Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
Cellulose Esters Market is projected to be worth USD 5.1 Billion by 2027, registering a CAGR of 6.5% during the forecast period (2021 - 2027).
Increasing Demand from End-Use Industries:
The Cellulose Esters market experiences significant demand from various end-use industries such as automotive, construction, pharmaceuticals, and textiles. Cellulose esters, including cellulose acetate, cellulose acetate butyrate, and cellulose acetate propionate, are widely used as film formers, thickeners, binders, and coatings in these industries. With the continuous growth and expansion of these sectors globally, driven by population growth, urbanization, and economic development, the demand for cellulose esters as versatile and high-performance materials is expected to rise.
Rising Adoption in Sustainable Packaging:
The increasing emphasis on sustainability and environmental conservation is driving the adoption of cellulose esters in sustainable packaging solutions. Cellulose esters are biodegradable, renewable, and derived from natural sources, making them attractive alternatives to traditional petroleum-based plastics. As consumer awareness of environmental issues grows and regulations on single-use plastics become more stringent, industries are turning to cellulose esters for eco-friendly packaging materials, fueling market growth in this segment.
Growth in Pharmaceutical and Healthcare Applications:
The pharmaceutical and healthcare sectors are significant consumers of cellulose esters for various applications such as tablet coatings, controlled-release formulations, and medical device coatings. Cellulose esters offer properties such as biocompatibility, film-forming ability, and controlled drug release, making them ideal materials for pharmaceutical and healthcare applications. With the increasing global demand for pharmaceutical products and healthcare services, driven by factors such as aging populations and the prevalence of chronic diseases, the demand for cellulose esters in these sectors is expected to grow steadily.
Expansion of the Electronics Industry:
The electronics industry is another key consumer of Cellulose Esters, particularly for applications such as coatings, adhesives, and insulating materials. Cellulose esters offer properties such as thermal stability, electrical insulation, and compatibility with electronic components, making them valuable materials for electronic device manufacturing. With the continuous advancements in electronics technology and the growing demand for electronic devices globally, the demand for cellulose esters in the electronics industry is expected to increase.
Technological Advancements Driving Product Innovation:
Technological advancements in cellulose ester production processes and applications are driving product innovation and expanding the market scope. Manufacturers are investing in research and development to develop advanced cellulose ester formulations with improved properties such as enhanced durability, thermal stability, and UV resistance. These innovations enable cellulose esters to cater to a wider range of applications and meet the evolving needs of end-users across various industries.
Regulatory Compliance and Sustainability Standards:
Regulatory compliance and adherence to sustainability standards are critical factors influencing the Cellulose Esters market. Regulatory bodies impose strict regulations on chemical substances used in consumer products, including cellulose esters, to ensure product safety and environmental sustainability. Compliance with regulatory requirements and sustainability standards is essential for manufacturers to gain market approval, maintain consumer trust, and meet the growing demand for environmentally friendly materials.
Market Fragmentation and Competitive Landscape:
The Cellulose Esters market exhibits fragmentation with numerous manufacturers and suppliers competing for market share. Intense competition among key players and new entrants in the market necessitates differentiation through product innovation, quality assurance, and customer service. Market players are focusing on expanding their product portfolios, strengthening distribution networks, and leveraging strategic partnerships to gain a competitive edge in the highly competitive Cellulose Esters market.
Volatility in Raw Material Prices:
Volatility in raw material prices, particularly for cellulose derivatives, can impact the Cellulose Esters market. Cellulose esters are derived from cellulose, which is primarily sourced from wood pulp and cotton linters. Fluctuations in wood pulp and cotton prices, influenced by factors such as weather conditions, supply-demand dynamics, and currency fluctuations, can affect the production costs of cellulose esters and subsequently influence market dynamics.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Growth Rate |   6.5%(2022–2027 |
Cellulose Esters Market Highlights:
Cellulose Esters Market Overview
The Cellulose Esters Market Size was valued at USD 12.04 Billion in 2023. The cellulose esters industry is projected to grow from USD 12.71 Billion in 2024 to USD 19.66 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.60% during the forecast period (2024 - 2032). Cellulose esters are cellulose-derived polymers. Papermaking, food packaging, medicines, adhesives, paints, coatings, and plastics are just a few of the industries that employ them. Cellulose esters are chemical molecules that are non-toxic, biodegradable, and renewable. They have better flow-out and pigment wetting capabilities. Furthermore, they are frequently seen as safer alternatives to phthalates and BPA. As a result, they're a wonderful option for people who want to limit their exposure to dangerous substances.
Thanks to its applications in many end-use sectors such as paints and coatings, textiles, paper and pulp, and others, cellulose esters are experiencing a surge in demand from growing nations in Asia-Pacific. Another factor propelling the market surge is its application as a renewable bio-based material. The market players will benefit from the transition to green technology and increased awareness of the benefits of employing biodegradable plastic in composites, optical films, paint coatings, plastics, and laminates, among other applications.
Cellulose Esters Market Share, by Type, 2017 (%):
Source: MRFR Analysis
Regional Analysis
The Cellulose Esters Market has been segmented into five key regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
The North American market held the largest Cellulose Esters Market Share in 2017 and is expected to grow at a significant CAGR in the coming years owing to the growing demand for pharmaceutical drugs. The US is the leading country in the region due to growing demand for the product in coatings, inks and due to the presence of leading manufacturing companies in the region such as Celanese Corporation, Eastman Chemical Company, and Rayonier Advanced Materials. The Asia-Pacific Cellulose Esters Market is expected to grow at the highest CAGR in the coming years owing to the surging product demand in the automotive and construction industries. China is the leading country in the region owing to its largest tobacco industry base and growing demand from coating industry. The European market held a significant market share in 2017 and is expected to maintain this trend in the coming years due to the growing pharmaceutical industries, coatings, and films and tapes among others. Germany is the major contributor in the region owing to the continuous technological advancements and wide range of drug delivery systems. France, the UK, Spain, and Italy are other countries contributing to the regional market growth. The Latin American market held a moderate market share due to the significant consumption of the product in inks and coatings. Brazil, Argentina, and Mexico are the prominent countries in the region. The Middle East & Africa market is projected to grow at a sluggish rate owing to limited availability of raw material.
Segmentation Analysis
The Cellulose Ester Market has been segmented on the basis of Raw Material, Application, and Region.
Based on Raw Material, the Cellulose Esters Market has been categorized into cellulose acetate, cellulose acetate propionate, cellulose acetate butyrate, cellulose nitrate, and others.
By Application, the Cellulose Esters Market is classified into coatings, films & tapes, textiles, cigarette filters, healthcare, inks, and others.
The Cellulose Esters Market has been studied across the five regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Key Players
Solvay (Belgium), China National Tobacco Corporation (China), Celanese Corporation (US), Sappi (South Africa), Daicel Corporation (Japan), Eastman Chemical Company (US), Acordis Cellulostic Fibers (Germany), Rayonier Advanced Materials (US), Mitsubishi Chemical Holdings Corporation (Japan), and Sichuan Push Acetati (China) are some of the key market players operating in the Cellulose Esters Market.Recent Development
The six nominees for the "Cellulose Fibre Innovation of the Year" innovation award, to be given at the International Conference on Cellulose Fibres hybrid event, have been announced by nova-Institute GmbH (Hürth, Germany). Cellulose fiber solutions adopted by the International Conference on Cellulose Fibres conference advisory members span from orange and wood pulp cellulose to a unique cellulose fiber manufacturing method. German Institutes of Textile and Fiber Research Denkendorf, Fibers365, RBX Créations, Spinnova, Orange Fiber, and Kelheim Fibers are among the six nominees.
Rayonier Advanced Materials Inc., a global pioneer in cellulose-based technology, announced the sale of 28,684,433 common shares of GreenFirst Forest Products Inc. to an Interfor Corporation wholly-owned subsidiary for $43.3 million. The agreement includes a Purchase Price Protection clause that allows the Company to participate in future stock price appreciation under specific conditions and for a set length of time.
Target Audience:
- Traders and distributors of cellulose
- Cigarette manufacturers
- Raw material suppliers
- Potential investors
- Nationalized laboratories
- Government bodies
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
