Asia Pacific Nitrocellulose Market Research Report 2024-2030
Asia Pacific Nitrocellulose Market Research Report 2024-2030
The Asia Pacific Nitrocellulose market size was valued at US$ 678.3 million in 2024 and is projected to reach US$ 842.7 million by 2030, at a CAGR of 3.7% during the forecast period 2024-2030.
Nitrocellulose is a highly flammable compound derived from cellulose, used in various applications including lacquers, printing inks, explosives, and as a film base in photography and x-ray films.
The Asia Pacific nitrocellulose market is growing steadily, driven by demand from the automotive refinish, wood coatings, and printing ink industries. China accounts for 40% of the market, followed by India at 25% and Japan at 15%. In 2023, the coatings industry consumed 55% of total production, with printing inks at 25% and explosives at 15%. The market experienced a 6% growth in demand from the packaging industry for flexible packaging applications. Key players include Nitro Qu
