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Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand f.....
Nitrocellulose Market size was valued at US$ 834.1 million in 2023 and is poised to grow at a CAGR of 5.2% from 2024 to 2030. The nitrocellulose market is expected to witness steady growth, driven by several factors, increasing demand in end-use industries, and growing demand for automotive paints, nitrocellulose is an eco-friendly alternative to some traditional solvents used in paints and coatings. This, coupled with growing awareness of environmental regulations, is expected to increase the demand for nitrocellulose in the coming years. Despite the promising growth potential, the nitrocellulose market also faces some challenges, with an availability of substitutes, and nitrocellulose is a highly flammable and explosive material, there is a significant growth opportunity for the exploration of new application areas for nitrocellulose, in bioplastics and pharmaceuticals.
Study Period
2024-2030Base Year
2023CAGR
5.2%Largest Market
North AmericaFastest Growing Market
Asia Pacific
The increasing demand for automotive paints for automobiles is a preferred component in automotive paints due to its quick-drying properties, good adhesion, and ease of application, and rising demand in various industries, including printing inks, paints & coatings, leather finishing, and celluloid films. The increasing demand for these products, particularly in the Asia Pacific region due to rapid industrialization, and also increase in the awareness of environmental regulations is driving the growth of the nitrocellulose market. Advancements in production technologies are leading to the development of new and improved grades of nitrocellulose with enhanced properties. This can open up new application areas for the product such as in bioplastics and pharmaceuticals, and can create significant growth opportunities. However, the market faces challenges from the highly flammable nature of the product and the availability of substitutes. Manufacturers will need to focus on developing sustainable production processes and exploring new application areas to ensure the long-term growth of the market.
Based on regions, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. Asia Pacific stands out as the undisputed leader, holding a dominant share of the market, due to emerging economies like China, India, and Thailand witnessing a surge in demand for nitrocellulose across various end-use industries, China's market is anticipated to witness significant expansion due to its rapidly growing industrial sector. North America is anticipated to experience growth in the nitrocellulose industry, and Europe's growth is expected to be moderate, The LAMEA market holds a small portion share in the nitrocellulose market, Brazil and South Africa are the major consumers in this region, with demand driven by the growing printing and paints & coatings industries.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 834.1 million |
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Market CAGR |
5.2% |
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By Product |
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By Application |
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By Region |
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The nitrocellulose market size was valued at US$ 834.1 million in 2023 and is expected to grow at a CAGR of 5.2% from 2024 to 2030.
Nitrocellulose Group, Hagedorn AG, DuPont de Nemours Inc, GRN Cellulose Pvt.Ltd, Eurenco, Nitro Quimica, North Sichuan Nitrocellulose Corporation, Synthesia a.s., TNC Industrial Co. Ltd, Hubei Xufei Chemical Co. Ltd., IVM Chemicals srl, Nitrex Chemicals India Ltd, Nitro Chemical Industry Ltd, Rayonier Advanced Materials, and Rheinmetall AG
Asia-Pacific is the dominant market in the nitrocellulose market.
| 1. Executive Summary |
| 2. Global Nitrocellulose Market Introduction |
| 2.1. Global Nitrocellulose Market Taxonomy |
| 2.2. Global Nitrocellulose Market Definitions |
| 2.2.1. Product |
| 2.2.2. Applications |
| 2.2.3. Region |
| 3. Global Nitrocellulose Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Global Nitrocellulose Market Dynamic Factors - Impact Analysis |
| 3.6. Impact of COVID 19 on The Market |
| 3.7. Three Forecast Scenarios - Pessimistic, Conservative and Opportunistic |
| 3.8. Mapping Market Players Activities |
| 3.9. Recent Key Developments |
| 3.10. Financial Status of the Market Players |
| 3.11. Recent Acquisitions, Collaborations and Mergers |
| 4. Global Nitrocellulose Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Million) |
| 4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Nitrocellulose Market Forecast, By Product, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Million) |
| 5.1. M Grade Cellulose |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Million) |
| 5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. E Grade Cellulose |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Million) |
| 5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 6. Global Nitrocellulose Market Forecast, By Applications, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Million) |
| 6.1. Printing inks |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Million) |
| 6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Automotive paints |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Million) |
| 6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Wood coatings |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Million) |
| 6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Leather finishes |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Million) |
| 6.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Nail Varnishes |
| 6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Million) |
| 6.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 6.6. Others |
| 6.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Million) |
| 6.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.6.3. Market Opportunity Analysis |
| 7. Global Nitrocellulose Market Forecast, By Region, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Million) |
| 7.1. North America |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Million) |
| 7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Europe |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Million) |
| 7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Asia-Pacific |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Million) |
| 7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Latin America |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Million) |
| 7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Middle East and Africa |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Million) |
| 7.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 7.6. Global Nitrocellulose Market - Opportunity Analysis Index, By Product, Application and Region, 2024 - 2030 |
| 8. North America Nitrocellulose Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Million) |
| 8.1. Product Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Million), Y-o-Y Growth (%) and Market Share (%) |
| 8.1.1. M Grade cellulose |
| 8.1.2. E Grade Cellulose |
| 8.1.3. Others |
| 8.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Million), Y-o-Y Growth (%) and Market Share (%) |
| 8.2.1. Printing inks |
| 8.2.2. Automotive paints |
| 8.2.3. Wood coatings |
| 8.2.4. Leather finishes |
| 8.2.5. Nail Varnishes |
| 8.2.6. Others |
| 8.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Million) Y-o-Y Growth (%) and Market Share (%) |
| 8.3.1. U.S. |
| 8.3.2. Canada |
| 8.4. North America Nitrocellulose Market - Opportunity Analysis Index, By Product, Application, and Country, 2024 - 2030 |
| 8.5. North America Nitrocellulose Market Dynamics Trends |
| 9. Europe Nitrocellulose Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Million) |
| 9.1. Product Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Million), Y-o-Y Growth (%) and Market Share (%) |
| 9.1.1. M Grade cellulose |
| 9.1.2. E Grade Cellulose |
| 9.1.3. Others |
| 9.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Million), Y-o-Y Growth (%) and Market Share (%) |
| 9.2.1. Printing inks |
| 9.2.2. Automotive paints |
| 9.2.3. Wood coatings |
| 9.2.4. Leather finishes |
| 9.2.5. Nail Varnishes |
| 9.2.6. Others |
| 9.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Million) Y-o-Y Growth (%) and Market Share (%) |
| 9.3.1. Germany |
| 9.3.2. UK |
| 9.3.3. France |
| 9.3.4. Italy |
| 9.3.5. Spain |
| 9.3.6. Rest of Europe |
| 9.4. Europe Nitrocellulose Market - Opportunity Analysis Index, By Product, Application, and Country, 2024 - 2030 |
| 9.5. Europe Nitrocellulose Market Dynamics Trends |
| 10. Asia-Pacific Nitrocellulose Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Million) |
| 10.1. Product Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Million), Y-o-Y Growth (%) and Market Share (%) |
| 10.1.1. M Grade cellulose |
| 10.1.2. E Grade Cellulose |
| 10.1.3. Others |
| 10.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Million), Y-o-Y Growth (%) and Market Share (%) |
| 10.2.1. Printing inks |
| 10.2.2. Automotive paints |
| 10.2.3. Wood coatings |
| 10.2.4. Leather finishes |
| 10.2.5. Nail Varnishes |
| 10.2.6. Others |
| 10.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Million) Y-o-Y Growth (%) and Market Share (%) |
| 10.3.1. Japan |
| 10.3.2. China |
| 10.3.3. India |
| 10.3.4. ASEAN |
| 10.3.5. Rest of Asia-Pacific |
| 10.4. Asia-Pacific Nitrocellulose Market - Opportunity Analysis Index, By Product, Application, and Country, 2024 - 2030 |
| 10.5. Asia-Pacific Nitrocellulose Market Dynamics Trends |
| 11. Latin America Nitrocellulose Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Million) |
| 11.1. Product Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Million), Y-o-Y Growth (%) and Market Share (%) |
| 11.1.1. M Grade cellulose |
| 11.1.2. E Grade Cellulose |
| 11.1.3. Others |
| 11.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Million), Y-o-Y Growth (%) and Market Share (%) |
| 11.2.1. Printing inks |
| 11.2.2. Automotive paints |
| 11.2.3. Wood coatings |
| 11.2.4. Leather finishes |
| 11.2.5. Nail Varnishes |
| 11.2.6. Others |
| 11.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Million) Y-o-Y Growth (%) and Market Share (%) |
| 11.3.1. Brazil |
| 11.3.2. Argentina |
| 11.3.3. Rest of Latin America |
| 11.4. Latin America Nitrocellulose Market - Opportunity Analysis Index, By Product, Application, and Country, 2024 - 2030 |
| 11.5. Latin America Nitrocellulose Market Dynamics Trends |
| 12. Middle East and Africa Nitrocellulose Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Million) |
| 12.1. Product Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Million), Y-o-Y Growth (%) and Market Share (%) |
| 12.1.1. M Grade cellulose |
| 12.1.2. E Grade Cellulose |
| 12.1.3. Others |
| 12.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Million), Y-o-Y Growth (%) and Market Share (%) |
| 12.2.1. Printing inks |
| 12.2.2. Automotive paints |
| 12.2.3. Wood coatings |
| 12.2.4. Leather finishes |
| 12.2.5. Nail Varnishes |
| 12.2.6. Others |
| 12.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Million) Y-o-Y Growth (%) and Market Share (%) |
| 12.3.1. Saudi Arabia |
| 12.3.2. GCC Countries |
| 12.3.3. South Africa |
| 12.3.4. Rest of MEA |
| 12.4. MEA Nitrocellulose Market - Opportunity Analysis Index, By Product, Application, and Country, 2024 - 2030 |
| 12.5. MEA Nitrocellulose Market Dynamics Trends |
| 13. Competition Landscape |
| 13.1. Strategic Dashboard of Top Market Players |
| 13.2. Company Profiles (Introduction, Financial Analysis, Product Offerings, Key Developments, Strategies, and SWOT Analysis) |
| 13.2.1. EURENCO |
| 13.2.2. GRN Cellulose Pvt. Ltd. |
| 13.2.3. Hagedorn NC |
| 13.2.4. Hengshui Orient Chemical Co., Ltd. |
| 13.2.5. International Flavors & Fragrances Inc. (IFF) |
| 13.2.6. Nitrex Chemicals India Pvt. Ltd. |
| 13.2.7. Nitrocellulose Group |
| 13.2.8. Nitro Quimica |
| 13.2.9. North Sichuan Nitrocellulose Corporation |
| 13.2.10. Synthesia a.s. |
| 13.2.11. TNC Industrial Co. Ltd |
| 13.2.12. Others |
| 14. Research Methodology |
| 15. Key Assumptions and Acronyms |
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.