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Cellulose Esters Market | 2023-2028
Cellulose Esters Market Size, Share, Trend, Forecast Analysis & Growth Opportunity: 2023-2028
Cellulose Esters Market is segmented by Product Type (Cellulose Acetate, Cellulose Nitrate, and Cellulose Acetate Propionate), Application Type (Coating, Platisizers, Cigarette Filters, Films & Tapes, Inks, and Sulfite), and Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Russia, and Rest of Europe], Asia-Pacific [China, Japan, South Korea, India, and Rest of Asia-Pacific], and Rest of the World [Brazil, Saudi Arabia, and Others]).
“The Cellulose Esters Market is expected to grow at a promising CAGR of 5.2% in the long run to reach US$ 5.7 billion by 2028.”
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Cellulose is an organic polymer that is derived from wood and can be chemically modified to yield its derivatives such as ethers and esters. Raw materials used mostly include wood, caustic soda, and cotton. The costs of these raw materials are volatile and are prone to increase extensively owing to various factors including changes in climatic conditions, lack of availability, and demand and supply considerations.
The food & beverage industry makes substantial use of carboxym Cellulose Acetate Propionate (CMC). It is used to thicken, emulsify, and stabilize foods so they can keep their constant flavor, concentration, and texture. The demand for the product has increased due to the rising usage of emulsifiers in frozen desserts, margarine, chocolates, peanut butter, baked goods, and salad dressings. Due to shifting customer attitudes towards their eating habits, the packaged food business has seen significant expansion in recent years. The primary driver behind this transformation is the changing consumer lifestyle, which includes lengthy workdays and easy availability of prepackaged foods from a variety of cuisines.
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“Cellulose acetate dominates the market during the forecast period.”
The Cellulose Esters market is segmented into cellulose acetate, cellulose nitrate, and cellulose acetate propionate. The market for cellulose esters was dominated by the cellulose acetate product segment in 2021, generating the largest revenue share of over 45.0%. This is because cellulose acetate is widely used in the manufacture of both cigarettes and textiles, with the demand being positively influenced by an expanding cigarette market, the increasing number of smokers, and the preference for low-tar cigarettes.
It has many physical characteristics, including great flexibility, high constant of dielectric, and toughness. The flammability of cellulose nitrate is very high. It is widely utilized in the production of explosives, propellants, and lacquers in both the military and civilian sectors of the economy. When composed of cotton, it is a fluffy white solid that is mainly used in the paint and wood industries.
“Coatings application dominates the market during the forecast period.”
The market is segmented into coating, plasticizers, cigarette filters, films & tapes, and inks. Coating is estimated to be the most preferred application in the market for cellulose esters owing to the increased use of cellulose esters in coating required by automotive and oil & gas industries.
“Asia-Pacific dominates the market during the forecast period.”
This is a result of supportive government policies that encourage investment in the region's industrial and production sectors. These rules will contribute to higher product demand for coating, paint, and adhesive applications.
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The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc.
The following are the key players in the cellulose esters market (arranged alphabetically).
Note: The above list does not necessarily include all the top players in the market.
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This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
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Global, regional, and country-level historical data and forecasts |
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Market Segment Analysis and Forecast |
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This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s Cellulose Esters market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants and investors in identifying the low-hanging fruits available in the market and formulating the growth strategies to expedite their growth Application.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
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Cellulose is an organic polymer that is derived from wood and can be chemically modified to yield its derivatives such as ethers and esters. Raw materials used mostly include wood, caustic soda, and cotton. The costs of these raw materials are volatile and are prone to increase extensively owing to various factors including changes in climatic conditions, lack of availability, and demand and supply considerations.
The cellulose esters market is estimated to grow at a CAGR of 5.2% by 2028, driven by the demand for the product has increased due to the rising usage of emulsifiers in frozen desserts, margarine, chocolates, peanut butter, baked goods, and salad dressings.
Borregaard, Georgia-Pacific, Rayonier Advanced Materials, Celanese Corporation, Eastman Chemical Company, Rhodia Acetow International GmbH, AkzoNobel N.V., Ashland; Daicel Corporation, The Dow Chemical Company, J.M. Huber Corporation, Lamberti S.p.A. are the leading players in the Cellulose Esters market.
The Cellulose Esters Market is expected to reach US$ 5.7 billion by 2028.
Asia-Pacific is estimated to remain dominant in the Cellulose Esters market in the foreseeable future. The key economies driving the region’s demand for automotive seals are China, India, and Japan. This is a result of supportive government policies that encourage investment in the region's industrial and production sectors. These rules will contribute to higher product demand for coating, paint, and adhesive applications.
The cellulose acetate product segment generated the largest revenue share of over 45.0%. This is because cellulose acetate is widely used in the manufacture of both cigarettes and textiles, with the demand being positively influenced by an expanding cigarette market.
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