Market Research Future Published a Study Research Report on Nitrocellulose Market Research Report- Forecast to 2022
Nitrocellulose Market Overview:
According to the reports published by Market Research Future Reports, the global nitrocellulose market is set to proliferate by approximately USD 950 million by 2022. Nitrocellulose is known as guncotton and is a highly inflammable compound. Generally, nitrocellulose is added to inks or used for coatings and imparts unique characteristics such as excellent adhesion, superior drying properties, and high solubility.
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.
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Moreover, it finds wide application usage in nail varnishes which is ultimately utilized in cosmetic industry. Increasing per capita disposable income in developed and developing region along with increasing use of cosmetic item is estimated to drive the market growth. Furthermore, increasing vehicle manufacturing combined with demand for safety features is attributed to the growth of automotive market, which in turn is estimated to drive the demand for Nitrocellulose. In addition, leather materials are commonly coated with nitrocellulose induced leather finishes which protect it from heat and moisture and enhance durability. 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.
Nitrocellulose Market Key Players:
Atomax Chemicals Co., Ltd., Nitro Quimica, Hubei Xuefei Chemical, Hengshui Orient Chemical Co., Ltd., Nobel NC, IVM Chemicals, Synthesia, 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.
Nitrocellulose Market Segmentation:
In the reports by MRFR, the global nitrocellulose market has been segmented based on the product, application, and region for the forecasted period 2018 to 2022.
Segmentation by product, the market is categorized as M grade cellulose, E grade cellulose, and others. In M grade cellulose, nitrocellulose is highly applied in consumer products such as thickener and emulsifier in lubricants in nutritional supplement capsules and others.
Based on application, the global nitrocellulose market is segmented into printing inks, automotive paints, wood coatings, leather finishes, nail varnishes, and others. Out of which, print inking inks is driven by technology advancement and eco-friendly inks and is the largest application industry of nitrocellulose market. While automotive paints are the second largest segment in Nitrocellulose, on the other hand, wood coating manufacturing process also highly utilize nitrocellulose, as it has the ability to coat multiple time and it is user-friendly. Due to these factors’ nitrocellulose is expected to witness significant growth in the forecasted period.
Nitrocellulose Market Regional Analysis:
On a geographical note, Asia-Pacific region leads the nitrocellulose market in terms of both, volume and value, which is expected to proliferate significantly at a higher CAGR by 2022. In the Asia Pacific, China has been a significant revenue generating country owing to growing end-user industry and an increase in the consumption rate of chemicals by manufacturers. Also, substantial expansion scope in the automotive industry in India, South Korea & Taiwan, and leather industries in Vietnam may enhance the market growth. Besides, a surge in personal care and cosmetic products demands from the middle-class population may also stimulate the global nitrocellulose market substantially.
Nitrocellulose Market Table Of Contents to be Continue…….,
Browse key industry insights spread across 140 pages with 34 market data tables & 11 figures & charts from the report, “Nitrocellulose Market Information: by Product (M grade cellulose, E grade cellulose and others), Application (Printing inks, automotive paints, wood coatings, leather finishes, nail varnishes and others) and Region – Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022” in detail along with the table of contents @ https://www.marketresearchfuture.com/reports/nitrocellulose-market-2092
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