05.07.19
In its report, “Nitrocellulose Market Size, Share & Trends Analysis Report By Application (Automotive Paints, Printing Inks, Wood Coatings, Leather Finishes, Nail Varnishes), By Region, And Segment Forecasts, 2019 – 2025,” Grand View Research estimates the global nitrocellulose market size at $720.12 million in 2018, and is expected to grow at a CAGR of 6.2% from 2019 to 2025.
Rising usage of nitrocellulose-based inks in coatings and paints industry across emerging economies, such as India, China, Vietnam, and Colombia, is expected to have a positive influence on the market growth. Guncotton is a highly inflammable compound, its usage and storage are governed by strict regulations.
They are produced when cellulose is reacted with the nitrating acid and utilized as a propellant or low-order explosive. Nitric acid and sulfuric acid are presumed to witness high growth on account of their usage in the production of fertilizers and other industrial applications.
The printing ink segment is driven by technological developments and increasing consumption of eco-friendly inks. Product usage in gravure printing and flexography offers high-quality and durable paint. Flexographic printing can be used on any material like plastics, metallic films, paper, and many others materials. Gravure printing is used for engraving images onto cylindrical bases, mostly used in the rotary printing press. These inks are preferred over other products owing to their superior properties, such as quick drying, good adhesion, and easy application.
Wood coatings emerged as the second-largest application segment owing to increasing residential construction activities. Cellulose nitrate-based wood coatings can also be used with various other color applications, such as sap stains, fillers, overall stains, and toners. Rapid growth of the furniture industry over the recent years and high demand are projected to complement the segment growth during the forecast years.
Asia Pacific was the leading consumer and accounted for more than 45% of the total revenue in 2018. Emerging economies, such as India, Thailand, and China, are the largest producers and importers of the cellulosic material in the region. Numerous manufacturers are also shifting their production bases to this region to reduce the production costs.
Rising usage of nitrocellulose-based inks in coatings and paints industry across emerging economies, such as India, China, Vietnam, and Colombia, is expected to have a positive influence on the market growth. Guncotton is a highly inflammable compound, its usage and storage are governed by strict regulations.
They are produced when cellulose is reacted with the nitrating acid and utilized as a propellant or low-order explosive. Nitric acid and sulfuric acid are presumed to witness high growth on account of their usage in the production of fertilizers and other industrial applications.
The printing ink segment is driven by technological developments and increasing consumption of eco-friendly inks. Product usage in gravure printing and flexography offers high-quality and durable paint. Flexographic printing can be used on any material like plastics, metallic films, paper, and many others materials. Gravure printing is used for engraving images onto cylindrical bases, mostly used in the rotary printing press. These inks are preferred over other products owing to their superior properties, such as quick drying, good adhesion, and easy application.
Wood coatings emerged as the second-largest application segment owing to increasing residential construction activities. Cellulose nitrate-based wood coatings can also be used with various other color applications, such as sap stains, fillers, overall stains, and toners. Rapid growth of the furniture industry over the recent years and high demand are projected to complement the segment growth during the forecast years.
Asia Pacific was the leading consumer and accounted for more than 45% of the total revenue in 2018. Emerging economies, such as India, Thailand, and China, are the largest producers and importers of the cellulosic material in the region. Numerous manufacturers are also shifting their production bases to this region to reduce the production costs.