Nitrocellulose Market Overview: —
Global Nitrocellulose market is estimated to reach approximately USD 950 Mn by 2022, after expanding at a CAGR of % from 2018 to 2022.
Additionally, the global leather industry is decreasing on account of changing consumer preference for cheaper leather alternatives. Increasing usage in sealants and adhesives along with rising building & construction activities is predicted to fuel the demand for nitrocellulose market over the estimated period.
Some of the factors which hamper the growth of nitrocellulose are change in price of raw materials and strict regulations of government for usage of nitrocellulose.
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Nitrocellulose Market Key Players:
Nitrocellulose Market are Atomax Chemicals Co., Ltd., Nitro Quimica, Hubei Xuefei Chemical, Hengshui Orient Chemical Co., Ltd., Nobel NC, IVM Chemicals, Synthesia, antong Tailida Chemical Co., Ltd., and Nitro Chemical Industry Co., Ltd.
Nitrocellulose Market Segmentation:
Nitrocellulose Market is mainly segmented on the basis of product and applications. Based on the type, the market is again segmented into M grade cellulose, E grade cellulose and others. On the basis of Application, the market is classified into Printing inks, automotive paints, wood coatings, leather finishes, nail varnishes and others.
By Application: Printing inks, automotive paints, wood coatings, leather finishes, nail varnishes and others
Nitrocellulose Market Regional Analysis:
Asia-Pacific countries will further increase the demand for nitrocellulose. The increase in demand for food grains in Brazil, Russia, India, China and South Africa will boost the market Growth; steady growth is seen in North America and Europe. Increase in disposable income and change in consumer’s lifestyle has boosted the market of food grains, cosmetics and electronics which indirectly increase the market of nitrocellulose.
North American market is expected to witness steady growth due to increasing demand for aesthetic design furniture in commercial as well as in residential spaces, which in turn is estimated to drive the consumption of nitrocellulose in the upcoming years. Europe is estimated to witness moderate growth on account of rising demand from automotive sector. Furthermore, strict regulations regarding the storage and usage of this product has led to increase the innovation and development in this sector.
Middle East & African market is expected to register strong growth on account of increasing construction and leather finishing industries present in Qatar, Turkey, the United Arab Emirates, and Saudi Arabia. Market in Latin American countries such as Brazil and Argentina are predicted to register healthy growth on account of rising demand for cosmetics items.
Nitrocellulose Market Table of Content:
1 Executive Summary
2 Scope of The Report
3 Market Research Methodology
4 Market Landscape
5 Industry Overview of Global Nitrocellulose Market
Nitrocellulose Market Table of Content to be Continue…….,
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Release ID: 506592