Key Market Overview:
Cellulose Ester Market size was valued at USD 5.60 Billion in 2022, registering a CAGR of 5.1% during the forecast period (2023-2030), and the market is projected to be worth USD 8.82 Billion by 2030.
Cellulose ester is a class of organic compounds derived from cellulose, a natural polymer found in plant cell walls. It is created by chemically modifying cellulose using a reaction with various acid anhydrides or organic acids. This results in the formation of an ester linkage between the hydroxyl groups on the cellulose molecule and the acid or anhydride molecule. The resulting cellulose ester has properties that are different from those of the original cellulose. It is a thermoplastic material that is soluble in certain solvents, making it useful in a wide range of applications including coatings, films, fibers, and plastics.
Moreover, the cellulose ester market is expected to grow significantly over the forecast period owing to the increasing demand from end-use industries such as automotive, textiles, and packaging. The growth in the global population and the rising standards of living are also contributing to the demand for cellulose esters, as they are used in many products that people use daily. For instance, cellulose esters are used in the production of various types of packaging materials, such as plastic films and coatings, which are used to package food, cosmetics, and other consumer goods.
Market Dynamics:
Driver:
The increasing demand for packaging materials that are durable, lightweight, and have good barrier properties is propelling the cellulose ester market. Cellulose esters, such as cellulose acetate butyrate (CAB) and cellulose acetate propionate (CAP), are commonly used in the production of films, coatings, and other packaging materials that meet these requirements. Moreover, cellulose esters are widely used in the textile industry for the production of fibers and fabrics. For example, cellulose acetate is used to make rayon, a type of semi-synthetic fiber that is used in clothing, upholstery, and other textile products. The demand for textile products has been increasing due to the growing population, urbanization, and changes in fashion trends. Therefore boosting the cellulose ester market in the textile industry.
Restraints:
The production of cellulose esters requires acetic acid and butyric acid due to which the cost and availability of these acids directly affect the cellulose ester market conditions, including changes in feedstock availability, energy prices, and production capacity. The demand for these acids can also be affected by other industries that use them as raw materials, such as the pharmaceutical and food industries. Therefore, the dependence on raw materials and their fluctuating costs are likely to create a significant restraint for the cellulose ester market.
Opportunities:
Cellulose esters are being explored for use in various healthcare applications, such as drug delivery systems, wound dressings, and medical implants. For example, cellulose acetate is being developed as a material for 3D-printed tissue scaffolds, which can be used to support the growth of new tissues and organs. Additionally, to develop new types of cellulose esters with improved properties, such as higher thermal stability, improved solubility, and greater durability. These new materials could expand the range of applications for cellulose esters and increase their competitiveness with other materials.
Cellulose Ester Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Billion) | 8.82 billion |
| CAGR (2023-2030) | 5.1% |
| By Type | Cellulose Acetate (CA), Cellulose Acetate Butyrate (CAB), and Cellulose Acetate Propionate (CAP) |
| By Application | Coatings, Films, Acetate Fiber, Acetate Plastic, Inks, and Others |
| By End Use Industry | Building & Construction Industry, Personal Care Industry, Electronics Industry, Textile Industry, Paints & Coatings Industry, Inks Industry, Pharmaceutical Industry, and Others |
| By Geography | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Key Players | Lamberti S.p.A., Dow Inc., Daicel Corporation, Eastman Chemical Company, Celanese Corporation, RYAM, Borregaard ASA, Sichuan Push Acetati Co., Limited, Sappi Europe SA, and Rotuba |
Market Segmentation:
By Type
Based on the type segment, the market is categorized as cellulose acetate (CA), cellulose acetate butyrate (CAB), and cellulose acetate propionate (CAP). In 2022, the cellulose acetate (CA) segment dominated the market in terms of revenue. This is primarily due to its wide range of applications in various industries such as textiles, coatings, films, and plastics. CA is valued for its unique properties such as high clarity, good chemical resistance, and excellent solubility, making it an ideal material for various applications. Additionally, the increasing demand for eco-friendly and sustainable materials has also contributed to the growth of the CA market, as it is biodegradable and recyclable.
However, the cellulose acetate butyrate (CAB) segment is anticipated to register the fastest CAGR in the cellulose ester market over the forecast period due to the increasing demand for high-performance materials in various industries such as automotive, packaging, and electronics. CAB is a thermoplastic material that is derived from cellulose and butyric acid. It is valued for its unique properties such as high impact resistance, good weather ability, and excellent adhesion to various substrates.
By End Use Industry
Based on the end-use industry, the market is segmented into the building & construction industry, personal care industry, electronics industry, textile industry, paints & coatings industry, inks industry, pharmaceutical industry, and others. The paints & coatings industry held the largest share of the cellulose ester market in terms of value. This is attributed to the high demand for cellulose esters in the production of paints, coatings, and other surface treatment products. Properties of cellulose esters such as high solubility, good adhesion, and excellent film-forming ability make them an ideal material for coatings and increase the demand for cellulose esters in the paint & coating industry.
The textile industry is expected to show a steady growth rate in terms of CAGR over the forecast period, due to the increasing demand for cellulose esters such as cellulose acetate and cellulose triacetate in the production of textiles for various applications such as clothing, home textiles, and industrial textiles and others.
By Application
By the application segment, the market is divided into coatings, films, acetate fiber, acetate plastic, inks, and others. The coating segment accounted for the highest market share in the cellulose ester market in terms of revenue in 2022. Cellulose esters such as cellulose acetate, cellulose acetate butyrate, and cellulose propionate are widely used in the production of coatings for various industries such as automotive, aerospace, and construction. The unique properties of cellulose esters such as high solubility, good adhesion, and excellent film-forming ability make them an ideal material for coatings. Therefore, increasing the demand for the cellulose ester in the coating application.
Moreover, the film segment is anticipated to witness significant growth in the cellulose ester market over the forecast period. This is attributed to the fact that cellulose esters such as cellulose acetate and cellulose acetate butyrate are widely used in the production of films for various applications such as packaging, photographic film, and LCD screens. Moreover, the increasing demand for eco-friendly and biodegradable packaging materials is also anticipated to contribute to the growth of the film segment.
By Region
Based on the region, the cellulose ester market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. Asia Pacific dominated the market with the highest market share in 2022. The increasing demand for cellulose esters in various end-use industries such as textiles, coatings, and electronics in countries such as China, India, and Japan has contributed to the growth of the market in this region.
However, North America is expected to witness significant growth over the forecast period. This is attributed to the increasing demand for cellulose esters in the automotive and construction industries in the United States. Additionally, the growing demand for eco-friendly and sustainable materials in the region has led to a rise in the demand for cellulose esters, which are biodegradable and recyclable.
Cellulose Ester Market Competitive Landscape:
The cellulose ester market is highly competitive comprising numerous players operating in the industry. The players are focusing on strategic initiatives, such as mergers and acquisitions, partnerships, collaborations, new product launches, and capacity expansions to strengthen their market position and expand their global presence.
The following are the major key players operating in the cellulose ester market:
- Lamberti S.p.A.
- Dow Inc.
- Daicel Corporation
- Eastman Chemical Company
- Celanese Corporation
- RYAM
- Borregaard ASA
- Sichuan Push Acetati Co., Limited
- Sappi Europe SA
- Rotuba
Recent Developments
- In October 2020, Celanese Corporation introduced a new product called ‘BlueRidge’, a type of cellulosic pellet made from wood pulp and vinegar. This product is a sustainable alternative to single-use plastic that can be easily composted at home. The main component of BlueRidge is cellulose acetate.
- In October 2019, Eastman Chemical Company launched a new portfolio of 13 cellulose esters for use in food contact applications such as inks, adhesives, tapes and labels, internal cans, and other coatings.
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