Nitrocellulose Market Trends

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.