The global nitrocellulose market size is expected to reach USD 1.09 billion by 2025 registering a CAGR of 6.2%, according to a new report by Grand View Research, Inc. Wide scope of application across numerous end-use industries is expected to drive the global market. Nitrocellulose-based printing inks are used in gravure and flexography printing applications. There has been a rise in printing ink applications in the recent past and is expected to have a positive impact on the market growth. Physical properties, such as better adhesion and non-reactivity to other paints, of the product are expected to compliment the overall demand.
Nitrocellulose,
when added to inks or coatings, imparts special characteristics, such as
superior drying properties and high solubility. Governments across the globe
have issued several regulations and imposed various mandatory policies for
importers to obtain import license for the trade of this product with an aim to
safeguard public interest and prevent any misuse of the substance. Industrial
nitrocellulose is categorized as a hazardous substance and is thus exposed to a
host of regulations related to explosive substances. Such a categorization
leads to more precautionary measures and a higher related cost. However,
growing industrialization is expected to create ample opportunities for
industry expansion.
Full Research Report On Nitrocellulose Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/nitrocellulose-market
Further key
findings from the study suggest:
- The global
nitrocellulose market was valued at USD 720.12 million in 2018 and is
expected to witness a CAGR of 6.2% from 2019 to 2025
- Wood coatings
accounted for 24.58% of the total share in 2018. Nitrocellulose-based
paints are preferred over conventional products due to their
characteristics that are suitable for furniture coating
- However,
printing inks is projected to be the largest and fastest-growing
application over the forecast years
- Asia Pacific
emerged as the leading regional market and accounted for over 47.58% of
global demand in 2018
- China is the
largest product consumer in APAC on account of rapid growth of the
printing inks industry in the country
- Key companies
in the industry include Abu Zaabal Co. for Specialty Chemicals, Atomax
Chemicals Co., Ltd., Dow Wolff Cellulosics GmbH, TNC Industrial Co., Ltd.,
Nitrochemie AG, Sichuan North Nitrocellulose Corporation, and Hagedorn NC
- Government
restrictions in certain regions may interrupt the growth opportunities for
these market participants
Request a Sample Copy of the Report @
https://www.grandviewresearch.com/industry-analysis/nitrocellulose-market/request/rs1
Grand View Research has
segmented the global nitrocellulose market on the basis of application and
region:
Nitrocellulose Application
Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- Printing inks
- Automotive paints
- Wood coatings
- Leather finishes
- Nail Varnishes
- Others
Nitrocellulose Regional
Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Turkey
- Spain
- Austria
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Thailand
- Vietnam
- Malaysia
- Indonesia
- Taiwan
- Rest of Asia Pacific
- Latin America
- Mexico
- Brazil
- Argentina
- Peru
- Colombia
- Chile
- Middle East & Africa
- South Africa
- Egypt
- UAE
- Rest of Middle East & Africa
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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