Nitrocellulose market size to grow by USD 346.65 million from 2021 to 2026: Abundant availability of cellulose to drive growth - Technavio

NEW YORK, April 4, 2023 /PRNewswire/ -- The global nitrocellulose market size is estimated to increase by USD 346.65 million from 2021 to 2026. The market's growth momentum will accelerate at a CAGR of 7.23%. The abundant availability of cellulose and the simple manufacturing process for nitrocellulose are driving market growth. Cellulose is used in numerous products owing to its unique structure and various functions. Wood and plant fibers are the key sources of cellulose. It is a crucial polysaccharide and is found in abundance. Cellulose is a major raw material used in the production of nitrocellulose. It reacts easily with acids and bases. Moreover, the manufacturing process for nitrocellulose is relatively simple. These factors will fuel the growth of the global nitrocellulose market. Discover some insights on market size and forecast (2022 to 2026) before buying the full report - Request a sample report

Nitrocellulose market - Segmentation assessment

Segment overview
Technavio has segmented the market based on application (printing ink, automotive paint, wood coating, leather finishes, and others) and geography (APAC, Europe, North America, Middle East and Africa, and South America). 

• The printing ink segment will account for a significant share of the market growth during the forecast period. Nitrocellulose-based printing inks are mainly used for packaging food. They are environment-friendly and do not contain toxic monomers. Nitrocellulose-based printing inks are also used for surface printing and lamination. They are odorless, provide gloss, and have high adhesion to various types of substrates. Hence, nitrocellulose-based printing inks are preferred in the packaging and flexographic printing industry. The increasing use of printing inks in different industries will drive the growth of this segment during the forecast period.

Geography overview
The report provides actionable insights and estimates the contribution of all regions to the growth of the global nitrocellulose market.

• APAC will account for 41% of the market's growth during the forecast period. China, South Korea, and Japan are the key contributors to the nitrocellulose market in the region. Moreover, market growth in APAC will be faster than the growth of the market in other regions. High investments across all end-user segments, such as automotive paints and wood coatings in emerging economies, will drive the nitrocellulose market growth in APAC during the forecast period.

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Nitrocellulose market - Vendor analysis
Vendor landscape –

The global nitrocellulose market is fragmented, with the presence of a few large, medium, and small-scale vendors. A few prominent vendors that offer nitrocellulose in the market are as follows:

• Eurenco
• Hagedorn AG, IVM SRL
• Hubei Xuefei Chemical Co. Ltd.
• International Flavors and Fragrances Inc.
• Jiangsu Telida Group
• MAXAMCORP HOLDING SL
• Nitrex Chemicals India Ltd.
• Nitro Chemical Industry Ltd.
• Nitrochemie Wimmis AG
• Nitroparis S.L.
• TNC Industrial Co. Ltd.
• VS Chem Ltd.

Most large and established vendors sell and distribute their offerings to customers globally, while smaller vendors are concentrated in regional markets. Vendors compete on the basis of parameters such as price, quality, innovation, reputation, brand identity, and distribution. Large vendors have a vast geographical presence, large production facilities, and significant market shares. Due to intense rivalry, vendors are adopting pricing and marketing strategies to retain their existing market shares and seize new market opportunities. High product differentiation further intensifies the competition in the market. Hence, to thrive in such a competitive environment, it becomes imperative for vendors to differentiate their product offerings through a clear and unique value proposition.

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Vendor offerings -

• AGROFERT AS - The company offers nitrocellulose through its subsidiary Synthesia a.s.
• Companhia Nitro Quimica Brasileira - The company offers nitrocellulose for packaging and printing inks.
• GRN Cellulose Pvt. Ltd. - The company offers nitrocellulose for the coating industry.
• For details on vendors and their offerings – Request a sample report

Nitrocellulose market – Market dynamics

Key trends - The increasing use of nitrocellulose as propellants is a key trend in the market. Nitrocellulose is used as a propellant for low-order explosives such as pipe bombs and gunpowder. Propellants that contain nitrocellulose are used widely by militaries of various countries, as it has high chemical energy to propel a projectile. Hence, the increasing use of nitrocellulose as propellants in different industries will support the growth of the market during the forecast period.

Major challenges - Stringent regulations on emissions of hazardous substances are challenging market growth. Paints and coatings contain volatile chemicals that can harm the environment. Various regulatory authorities have imposed stringent regulations to limit harmful emissions. Therefore, it is difficult for vendors of nitrocellulose to ensure safe logistics, as adhering to stringent regulations increases the operating costs incurred by manufacturers. Therefore, stringent regulations may impede the growth of the global nitrocellulose market during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this nitrocellulose market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the nitrocellulose market between 2022 and 2026
• Precise estimation of the size of the nitrocellulose market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the nitrocellulose market across APAC, Europe, North America, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of nitrocellulose market vendors

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Table of contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Incremental Growth
• Exhibit 07: Executive Summary – Data Table on Incremental Growth
• Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 09: Parent market
• Exhibit 10: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 11: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 12: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026 
• Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary 
• Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers 
• Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers 
• Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants 
• Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes 
• Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry 
• Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition 
• Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Application

• 5.1 Market segments 
• Exhibit 24: Chart on Application - Market share 2021-2026 (%)
• Exhibit 25: Data Table on Application - Market share 2021-2026 (%)

• 5.2 Comparison by Application 
• Exhibit 26: Chart on Comparison by Application
• Exhibit 27: Data Table on Comparison by Application

• 5.3 Printing ink - Market size and forecast 2021-2026
• Exhibit 28: Chart on Printing ink - Market size and forecast 2021-2026 ($ million)
• Exhibit 29: Data Table on Printing ink - Market size and forecast 2021-2026 ($ million)
• Exhibit 30: Chart on Printing ink - Year-over-year growth 2021-2026 (%)
• Exhibit 31: Data Table on Printing ink - Year-over-year growth 2021-2026 (%)

• 5.4 Automotive paint - Market size and forecast 2021-2026
• Exhibit 32: Chart on Automotive paint - Market size and forecast 2021-2026 ($ million)
• Exhibit 33: Data Table on Automotive paint - Market size and forecast 2021-2026 ($ million)
• Exhibit 34: Chart on Automotive paint - Year-over-year growth 2021-2026 (%)
• Exhibit 35: Data Table on Automotive paint - Year-over-year growth 2021-2026 (%)

• 5.5 Wood coating - Market size and forecast 2021-2026
• Exhibit 36: Chart on Wood coating - Market size and forecast 2021-2026 ($ million)
• Exhibit 37: Data Table on Wood coating - Market size and forecast 2021-2026 ($ million)
• Exhibit 38: Chart on Wood coating - Year-over-year growth 2021-2026 (%)
• Exhibit 39: Data Table on Wood coating - Year-over-year growth 2021-2026 (%)

• 5.6 Leather finishes - Market size and forecast 2021-2026
• Exhibit 40: Chart on Leather finishes - Market size and forecast 2021-2026 ($ million)
• Exhibit 41: Data Table on Leather finishes - Market size and forecast 2021-2026 ($ million)
• Exhibit 42: Chart on Leather finishes - Year-over-year growth 2021-2026 (%)
• Exhibit 43: Data Table on Leather finishes - Year-over-year growth 2021-2026 (%)

• 5.7 Others - Market size and forecast 2021-2026
• Exhibit 44: Chart on Others - Market size and forecast 2021-2026 ($ million)
• Exhibit 45: Data Table on Others - Market size and forecast 2021-2026 ($ million)
• Exhibit 46: Chart on Others - Year-over-year growth 2021-2026 (%)
• Exhibit 47: Data Table on Others - Year-over-year growth 2021-2026 (%)

• 5.8 Market opportunity by Application 
• Exhibit 48: Market opportunity by Application ($ million)

6 Customer Landscape

• 6.1 Customer landscape overview 
• Exhibit 49: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

• 7.1 Geographic segmentation 
• Exhibit 50: Chart on Market share by geography 2021-2026 (%)
• Exhibit 51: Data Table on Market share by geography 2021-2026 (%)

• 7.2 Geographic comparison 
• Exhibit 52: Chart on Geographic comparison
• Exhibit 53: Data Table on Geographic comparison

• 7.3 APAC - Market size and forecast 2021-2026
• Exhibit 54: Chart on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 55: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 56: Chart on APAC - Year-over-year growth 2021-2026 (%)
• Exhibit 57: Data Table on APAC - Year-over-year growth 2021-2026 (%)

• 7.4 Europe - Market size and forecast 2021-2026
• Exhibit 58: Chart on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 59: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 60: Chart on Europe - Year-over-year growth 2021-2026 (%)
• Exhibit 61: Data Table on Europe - Year-over-year growth 2021-2026 (%)

• 7.5 North America - Market size and forecast 2021-2026
• Exhibit 62: Chart on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 63: Data Table on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 64: Chart on North America - Year-over-year growth 2021-2026 (%)
• Exhibit 65: Data Table on North America - Year-over-year growth 2021-2026 (%)

• 7.6 Middle East and Africa - Market size and forecast 2021-2026 
• Exhibit 66: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 67: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 68: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
• Exhibit 69: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

• 7.7 South America - Market size and forecast 2021-2026
• Exhibit 70: Chart on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 71: Data Table on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 72: Chart on South America - Year-over-year growth 2021-2026 (%)
• Exhibit 73: Data Table on South America - Year-over-year growth 2021-2026 (%)

• 7.8 China - Market size and forecast 2021-2026
• Exhibit 74: Chart on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 75: Data Table on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 76: Chart on China - Year-over-year growth 2021-2026 (%)
• Exhibit 77: Data Table on China - Year-over-year growth 2021-2026 (%)

• 7.9 US - Market size and forecast 2021-2026
• Exhibit 78: Chart on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 79: Data Table on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 80: Chart on US - Year-over-year growth 2021-2026 (%)
• Exhibit 81: Data Table on US - Year-over-year growth 2021-2026 (%)

• 7.10 South Korea - Market size and forecast 2021-2026
• Exhibit 82: Chart on South Korea - Market size and forecast 2021-2026 ($ million)
• Exhibit 83: Data Table on South Korea - Market size and forecast 2021-2026 ($ million)
• Exhibit 84: Chart on South Korea - Year-over-year growth 2021-2026 (%)
• Exhibit 85: Data Table on South Korea - Year-over-year growth 2021-2026 (%)

• 7.11 Germany - Market size and forecast 2021-2026
• Exhibit 86: Chart on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 87: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 88: Chart on Germany - Year-over-year growth 2021-2026 (%)
• Exhibit 89: Data Table on Germany - Year-over-year growth 2021-2026 (%)

• 7.12 Italy - Market size and forecast 2021-2026
• Exhibit 90: Chart on Italy - Market size and forecast 2021-2026 ($ million)
• Exhibit 91: Data Table on Italy - Market size and forecast 2021-2026 ($ million)
• Exhibit 92: Chart on Italy - Year-over-year growth 2021-2026 (%)
• Exhibit 93: Data Table on Italy - Year-over-year growth 2021-2026 (%)

• 7.13 Japan - Market size and forecast 2021-2026
• Exhibit 94: Chart on Japan - Market size and forecast 2021-2026 ($ million)
• Exhibit 95: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
• Exhibit 96: Chart on Japan - Year-over-year growth 2021-2026 (%)
• Exhibit 97: Data Table on Japan - Year-over-year growth 2021-2026 (%)

• 7.14 Market opportunity by geography 
• Exhibit 98: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

• 8.1 Market drivers

• 8.2 Market challenges

• 8.3 Impact of drivers and challenges 
• Exhibit 99: Impact of drivers and challenges in 2021 and 2026

• 8.4 Market trends

9 Vendor Landscape

• 9.1 Overview

• 9.2 Vendor landscape 
• Exhibit 100: Overview on Criticality of inputs and Factors of differentiation

• 9.3 Landscape disruption 
• Exhibit 101: Overview on factors of disruption

• 9.4 Industry risks 
• Exhibit 102: Impact of key risks on business

10 Vendor Analysis

• 10.1 Vendors covered 
• Exhibit 103: Vendors covered

• 10.2 Market positioning of vendors 
• Exhibit 104: Matrix on vendor position and classification

• 10.3 AGROFERT AS 
• Exhibit 105: AGROFERT AS - Overview
• Exhibit 106: AGROFERT AS - Product / Service
• Exhibit 107: AGROFERT AS - Key offerings

• 10.4 Companhia Nitro Quimica Brasileira 
• Exhibit 108: Companhia Nitro Quimica Brasileira - Overview
• Exhibit 109: Companhia Nitro Quimica Brasileira - Product / Service
• Exhibit 110: Companhia Nitro Quimica Brasileira - Key offerings

• 10.5 GRN Cellulose Pvt. Ltd. 
• Exhibit 111: GRN Cellulose Pvt. Ltd. - Overview
• Exhibit 112: GRN Cellulose Pvt. Ltd. - Product / Service
• Exhibit 113: GRN Cellulose Pvt. Ltd. - Key offerings

• 10.6 Hubei Xuefei Chemical Co. Ltd. 
• Exhibit 114: Hubei Xuefei Chemical Co. Ltd. - Overview
• Exhibit 115: Hubei Xuefei Chemical Co. Ltd. - Product / Service
• Exhibit 116: Hubei Xuefei Chemical Co. Ltd. - Key offerings

• 10.7 International Flavors and Fragrances Inc.
• Exhibit 117: International Flavors and Fragrances Inc. - Overview
• Exhibit 118: International Flavors and Fragrances Inc. - Business segments
• Exhibit 119: International Flavors and Fragrances Inc. - Key news
• Exhibit 120: International Flavors and Fragrances Inc. - Key offerings
• Exhibit 121: International Flavors and Fragrances Inc. - Segment focus

• 10.8 Nitrex Chemicals India Ltd. 
• Exhibit 122: Nitrex Chemicals India Ltd. - Overview
• Exhibit 123: Nitrex Chemicals India Ltd. - Product / Service
• Exhibit 124: Nitrex Chemicals India Ltd. - Key offerings

• 10.9 Nitro Chemical Industry Ltd. 
• Exhibit 125: Nitro Chemical Industry Ltd. - Overview
• Exhibit 126: Nitro Chemical Industry Ltd. - Product / Service
• Exhibit 127: Nitro Chemical Industry Ltd. - Key offerings

• 10.10 Nitroparis S.L. 
• Exhibit 128: Nitroparis S.L. - Overview
• Exhibit 129: Nitroparis S.L. - Product / Service
• Exhibit 130: Nitroparis S.L. - Key offerings

• 10.11 TNC Industrial Co. Ltd. 
• Exhibit 131: TNC Industrial Co. Ltd. - Overview
• Exhibit 132: TNC Industrial Co. Ltd. - Product / Service
• Exhibit 133: TNC Industrial Co. Ltd. - Key offerings

• 10.12 VS Chem Ltd. 
• Exhibit 134: VS Chem Ltd. - Overview
• Exhibit 135: VS Chem Ltd. - Product / Service
• Exhibit 136: VS Chem Ltd. - Key offerings

11 Appendix

• 11.1 Scope of the report

• 11.2 Inclusions and exclusions checklist 
• Exhibit 137: Inclusions checklist
• Exhibit 138: Exclusions checklist

• 11.3 Currency conversion rates for US$ 
• Exhibit 139: Currency conversion rates for US$

• 11.4 Research methodology 
• Exhibit 140: Research methodology
• Exhibit 141: Validation techniques employed for market sizing
• Exhibit 142: Information sources

• 11.5 List of abbreviations 
• Exhibit 143: List of abbreviations

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