Nitrocellulose Market Overview:
Global Nitrocellulose market is estimated to reach approximately USD 950 Million by 2022, after expanding at a CAGR of % from 2018 to 2022. Nitrocellulose is also known as guncotton, it is highly inflammable compound. Physical properties such as better adhesion and non-reactivity to other paints are expected to compliment the overall demand.
Nitrocellulose Market Key Players:
- Atomax Chemicals Co., Ltd.,
- Nitro Quimica,
- Hubei Xuefei Chemical,
- Hengshui Orient Chemical Co., Ltd.,
- Nobel NC,
- IVM Chemicals,
- antong Tailida Chemical Co., Ltd.,
- Nitro Chemical Industry Co., Ltd.,
among others are some of the prominent players at the forefront of competition in the Global Nitrocellulose Market and are profiled in MRFR Analysis.
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Nitrocellulose Market Segmentation:
Nitrocellulose or cellulose nitrate is one of the prominent film formers known for the coatings, ink, film, and adhesive sector. Nitrocellulose market is estimated to witness strong growth due to its significant usage in automotive as well as printing ink application. Among application, printing ink accounted for the largest market share in 2018 and is estimated to retain its dominance over the forecast period on account of technological advancement. Furthermore, increasing use of nitrocellulose-based ink in flexography and gravure painting due to its high quality and durable color paint is predicted to fuel the demand for nitrocellulose market.
Nitrocellulose Market Regional Analysis:
Geographically, Asia Pacific emerged as the largest market for Nitrocellulose followed by North America and Europe in 2016. The Asia Pacific region dominated the global nitrocellulose market share in 2016 and is predicted to witness highest CAGR owing to continuous growth of automotive and furniture industries specifically in China, India, Japan, Taiwan, Vietnam, Thailand, Malaysia, and South Korea.
Additionally, the growth of nitrocellulose is largely driven by their utilization in leather tanneries and automotive industries. The furniture industry across the globe has witnessed a tremendous growth in the past few years and is predicted to carry same trend over the assessment period which in turn is expected to propel the growth of the market over the estimated period. Furthermore, growing investment by major operating companies and shifting of nitrocellulose manufacturing units as well as end use industries growth in this region is expected to propel the nitrocellulose regional market growth.
Nitrocellulose Market Competitive Landscape:
The Nitrocellulose report analyses the degree of competition among the major players as well as industry growth and market scenario. The global Nitrocellulose market comprises of numerous players operating in the market which include large scale and medium size manufacturers. The prominent market players operating in the global Nitrocellulose industry is focusing towards growth association specifically by Asia Pacific as medium scale and small-scale producers are from this region specifically from China, South Korea, India, Malaysia, and Japan.
Furthermore, the company is focusing on extending their product portfolio by strategic acquisition and mergers, joint ventures, product launches, and exclusive agreements. Some of the companies are expanding their production capacity of Nitrocellulose to meet the growing demand for Nitrocellulose.
Nitrocellulose Market Table of Content to be Continue…….,
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