USD 11.40 billion
Cellulose Esters Market Size, Share, Growth Analysis, By Type(Cellulose Acetate, Cellulose Acetate Butyrate), By Application(Coatings and Films, Textiles and Fibers) - Industry Forecast 2024-2031
Report ID:
SQMIG15E2236 |
Region:
Global |
Published Date: March, 2024
Pages:
184
|
Tables:
63 |
Figures:
75
Cellulose Esters Market Insights
Global Cellulose Esters Market size was valued at USD 11.40 billion in 2022 and is poised to grow from USD 12.10 billion in 2023 to USD 19.42 billion by 2031, growing at a CAGR of 6.1% in the forecast period (2024-2031).
The global market is expected to witness significant growth due to increasing demand from various sectors, such as food and beverage, photographic films, cigarette filters, and the textile and apparel industry. This growth is particularly prominent in emerging countries of the Asia Pacific region. One of the widely used cellulose esters is cellulose acetate phthalate, which is commonly employed as a coating for pharmaceutical drugs. However, its market growth may be hindered by the availability of a cheaper alternative called chitosan acetate phthalate, which possesses similar properties. Carboxymethyl Cellulose (CMC) is extensively utilized by the food and beverage industry as a thickener, emulsifier, and stabilizer. Its usage in various food products, including frozen desserts, margarine, chocolates, peanut butter, baked goods, and salad dressings, has driven the demand for cellulose esters. The growing consumption of emulsifiers in the packaged food market, driven by changing consumer preferences and lifestyle, has further contributed to the increased demand for these products. Cellulose, an organic polymer derived from wood, can be chemically modified to produce derivatives such as ethers and esters. The raw materials used in the production of cellulose esters primarily include wood, caustic soda, and cotton. However, the costs of these raw materials are subject to volatility due to factors such as changes in climatic conditions, limited availability, and supply and demand dynamics. Cellulose esters and ethers find applications in various industries, including paper and pulp, oil and gas, pharmaceuticals, food and beverage, construction, detergents, personal care, mining, and textiles. Finished products such as nitrocellulose, cellulose acetate, carboxymethyl, and methylcellulose are supplied to end-use industries through distribution channels such as distributors, wholesalers, and vendors.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Cellulose Acetate
Fastest Growth
Cellulose Acetate
Growth Rate
6.1% CAGR
Global Cellulose Esters Market ($ Bn)
Country Share for North America Region (%)
Global Cellulose Esters Market By Type ($ Bn)
Global Cellulose Esters Market By Type (%)
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Cellulose Esters Market Segmental Analysis
Global Cellulose Esters Market is segmented by type, application, and region. Based on type, the market can be segmented into cellulose acetate, cellulose acetate butyrate, and cellulose propionate. Based on application, the market is segmented into coatings and films, textiles and fibers, and inks and adhesives. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Type
By type, the market can be segmented into cellulose acetate, cellulose acetate butyrate, and cellulose propionate. Cellulose Acetate dominated the cellulose esters market. It holds a significant market share due to its wide range of applications and favorable properties. Cellulose Acetate is known for its excellent film-forming characteristics, transparency, and compatibility with various additives. These properties make it suitable for various industries, such as packaging, textiles, coatings, and consumer goods. In the packaging industry, Cellulose Acetate is extensively used for manufacturing films, coatings, and other packaging materials due to its excellent barrier properties and printability.
Cellulose Acetate Butyrate is the fastest-growing segment in the market. It is gaining traction due to its superior properties compared to other cellulose esters. Cellulose Acetate Butyrate offers enhanced toughness, durability, and solvent resistance, making it suitable for demanding applications. In the automotive industry, Cellulose Acetate Butyrate is increasingly used for producing components, coatings, and adhesives due to its improved performance in terms of impact resistance and weatherability.
Analysis by Application
By application, the market can be segmented into coatings and films, textiles and fibers, and inks and adhesives. The dominating segment in the cellulose esters market based on applications is Coatings and Films. Cellulose esters are widely utilized in this segment due to their exceptional film-forming properties, adhesion, chemical resistance, and gloss. Coatings and films produced from cellulose esters are used across various industries, including automotive, packaging, electronics, and construction. In the automotive industry, cellulose esters are applied as coatings and films on car bodies and components to enhance durability, protect against corrosion, and provide an appealing finish. In the packaging industry, cellulose esters are utilized in flexible packaging, labels, and coatings for paperboard packaging, offering barrier properties and printability. The electronics industry also relies on cellulose esters for coatings and films that provide insulation and protection from moisture and chemicals. With their wide range of applications and favorable properties, cellulose esters in the Coatings and Films segment dominate the cellulose esters market.
Among the applications of cellulose esters, the fastest-growing segment in the market is Textiles and Fibers. Cellulose esters are increasingly used in the textile industry for producing specialty fibers and fabrics. The properties of cellulose esters, such as softness, moisture absorption, dyeability, and biodegradability, make them desirable for textile applications. Cellulose esters, particularly cellulose acetate fibers, are utilized in various textile products, including apparel, home furnishings, and industrial textiles. In the fashion industry, cellulose ester fibers are valued for their silk-like appearance, lightweight feel, and ease of dyeing.
Global Cellulose Esters Market By Type, 2023 (%)
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Cellulose Esters Market Regional Insights
The Asia Pacific region dominated the global cellulose esters market. The region's dominance can be attributed to several factors, including the rapid industrialization, expanding population, and increasing disposable income of consumers.
North America is anticipated to be the fastest growing region in the global cellulose esters market. The region is witnessing substantial growth due to factors such as technological advancements, research and development activities, and the presence of a well-established industrial infrastructure.
Global Cellulose Esters Market By Geography, 2024-2031
- Largest
- Fastest
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Cellulose Esters Market Dynamics
Drivers
Growing Demand for Sustainable and Eco-Friendly Materials
- One of the key drivers propelling the cellulose esters market is the increasing demand for sustainable and eco-friendly materials across various industries. With growing environmental awareness and regulations, there is a shift towards adopting renewable and biodegradable alternatives. Cellulose esters, derived from organic sources such as wood, offer sustainable properties and are biodegradable, making them a preferred choice for manufacturers looking to meet eco-friendly standards. This driver is pushing the market growth as industries seek to replace conventional materials with more sustainable options.
Restraints
Volatility in Raw Material Prices
- A significant restraint affecting the cellulose esters market is the volatility in raw material prices. The costs of key raw materials like wood, caustic soda, and cotton used in the production of cellulose esters are prone to fluctuations due to factors such as changes in climatic conditions, limited availability, and supply and demand dynamics. These price fluctuations can significantly impact the production costs and profitability for manufacturers, posing a challenge to the growth of the cellulose esters market.
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Cellulose Esters Market Competitive Landscape
Global cellulose esters market is characterized by intense competition among various market players. Companies in the market focus on strategies such as product innovation, research and development activities, and strategic partnerships to gain a competitive edge. Additionally, manufacturers are investing in advanced production technologies and expanding their distribution networks to cater to a wider customer base. The competitive environment is further influenced by factors such as pricing strategies, product quality, and customer service. This competition drives continuous improvement and fosters innovation in the cellulose esters market.
Top Player’s Company Profiles
- Daicel Corporation (Japan)
- Solvay SA (Belgium)
- Celanese Corporation (US)
- Sappi Limited (South Africa)
- Rayonier Advanced Materials Inc. (US)
- Mitsubishi Chemical Corporation (Japan)
- China National Tobacco Corporation (China)
- Rhodia Acetow GmbH (Germany)
- Acordis Cellulosic Fibers Inc. (US)
- Rotuba Extruders Inc. (US)
- Daicel FineChem Ltd. (Japan)
- Rhodia Operations (France)
- Hangzhou Dayangchem Co. Ltd. (China)
- Ashland Global Holdings Inc. (US)
- Borregaard (Norway)
- Ashland Specialty Chemical Company (US)
- BASF SE (Germany)
- Eastman Kodak Company (US)
- KCC Corporation (South Korea)
Recent Developments
-
Eastman and Cargill announced a partnership in February 2024 to develop bio-based packaging materials. This might affect the application of cellulose esters in environmentally friendly packaging materials.
-
In May 2023, Daicel Corporation, a leading cellulose esters manufacturer, announced a major investment to expand its production capacity in Japan, addressing the increasing demand for cellulose esters in the region.
-
Brenntag and SE Tylose announced a new supplier agreement on June 23, 2023, which will make it easier for Brenntag's cellulose ethers to be distributed throughout Canada, particularly for the material science industries. This agreement is currently in force. Two widely used cellulose ethers are hydroxyethyl cellulose (HEC) and methylcellulose (MC), which are dispersed cellulose ethers.
-
A partnership between Solvay and IKEA was announced in November 2023 to develop bio-based substitutes for common polymers found in IKEA goods. This partnership may increase the market for cellulose esters, a possible bio-based substitute.
Cellulose Esters Key Market Trends
- A key trend observed in the cellulose esters market is the growing emphasis on bio-based cellulose esters. With a rising demand for sustainable and eco-friendly materials, manufacturers are actively exploring the use of cellulose esters derived from renewable sources such as biomass and agricultural waste. Bio-based cellulose esters offer reduced environmental impact, enhanced biodegradability, and improved carbon footprint compared to their conventional counterparts. This trend aligns with the global push towards a more sustainable and circular economy, driving research and development efforts to advance bio-based cellulose esters as a viable alternative in various industries.
Cellulose Esters Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global cellulose esters market analysis, the market is witnessing significant growth, driven by increasing demand from sectors such as food and beverage, photographic films, cigarette filters, and the textile and apparel industry. The Asia Pacific region dominated the market, fueled by rapid industrialization, population growth, and rising disposable income. However, the market faces challenges due to volatile raw material prices. The industry is also experiencing key trends, including a focus on bio-based cellulose esters as a sustainable alternative. The competitive landscape is characterized by intense competition and strategies such as product innovation and strategic partnerships. Overall, the cellulose esters market is poised for continued growth as industries seek sustainable solutions and advancements in technology.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 11.40 billion |
| Market size value in 2031 | USD 19.42 billion |
| Growth Rate | 6.1% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Cellulose Esters Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Cellulose Esters Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Cellulose Esters Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Cellulose Esters Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Cellulose Esters Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Cellulose Esters Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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