Global Cellulose Esters Market, By Type (Cellulose Acetate, Cellulose Acetate Propionate, Cellulose Acetate Butyrate, Cellulose Nitrate, Others), Application (Coatings, Films & Tapes, Cigarette Filters, Inks, Plasticizers, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends and Forecast to 2026
Market Analysis: Global Cellulose Esters Market
Global Cellulose Esters Market is set to rise from its initial estimated value of USD 9.20 billion in 2018 to an estimated value of USD 14.38 billion by 2026, registering a CAGR of 5.75% in the forecast period of 2019-2026. This rise in market value can be attributed to the increasing demand of its applications in the cigarette filters market and coatings market.
Market Definition: Global Cellulose Esters Market
Cellulose is an organic compound that is majorly found in the cell walls of plants, occurring naturally in fibrous products like cotton, wood and dried hemp. It is majorly applied in a number of industries and products due to its abundance as an organic polymer. This organic compound is integrated with reagents and cellulose esters are formed. These esters are majorly used as film and fibre coating materials.
China produces around 40% of the global tobacco production and is one of the major markets for tobacco industry with the presence of around one-third of the world’s smokers. This significant consumption and production has been one of the major demands for cellulose esters due to its usage in filter tow for cigarettes.
- Increasing demand from the industries located in the Asia-Pacific region is expected to drive the market growth
- Advancements and developments in the market for the application of cellulose esters is expected to drive the market growth
- Unstable and unreliable raw material prices are expected to restrain the market growth
- Rising awareness and health concerns regarding the consumption of cigarettes which is one of the major applications for cellulose ester is expected to restrain the market growth
Segmentation: Global Cellulose Esters Market
- By Type
- Cellulose Acetate
- Cellulose Acetate Propionate
- Cellulose Acetate Butyrate
- Cellulose Nitrate
- By Application
- Films & Tapes
- Cigarette Filters
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
- North America
Key Developments in the Market:
- In November 2017, Rayonier Advanced Materials completed the acquisition of Tembec Inc., this acquisition was aimed at expanding the product portfolio of cellulose and market share of Rayonier Advanced Materials resulting in higher revenue streams for the company.
- In January 2017, Eastman Chemical Company announced the launch of a new material made from company’s cellulose esters technology. The material known as Eastman Naia cellulosic yarn is being marketed as a material for intimate apparel.
Competitive Analysis: Global Cellulose Esters Market
Global cellulose esters market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of cellulose esters market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Cellulose Esters Market
Few of the major competitors currently working in the cellulose esters market are Eastman Chemical Company, Solvay, Daicel Corporation, Celanese Corporation, Sappi, Mitsubishi Chemical Holdings Corporation, Rayonier Advanced Materials, Sichuan Push Acetati Co.Ltd., Rotuba, DowDuPont, Nitrex Chemicals India Ltd, Nitro Química, Synthesia a.s., sichuan nitrocell Co. LTD., Hangzhou Dayangchem Co.Ltd., NOBEL NC, Hagedorn AG, Novartis AG, F. Hoffmann-La Roche Ltd, Abott, Johnson & Johnson Services Inc., Bayer AG, Zhejiang Honghao Technology Co. Ltd., and SK chemicals.
Research Methodology: Global Cellulose Esters Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involvedc