The global Cellulose Esters And Ethers market size is expected to be worth around US$ 7.7 billion by 2027, according to a new report by Vision Research Reports.
The global Cellulose Esters And Ethers market size was valued at US$ 5.2 billion in 2019 and is anticipated to grow at a CAGR of 4.8% during forecast period 2020 to 2027.
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The industry is expected to exhibit remarkable growth over the forecast period owing to increasing demand in application industries such as and apparel, food and beverages, cigarette filters, photographic films, printing inks, and building.
The food and beverage industry is anticipated to witness a notable CAGR over the forecast period owing to increasing demand for meat, bakery products, processed food, dairy products, confectionery, convenience foods, juices, and alcoholic beverages. An emerging economy such as China has witnessed a high demand for cigarette filters primarily produced using cellulose acetate. The growing demand for cigarette filters coupled with growth in the food and beverage sector is expected to exhibit the growth of the market for cellulose esters and ethers over the forecast period.
The market is expected to be driven by growing demand for products in the cigarette filters, textiles and apparel, photographic films, and food and beverage industries, specifically in emerging economies of Asia Pacific.
Developed economies such as North America and Europe are projected to emerge as prominent markets. Lack of time and rising consumer purchasing power in these regions have resulted in an increased demand for baked food products and convenience foods. In addition, the growing number of product-specific bakeries is expected to foster emulsifier manufacturers to incorporate cellulose-based esters and ethers in their product line.
Cellulose acetate is expected to sustain the largest market share. The majority of the demand for this product is likely to come from the cigarette filters industry. The growing use of the acetate ester as a silk substitute owing to its low-cost is anticipated to fuel market growth. Also, changing consumer lifestyles, coupled with the high spending capacity of consumers on cigarettes, are some of the factors that are expected to drive the market for cellulose esters and ethers.
The kraft process is projected to exhibit the highest CAGR over the forecast period. The kraft process is anticipated to emerge as the dominant process over the forecast period since it is characterized by efficient waste recovery and reduced cooking time. The growth of the process can also be attributed to the high demand for cellulose.
The kraft process is widely utilized for manufacturing cellulose and produces the most substantial fiber-based paper and paperboard products. The primary goal of this pulping process is to create easily bleachable pulps with low lignin content and high strength properties. The by-products obtained during the kraft process include tall oil, turpentine, soap, and rosin.
Asia Pacific is projected to witness the highest revenue-based CAGR of 6.1% by 2027, in terms of revenue. The growth in the region can be attributed to the increasing demand for cellulose esters and ethers from food and beverages, cigarette filters, and the pharmaceutical sector.
North America is anticipated to propel at the fastest CAGR over the forecast period owing to burgeoning product use in various applications such as construction, cosmetics, pharmaceuticals, and food and beverage. The growing pharmaceutical sector in the U.S. due to increasing expenditure on medicines by local customers is anticipated to have a positive impact on the market for cellulose esters and ethers.
Europe accounted for over 23.0% of the market revenue in 2019 and is projected to witness a CAGR of 2.8% over the forecast period. Cosmetics is predicted to be one of the fastest-growing applications on account of the high consumption of cellulose esters and ethers for improving the viscosity of cosmetic formulations such as skin care products, makeup products, and shampoos.
Celanese Corporation, Eastman Chemical Corporation, Akzo Nobel N.V., and The Dow Chemical Company. Moreover, several companies are focusing on dealing with more than one supplier for a particular resource. Various end-users in the market for cellulose esters and ethers include Shell, Halliburton, Palsgaard, Sanofi, Pfizer, British Petroleum, and PPG Industries.
Market SegmentationProduct Outlook Cellulose Acetate Cigarette Filters Textiles & Apparel Photographic Films Tapes & Labels Cellulose Nitrate Printing Inks Automotive Paints Wood Coatings Leather Finishes Nair Varnishes Others Carboxymethyl Cellulose Cosmetics & pharmaceuticals Food & beverages Oil & gas Paper & board Paints & adhesives Detergents Others Methyl Cellulose Building industry Dispersion paints Wallpaper paints Cosmetics Polymerization Detergents Others Ethyl Cellulose Personal care Inks Specialty coatings Others Hydroxyethyl Cellulose Building materials Oil production Inks Cosmetics & detergent Special agent Others Hydroxypropyl Cellulose Adhesives Cosmetics Pharmaceuticals Foods Others Process Outlook Kraft Sulfite Regional Outlook North America U.S. Mexico Canada Europe U.K. Germany France Asia Pacific China Japan India Central and South America Brazil Middle East & Africa Saudi Arabia
Why to Buy this Report?This market report is the perfect presentation of the qualitative and quantitative analysis of the market according to categorization considering economic and non-economic factors. It also provides provision of market value (USD Million) data for every segment and sub-segment. This report further focuses on prominent regions and segmentation of the market, which is anticipated to record the rapid growth and dominate the market.
Key Coverage of the ReportKey Trends (Drivers, Constraints, Opportunities, Threats, Challenges, and Recommendations) Strategic recommendations for major business segments based on accurate estimations Competitive landscape mapping key trends in the regions Company profiling with strategic initiatives, financial standing, and recent events The report evaluated key market features, including revenue, price, capacity utilization, gross margin, production and consumption, demand and supply, import/export, along with market share and CAGR. In addition, the study offers a comprehensive analysis of these factors, along with pertinent market segments and sub-segments. Detailed SWOT analysis. Opportunities and threats faces by the existing vendors in Global Cellulose Esters And Ethers Market Trending factors influencing the market in the geographical regions. Strategic initiatives focusing the leading vendors.
PEST analysis of the market in the five major region.
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