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Cellulose Esters Market Size, Share, Industry, Forecast and outlook (2024-2031)

Published: June 2024 || SKU: 1996
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Global Cellulose Esters Market is segmented By Type (Cellulose Acetate, Cellulose Acetate Butyrate, Cellulose Acetate Propionate, Cellulose Nitrate, Others), By Application (Coatings, Plasticizers, Cigarette Filters, Films & Tapes, Inks, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

 

Cellulose Esters Market Overview

The report on global cellulose esters analyses the market shares, size, recent trends, future market outlook, and competitive intelligence. Cellulose esters usage in cigarette filters is on the rise. Demand for coatings, and cigarette filters in ‘The Asia Pacific’ is booming. The competitive rivalry intensifies with Eastman Chemical Company, Solvay S.A., China National Tobacco Corp, and others active in the market.

Cellulose esters are derived from renewable resources, which is has been used in many coating applications, including automotive coatings that enable faster manufacturing and a seamless shine; industrial coatings that reduce sag and facilitate faster dry times; and semipermeable membranes used in osmotic drug delivery systems for the pharmaceutical industry.

The cellulose Esters Market is segmented by type, application, and geography. By type, the market is segmented into cellulose acetate, cellulose acetate butyrate, cellulose acetate propionate, cellulose nitrate, and others. By application, the market is further segmented by coatings, plasticizers, cigarette filters, films & tapes, inks, and others. Whereas by geography the market is divided into North America, South America, Europe, Asia Pacific, and the Rest of the World.

The cellulose esters market has witnessed significant growth in recent years, owing to the increasing use of cellulose esters in various applications such as cigarette filters, films & tapes, coatings, and plasticizers. The demand for cellulose esters is increasing in these applications due to their excellent biodegradability profile and filtration properties offered by them.     

 

Cellulose Esters Market Scope and Summary

Metrics

Details

Market CAGR

5.75%

Segments Covered

By Type, By Application, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other vital insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

 

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Cellulose Esters Market Dynamics and Trends

The cellulose esters market has witnessed significant growth in recent years, owing to the increasing use of cellulose esters in various applications such as cigarette filters, films & tapes, coatings, and plasticizers. The demand for cellulose esters is increasing in these applications due to their excellent biodegradability profile and filtration properties offered by them.                  

Also, cellulose esters are found in many coating applications, including automotive coatings that enable faster manufacturing and a seamless shine, industrial coatings that reduce sag and facilitate faster dry times, and semi-permeable membranes used in osmotic drug delivery systems for the pharmaceutical industry.

Hence, therefore, the use of cellulose ether in a broad range of end-user industries, followed by the robust growth and investment flow t0 the Asia Pacific construction industry and consistent global automobile sales drive the demand for the cellulose ester market.   

Cellulose Esters Market Segmentation

Based on type, the Cellulose Esters market is classified into Cellulose Acetate, Cellulose Acetate Butyrate, Cellulose Acetate Propionate, Cellulose Nitrate, and others. Currently, Cellulose Acetate Butyrate is the dominant coating type segment and it accounts for approximately XX% of the market.

Cellulose acetate butyrate(CAB) is widely soluble and compatible with resins and plasticizers. hence it serves in many coating applications for many years that include wood finishes, automotive topcoats, rubber and plastic coatings, textile coatings, glass coatings, flexographic gravure, screen printing inks, hot melts, and adhesives. CAB is often an integral component in achieving desired color effects, particularly through consistent metallic flake orientation in automotive base coats

In addition, cellulose acetate butyrate is stable to ultraviolet light and does not react with dyes, fluorescent colors, or metallic pigments. because of this property CAB is used in different types of coatings. Whereas films made using CAB are optically clear, strong, and possess a high degree of ultraviolet stability.

Owing to the user-friendly properties of this cellulose ether type and the range of applications it has in end-user industries have made CAB the most used cellulose ether type.

By Application

Based on application, the Cellulose Esters market is classified into coatings, plasticizers, cigarette filters, films & tapes, inks, and others. currently, coatings application is the dominant segment and it accounts for approximately XX% of the market.

Consumption of automotive paints is directly related to the production of vehicles, especially passenger cars. Increased vehicle interior applications and growing demand for paints and coatings.

At the same time, rising sales of premium passenger cars are expected to drive the demand for eco-friendly, low-VOC coatings in near future. Hence biodegradable, environmentally friendly cellulose ester raw material to witness better growth in the future than the current demand.

Cellulose Esters Market Geographical Analysis

Asia Pacific region is expected to grow with a high CAGR during the forecast period owing to the strong growth in the construction and automobile industry in this region.  

Asia Pacific region represents the largest segment for consumption of automotive coatings in the world, accounting for around half a percent of global demand. Also compared to the other parts of the globe, automotive  OEM coatings grow at a higher rate compared to the other regions.

Moving forward automotive industry in the region to further expand with the flow of investments into the automobile industry for instance. On January 29, 2019, KIA motors have initiated car production at the newly constructed car manufacturing facility with an annual production capacity of up to 300,000 units.

Maruti Suzuki India plans to increase its capacity to 0.75 million units at its unit in Gujarat plant by 2020, taking the total capacity to over 2.25 million units a year. While Thailand wants to raise annual automobile production to 3.5 million units by 2025.

Therefore, with the growing population, improving economies, and rising middle-class income levels, investments flow into the region to further propel the development of the automotive industry in the region, and thus contribute to the demand for Cellulose Esters.

While Urban development in the region will have a significant positive impact on the architectural coatings industry. For instance, one of the fast-growing economies in the area such as India has witnessed immense demand for commercial space such as office spaces, hotels, retail, and entertainment units. Annual absorption of office space in India crossed 42 mn sq ft in 2017.

Furthermore, new construction activities, housing projects, and airport development projects in the region are expected to drive the demand for coatings and hence cellulose esters demand in the Asia Pacific countries.

Cellulose Esters Companies and Competitive Landscape

Some of the major players in the global Cellulose Esters Market include Eastman Chemical Company, Solvay S.A., China National Tobacco Corp, Daicel Corporation, Celanese Corporation, Acordis Cellulosic Fibers, Inc, Sappi Limited, Mitsubishi Chemical Holdings Corporation, Rayonier Advanced Materials, Sichuan Push Acetati Co., Ltd.

The Cellulose Esters market is a moderately consolidated market with the presence of many major players in the market. Key players in the market are implementing mergers and acquisitions, product launches, and expansions strategy to improve the market share.

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FAQ’s

  • The Cellulose Esters Market is expected to grow at a CAGR of 5.75% during the forecasting period 2024-2031.

  • North America region Controls the Cellulose Esters Market during 2024-2031.

  • Among all regions, Asia Pacific is the fastest-growing market share during the forecast period.

  • Eastman Chemical Company, Solvay S.A., China National Tobacco Corp, Daicel Corporation, Celanese Corporation, Acordis Cellulosic Fibers, Inc, Sappi Limited, Mitsubishi Chemical Holdings Corporation, Rayonier Advanced Materials, Sichuan Push Acetati Co., Ltd.
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