Nitrocellulose Market to Record an Exponential CAGR by 2023

Nitrocellulose is a highly inflammable compound produced by nitrating cellulose by exposure to nitric acid or other powerful nitrating agent. Nitrocellulose when utilized as a low-order explosive or propellant it is known as guncotton. Moreover, if cellulose is not fully nitrated, then it can be used as a plastic film and also in wood coatings and printing inks. The growing demand for nitrocellulose from such a diverse range of applications such as explosives, printing inks, wood coatings and plastic films across the globe is expected to drive the global nitrocellulose market in the next six years.

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Nitrocellulose is a chief component of smokeless gunpowder. Moreover, nitrocellulose is used for immobilizing nucleic acids in Northern blots and Southern blots in nuclear biology. Nitrocellulose is also utilized for immobilization of proteins in Western blots, owing to its non-specific affinity for amino acids. Furthermore, nitrocellulose is broadly used as support in diagnostic tests such as U-Albumin tests, pregnancy tests and CRP. Additionally, nitrocellulose, when dissolved in ether or another organic solvents, the solution is called as collodion. This solution is used as a carrier of topical medications and as a wound dressing. The other applications of nitrocellulose include nail polish and hair coloring. Nitrocellulose lacquer and paint are also used in the manufacture of guitars. In addition, nitrocellulose lacquer is used as an aircraft dope for providing protection to the aircraft material. The growing demand for nitrocellulose in all such wide range of applications is expected to drive the global nitrocellulose market in the next few years.

Asia Pacific is expected to be the fastest growing market for nitrocellulose in the next few years. The major reason for this is the growing demand for nitrocellulose in developing Asian countries such as India, China, Malaysia, Indonesia and Thailand. Additionally, the increased demand for personal care products from middle class population in developing countries which is growing at an extensive rate is eventually resulting in an increase in the overall customer base. Furthermore, the rapid economic development of these countries and augmented disposable income of the citizens of these countries has led to further escalation of the total customer base in these countries for applications in a wide variety of cosmetics products. There is a massive market potential for cosmetics, paints and coatings and printing inks industries in the countries such as India, China, Indonesia, Thailand and Brazil. Owing to this, the demand for nitrocellulose application products is expected to grow at a notable rate in the next few years. This will eventually generate a huge demand for nitrocellulose in these emerging nations.

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The rapidly growing cosmetics, paints and coatings and printing inks industries across the globe, especially in the emergent countries, are anticipated to drive the global nitrocellulose market in the next few years. In addition to this, the developed regions across the U.S. and European countries are progressively recovering from the sluggish economic conditions. Considering this outlook, the demand for nitrocellulose application products is expected to record an outstanding growth in the next few years. The major players operating in the nitrocellulose market are primarily focusing on the developing countries for tapping their vast market potential. These companies are installing huge production facilities in the developing countries to fulfill the quickly rising demand for nitrocellulose. Therefore, the global nitrocellulose market is projected to experience a significant growth in the next six years.

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