Technavio Reports on Global Nitrocellulose Market 2017-2021

Technavio’s Global Nitrocellulose Market 2017-2021 identifies DowDuPont, Manuco, Nitro Química, Synthesia, and Tembec as the leading players in the global nitrocellulose market. A comprehensive analysis of this market is also presented by application (leather finishes, wood coatings, automotive paints, printing inks, and others) and by geography (the Americas, APAC, and EMEA).
 
Overview of the global nitrocellulose market
 
Cellulose produced from plants is used in numerous products due to its unique structure and multiple functions. The key sources of cellulose include wood and plant fibers such as cotton, hemp, flax, and jute. Cellulose is a crucial polysaccharidea, which is organic in nature and is found in abundance. It easily reacts with acids and bases and is one of the major raw materials that is used in the production of nitrocellulose.
 
The formation of nitrocellulose involves a mixture of a cotton ball, concentrated nitric acid, and sulfuric acid in a ratio of 2:1 by volume. The solution obtained from the mixture is then cooled to a temperature below 25˚F. Finally, the processed flash cotton is cleaned with cold water. This manufacturing process of nitrocellulose is simple in comparison to other substitutes.
 
Research analysis on the global nitrocellulose market identifies that the simple manufacturing process of nitrocellulose will be one of the major factors that will have a positive impact on the growth of the market. Technavio’s market research analysts predict that this market will grow at a CAGR of close to 7% by 2021.
 
Nitrocellulose is used as a propellant or low order explosive. The international military community extensively relies on propellants that contain nitrocellulose for propelling projectiles. Nitrocellulose is highly preferred in small arms propellants because it has an exceptional chemical energy that is required to propel a projectile. The increasing use of nitrocellulose powder as propellants is identified as one of the key trends that will stimulate growth in the global nitrocellulose market during the estimated period.
 
Competitive landscape and key vendors
 
The nitrocellulose market is fragmented and characterized by the presence of many small and big players. These vendors are increasingly competing against each other based on factors such as operation cost, price, economies of scale, product quality, and innovation. Some vendors are trying to survive in this competitive cellulose fiber market through superior technological and financial resources.
 
Other prominent vendors in the market include Eurenco, Hagedorn, Hengshui Orient Chemical Co., Jiangsu Tailida Group, Nitrex Chemicals India, Nitro Chemical Industry, Nitrochemie, and T.N.C. Industrial.
 
One of the key ingredients in ink formulation is nitrocellulose, which accounts for 8%-10% of the compound. The printing inks industry extensively prefer nitrocellulose because it is inexpensive, dries quickly, and resists heat. The cellulose fiber market will continue to grow in the printing ink segment for the next four years because nitrocellulose is odorless, non-toxic, and soluble in organic solvents.
 
The rising investments in all key segments such as the automotive paints and wood coatings in emerging countries including India, China, and other ASEAN countries is driving the adoption of nitrocellulose. This is mainly due to its extensive use as nitrocellulose lacquer, nitrocellulose lacquer spray, nitrocellulose paint, and nitrocellulose spray paint. The demand for nitrocellulose will continue to increase in APAC for the next four years due to the rising disposable incomes and rapid globalization.
 
The increasing demand for printing inks and cosmetics coming from APAC is one of the major factors driving the growth of the global nitrocellulose market. Although the market presents substantial growth opportunities, its growth is limited owing to the harmful and hazardous effects of nitrocellulose.