SELBYVILLE, Del., Oct. 18, 2019 /PRNewswire/ -- According to latest report "Nitrocellulose Market by Application (Automotive Paints, Printing Inks, Leather Finishes, Wood Coatings, Nail Varnish), Regional Outlook, Price Trends, Competitive Market Share & Forecast, 2019–2025", by Global Market Insights, Inc., the worldwide nitrocellulose market revenue will reach US$1 billion by 2025.
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.
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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.
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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.
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Chapter 3 Nitrocellulose Market Insights – from Table of Contents (ToC) of the report:
3.1 Industry segmentation
3.2 Industry landscape, 2014 - 2025
3.3 Industry ecosystem analysis
3.3.1 Vendor matrix
3.3.2 Distribution channel analysis
126.96.36.199 Technology Provider
3.4 Regulatory landscape
188.8.131.52 49 CFR 100 – 177
184.108.40.206 Directive 2008/98/EC Of the European Parliament and the Council
220.127.116.11 China State Council Decree 591
3.5 Pricing analysis
3.6 Technology landscape
3.7 Raw material analysis
3.7.1 Wood pulp
3.7.2 Nitric Acid
3.7.3 Sulfuric Acid
3.8 Industry impact forces
3.8.1 Growth drivers
18.104.22.168 North America: Rising demand from furniture industry
22.214.171.124 Europe: Significant demand from automotive paints industry
126.96.36.199 Asia Pacific: Increasing printing inks application
3.8.2 Industry pitfall & challenges
188.8.131.52 Strict regulatory compliance
184.108.40.206 Growing use of substitutes in molecular biology
3.9 Growth potential analysis, 2018
3.9.1 Emerging business models
220.127.116.11 New product launch
3.10 Innovation & sustainability
3.11 Porter's analysis
3.12 Competitive landscape, 2018
3.12.1 Company market share analysis, 2018
3.12.2 Strategy dashboard
3.13 PESTEL analysis
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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By 2025, Nitrocellulose Market to hit USD 1 Billion
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 nitrocellulose market growth.
SOURCE Global Market Insights, Inc.