India Nitrocellulose Market size was valued at USD 39 million in 2017 and is expected to witness growth of more than 8.4% CAGR from 2018 to 2024.
India Nitrocellulose Market, By Product, 2013 – 2024 (USD Million)
Growing applications in large end-use industries such as furniture, cosmetics, printing inks and automotive mainly stimulating nitrocellulose demand in India. Emerging socio-economic position, infrastructure development, rapid urbanization are key factors driving the nitrocellulose market penetration in the country.
Nitrocellulose compound is highly inflammable in nature. It is produced from reacting cellulose with nitric acid. Military grade is prepared at various ammunition centres in a process where cellulose is nitrated with concentrated nitric and sulfuric acids. It is also used as a component for combustible cartridge cases. Amine blends have been researched by decades and resulted to be the most suitable blends for explosives due to their stability and long-life fostering industry share.
Nitrocellulose is used as a principal ingredient in gun & mortar propellants and ball powder propelling market share. Major applications include indoor fireworks, sealants, adhesives, cosmetics, hair colouring and artificial jewellery are projected to witness a significant growth in India.
Nitrocellulose has large application in leather industry. Indian leather industry reported around 12 % in global leather industry. Sector contributing significantly in the economy owing to large domestic production with high international exports propelling industry growth. The export of leather and related product observing significant growth from past few years. Large availability of raw materials, cheap labour cost majorly supporting nitrocellulose market size.
Bureau of Indian Standards (BIS) also closely monitors all imports into the country and implemented stringent manufacturing methods within the country for various industrial grades of nitrocellulose. Scarcity of raw material for manufacturing different industrial grades majorly limiting market growth.
Stringent regulatory framework owing to industrial cellulose’s close similarity to explosive grade may hinder the market growth. Due to its high flammability and toxic nature, it has been classified as harmful substance in the country hindering product demand. Growing health concerns, particularly in the nail varnish application in the cosmetic industry are expected to moderately impact the Indian market share.
Printing is likely to experience more than 9% CAGR up to 2024. The high product adoption for manufacturing process in large industrial applications fuelling product demand. Nitrocellulose used as a key component in gravure and flexographic inks specially in the packaging industry. These inks are preferred due to fast drying capability, good adhesion to the material supporting market growth. High compatibility with wide range additives including resins, plasticizers, and pigments stimulating industry share.
Automotive paints market accounted over USD 10 million in 2027. Indian automotive industry is the third biggest industry in the Asia market. Automotive industry growth owing to large consumer base, rising population and increasing disposable income are among key factors propelling product portfolio. Automotive paints are multi-layer coating to enhance aesthetic appearance of vehicles boosting market size. Key usage in raw material manufacturing such as binders, thinner, and pigments primarily augmenting industry share in the country.
Wood coating market is anticipated to witness more than 9.2% CAGR from 2018 to 2024. Infrastructure development in the residential construction coupled with improved consumer spending boosting segment growth. Nitrocellulose has a major application in wood coating as an additive for decking, furniture sliding doors, and windows. Furthermore, the development of the architecture and construction industry escalating the market growth across the country.
Nitrocellulose military segment registered over USD 2 million in 2017. Defence and military application incorporate artillery, ammunitions, mortars, tanks, rifles and pistols. Presently dynamite and military evaluations of using mass linters fuelling product demand. Propellants contains smokeless gunpowder majorly used for military applications specially for propelling projectiles increasing product portfolio.
Major companies offering nitrocellulose are Nitrex Chemicals, GRN Cellulose, N. Shashikant & Company, SD Chemicals, Prime Aerosols, Sai Chem, MSK Products and Nav Bharat Paints. Other key players are Chemico Paints, Peekay Agencies, India Dye Chem, Asha Penn Color, Esson, Sunrise Enterprises capturing large market share in the country. Manufacturing companies are focusing on improving product quality by enhancing eco-friendly grade for further industrial application.
The product is mainly utilized in printing ink, nail coating & varnishes, leather material and other industrial applications. In India, Bureau of Indian Standards governs nitrocellulose manufacturing in different industrial applications such as binders, thinners, surfacers (IS 6126) and lacquer (IS 5691). Local market however has placed more focus on the aromatic ester blends of nitrocellulose that are less stable and cheaper to produce mainly boosting market size. Growing population, rising disposable income, and elevated industrialization in the country are key factors for industry expansion.