Nitrocellulose Market may exceed USD 1.2 billion by 2025; according to a new research report. Growing demand for furniture with rapid expansion of educational and commercial sector has led to rising demand for innovative and aesthetically appealing coatings. Nitrocellulose is widely utilized as a base substance for coatings owing to its ability to accentuate wood grain which increases its suitability for school furniture applications. Rising young population, supportive government education reforms, and rapid construction of school facilities will stimulate the nitrocellulose market share.
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Rising passenger car market owing to increasing availability of diverse range of vehicles models at varied price range should foster automotive paints market. Nitrocellulose is widely used in manufacturing automotive paint formulations owing to its high nitrogen content, and compatibility with repair & refinish formulations. Growing demand for custom automotive paints, contemporary products and increasing consumer preference for nano paints should further boost the nitrocellulose market growth.
Increasing demand for packaged goods & food owing to rising disposable income has boosted the requirement of printing inks for packaging & labelling applications. Increasing literacy rates globally, urbanization, and rapid increase of e-commerce sector has boosted the demand for high quality inks. It is widely used in manufacturing high quality inks owing to its characteristics such as quick drying time, heat and smudge resistance. Increasing demand for high quality prints, detailed maps, and posters nay augment the nitrocellulose market share.
Escalating demand for high quality leather products owing to rising consumer inclination to purchase leather products and changing outlook towards luxury shopping may foster market share. It is widely used in leather furnishing products as it imparts pleasant luster, rub fastness, and natural texture to leather products. Rising disposable income and increasing prevalence to purchase high quality leather products such as jackets, shoes, bags, and wallets may trigger the nitrocellulose market growth.
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Industry participants in nitrocellulose market include Nitro Quimica, DuPont Specialty Solutions, Hagedorn GmbH, Nitres Chemicals, Hubei Xuefei Chemicals, Nantong Tailida Chemical Corporation , Hebei Sanmu Cellulose, IVM Chemicals, EURENCO, Nitro Chemical Industry, Nobel NC, Nitrochemie AG, and Fenchem Biotek. Companies are engaged in stringent research to find alternate ways to manufacture by improving the production process and lowering costs within stringent manufacturing regulations.
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