regulatory requirements, which is expected to drive the growth of the nitrocellulose market.
Impact of COVID-19 on the Global Nitrocellulose Market
The market demand for nitrocellulose from various end-use industries, including automotive paints, printing inks, and wood coatings, was significantly impacted by the COVID-19 pandemic. The nationwide lockdowns and closure of manufacturing units caused a substantial decline in demand. The automotive sector was severely affected by the pandemic, resulting in the disruptive halt of automobile production. This, in turn, further contributed to the decline in the sector, leading to a reduction in demand for nitrocellulose used in automotive paints.
Scope of the Report:
Report Metric Details
Market size available for years 2019-2032
Base year considered 2021
Forecast period 2022-2032
Segments covered By Application
Regions covered Asia Pacific, Europe, Middle East and Africa,North America, Latin America
Companies Covered Hubei Xufei Chemical Co. Ltd. IVM Chemicals, Jiangsu Tailida Group, Nitrex Chemicals India Pvt. Ltd., Nitro Chemical Industry Co. Ltd., Nobel NC, Sichuan North Nitrocellulose Corp. (SNC), Synthesia A.S., T.N.C. Industrial Co. Ltd.
Global Nitrocellulose Market Segmentation:
By Application: Based on the Application, Global Nitrocellulose Market is segmented as; Printing Inks, Automotive Paints, Wood Coating, Leather Finishes, Nail Varnishes, Other
By Region: North America, Europe, South America, Asia Pacific, the Middle East, and Africa are among the areas for the market that were examined. Due to an increase in residential and commercial construction activities in line with rapid urbanisation, Asia Pacific currently dominates the nitrocellulose market.
- 1. Introduction
- 1.1. Scope of the report
- 1.2. Market segment analysis
- 2. Research Methodology
- 2.1 Research data source
- 2.1.1 Secondary data
- 2.1.2 Primary data
- 2.1.3 SPER’s internal database
- 2.1.4 Premium insight from KOL’s
- 2.2 Market size estimation
- 2.2.1 Top-down and Bottom-up approach
- 2.3 Data triangulation
- 3. Executive Summary
- 4. Market Dynamics
- 4.1. Driver, Restraint, Opportunity and Challenges analysis
- 4.1.1 Drivers
- 4.1.2 Restraints
- 4.1.3 Opportunities
- 4.1.4 Challenges
- 4.2. COVID-19 Impacts of the Global Nitrocellulose Market
- 5. Market variables and outlook
- 5.1. SWOT analysis
- 5.1.1 Strengths
- 5.1.2 Weaknesses
- 5.1.3 Opportunities
- 5.1.4 Threats
- 5.2. PESTEL analysis
- 5.2.1 Political landscape
- 5.2.2 Economic landscape
- 5.2.3 Social landscape
- 5.2.4 Technological landscape
- 5.2.5 Environmental landscape
- 5.2.6 Legal landscape
- 5.3. PORTER’S five forces analysis
- 5.3.1 Bargaining power of suppliers
- 5.3.2 Bargaining power of Buyers
- 5.3.3 Threat of Substitute
- 5.3.4 Threat of new entrant
- 5.3.5 Competitive rivalry
- 5.4. Heat map analysis
- 6. Competitive Landscape
- 6.1 Global Nitrocellulose Market Manufacturing Base Distribution, Sales Area, Product Type
- 6.2 Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Nitrocellulose Market
- 7. Global Nitrocellulose Market, By Application, 2019-2032 (USD Million)
- 7.1 Printing Inks
- 7.2 Automotive Paints
- 7.3 Wood Coatings
- 7.4 Leather Finishes
- 7.5 Nail Varnishes
- 7.6 Other
- 8.Global Nitrocellulose Market, By Region, 2019-2032 (USD Million)
- 8.1 Global Nitrocellulose Market and Market Share by Region (2019-2025)
- 8.2 Global Nitrocellulose Market and Market Share by Region (2026-2032)
- 8.3 Asia-Pacific
- 8.3.1 Australia
- 8.3.2 China
- 8.3.3 India
- 8.3.4 Japan
- 8.3.5 South Korea
- 8.3.6 Rest of Asia-Pacific
- 8.4 Europe
- 8.4.1 France
- 8.4.2 Germany
- 8.4.3 Italy
- 8.4.4 Spain
- 8.4.5 United Kingdom
- 8.4.6 Rest of Europe
- 8.5 Middle East and Africa
- 8.5.1 Kingdom of Saudi Arabia
- 8.5.2 United Arab Emirates
- 8.5.3 Rest of Middle East & Africa
- 8.6 North America
- 8.6.1 Canada
- 8.6.2 Mexico
- 8.6.3 United States
- 8.7 Latin America
- 8.7.1 Argentina
- 8.7.2 Brazil
- 8.7.3 Rest of Latin America
- 9.Company Profiles
- 9.1 Hubei Xuei Chemical Co. Ltd
- 9.1.1 Company details
- 9.1.2 Financial outlook
- 9.1.3 Product summary
- 9.1.4 Recent developments
- 9.2 IVM Chemicals
- 9.2.1 Company details
- 9.2.2 Financial outlook
- 9.2.3 Product summary
- 9.2.4 Recent developments
- 9.3 Jiangsu Talida Group
- 9.3.1 Company details
- 9.3.2 Financial outlook
- 9.3.3 Product summary
- 9.3.4 Recent developments
- 9.4 Nitro Chemical Industry Co. Ltd
- 9.4.1 Company details
- 9.4.2 Financial outlook
- 9.4.3 Product summary
- 9.4.4 Recent developments
- 9.5 Nobel NC
- 9.5.1 Company details
- 9.5.2 Financial outlook
- 9.5.3 Product summary
- 9.5.4 Recent developments
- 9.6 Sichuan North Nitrocellulose Corp. (SNC)
- 9.6.1 Company details
- 9.6.2 Financial outlook
- 9.6.3 Product summary
- 9.6.4 Recent developments
- 9.7 Synthesia
- 9.7.1 Company details
- 9.7.2 Financial outlook
- 9.7.3 Product summary
- 9.7.4 Recent developments
- 9.8 T.N.C Industrial Co. Ltd
- 9.8.1 Company details
- 9.8.2 Financial outlook
- 9.8.3 Product summary
- 9.8.4 Recent developments
- 10.List of Abbreviations
- 11.Reference Links
- 12.Conclusion
- 13.Research Scope
Research Assistance
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