Vietnam Nitrocellulose Market Size & Outlook, 2023-2030
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Vietnam nitrocellulose market highlights
- The Vietnam nitrocellulose market generated a revenue of USD 8.1 million in 2023 and is expected to reach USD 12.4 million by 2030.
- The Vietnam market is expected to grow at a CAGR of 6.3% from 2024 to 2030.
- In terms of segment, printing inks was the largest revenue generating application in 2023.
- Leather Finishes is the most lucrative application segment registering the fastest growth during the forecast period.
Nitrocellulose market data book summary
| Market revenue in 2023 | USD 8.1 million |
| Market revenue in 2030 | USD 12.4 million |
| Growth rate | 6.3% (CAGR from 2023 to 2030) |
| Largest segment | Printing inks |
| Fastest growing segment | Leather Finishes |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Printing Inks, Automotive Paints, Wood Coatings, Leather Finishes, Nail Varnishes, Other Applications |
| Key market players worldwide | Tennant Co, Noble Corp PLC Class A, Nitro, Hubei Aging Chemical Co., Sichuan Nitrocell, Nitrex, Synthesia, IVM Chemicals |
Other key industry trends
- In terms of revenue, Vietnam accounted for 1.0% of the global nitrocellulose market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China nitrocellulose market is projected to lead the regional market in terms of revenue in 2030.
- Vietnam is the fastest growing regional market in Asia Pacific and is projected to reach USD 12.4 million by 2030.
Printing inks was the largest segment with a revenue share of 27.16% in 2023. Horizon Databook has segmented the Vietnam nitrocellulose market based on printing inks, automotive paints, wood coatings, leather finishes, nail varnishes, other applications covering the revenue growth of each sub-segment from 2018 to 2030.
Major application of nitrocellulose in Vietnam is in printing inks sector. As the packaging and logistic industry is growing, use for nitrocellulose for manufacturing printing inks is also growing. Vietnam is the major importer of nitrocellulose in Asia Pacific, but in 2015 import of nitrocellulose has reduced markedly.
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Nitrocellulose Market Scope
Nitrocellulose Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| IVM Chemicals | View profile | 501-1000 | Parona, Lombardia, Italy, Europe | http://www.ivmchemicals.com/it/ |
| Nitrex | View profile | 51-100 | New Delhi, Delhi, India, Asia | http://www.nitrex.in |
| Sichuan Nitrocell | View profile | 1001-5000 | Chengdu, Sichuan, China, Asia | http://www.sn-nc.com |
| Hubei Aging Chemical Co. | View profile | 51-100 | Wuhan, Hubei, China, Asia | https://www.aging-chem.com |
| Nitro | View profile | 101-250 | San Francisco, California, United States, North America | http://www.gonitro.com |
| Synthesia | View profile | 251-500 | London, England, United Kingdom, Europe | http://www.synthesia.io |
| Tennant Co | View profile | 4457 | 10400 Clean Street, Eden Prairie, MN, United States, 55344 | https://www.tennantco.com |
| Noble Corp PLC Class A | View profile | 3600 | 13135 Dairy Ashford, Suite 800, Sugar Land, TX, United States, 77478 | https://www.noblecorp.com |
Vietnam nitrocellulose market size, by application, 2018-2030 (US$M)
Vietnam Nitrocellulose Market Outlook Share, 2023 & 2030 (US$M)
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