USD 823.94 Million
Nitrocellulose Market Size, Share, and Growth Analysis
Nitrocellulose Market By Product (M Grade Cellulose, E Grade Cellulose), By Application (Printing Inks, Automotive Paints), By End Use Industries (Building & Construction, Textile), By Region -Industry Forecast 2025-2032.
Report ID:
SQMIG15E2549 |
Region:
Global |
Published Date: November, 2024
Pages:
175
|Tables:
64
|Figures:
65
Format -
Nitrocellulose Market Insights
Nitrocellulose Market size was valued at USD 823.94 Million in 2023 and is poised to grow from USD 863.49 Million in 2024 to USD 1256.45 Million by 2032, growing at a CAGR of 4.80% during the forecast period (2025-2032).
Rapidly increasing demand for fast-drying and better finish paints and coatings around the world is slated to primarily drive the demand for nitrocellulose. Growing awareness regarding the benefits of nitrocellulose for multiple industry verticals is also expected to create new business scope in the future. Rapidly expanding automotive manufacturing and personal care industries will lead to the sales of nitrocellulose over the coming years. Rising disposable income of people has led to a high demand for furniture, which is also expected to favor nitrocellulose demand outlook owing to the high use of it in wood coatings. Increasing use of nitrocellulose in leather finishing and nail polish manufacturing is also projected to create a very opportune setting for new as well as leading nitrocellulose companies across the study period and beyond. Moreover, the high demand for digital printing and growing preference for nitrocellulose-based inks are also estimated to bring in major revenue for nitrocellulose market players going forward. However, volatile raw material pricing, availability of alternatives, safety concerns, and health hazards associated with prolonged exposure are some key constraints that trouble nitrocellulose manufacturers.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
M-grade Cellulose
Fastest Growth
E-grade Cellulose
Growth Rate
4.80% CAGR
Global Nitrocellulose Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Nitrocellulose Market Segments Analysis
Global Nitrocellulose Market is segmented into Product, Application, End Use Industries, and Region. By Product, the market is classified into M Grade Cellulose, E Grade Cellulose, A Grade Cellulose, and Others. Based on the Application, it is categorized into Printing Inks, Automotive Paints, Wood Coatings, Leather Finishes, Nail Varnishes, and Others. Based on End Use Industries, the market is divided into Building & Construction, Textile, Automobile, Aerospace, Personal Care and Cosmetics, Marines, and Others. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Product
M-grade cellulose is projected to account for a dominant share of the global z nitrocellulose market. Low nitrogen content in this grade of nitrocellulose is what allows it to account for a high market share. This grade of nitrocellulose has a higher solubility in more alcohols and features more thermoplasticity making it usable for multiple applications across different industry verticals. Paints, coatings, and printing inks are projected to help this segment maintain its dominance in the future. Almost all nitrocellulose providers can succeed and establish themselves in the global nitrocellulose market if they invest in this segment going forward.
However, the second-largest share is held by the E-grade cellulose segment. With a nitrogen content ranging from 11.8% to 12.3%, this type of nitrocellulose is used mostly in ester-type solvents. E-grade nitrocellulose has more viscosity and durability as compared to M-grade nitrocellulose owing to its higher nitrogen content. This grade of nitrocellulose is used in applications where high mechanical strength is required. Leather coatings and wood coatings are projected to be key applications where the use of E-grade is high.
Analysis by Application
Wood coatings are projected to account for a prominent chunk of the global nitrocellulose market share. Rapidly increasing demand for high-quality wood furniture with excellent finishes around the world is projected to primarily help the dominance of this segment. Increasing disposable income of people and evolving consumer preferences are also expected to provide new opportunities for nitrocellulose companies in wood coating applications over the coming years. Developed as well as developing countries, both are highly opportune for nitrocellulose providers working in this application segment.
Meanwhile, the demand for nitrocellulose in printing ink applications is estimated to rise at an impressive pace across the study period and beyond. The rising use of digital printing in multiple industry verticals and high demand for fast drying inks with better finishes are all contributing to the opportune setting of this segment. Development of special nitrocellulose-based inks for different digital printing applications will offer lucrative business scope for nitrocellulose companies in the long run.
Global Nitrocellulose Market By Product
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Nitrocellulose Market Regional Insights
The Asia-Pacific region is expected to account for a major chunk of the global nitrocellulose market share. The presence of established paints & coatings industry coupled with high automotive manufacturing activity allows this region to spearhead the global nitrocellulose demand outlook. India, China, and Japan are estimated to be the most rewarding markets for nitrocellulose providers operating in this region. Low labor costs and supportive government initiatives for manufacturers are attracting many manufacturers to this region, thereby favoring nitrocellulose sales as well. Moreover, the presence of key nitrocellulose importers and exporters of nitrocellulose in this region also aids its dominance going forward.
On the other hand, the demand for nitrocellulose in Europe is expected to increase at a notable CAGR over the coming years. The presence of key automotive manufacturers and rising demand for better paints and coatings are helping boost sales of nitrocellulose in this region. Moreover, the presence of multiple packaging companies and rising use of digital printing in this region are also estimated to create new opportunities for nitrocellulose providers going forward. Canada and the United States remain the top markets for nitrocellulose companies in this region.
Global Nitrocellulose Market By Region
- Largest
- Fastest
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Nitrocellulose Market Dynamics
Drivers
High Use in Paints and Coatings
- Due to its characteristic properties of fast drying smooth finish, and glossy appearance, the use of nitrocellulose is increasing rapidly in the paints & coatings industry around the world. Growing demand for better finish paints and coating from multiple industry verticals is forecasted to drive market growth over the coming years.
Rising Use in Nail Polish Manufacturing
- Emphasis on aesthetics has increased rapidly around the world, thereby making the personal care industry one of the most opportune ones in the world. Growing sales of nail polishes around the world and high use of nitrocellulose in its manufacturing are also expected to favor nitrocellulose market development going forward.
Restraints
Safety Concerns with Handling of Nitrocellulose
- Nitrocellulose is highly volatile and flammable, making it difficult to deal with and raising serious safety concerns. Transporting and using such material becomes tedious for all companies involved thereby impeding demand for nitrocellulose in the long run across the world and potentially even hurting the application scope as well.
Volatility in Raw Material Pricing and Availability
- Nitrocellulose production depends on multiple raw materials, which are constantly fluctuating in pricing and availability due to changes in economic conditions and supply chain disruptions. Cellulose and nitric acid are the main raw materials for nitrocellulose production, and they are also subject to fluctuations thereby slowing down market growth potential.
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Nitrocellulose Market Competitive Landscape
Addressing the issue of safety and raw material pricing should be the prime focus on nitrocellulose providers if they want to maximize their business scope. Investing in the development of novel nitrocellulose formulations to widen application scope will also offer lucrative opportunities for market growth in the future. Targeting countries with established paints and coatings industries will offer rewarding returns for nitrocellulose companies in the long run.
Top Players in Nitrocellulose Market
- Nitro Chemical Industry Co., Ltd.
- T.N.C. Industrial Co., Ltd.
- Hubei Xufei Chemical Co., Ltd.
- Jiangsu Tailida Group
- Sichuan North Nitrocellulose Corporation (SNC)
- Nitrex Chemicals India Pvt. Ltd.
- Nobel NC
- Synthesia A.S.
- IVM Chemicals
- DuPont de Nemours Inc.
- GRN Cellulose Pvt. Ltd.
- Hagedorn NC
- EURENCO
- Asahi Kasei Chemicals Corp.
- Hubei Xufei Chemical Co. Ltd.
- Nitroparis SAS
- Rayonier Advanced Materials
- Rheinmetall AG
- Nantong Tailida
- The Nitrocellulose Group
Recent Developments
- EURENCO, a renowned provider of nitrocellulose and other materials from Europe announced the consolidation of its partnership with Saab in July 2024. Through this move EURENCO secured orders till 2028 with the potential of more long-term orders from Saab in the future.
- Nitro Química, a leading supplier of nitrocellulose based in Brazil entered the agrichemical business in February 2022. The company is known for its robust nitrocellulose expertise and with its expansion into other verticals it is projected to further expand its market presence in the long run.
Nitrocellulose Key Market Trends
- Development of Bio-based Nitrocellulose: Nitrocellulose made from biodegradable and natural materials to capitalize on the sustainability trend will be a key strategy for market players in the future. Growing efforts of companies to reduce reliance on fossil fuels and increasing shift towards renewable energy will also favor sales of bio-based nitrocellulose in the long run.
- Rising Use in Digital Printing: Rapidly increasing demand for digital printing across multiple industry verticals is predicted to create new opportunities for nitrocellulose companies providing nitrocellulose-based inks. Preference for nitrocellulose-based inks is estimated to awareness regarding their fast drying and better finish characteristics increases globally.
Nitrocellulose Market SkyQuest Analysis
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, high demand for nail polish manufacturing and growing demand for paints and coatings are slated to primarily bolster nitrocellulose market growth. However, safety concerns and volatile raw material pricing are estimated to slow down the demand for nitrocellulose going forward. The Asia Pacific region is estimated to spearhead the global nitrocellulose market growth owing to robust industrialization and urbanization in countries such as China and India. Incorporation of sustainability is expected to offer lucrative opportunities for nitrocellulose providers in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 823.94 Million |
| Market size value in 2032 | USD 1256.45 Million |
| Growth Rate | 4.80% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Nitrocellulose Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Nitrocellulose Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Nitrocellulose Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Nitrocellulose Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Nitrocellulose Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Nitrocellulose Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Nitrocellulose Market Report Snapshots
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