Nitrocellulose Market Size worth over $1 bn by 2025
Published Date: October 15, 2019 Authors: Kunal Ahuja, Kritika Mamtani
Nitrocellulose Market size is anticipated to surpass USD 1 billion by 2025; according to a new research report by Global Market Insights, Inc.
The nitrocellulose market shall witness significant gains owing to its usage in various industrial formulations. The product dissolves readily in various organic solvents and offers a flexible, tough film which is ideal for effective surface finish, thereby improving product usage in wood coating & auto paints applications. Rising petroleum derivatives cost and stringent government regulations have urged manufacturers to revise their paints & coatings formulations to meet changing regulation requirements which shall support guncotton market growth.
High quality finish & super protection properties in leather industry to spur nitrocellulose demand
Leather products require high gloss or matt finishes to enhance their appearance and to provide protection against heat and moisture. Global leather goods market was valued over USD 410 billion in 2017. 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 cellulose nitrate market growth.
Nitrocellulose is widely adopted in leather finishes owing to its ability to soften the leather and prevent foam formation. It imparts a smooth & soft feel with high gloss on the leather surface which thereby improves the lifespan of end use product.
Browse key industry insights spread across 170 pages with 105 market data tables and 42 figures & charts from the report, “Nitrocellulose Market Size By Application (Automotive Paints, Printing Inks, Leather Finishes, Wood Coatings, Nail Varnish), Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
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Cosmetics industry to favor nitrate cellulose market in North America
Growing number of consumers focusing on personal appearance has enhanced consumer spending on innovative cosmetic products. Ongoing trend for nail art has become a vital component of grooming among young generation and adoption of nail paints with natural contents and reduced chemical content nail paints is likely to have a major impact on nitrocellulose market growth. The product is commonly used in nail creams & manicuring products owing to its effective adhesion & fast drying properties making it an important ingredient in nail lacquer formulation.
North America nail varnish market may spur at over USD 25 million upto 2025. Higher levels of nitrocellulose in nail varnishes contribute to a more flexible film which improves the durability of the end-use product. Nail polish generated sales of over USD 565 million in 2018 which accounted for almost 50% of nail products market in the U.S. which shows favorable trend for nitrocellulose market growth.
Automotive paints application in Europe to support nitrocellulose demand
Ongoing development of automotive industry in the region has boosted the demand for high quality auto paints to preserve vehicles from corrosion, oxidation and to enhance the aesthetic value of automobiles. Europe automotive paints market valued over USD 40 million in 2018. Manufacturers are focused on improving the quality of auto paints by utilizing high viscosity grades of nitrocellulose for repair & refinish as they enhance the film strength & flexibility without compromising the quality standards.
Ability of paints to improve the durability, presentation and performance of vehicles are key attributes which shall contribute to the product demand in the region as consumers are opting for automotive with enhanced coating performance to reduce vehicle servicing & maintenance.
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 nitrocellulose market growth.
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.