The Global Nitrocellulose Market size is expected to reach $1,071.9 million by 2025, rising at a market growth of 6.1% CAGR during the forecast period (2019-2025).
The production cost of cellulose nitrate majorly comprises raw materials costs, required utilities, maintenance work, workforce, logistics and production facility cost with raw material procurement accounting for the major share in production cost.
The printing ink market segment is majorly influenced by advancements in technology and rising demand of eco-friendly inks owing to the environmental concerns worldwide. The usage of Nitrocellulose in printing inks provides capability to dry fast, gloss and enhanced adhesive properties to a number of substrates. Wide variety of flexographic and gravure inks for the application in packaging industry utilize nitrocellulose.
As the major strategies the market participants are focusing on widening their product portfolio, enhancing the production capacity with expansion into low cost regions especially in Asia Pacific geographies. Also, the companies are going for partnerships and collaborations with regional players to expand the geographical reach. For instance, in 2016, Nippon Paint India announced its partnership with IVM Chemicals based in Italy for promotion of its wood coating product portfolio based on Japanese technology. According to the agreement, brands such as Milesi, Ilva and Croma Lacke from IVM Chemicals were to be marketed by Nippon in Indian wood coatings market.
Luxury furniture has been gaining prominence, as the furniture adds aesthetic value to the household or a commercial place. The use of luxury furniture in various setups has contributed to the growth of the luxury furniture market. Luxury furniture is commonly made up of different kinds of material such as metal, wood, glass, plastic, leathers and others (rattan, concrete, fabric, polyurethane, acrylic, fiber and stone). Wood holds the maximum market share, as wood is used majorly in the luxury furniture thereby leading path for significant growth to wood coatings market segment.
Key Topics Covered
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.3 Market Scope
1.4.1 Global Nitrocellulose Market, by Application
1.4.2 Global Nitrocellulose Market, by Geography
1.5 Methodology for the research
Chapter 2. Market Overview
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Global Nitrocellulose Market by Application
3.1 Global Printing Inks Market by Region
3.2 Global Wood Coatings Market by Region
3.3 Global Automotive Paints Market by Region
3.4 Global Leather Finishes Market by Region
3.5 Global Nail Varnishes Market by Region
3.6 Global Other Applications Market by Region
Chapter 4. Global Nitrocellulose Market by Region
4.1 North America Nitrocellulose Market
4.2 Europe Nitrocellulose Market
4.3 Asia-Pacific Nitrocellulose Market
4.4 LAMEA Nitrocellulose Market
Chapter 5. Company Profiles
5.1 The Dow Chemical Company
5.2 Eastman Chemical Company
5.3 Nippon Paints Holdings Co. Ltd.
5.4 PPG Industries Inc.
5.5 Arkema S.A.
5.6 AkzoNobel N.V.
5.7 RPM International Inc.
5.8 Sherwin Williams Company
5.9 Ashland Global Holdings Inc.
5.10 BASF SE
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