The global nitrocellulose market(Making Nitrocellulose) size was valued to be worth USD 887.24 million in 2022. From 2023 to 2032, it is estimated to reach USD 1482 million growing at a CAGR of 5.4%.
This growth in product demand can be attributed to rising demand in printing inks, paints & coatings, as well as other end-use industries. The growing demand for automotive paints, together with increasing environmental awareness and better efficacy provided by hybrid and electric vehicles, is anticipated to drive market revenue growth over the forecast period.
Nitrocellulose, also referred to as cellulose nitrate, is a combination of cellulose nitric esters and an explosive compound used in modern gunpowder. It is highly inflammable in nature. Its superior adhesion properties and non-reactivity to paints have been driving revenue growth in this market. Due to the rising global demand for printing ink in the packaging industries,(Nitrocellulose Ink)there has recently been an increase in printing ink applications, which should continue to fuel market expansion over the forecast period.
Increased Demand for Paints and Coatings: Nitrocellulose is widely used in the production of paints and coatings because of its superior adhesion, durability, and chemical and abrasion resistance. As high-performance coatings become more important in industries like automotive, construction, and aerospace, nitrocellulose’s demand is expected to keep rising.
Growth of the Printing Ink Industry: Nitrocellulose is used as a binding agent in printing inks. As the printing industry, particularly in emerging economies, expands, so does the demand for nitrocellulose-based inks.
Nitrocellulose: Nitrocellulose is an integral part of explosive production, like gunpowder and smokeless powder. With the growing need for explosives in military, mining, and construction applications, nitrocellulose supply is also on the rise.
Increased Demand for Adhesives: Nitrocellulose is increasingly being utilized as a binder in adhesive production, particularly within the woodworking and paper industries. As these industries expand, so too does the need for nitrocellulose-based adhesives.
Environmental Regulations: Nitrocellulose is an environmentally hazardous material, so its production and use are subject to stringent environmental regulations. With the growing emphasis on environmental sustainability, there has been an inclination toward eco-friendly alternatives to nitrocellulose which has spurred innovation and research into developing new materials.
Post time: Aug-31-2023