According to Acumen Research and Consulting, the global Nitrocellulose market is expected to grow at noteworthy CAGR around 6 % throughout the forecast period and reach around US$ 1.2 billion by 2026.
Nitrocellulose is a compound that is highly inflammable produced by cellulose, nitric acid, or other strong nitrate agents. Nitrocellulose is referred to as guncotton when used as a low-command explosive or propellant. In addition, it can also be used as a plastic film as well as in wooden coatings and ink printing when cellulose is not fully nitrated. Nitrocellulosis is expected to grow on the global market over the next six years, from a variety of applications, such as explosive products, printing tins, wood coatings and plastic films throughout the world.
The report provides analysis of global Nitrocellulose market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.
Increasing nitrocellulose-based inks are expected to have a positive influence on market economic growth in the coating and paint industries in emerging economies including China, Vietnam and Colombia. Guncotton is a highly flammable compound and is subject to strict regulations for its use and storage. They occur if the nitrating acid is used as a propellant or low-order explosive for cellulose reaction. Because of their use in fertilizer production, nitric acid and sulfuric acid are expected to be highly expanded. Cellulose nitrate production includes costs of raw equipment, utilities, maintenance and repairs, labor, land leasing, transport and aids such as depreciation and financing. A major share of the cost of production is made up of raw material.
Other costs include pre-operational expenditure and operating capital, apart from capital / fixed investment. Installation, set-up, capitalized interest, engineering & management and commissioning expenses are included. The ink sector is driven by technological developments and an increase in eco-friendly ink consumption. Printing and flexographic product usage offers high quality and long-lasting painting. In any material like plastics, metallic movies, paper and many other materials, flexographic imprints can be used. Engraving images on cylindrical bases is used for printing, most used in rotary presses.
Due to the superior properties, such as fast drying, good adhesion and easy application, these tints are preferred over other products. The substance is used for both military and civil applications with a nitrogen content of approximately 12.6 percent. Several regulations on hazardous substance disposal due to adverse health effects and high inflammability can hinder growth on the market. Several governments have issued strict regulations to prevent misuse and to protect the public interest. Brazil, for example, has prohibited imports into the country of this product to prevent misuse.
Due to increased residential construction activities, wood coatings emerged as the second largest application segment. During the production process wood coating the product has a wide range. In various other color applications, cellulose wood coating based on nitrate, such as sap stains, fillers, overall stains and toners, can also be used. The wood cover is used for sliding doors and windows, furniture coverings, etc. In recent years, rapid development in the furniture sector and high demand are projected to complement the growth in the segment over the predicted years.
Improvement of living standards has increased the need for furniture which will also help growth. The most commonly-used ingredient in manufactures of musical instruments is the nitro cellulose-based lacquered wood coating as finishing agents for guitars, mandolins and banjos made from steel strings. Multi-layered automotive coloring enhances the aesthetic and protects against scratches, ultraviolet rays, corrosion, oxidation and acid rains. Thinners, pigments, and binders are the key ingredients used for manufacturing automotive paints. High solid content and low organic volatility (VOC) compounds in automotive paints.
The cellulose nitrate in this application segment is driven by these factors. Guncotton is used in nail varnishes due to safety concerns under regulatory pressure. Guncotton has also been exposed for the transportation and packaging of harmful substances under a number of other regulations. These rules are in accordance with United Nations (UN) standards and the international rules laid down by them. However, the worldwide expanding cosmetics industry is likely to increase product consumption over the predicted period due to the demand for nail lacquer applications.
High-performance cotton is also used in disposable medical equipment and mining. It is also regarded for various exceptional features as an ideal solution in artificial jewelry. Some other major applications include pharmaceutical, sealants and artificial jewelry. In recent years, rapid growth in stickers and sealants has influenced market growth positively. Cellulose nitrate-produced adhesive has superior properties, such as prolonged shelf life and resistance to weather. However, due to the emergence of substitutes, the cellulose nitrate industries have experienced a slowdown in recent years.
Asia Pacific was the world's leading consumer, representing more than 45% in 2018. The major producers and importers of celluloses material in the region are emerging economies, such as India, Thailand and China. In these countries the trade and use of cellulose nitrate is high as a result of the increasing demand of end-use industries, including printing inks, automotive paints, wooden layers and leather tanning and finishing.
In order to reduce the production costs, many producers also move their production bases to this region. These companies benefit both from cheaper labor and from low cost commodities. These companies benefit. China has become the most important raw material user of nitrocellulose. A major factor contributing to product demand is the rapid expansion of Printing Ink industry in the country.
Asia Pacific is followed by Europe, representing 20.21 percent of global volumes in 2018 and emerged as the second largest regional market. The growth markets in the Asia Pacific and Latin America are however expected to lose their share. Due to increasing demand for coating applications, Brazil and Mexico generate substantial revenues in the Region of Latin America. The growth in the Automotive Lacquered and Wood Coatings industries in North America from 2019 to 2026 is also expected.
Global Nitrocellulose Market, By Application
Global Nitrocellulose Market, By Geography
The market research study on “Nitrocellulose Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers detailed insights on global Nitrocellulose market segments with market dynamics and their impact. The report also covers basic technology development policies.
The report provides an analysis of the latest industry trends from 2015 to 2026 in all sub-segment segments and forecasts revenue and volume growth on the global, the regional and country levels.
Key Players & Strategies
Atomax Chemicals Co. is one of the major business members. Others include Nitro Quimica, TNC Industrial Co. Ltd, Bergerac N.C., Abu Zaabal Co. Hagedorn NC, Nitrex Chemicals India Pvt., Dow Wolff Cellulosics Gmbh HG, Ltd. These businesses are investing more in R&D to create sustainable feedstock effective goods. Furthermore, companies strive to reach a competitive advantage on certain variables, such as scale savings, innovations, prices and operating costs.
The sector is subject to numerous laws that govern its production procedures and the use of apps in different end-use sectors. Several bodies have established numerous directives on the processes of transport, production and disposal. The companies focus on extending their portfolio to respond to growing demand and to compete with current multinational companies. Nitrex Chemicals India Pvt, for instance, in March 2004. In order to grow their brand portfolio, India cellulose nitrate company Ltd. has bought the Imperial Chemical Industries (ICI).
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