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Recent research: Nitrocellulose market to grow at - 6.92% CAGR to 2021

Recent research: Nitrocellulose market to grow at - 6.92% CAGR to 2021

Global Nitrocellulose Market 2017-2021 report considers the retail selling price the average selling price of the product.

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Commenting on the nitrocellulose marketreport, an analyst from said: “The latest trend gaining momentum in the market is Growing popularity of natural wood coating technology. Over the past few years, vendors in the chemical industry have been focusing on sustainable processes that have a minimal impact on the environment.

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The analysts forecast global nitrocellulose market to grow at a CAGR of 6.92% during the period 2017-2021.

This report covers the present scenario and the growth prospects of the global nitrocellulose market for 2017-2021.

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To calculate the market size, the report considers the retail selling price the average selling price of the product.

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Main players in the global nitrocellulose market: DowDuPont, Manuco, Nitro Química, Synthesia, and Tembec. Other Prominent Vendors in the market are: Eurenco, Hagedorn, HENGSHUI ORIENT CHEMICAL CO., Jiangsu Tailida Group, Nitrex Chemicals India, Nitro Chemical Industry, Nitrochemie, and T.N.C. INDUSTRIAL.

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Further, the report states that one of the major factors hindering the growth of this market is Volatile prices of raw materials used in paint production. The oil and gas industry is one of the key suppliers of raw materials that are used in the production of paints.

The acrylic segment holds a major share in the global paint additives market. Raw materials such as propylene or acetylene (used in the production of acrylic acid) are derived from petroleum fractions.

Increase in the price of crude oil has a severe effect on the prices of raw materials, which adversely affects the paints market and thereby impacting the global nitrocellulose market.

Nitrocellulose is also known as cellulose nitrate that is a mixture of nitric esters of cellulose and nitric acid. Though the compound is highly flammable, it is non-toxic in nature.

It can be used in various industries by altering the percentage of nitrogen content in the compound. Nitrocellulose appears as pulpy cotton like solid when dry and clear liquid to semi-solid when dissolved in alcohol, acetone, or an ether-alcohol mixture.

Nitrocellulose containing a low concentration of nitrogen is soluble in acetone but not in an ether-alcohol mixture.

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