The Europe Nitrocellulose Market would witness market growth of 5.64% CAGR during the forecast period (2019-2025). The Germany market dominated the Europe Nitrocellulose Market by Country in 2018, and would continue to be a dominant market till 2025; thereby, growing at a CAGR of 4.9 % during the forecast period. Additionally, The France market is expected to witness a CAGR of 6.9% during (2019 - 2025).
Nitrocellulose is an extremely inflammable material formed from the exposure of nitrating cellulose to nitric acid or different potent nitrating agents. As a distinguished property, nitrocellulose can set to fire without air supply due to its molecular structure which contains sufficient oxygen. Nitrocellulose is also commonly known as cellulose nitrate, flash cotton, flash paper, flash string and guncotton. Nitrocellulose widely found its application in the manufacturing of plastic films and paints & coatings sector especially among the emerging economies especially in Asian region.
As the major strategies the market participants are focusing on widening their product portfolio, enhancing the production capacity with expansion into low cost regions especially in Asia Pacific geographies. Also, the companies are going for partnerships and collaborations with regional players to expand the geographical reach. For instance, in 2016, Nippon Paint India announced its partnership with IVM Chemicals based in Italy for promotion of its wood coating product portfolio based on Japanese technology. According to the agreement, brands such as Milesi, Ilva and Croma Lacke from IVM Chemicals were to be marketed by Nippon in Indian wood coatings market.
Due to technological breakthroughs and fast growing job market, especially in the developing regions has given rise to better standards of living. The noticeable growth in the disposable income has allowed individuals to spend more on luxurious products. As per Office for National Statistics (ONS), gross disposable household income (GDHI) per person has increased in all regions of the U.K. between 2016 and 2017. Therefore, the growth in the disposable income would be a major factor that would drive the market for the application industries such as Automobile, Furniture and Cosmetics among others.
The report highlights the adoption of Nitrocellulose in Europe. Based on Application, the market is segmented into Printing Inks, Wood Coatings, Automotive Paints, Leather Finishes, Nail Varnishes and Other Applications. The report also covers geographical segmentation of Nitrocellulose market. The countries included in the report are Germany, UK, France, Russia, Spain, Italy and Rest of Europe.
The major market players expanding their reach in the Europe Nitrocellulose market are The Dow Chemical Company, Eastman Chemical Company, Nippon Paints Holdings Co. Ltd., PPG Industries, Inc., Arkema S.A., Akzo Nobel N.V, RPM International, Inc., Sherwin Williams Company, Ashland Global Holdings. Inc, BASF SE.
Market Segmentation:
By Application
By Country
Companies Profiled
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