Nitrocellulose Market Reach $1.05 Billion, Rapid Growth and Trend, by 2024: Grand View Research, Inc.

Posted on 2018-09-27 by researchinsights in Chemicals, Consumer Services, Industrial // 0 Comments

San Francisco, United States, 2018-Sep-27 — /EPR Network/ — The global nitrocellulose market is expected to reach USD 1.05 billion by 2024, according to a new report by Grand View Research, Inc. Varied applications across numerous end-use industries are expected to drive the global market.

Nitrocellulose based printing inks are applied in gravure and flexography printing applications. There has been a rise in printing ink applications in the recent past and is expected to have a positive impact on the market growth.

Physical properties such as better adhesion and non-reactivity to other paints are expected to compliment the overall demand. Nitrocellulose, when added to inks or coatings imparts special characteristics such as excellent adhesion, superior drying properties, and high solubility.

Governments across the globe have issued several regulations and imposed various mandatory policies for importers to obtain import license for the trade of this product with an aim to safeguard public interest and prevent any misuse of this substance.

Industrial nitrocellulose is categorized as a hazardous substance and is thus exposed to a host of regulations related to explosive substances. Such a categorization leads to more precautionary measures and a higher related cost. However, growing industrialization is expected to create ample opportunities for industry expansion.

Browse Research Report on Nitrocellulose Market: www.grandviewresearch.com/industry-analysis/nitrocellulose-market

Further key findings from the report suggest:

The global nitrocellulose market demand was 189.2 kilo tons in 2015 and is expected to reach 312.5 kilo tons by 2024, growing at a CAGR of 5.7% from 2016 to 2024
Demand in wood coatings industry is expected to account for over 20% of the total market in 2024. Nitrocellulose-based paints are preferred over conventional products owing to their superior characteristics. Such properties make these paints suitable for furniture coating applications.
Asia Pacific emerged as the leading regional market and accounted for over50% of global demand in 2015. China is the largest consumer of nitrocellulose as a major raw material for its varied end-use industries. The growth of printing inks industry in China is expected to drive the regional market over the forecast period.
Key companies in the industry include Abu Zaabl Co. for Specialty Chemicals, Atomax Chemicals Co., Ltd, Dow Wolff Cellulosics GmbH, TNC Industrial Co., Ltd, Nitrochemie AG, Sichuan North Nitrocellulose Corporation and Hagedorn NC. Government restrictions in a certain region may interrupt the growth opportunities for the market players.

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Grand View Research has segmented the global nitrocellulose market based on application and region:

Global Nitrocellulose Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2024)

Printing inks
Automotive paints
Wood coatings
Leather finishes
Nail Varnishes
Others

Global Nitrocellulose Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2024)

North America
- US
- Canada
Europe
- Germany
- UK
- Italy
- Turkey
- France
- Spain
- Austria
- Russia
Asia Pacific
- China
- India
- Japan
- Thailand
- Vietnam
- Malaysia
- Indonesia
- Taiwan
Middle East & Africa
- South Africa
- Egypt
- UAE
Latin America
- Brazil
- Argentina
- Peru
- Colombia
- Chile
- Mexico

Access Press Release of This Research Report by Grand View Research: www.grandviewresearch.com/press-release/global-nitrocellulose-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials, and healthcare.

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