Canada Nitrocellulose Market Size & Outlook, 2023-2030
Canada nitrocellulose market, 2018-2030 (US$M)
Related Markets
Canada nitrocellulose market highlights
- The Canada nitrocellulose market generated a revenue of USD 8.8 million in 2023 and is expected to reach USD 11.1 million by 2030.
- The Canada market is expected to grow at a CAGR of 3.3% from 2024 to 2030.
- In terms of segment, printing inks was the largest revenue generating application in 2023.
- Other Applications is the most lucrative application segment registering the fastest growth during the forecast period.
Nitrocellulose market data book summary
| Market revenue in 2023 | USD 8.8 million |
| Market revenue in 2030 | USD 11.1 million |
| Growth rate | 3.3% (CAGR from 2023 to 2030) |
| Largest segment | Printing inks |
| Fastest growing segment | Other Applications |
| 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, Canada accounted for 1.1% of the global nitrocellulose market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. nitrocellulose market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 178.4 million by 2030.
Printing inks was the largest segment with a revenue share of 28.41% in 2023. Horizon Databook has segmented the Canada 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.
Through the above figure, it can be understood that over half of the capital costs/investment is accounted for machinery & equipment purchases, while building & land/site cost accounts for nearly 21.15% and the remaining share distributed among the labor (working capital) and miscellaneous installation cost.
When entrepreneurs set up a plant, they need laborers to work on their machinery & equipment for manufacturing the final product, hence, the wages paid to the workers are accounted and considered under the initial cost. The working capital accounts for almost 23.95% of the total production cost due to the technical knowledge and education of workers.
Other costs that come into play other than capital/fixed investment include pre-operational costs and working capital. Pre-operating costs include installation, setup, capitalized interests, project engineering & management, and commissioning costs. The figure given below provides a breakdown of the overall initial investment required for a plant to be operational at full capacity.
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Nitrocellulose Market Scope
Nitrocellulose Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada nitrocellulose market size, by application, 2018-2030 (US$M)
Canada Nitrocellulose Market Outlook Share, 2023 & 2030 (US$M)
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