Nitrocellulose Market Outlook, Developments and Future Trends Report 2024

Felton, California , USA, Oct 22, 2020 — /EPR Network/ — The Nitrocellulose Market report discusses the primary market growth drivers and challenges that the vendors and the market as a whole face and provides an overview of the key trends emerging in the market. It also talks about the market size of different segments and their growth aspects along with key leading countries in Americas, Asia-Pacific, Europe, the Middle East, and Africa regions.

Global Nitrocellulose Market is likely to reach USD 1.05 billion by 2024 and it is anticipated to witness an exponential growth in the forecast period. Nitrocellulose is also termed as “Cellulose nitrate”, an extremely inflammable compound produced by nitrating cellulose by exposure to nitric acid or the other powerful nitrating agents. Nitrocellulose, when used as a low-order propellant, is termed as “Guncotton”.

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Some of the major objectives of this report:

  1. To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the global Nitrocellulose Market.
  2. To provide insights about factors affecting the market growth. To analyze the Nitrocellulose Market based on various factors- price analysis, supply chain analysis, porter five force analysis etc.
  3. To provide historical and forecast revenue of the Nitrocellulose Market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World.
  4. Country level analysis of the market with respect to the current market size and future prospective.
  5. To provide country level analysis of the market for segment by application, product type and sub-segments.
  6. To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
  7. Track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the global Nitrocellulose Market.

The factors that propel the growth of the nitrocellulose market include an abundance of cellulose and growth of nitrocellulose, increasing application scope in leather, printing, automotive and furniture businesses, increasing printing usage mainly in e-commerce and packaging industries. On the other hand, there are factors that may hamper the growth of the market including growing digitization causing a reduction in printing ink usage and increasing computer use. Nitrocellulose industry is anticipated to expand at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe.

The new trend gaining momentum in the market is the increasing acceptance of natural wood coating technology. Over the past few years, vendors in the chemical industry have been focusing on sustainable procedures that have a negligible impact on the environment. The growth of environment-friendly products supports vendors to increase a competitive edge. R&D activities related to raw materials offer enough development opportunities to vendors.

Nitrocellulose market could be explored by product type, application, and geography. The market could be explored by product type as E grade cellulose, M grade cellulose, and others. The “M grade cellulose” segment led the nitrocellulose industry in 2017 and is anticipated to maintain its dominance by 2024. The key factors that may be attributed to the growth of market includes it is extremely used in consumer products such as emulsifier and thickener in lubricants in nutritional supplement capsules and others.

The key applications that could be explored in the nitrocellulose market include Nail Varnish, Automotive Paints, Leather Finishes, Printing Inks, and Wood Coatings. The “Wood Coatings” segment led the nitrocellulose industry in 2017 and is anticipated to maintain its dominance by 2024. The key factors that may be attributed to the growth of the market includes growing residential construction activities and extensive scope during the production procedure of wood coatings. Wood coatings segment is followed by Automotive Paints segment.

Some of the key players that fuel the growth of the nitrocellulose industry comprise Hagedorn, Tembec, Manuco, DowDuPont, Nitro Química, Synthesia, Eurenco, Jiangsu Tailida Group, HENGSHUI ORIENT CHEMICAL CO., Nitro Chemical Industry, Nitrex Chemicals India, T.N.C. INDUSTRIAL and Nitrochemie. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.

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