As per Market Research Future Analysis, the Nitrocellulose Market was valued at USD 0.9 Billion in 2023 and is projected to reach USD 1.41 Billion by 2032, growing at a CAGR of 5.1% from 2024 to 2032. Nitrocellulose, a flammable compound derived from cellulose, is widely used in applications such as automotive paints, wood coatings, and printing inks due to its properties like durability and fast drying. The market is significantly influenced by the automotive paint industry, although it faces competition from superior substitutes. The COVID-19 pandemic adversely impacted demand across various sectors, particularly automotive paints and printing inks, due to manufacturing disruptions. The Asia-Pacific region holds the largest market share, driven by construction activities and leather finishing demands.
Key trends influencing the Nitrocellulose market include rising demand in automotive paints and eco-friendly inks.
Key players include Nitro Quimica, DuPont Specialty Solutions, Hagedorn AG, Nitro Cellulose Group, and Rayonier Advanced Materials Inc.
  
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Source: Secondary Research, Primary Research, Market Research Future Database, and Analyst Review
Nitrocellulose-based paints find applications in the automotive paint industry as well. These paints possess several favorable qualities, such as quick drying ability and compatibility with a wide range of additives. However, with time, there have been numerous substitutes for nitrocellulose-based paints with properties that are superior to the above-mentioned ones. Nitrocellulose-based paints are one of the oldest types of paints used as automotive paints. These paints have lost their market share over the years due to the availability of superior substitutes. Nitrocellulose lacquer is thin, easy to apply, and provides a glossy finish.
Additionally, there are certain drawbacks as well, such as low resistance to scratches & pollution, low operational life, as well as the emission of large quantities of organic solvents into the atmosphere. The COVID-19 pandemic severely affected the market demand from various end-use industries, such as automotive paints, printing inks, and wood coatings, due to the impact of the nationwide lockdowns and shutting down of manufacturing units. The pandemic had affected the automotive industry, due to which, the production of automobiles had disruptively halted. This further contributed to the decline in the automotive sector, which affected the demand for nitrocellulose used in automotive paints.
A new style of packaging for Fazer's Oat Rice Pies was co-developed in 2024 by UPM Specialty Papers and Fazer. An inventive paper alternative that is simpler to recycle and maintains the safety of the rice pies within has replaced the conventional plastic laminated packaging paper. The WorldStar, ScanStar, and New Wood competitions have acknowledged the award-winning packaging, which is already available in the chilled food sections of Finnish shops. The new packaging for Fazer's Oat Rice Pie is consistent with UPM's Biofore strategy and Fazer's Sustainable Packaging Vision. After more than two years of meticulous development work, the new packaging method guarantees the package's recyclability without sacrificing food safety.
In 2023, Seigwerk launched a new product for paper plates and inner coating for food boxes. The product is water-based DFC barrier coating designed to replace PE and other restricted coating such as single use paper plates.
Rayonier Advanced Materials Inc., a global leader in High Purity Cellulose, 2021 has employed Houlihan Lokey as its financial advisor to review the potential sale of its paperboard and high-yield pulp assets located at its Temiscaming site, thus signaling a significant shift in business strategy that includes reviewing of strategic options with respect to certain businesses it owns and operates as well as merger, acquisition or other similar transactions.
The global Nitrocellulose Market segmentation, based on Application, includes Automotive Paints, Wood Coatings, and Printing Inks. The printing ink application segment dominated the global industry in 2022 and accounted for the highest revenue share of more than 27.85% of the total revenue. Its high share is attributed to technological development and the rise in demand for eco-friendly inks. The printing ink market is both an application and customer-specific based business. Its major applications are in the packaging and logistics industry. It also has a high demand for digital inks, outdoor signage, and inkjet printing. Rising concerns for the environment are influencing the government authorities to modernize the standard of the printing industry. The use of nitrocellulose-based lamination ink in flexography and gravure printing gives high-quality and strong color paint results. These lamination-based inks are trending in the packaging industry because of their high laminated bond strength, no odor, and little solvent retention. Â
The nitrocellulose powder market is experiencing steady growth driven by rising demand in printing inks, automotive paints, and wood coatings. Its quick-drying and high adhesion properties make it a preferred choice for industrial and consumer applications.
Figure 2: Nitrocellulose Market, by Application, 2023 & 2030 (USD Billion)
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Source: Secondary Research, Primary Research, Market Research Future Database, and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. Asia Pacific occupies the major share of the Nitrocellulose Market. The rising construction activities in developing countries are growing the demand for wood coatings. Additionally, the high demand for nitrocellulose for leather finishing is also growing in the nitrocellulose market.
Figure 3: NITROCELLULOSE MARKET SHARE BY REGION 2023 (%)
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Source: Secondary Research, Primary Research, Market Research Future Database, and Analyst ReviewÂ
In Europe, the demand for nitrocellulose is increasing due to the growing consumption of automotive paints due to the presence of major automobile manufacturers. North America has witnessed high demand for nitrocellulose due to growth in the furniture industry for coating wood. In Latin America and the Middle East & Africa, the growth in the nitrocellulose market is primarily because of the high demand for inks.
Major market players are spending a lot of money on R&D to increase their product lines, which will help the Nitrocellulose market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Nitrocellulose industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Nitrocellulose. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their global presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Nitrocellulose industry must offer affordable products.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the global Nitrocellulose industry to benefit customers and expand the market sector. The Low-Profile Additives market has recently given medicine some of the most important advantages. Major Nitrocellulose market players, including Nitro Quimica, Dupont Specialty Solutions, Hagedorn AG, Nitro Cellulose Group, and others, are attempting to increase market demand by funding R&D initiatives.
DuPont Specialty Products USA is a company providing technology-based materials and ingredients. It focuses on electronics, transportation, building and construction, health and wellness, and food and worker safety markets.
Also,
EURENCO is a company specializing in the chemical synthesis and transformation of energetic molecules for the defense and commercial markets. The company develops, manufactures, and provides military explosives, explosives for oil and gas perforation and mining, propellants, combustible items, nitrocellulose, and diesel fuel additives. Its explosive filling and propelling charge solutions are customized for warheads and missiles,
December 2023: DuPont announced today that Coryor Surface Treatment Company Ltd and Nippon Paint Taiwan have unveiled a range of novel products, among them being printed Tedlar PVF solutions and PVF coating in Taipei Building Show, which is the largest building materials exhibition in Taiwan.
October 2023: Rayonier Advanced Materials Inc., a global leader in High Purity Cellulose, announced that it had hired Houlihan Lokey as its financial adviser to explore the possible sale of its paperboard and high-yield pulp assets located at Temiscaming.
DuPont established new relationships in 2023 with Coryor Surface Treatment Company and Nippon Paint Taiwan, where each company introduced innovative products, including printed Tedlar PVF solutions and PVF coatings, during the Taipei Building Show held in Taiwan’s biggest trade fair for construction materials. These were strategically done during Taipei’s Largest Building Materials Exhibition, showing improvements in surface treatment technologies.
Nitro QuÃmica, one of the world’s leading nitrocellulose manufacturers, diversified into Brazilian agribusiness through strategic acquisitions made in 2023. As part of this move, Nitro QuÃmica enters into agribusiness operations, thereby expanding its portfolio beyond traditional chemical production activities.
Hubei Xingfa Chemicals Group has executed an Equity Purchase Agreement to acquire an additional 18.785% minority stake in Hubei Taisheng Chemical from ABC Financial Asset Investment at CNY 510 million cash outlay on September 13th, 2021. The deal was funded internally.
| Attribute/Metric | Details |
| Market Size 2023 | USD Â 0.9 Billion |
| Market Size 2024 | USD 0.95 Billion |
| Market Size 2032 | USD 1.41 Billion |
| Compound Annual Growth Rate (CAGR) | 5.1% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018 & 2020 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Atomax Chemicals Co., Ltd., Nitro Quimica, Hubei Xuefei Chemical, Hengshui Orient Chemical Co., Ltd., Nobel NC, IVM Chemicals, Synthesia, Nantong Tailida Chemical Co., Ltd., and Nitro Chemical Industry Co., Ltd. |
| Key Market Opportunities | ·        Excellent adhesion ·        Superior drying properties ·        High solubility. |
| Key Market Dynamics | · Better adhesion  Non-reactivity to other paints. |
Nitrocellulose Market Highlights:
Frequently Asked Questions (FAQ):
The Nitrocellulose Market size was valued at USD 0.9 Billion in 2023.
The global market is projected to grow at a CAGR of 5.1% during the forecast period, 2024-2032.
Asia Pacific had the largest share of the Nitrocellulose Market.
The key players in the market are Atomax Chemicals Co., Ltd., Nitro Quimica, Hubei Xuefei Chemical, Hengshui Orient Chemical Co., Ltd., Nobel NC, IVM Chemicals, Synthesia, Nantong Tailida Chemical Co., Ltd., and Nitro Chemical Industry Co., Ltd.
The printing ink categories dominated the market in 2023.
TABLE OF CONTENTS
1 Executive Summary
2 Scope of The Report
2.1 Market Definition
2.2 Scope of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Five Forces Analysis
4.1.1 Threat of New Entrants
4.1.2 Bargaining power of buyers
4.1.3 Threat of substitutes
4.1.4 Segment rivalry
4.2 Value Chain/Supply Chain of Global Nitrocellulose Market
5 Industry Overview of Global Nitrocellulose Market
5.1 Introduction
5.2 Growth Drivers
5.3 Impact analysis
5.4 Market Challenges
5.5 Impact analysis
6 Market Trends
6.1 Introduction
6.2 Growth Trends
6.3 Impact analysis
7. Global Nitrocellulose Market by Region
8. Global Market by Product (M grade cellulose E grade cellulose and others)
9. Global Market by Application (Printing inks automotive paints wood coatings leather finishes nail varnishes and others)
10. Company Profiles
10.1 Atomax Chemicals Co.
10.1.1 Overview
10.1.2 Financials
10.1.3 Product Portfolio
10.1.4 Business Strategies
10.1.5 Recent Development
10.2 Nitro Quimica
10.2.1 Overview
10.2.2 Financials
10.2.3 Product Portfolio
10.2.4 Business Strategies
10.2.5 Recent Development
10.3 Hubei Xuefei Chemical
10.3.1 Overview
10.3.2 Financials
10.3.3 Product Portfolio
10.3.4 Business Strategies
10.3.5 Recent Development
10.4 Hengshui Orient Chemical Co. Ltd
10.4.1 Overview
10.4.2 Financials
10.4.3 Product Portfolio
10.4.4 Business Strategies
10.4.5 Recent Development
10.5 Nobel NC
10.5.1 Overview
10.5.2 Financials
10.5.3 Product Portfolio
10.5.4 Business Strategies
10.5.5 Recent Development
10.6 IVM Chemicals
10.6.1 Overview
10.6.2 Financials
10.6.3 Product Portfolio
10.6.4 Business Strategies
10.6.5 Recent Development
10.7 Synthesia
10.7.1 Overview
10.7.2 Financials
10.7.3 Product Portfolio
10.7.4 Business Strategies
10.7.5 Recent Development
10.8 antong Tailida Chemical Co. Ltd
10.8.1 Overview
10.8.2 Financials
10.8.3 Product Portfolio
10.8.4 Business Strategies
10.8.5 Recent Development
10.9 Nitro Chemical Industry Co. Ltd
10.9.1 Overview
10.9.2 Financials
10.9.3 Product Portfolio
10.9.4 Business Strategies
10.9.5 Recent Development
10.10 Baoding Baofeng Nitrocell
10.10.1 Overview
10.10.2 Financials
10.10.3 Product Portfolio
10.10.4 Recent Development
11 Conclusion
LIST OF TABLES
Table 1 World Population by Major Regions (2024 To 2032) (Billion)
Table 2 Global Nitrocellulose Market By Region 2024 To 2032 (USD Billion)
Table 3 North America Nitrocellulose Market By Country 2024 To 2032 (USD Billion)
Table 4 Europe Nitrocellulose Market By Country 2024 To 2032 (USD Billion)
Table 5 Asia-Pacific Nitrocellulose Market By Country 2024 To 2032 (USD Billion)
Table 6 RoW Nitrocellulose Market By Country 2024 To 2032 (USD Billion)
Table 7 Global Nitrocellulose for Product Type Market By Regions 2024 To 2032 (USD Billion)
Table 8 North America Nitrocellulose for Product Type Market By Country 2024 To 2032 (USD Billion)
Table 9 Europe Nitrocellulose for Product Type Market By Country 2024 To 2032 (USD Billion)
Table 10 Asia-Pacific Nitrocellulose for Product Type Market By Country 2024 To 2032 (USD Billion)
Table 11 RoW Nitrocellulose for Product Type Market By Country 2024 To 2032 (USD Billion)
Table 12 North America Nitrocellulose or Application Market By Country 2024 To 2032 (USD Billion)
Table 13 Europe Nitrocellulose for Application Market By Country 2024 To 2032 (USD Billion)
Table 14 Asia-Pacific Nitrocellulose for Application Market By Country 2024 To 2032 (USD Billion)
Table 15 RoW Nitrocellulose for Application Market By Country 2024 To 2032 (USD Billion)
Table 16 Global Nitrocellulose Application Market By Region 2024 To 2032 (USD Billion)
Table 17 North America Nitrocellulose for Application Market By Country 2024 To 2032 (USD Billion)
Table 18 Europe Nitrocellulose for Application Market By Country 2024 To 2032 (USD Billion)
Table 19 Asia-Pacific Nitrocellulose for Application Market By Country 2024 To 2032 (USD Billion)
Table 20 RoW Nitrocellulose for Application Market By Country 2024 To 2032 (USD Billion)
Table 21 Global Product Type Market By Region 2024 To 2032 (USD Billion)
Table 22 Global Application Market By Region 2024 To 2032 (USD Billion)
Table 23 North America Market By Country (USD Billion)
Table 24 North America Market By Product Type (Billion USD)
Table 25 North America Market By Application (Billion USD)
Table 26 Europe Market By Country (USD Billion)
Table 27 Europe Market By Product Type (USD Billion)
Table 28 Europe Market By Application (USD Billion)
Table 29 Asia-Pacific Market By Country (USD Billion)
Table 30 Asia-Pacific Market By Product Type (USD Billion)
Table 31 Asia-Pacific Market By Application (USD Billion)
Table 32 RoW Market By Country (USD Billion)
Table 33 RoW Market By Product Type (USD Billion)
Table 34 RoW Market By Application (USD Billion)
LIST OF FIGURES
FIGURE 1 Global Nitrocellulose market segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Five Forces Analysis of Global Nitrocellulose Market
FIGURE 4 Value Chain of Global Nitrocellulose Market
FIGURE 5 Share of Global Nitrocellulose Market in 2024 by country (in %)
FIGURE 6 Global Nitrocellulose Market 2024 To 2032 (USD billion)
FIGURE 7 Sub-segments of Applications
FIGURE 9 Share of Global Nitrocellulose Market by Application 2024 to 2032
FIGURE 10 Global Nitrocellulose Market size by Product Type 2024
FIGURE 11 Share of Global Nitrocellulose Market by Product Type 2024 to 2032
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Research Analyst Level I In her 3 years of experience in the market research field, she has handled critical cross-domain projects. she has an in-depth knowledge of market estimation & analysis, problem-solving, primary as well as secondary research, and team management.she holds an engineering degree and is an mba professional from a well-known university, capable of evaluating the market and competitive conditions. an exceptional strategist with excellent communication skills and a passion for delivering cutting-edge & practical insights for the market. proficient in multi-tasking, and can successfully deal with competing demands, while maintaining complete confidentiality. generated business through active client and project development, networking, and high-quality responses. her knowledge and skills have helped in making solid business decisions, securing funding from investors, and avoiding business failures.
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