The global nitrocellulose market size estimated at USD 795 million in 2018 and will expect consumption of over 305 kilo tons by 2026.
Changing fashion trends and rising consumer expenditure on high quality clothing has surged the demand for comfortable, multifunctional apparels & footwear which is likely to enhance nitrocellulose market value. Leather products require high gloss or matte finishes to enhance their appearance and to provide protection against heat and moisture, which helps the cellulose nitrate industry.
Higher levels of nitrocellulose in nail varnishes, one of its major applications, contribute to a more flexible film which improves the durability of the end-use product. Nail polish sales were over USD 565 million in 2018, accounting for almost 50% of nail products market in the U.S., which shows favorable trend for nitrocellulose market. North America nail varnish market may spur at over USD 25 million up to 2025.
Ongoing development of automotive industry in European region has boosted the demand for high quality auto paints, another important application of nitrocellulose. Europe automotive paints market valued over USD 40 million in 2018.
Cellulose nitrate in automotive paints offers a glossy finish to automobiles, imparts optimum functionality & flexibility and fast drying properties. These high-performance paints have low volatile organic compound in comparison to traditional oil based paints which enhances their durability. In addition, companies are focusing on development of automotive paints that are eco-friendly owing to rising concerns over toxic gases emissions which may favor market demand of nitrocellulose.
The nitrocellulose companies are concentrating towards new product development. Manufacturers are also indulged in joint ventures and partnerships to reinforce their product portfolio. Some key players include DuPont Specialty Solutions, Hebei Sanmu Cellulose, EURENCO, Nitrex Chemicals India and Nitro Quimica.
The report analyzes and forecasts the nitrocellulose market at global and regional levels. The market has been forecast based on volume (Tons) and value (US$ Mn) from 2019 to 2026. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report comprises a detailed value chain analysis, which provides a comprehensive view of the global nitrocellulose market. The Porter’s Five Forces model has also been included to help understand the competitive landscape of the market. The study encompasses market attractiveness analysis, wherein various applications have been benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the nitrocellulose market by segmenting it in terms of form and application. The segment has been analyzed based on the present and future trends. Regional segmentation includes the current and projected demand in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The report provides size (in terms of volume and value) of nitrocellulose market for the base year 2018 and the forecast between 2019 and 2026. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
The main objective of this report is to aid the user in understanding the market as a whole, its definitions, segmentation, market potential, influential trends, and the barriers that it is facing. Meticulous research and analysis were an important part of the report preparation. Those reading the report will be able to get a detailed understanding about the market. Industry experts have verified and checked the data and information that have been taken from credible sources like websites, annual reports of companies, journals, and other resources. In order give the facts and data a pictorial form, diagrams, graphs, pie charts, and other representations have been used. That augments the visual appeal of the report and makes understanding it much easier.
Several major players are involved in various strategic collaborations to enhance their market presence and gain a competitive edge in the industry. Global nitrocellulose industry share is fragmented including Dow Wolff Cellulosics, Nitro Quimica, IVM Chemicals, Nitro Chemical Industry, Nitro Chemical Industry Co., Ltd., Nitrex Chemicals India Pvt. Ltd. and TNC Industrial Co., Ltd.
Key financial developments of a particular company and product & company overview are some of the elements that help in acquiring information about top vendors in the market. This particular section has also included a SWOT analysis of the companies featured in the report. This will help the audience in knowing about opportunities, strengths, threats and weaknesses that are facing by the key vendors in the chemical and material industry across the world. As the competitive landscape is the most valuable part of any report, it consists of all the required information for the detailed study of top players functioning in the industries. It is also an interesting part to find how exactly these key manufacturers implement various strategies to secure the top rank in the industry. Such an in-depth information is useful for the new entrants into the industry as they would be able to learn a bit from these key vendors. Similarly, the information provided in the research report will also be valuable for the renowned key players as well, as they come to know the strategies of their counterparts to sustain in the competitive industry.
In February 2017, Nitro Quimica launched its new product brand structure for nitrocellulose along with expansion of its products and service portfolio. This initiative will enhance nitrocellulose and derivatives product portfolio inks & varnishes applications. Furthermore, the company has been investing nearly 2% of its annual revenue on R&D to enable development of new products.
In June 2016, Nitro Quimica Corporation announced the acquisition of Alchemix Corporation, a producer of nitrocellulose-based solutions for dermatological products. This acquisition will enable the expansion of the company’s product portfolio and strengthen its participation in the North America market.
In July 2016, Nippon Paint India partnered with cellulose based manufacturer, IVM Chemicals to promote its wood coating products based on Japanese technology. This partnership will promote Nippon Paint’s existing coating products and IVM chemical brands in India.
The above information has been provided for the following regions and countries:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Annual reports, press releases, and relevant documents of key players operating in various application areas have been reviewed for competition analysis and market understanding.
Secondary research also includes recent trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. These have proved to be reliable, effective, and successful approaches for obtaining precise market data, capturing market participants’ insights, and recognizing business opportunities.
The study objectives of this report are:
Global Powder Coatings Market Size, Share, Growth, Trends, Company Analysis and Forecast 2019-2026Read more...
Global Nitrocellulose Market Size, Share, Growth, Trends, Company Analysis and Forecast 2019-2026Read more...
Global Textile Printing Machine Market Size, Share, Growth, Trends, Company Analysis and Forecast 2019-2026Read more...
Global Green Coatings Market Size, Share, Growth, Trends, Company Analysis and Forecast 2019-2026Read more...
Global Precast Construction Market Size, Share, Growth, Trends, Company Analysis and Forecast 2019-2026Read more...