India Nitrocellulose Market Size & Outlook, 2023-2030
India nitrocellulose market, 2018-2030 (US$M)
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India nitrocellulose market highlights
- The India nitrocellulose market generated a revenue of USD 44.6 million in 2023 and is expected to reach USD 67.3 million by 2030.
- The India market is expected to grow at a CAGR of 6.1% from 2024 to 2030.
- In terms of segment, printing inks was the largest revenue generating application in 2023.
- Printing Inks is the most lucrative application segment registering the fastest growth during the forecast period.
Nitrocellulose market data book summary
| Market revenue in 2023 | USD 44.6 million |
| Market revenue in 2030 | USD 67.3 million |
| Growth rate | 6.1% (CAGR from 2023 to 2030) |
| Largest segment | Printing inks |
| Fastest growing segment | Printing Inks |
| 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, India accounted for 5.4% 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 28.48% in 2023. Horizon Databook has segmented the India 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.
After China, India is the second largest producer and consumer of nitrocellulose in Asia Pacific region. In compare to 2014, export has increased and import has decreased. In India nitrocellulose is mainly used as a raw material for manufacturing printing inks and automotive paints.
As there is a growth in the GDP and per capita income of the individual, there is an increase in the automobile industry, which results in growth in automotive paints. As globalization is increasing packaging industry is also growing and the need for printing inks is growing.
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Nitrocellulose Market Scope
Nitrocellulose Market Companies
| Name | Profile | # Employees | HQ | Website |
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India nitrocellulose market size, by application, 2018-2030 (US$M)
India Nitrocellulose Market Outlook Share, 2023 & 2030 (US$M)
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