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2021

Nitrocellulose Market

Nitrocellulose Market Size, Share, Competitive Landscape and Trend Analysis Report by Product (M Grade cellulose, E Grade Cellulose, and Others) and Application (Printing Inks, Automotive Paints, Wood Coatings, Leather Finishes, Nail Varnishes, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027

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Author's: Snehal Mohite| Rutuja Danekar | Eswara Prasad
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Nitrocellulose Market Outlook - 2020–2027

The global nitrocellulose market size was valued at $0.8 billion in 2019, and is projected to reach $1.2 billion by 2027, growing at a CAGR of 5.5% from 2020 to 2027.

Nitrocellulose is a highly flammable compound made from cellulose, nitric acid, or other heavy nitrate compounds. Nitrocellulose is referred to as guncotton when used as a low-command explosive or propellant. If cellulose is not completely nitrated, it can also be used as a plastic film, as well as in wooden coatings and ink printing. Over the next six years, the global demand for nitrocellulose is expected to develop due to a range of applications, including explosives, printing tins, wood coatings, and plastic films.

Nitrocellulose-Market-2020-2027

Manufacturers have been urged to revise their paints and coatings formulations to meet evolving regulatory requirements, which is expected to foster the nitrocellulose market development. Furthermore, changes in fashion trends and increase in customer spending on high-quality clothing fuel the demand for comfortable, multifunctional apparel, and footwear, which is expected to boost the growth of the nitrocellulose market. Furthermore, high gloss or matte finishes are needed for leather products to enhance their appearance and provide protection against heat and moisture, which benefits the cellulose nitrate industry.

Governments around the world, on the other hand, have released a slew of legislation and policies requiring importers to obtain an import license for the sale of this commodity to protect the public's interest and avoid any misuse of the material. Industrial nitrocellulose is categorized as a hazardous substance and is thus exposed to a number of regulations related to explosive substances. As a consequence of this classification, more precautionary steps are taken, and the resulting cost is higher. Furthermore, increase in industrialization is projected to open up a variety of new business opportunities.

The global nitrocellulose market is segmented into product, application, and region. By product, the market is divided into M grade cellulose, E grade cellulose, and others. On the basis of application, it is differentiated into printing inks, automotive paints, wood coatings, leather finishes, nail varnishes, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The major players operating in the global nitrocellulose market include EURENCO, GRN Cellulose Pvt. Ltd., Hagedorn NC, Hengshui Orient Chemical Co., Ltd., Nitrex Chemicals India Pvt. Ltd., Nitrocellulose Group, Nitro Quimica, North Sichuan Nitrocellulose Corporation, Synthesia a.s., and TNC Industrial Co. Ltd.

Nitrocellulose market, by product

The M grade cellulose segment held a significant share in the nitrocellulose market in 2020. It is commonly used in consumer products as a thickener and emulsifier in lubricants, dietary supplement capsules, and other applications. The demand for emulsifier from the automotive and aerospace industries is on the rise. As a result, demand for M grade cellulose is expected to rise significantly during the forecast period, propelling the growth of the nitrocellulose market. 

Nitrocellulose Market
By Product
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M Grade cellulose is projected as the most lucrative segment.

Nitrocellulose market, by application

The wood coatings segment accounted for the largest share of the nitrocellulose market in 2019. Rapid development in the furniture sector and high demand are projected to complement the growth in the segment over the predicted years.

Nitrocellulose Market
By Application
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Wood coatings is projected as the most lucrative segment.

Nitrocellulose market, by region

Due to increased automotive production in the region, the Asia-Pacific region held the largest share of the nitrocellulose market in 2020, up to 53.6%. Automotive paints based on nitrocellulose improve the aesthetic appearance while also protecting against cracks, UV rays, rust, oxidation, and acid rain.

Nitrocellulose Market
By Region
2027
Asia-pacific 
North America
Europe
LAMEA

Asia-Pacific holds a dominant position in 2019 and would continue to maintain the lead over the forecast period.

Key Benefits For Stakeholders

  • The report provides in-depth analysis of the global nitrocellulose market along with the current trends and future estimations. 
  • This report highlights the key drivers, opportunities, and restraints of the market along with the impact analysis during the forecast period.
  • Porter’s five forces analysis helps to analyze the potential of the buyers & suppliers and the competitive scenario of the global nitrocellulose market for strategy building.
  • A comprehensive market analysis covers the factors that drive and restrain the global nitrocellulose market growth.
  • The qualitative data about market dynamics, trends, and developments is provided in the report.

Impact Of Covid-19 On The Global Nitrocellulose Market

  • COVID-19 has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.  
  • Some of the major economies suffering the COVID-19 crises include Germany, France, Italy, Spain, the UK, and Norway. 
  • Nitrocellulose is primarily used in printing inks, automotive paints, wood coatings, leather finishes, nail varnishes, and as an impact of national lockdown, these sectors were experiencing a slight decline in the growth rate.
  • In many countries, the economy has dropped due to the halt of several industries, especially transport and supply chain. Demand for the product has been hindered, as there is no development due to the lockdown. 
  • The demand–supply gap, disruptions in raw material procurement, and price volatility are expected to hamper the growth of the chemical industry during the COVID-19 pandemic.
  • The automotive industries are facing issues such as delays in receiving nitrocellulose from the manufacturers due to the restriction on the import and export of commodities. 
  • The pandemic is having a huge impact on the automotive industry. The production of automobiles has been disruptively stopped, contributing to a major loss in the total automotive sectors.
  • With the decrease in automotive production, the demand for nitrocellulose has significantly fallen, which is having a major impact on the nitrocellulose market.
  • However, the demand for online shopping is increasing in emerging countries and labels, plastic bags, and invoices are used for packaging, which eventually needs printing inks for labeling of deliverable packages. Thus, the increase of e-commerce platform acts as a driver for the nitrocellulose market.

Nitrocellulose Market Report Highlights

Aspects Details
Nitrocellulose Market By Product
By Product
  • M Grade cellulose
  • E Grade Cellulose
  • Others
Nitrocellulose Market By Application
By Application
  • Printing inks
  • Automotive paints
  • Wood coatings
  • Leather finishes
  • Nail Varnishes
  • Others
Nitrocellulose Market By Region
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, UK, Spain, France, Italy, Rest of Europe)
  • Asia-Pacific  (.China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, Rest of LAMEA)
Key Market Players
Key Market Players

EURENCO, Nitro Quimica, Hengshui Orient Chemical Co., Ltd., Nitrex Chemicals India Pvt. Ltd., Hagedorn NC, Synthesia a.s., North Sichuan Nitrocellulose Corporation, TNC Industrial Co. Ltd., Nitrocellulose Group, GRN Cellulose Pvt. Ltd.

Analyst Review

The global nitrocellulose market is moving toward growth stabilization phase in its industry life cycle. The factors driving the growth of the nitrocellulose market are surge in demand from the printing inks, automotive paints, wood coatings, leather finishes, and nail varnishes. In 2020, the M grade cellulose segment accounted for a large portion of the nitrocellulose industry. The demand for emulsifiers from the automotive and aerospace industries is growing in M grade cellulose, which is expected to drive the nitrocellulose market growth during the forecast period. Wood coatings are utilized in various applications of residential, industrial and commercial industries such as windows, doors, flooring and cabinet furniture. Advancements in development of new coatings has promoted the use of alternatives to waterborne solutions so as to achieve high performance properties for architectural coatings. However, the Asia-Pacific nitrocellulose market is dominated by the region's surge in demand for nitrocellulose in the paint and coatings industries. The nitrocellulose market in Asia-Pacific is also being driven by increased urbanization and purchases.

Author Name(s) : Snehal Mohite| Rutuja Danekar | Eswara Prasad
Frequently Asked Questions?

Growing demand for bio-based and eco-friendly coatings from construction industry on account of rising concerns towards environmental degradation are major factors driving the market growth across globe

The market value of nitrocellulose in the forecast period is anticipated to be $1.2 Billion.

Major players in the market are EURENCO, GRN Cellulose Pvt. Ltd., Hagedorn NC, Hengshui Orient Chemical Co., Ltd., Nitrex Chemicals India Pvt. Ltd., Nitrocellulose Group, and Nitro Quimica among others.

Wood coatings industry is projected to increase the demand for nitrocellulose market

Asia-Pacific region accounted for the largest nitrocellulose market share

Rising demand from furniture industry and increasing printing inks application are expected to drive the global nitrocellulose market during the forecast period

Wood coatings expected to drive the adoption of nitrocellulose.

As the manufacturing units across the globe were shutdown due to the COVID-19 pandemic, the market has been impacted negatively.

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Nitrocellulose Market

Global Opportunity Analysis and Industry Forecast, 2020-2027