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Report Overview

The global nitrocellulose market size reached a value of around USD 986.29 million in 2023. During the forecast period of between 2024 and 2032, the market is expected to grow at a CAGR of 5.70% to reach around USD 1,624.29 million by 2032.

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

  • According to the United States Securities and Exchange Commission (SEC), retail investor participation in mutual funds has steadily risen, with over USD 25 trillion in assets under management (AUM) in the United States as of 2023, thus aiding the growth of the Nitrocellulose market.
  • The Indian government, through initiatives like the Securities and Exchange Board of India (SEBI), has been promoting financial literacy, resulting in a significant rise in mutual fund investments among individual investors, with AUM surpassing INR 40 lakh crore in 2023.
  • In Canada, the government’s tax-advantaged investment accounts, such as the Tax-Free Savings Account (TFSA), have spurred demand for mutual funds, with more Canadians using such accounts for mutual fund investments, as reported by the Canada Revenue Agency (CRA).

Nitrocellulose Market Trends

Global Nitrocellulose Market Report Summary Description Value
Base Year USD Million 2023
Historical Period USD Million 2018-2023
Forecast Period USD Million 2024-2032
Market Size 2023 USD Million 986.29
Market Size 2032 USD Million 1,624.29
CAGR 2018-2023 Percentage XX%
CAGR 2024-2032 Percentage 5.7%
CAGR 2024-2032 - Market by Region Asia Pacific 6.6%
CAGR 2024-2032 - Market by Country India 7.6%
CAGR 2024-2032 - Market by Country China 6.3%
CAGR 2024-2032 - Market by Product Type M Grade Cellulose 6.4%
CAGR 2024-2032 - Market by End Use Building and Construction 6.5%
Market Share by Country 2023 France 3.3%

Nitrocellulose is gaining traction in wood coatings, cosmetics, pharmaceuticals, and biotechnological applications globally.

  • In the building and construction sector, sliding doors and windows, furniture decking, and other uses, wood coatings based on nitrocellulose are very common. The need for furniture has increased due to the building and construction industry's rapid growth as well as growing living standards, which will likely propel the nitrocellulose market growth.
  • Nitrocellulose is used in standard nail lacquer compositions. It is a necessary element because of its powerful bond to natural nails. Semi-occlusive nail polishes made of nitrocellulose protect the nail while simultaneously allowing it to breathe. Over the forecast period, demand for nail varnish applications is anticipated to increase as a result of the expanding cosmetics sector globally.
  • In addition, nitrocellulose is used to create over-the-counter (OTC) medication products for the eradication of corns, warts, and calluses in the pharmaceutical sector. The production of membranes for microfilters, electro methods, skin protectants, microscopy embedding, and the immobilisation of protein, ribonucleic acid, and DNA with labelled sequences or antibodies using nitrocellulose is also gaining popularity.

nitrocellulose market

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Industry News

August 2024

Eastman’s European Technology Center in Ghent fosters collaboration and innovation, with employees like Marie Withoeck contributing to next-generation products. The center partners with Ghent University and focuses on chemistry, food can coatings, and various industries.

April 2022

The Nitrocellulose Group announced price increases on all industrial grades of nitrocellulose, effective from April 1, 2022, citing severe supply chain challenges, historic peaks in sea freight, and additional factors impacting costs for the year.

Historical Market Analysis

Traditional challenges in the nitrocellulose market have included high production costs, environmental concerns from VOC emissions, and supply chain disruption, thus impeding the nitrocellulose demand. Markets around these barriers invested in the production of low-VOC production for nitrocellulose and more environmentally friendly technologies. Companies and firms streamlined supply chains through improved logistics and partnerships with local suppliers. In product formative innovation, such as water-based nitrocellulose, the environmental impact decreased without loss of performance standards, and that made the product very attractive to increasingly concerned eco-conscious consumers.

Opportunities in the Nitrocellulose Market

Sustainable products, automotive coatings, printing inks, and cosmetics growth offer opportunities for nitrocellulose producers.

  • Increasing demand for sustainable and low-VOC nitrocellulose products presents growth opportunities in eco-friendly applications.
  • The expanding automotive and industrial coatings sectors offer significant potential for high-performance nitrocellulose-based coatings, thereby bolstering the nitrocellulose market opportunities.
  • Rising demand for printing inks in packaging and commercial printing applications creates new markets for nitrocellulose.
  • Growth in personal care and cosmetics, particularly in nail varnishes, offers opportunities for innovative product development and market expansion.

Market Dynamics

Low-VOC and water-based nitrocellulose technologies are driving sustainability in coatings and printing applications.

Low-VOC (volatile organic compounds) nitrocellulose is one of the prime technologies in the nitrocellulose industry, augmenting the nitrocellulose market dynamics and trends. With low-VOC nitrocellulose, the environmental concerns are being addressed since there is less emission in the production and application processes. Companies are using advanced technologies to manufacture eco-friendly, high-performance coatings and inks that ensure compliance with increasingly stringent environmental regulations. Examples include the growing demand for its application in water-based nitrocellulose formulations, which develop high formability and are steadily incorporating in the world of automotive and industrial coatings for providing durability and gloss without polluting the environment, meeting the growing demands of sustainable products worldwide.

Growth Drivers

Sustainable coatings drive nitrocellulose demand, with companies like Eastman offering eco-friendly, high-performance solutions.

Sustainable coatings are a key driver of the nitrocellulose market, with increasing demand for low-VOC and eco-friendly solutions. Companies like Eastman Chemical are developing water-based nitrocellulose products for automotive and industrial applications, meeting stringent environmental regulations. These innovations offer high performance while reducing the environmental impact, making them highly attractive to industries seeking greener alternatives. Eastman’s focus on sustainability through advanced formulations is helping propel growth in the nitrocellulose market as environmental concerns continue to shape industry trends.

Market Restraints

Limited knowledge, high fees, market volatility, and regulatory challenges restrict mutual fund market growth.

  • High production costs, particularly related to raw materials and environmental compliance.
  • Environmental concerns regarding VOC emissions and the need for sustainable, low-emission alternatives, thereby shaping nitrocellulose market challenges.
  • Supply chain disruptions, including transportation delays and raw material shortages, affecting product availability.
  • Stringent regulatory standards across regions, requiring constant adaptation to meet evolving environmental and safety guidelines.

nitrocellulose market by segments

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Nitrocellulose Industry Segmentation

“Nitrocellulose Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

On the basis of product type, the market can be divided into the following:

  • M Grade Cellulose
  • E Grade Cellulose
  • Others

On the basis of application, the market can be divided into the following:

  • Printing Inks
  • Automotive Paints
  • Wood Coating
  • Leather Finishes
  • Nail Varnishes
  • Others

On the basis of end use, the market can be divided into the following:

  • Building and Construction
  • Textile
  • Automobiles
  • Aerospace
  • Personal Care and Cosmetics
  • Marines
  • Others

Based on region, the market can be segregated into:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Nitrocellulose Market Share

By Product Type Analysis

M grade drives automotive coatings, E grade supports printing, and other grades cater to industries.

M grade cellulose is gaining traction in the global market for nitrocellulose due to its extensive use in automotive coatings and lacquers, with high performance and durability. As per nitrocellulose market analysis, E grade cellulose is gaining wider acceptance in the printing and inks industry. It possesses superior solubility properties and will help produce premium-quality prints. Other grades of nitrocellulose, used in adhesives and explosives, are also on the growth path, mainly in industrial applications and defence sectors as demand for niche products increases throughout the world.es.

Market Analysis by Application

Nitrocellulose gains traction in printing, automotive, wood coatings, leather finishes, and nail varnishes.

Printing Inks are on the rise since the demand is rising for high-quality, durable inks in the packaging and commercial printing sector. Automotive paints gain demand in view of increasing automotive production coupled with the continued growth in demand for high-performance coatings, especially in electric vehicles. Wood coatings grow because residential and commercial furniture demand superior quality finishes combined with durability. leather finishes also increase in demand as fashion and automotive retailers increasingly embrace premium, eco-friendly finishing. Nail varnishes are gaining popularity due to an upward trend in demand for personal care and beauty products. Other applications such as adhesives and industrial coatings are also increasing.

End Use Insights

Nitrocellulose is used in coatings across construction, textiles, automotive, aerospace, cosmetics, and marine industries.

Nitrocellulose is finding increased application in various end-use industries. In the building and construction industries, it finds its applications in the formulation of coatings to strengthen the strength and weatherability of materials. As per nitrocellulose industry analysis, in the textile industries, nitrocellulose-based coatings are sought after to impart flexibility and gloss to fabrics. Nitrocellulose is used for its shiny appearance, good durability, and scratch resistance in automobile paints. Nitrocellulose coatings are sought after by aerospace industries due to their lightweight nature along with high-performance attributes. It is also widely applied in nail varnishes in personal care and cosmetics; it offers quick-drying effects and long-lasting finishes. Third, nitrocellulose is applied in the marine industry in a protecting layer that tolerates hard marine environments.

nitrocellulose market by region

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Nitrocellulose Market Regional Insights

North America Nitrocellulose Market Opportunities

A key opportunity in the North America nitrocellulose market lies in the growth of the automotive coatings sector. As the region's automotive industry continues to expand, driven by rising demand for electric vehicles (EVs) and advanced coatings, nitrocellulose-based coatings are essential for providing durability, high gloss, and scratch resistance. According to the United States International Trade Administration, increasing consumer preference for high-performance, environmentally friendly coatings presents a significant opportunity for nitrocellulose manufacturers to innovate and capture market share.

CAGR 2024-2032 - Market by Country
India 7.6%
China 6.3%
USA 5.1%
France 4.5%
Australia 4.5%
Canada XX%
UK XX%
Germany XX%
Italy 4.0%
Japan XX%
Saudi Arabia XX%
Brazil XX%
Mexico XX%

Europe Nitrocellulose Market Dynamics

The Europe nitrocellulose market is influenced by strong demand from the automotive, coatings, and printing industries. The European Union’s focus on eco-friendly and sustainable solutions is driving innovation, leading to the development of water-based and low-VOC nitrocellulose products. According to the European Commission, automotive production in the region has been steadily increasing, particularly in Germany and France, boosting the demand for high-performance coatings. Additionally, growth in the printing and packaging sectors is further propelling the market.

Asia Pacific Nitrocellulose Market Trends

The Asia Pacific nitrocellulose industry is growing rapidly, driven by increased demand in automotive, coatings, and printing industries. According to the Indian Ministry of Chemicals and Fertilisers, the automotive sector in India has seen significant growth, spurring demand for high-quality coatings that use nitrocellulose. In China, the government’s push for infrastructure development under initiatives like "Made in China 2025" has further fueled demand for coatings and paints. These trends, along with rising industrialization, are contributing to the market’s expansion in the region.

Latin America Nitrocellulose Market Insights

The Latin America industry for nitrocellulose is witnessing growth, driven by expanding automotive, coatings, and printing sectors. According to Brazil's Ministry of Industry, the country’s automotive sector, one of the largest in the region, has been a significant consumer of nitrocellulose-based coatings. Additionally, increasing demand for high-quality printing inks in Brazil and Argentina is boosting the market. Governments are also supporting infrastructure development, further fueling demand for nitrocellulose products. Companies are expanding production capabilities to meet these rising demands.

Middle East and Africa Nitrocellulose Market Drivers

The Middle East and Africa nitrocellulose market is driven by growing demand from the automotive, coatings, and printing industries. Increasing automotive production in countries like South Africa and the UAE boosts the need for nitrocellulose-based coatings. Additionally, expanding infrastructure projects and urbanisation in the region are increasing the demand for high-quality paints and coatings. Companies like Nobel NC, a leading nitrocellulose producer, are capitalising on these trends by expanding their production capacity and offering innovative solutions tailored to regional needs.

Competitive Landscape

The nitrocellulose market players are enhancing their production capabilities and product quality to fulfil the growing demand from industries such as automotive, printing, and coatings. Companies are constantly researching and developing nitrocellulose alternatives that are more environment-friendly and sustainable. These nitrocellulose companies are looking toward potential emerging markets, especially in the Asia-Pacific region, where growth in industrial activities is creating increased demand for nitrocellulose-based products in coatings, inks, and other applications.

Key Market Players

Key industry leaders in this market are:

DuPont de Nemours, Inc. headquartered in the United States, is one of the world's largest producers of chemicals and science-based products. DuPont produces a wide range of industrial chemicals, synthetic fibres, sterile and speciality packaging materials, petroleum-based fuels and lubricants, pharmaceuticals, cosmetics ingredients, agricultural chemicals, and building materials. It also produces building materials and building products. 

GRN Cellulose Pvt. Ltd. was founded in 1990 and is one of the top producers of industrial grade nitrocellulose in powder (cotton) and solution form. Today, nitrocellulose produced by GRN is widely utilised in a variety of industries, including leather finishing lacquers, paints, wood lacquers, nail varnishes, printing inks, and in the defence sector.

Synthesia A.S. was founded in 1920 and is a leading producer of certified chemicals with headquarters in the Czech Republic. It specialises in the production of advanced organic intermediates, pigments, and dyes, as well as derivatives of cellulose. A significant portion of Synthesia's output is intended for export to European markets.

Other market players include The Nitrocellulose Group and TNC industrial Co. Ltd., among others.

Recent Developments

October 2024

MSM Group – a Slovakian affiliate of the CSG industrial group – concluded an agreement with IFF, a US-listed public company, pursuant to which MSM Group shall acquire the nitrocellulose business, including plant facilities, and Walsrode Industrial Park in the federal state of Lower Saxony, Germany from IFF.

April 2024

The Czech chemical giant Synthesia plans to raise the capacity of nitrocellulose by 16%. The company will invest in the project, estimated at EUR 40 million, and complete the expansion by the year 2026.

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

In 2023, the global market for nitrocellulose attained a value of nearly USD 986.29 million.

The market for nitrocellulose is projected to grow at a CAGR of 5.70% between 2024 and 2032.

The nitrocellulose market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 1,624.29 million by 2032.

The major drivers of the market include the rising living standards, rapid urbanisation, growing use in end-use industries, and boosting sales of vehicles.

Rapid growth of the furniture industry and increased demand for personal care products are the key industry trends propelling the growth of the market.

The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The major players in the industry are DuPont de Nemours, Inc., GRN Cellulose Pvt. Ltd., Synthesia A.S., The Nitrocellulose Group, and TNC industrial Co. Ltd., among others.

Nitrocellulose can irritate the throat and nose when inhaled. Exposure can result in headache, nausea, vomiting, light-headedness, breathing difficulties, and unconsciousness.

The main product types of nitrocellulose are M Grade cellulose and E Grade cellulose, among others.

Nitrocellulose may be thoroughly cleaned off with acetone as acetone has the capacity to fully dissolve the nitrocellulose membranes.

Report Summary

Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.

Key Highlights of the Report

Please note that the figures mentioned in the description serve as estimates and may vary from the actual figures presented in the final report.

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product Type
  • Application
  • End Use
  • Region
Breakup by Product Type
  • M Grade Cellulose
  • E Grade Cellulose
  • Others
Breakup by Application
  • Printing Inks
  • Automotive Paints
  • Wood Coating
  • Leather Finishes
  • Nail Varnishes
  • Others
Breakup by End Use
  • Building and Construction
  • Textile
  • Automobiles
  • Aerospace
  • Personal Care and Cosmetics
  • Marines
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • DuPont de Nemours, Inc.
  • GRN Cellulose Pvt. Ltd.
  • Synthesia A.S.
  • The Nitrocellulose Group
  • TNC industrial Co. Ltd.
  • Others

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