Cellulose Esters And Ethers Market– Statistics And Analysis & Forecast To 2030

Posted by Mrudula Karmarkar on August 9th, 2022

The global cellulose esters and ethers marketsize is expected to reach USD 9.0 billion by 2030, as per the new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.2% from 2022 to 2030. The growth is majorly driven by increasing demand from multiple applications like paints and coatings, inks, construction, pharmaceuticals, and cigarette filters. Factors such as Sugar reduction, plastic packaging management, reformulation, use of plant-based proteins, availability of locally sourced ingredients, and the rise of social commerce are anticipated to drive the market in the Asia Pacific. This, in turn, is anticipated to propel the demand for cellulose ethers and esters in food packaging applications in the region.

Cellulose ethers and esters are broadly used as additives, film formers, and modifying resins in the construction sector. The lower unemployment rate, rising population growth in advanced economies, and increased per capita income in developing countries such as China, and India are the key factors boosting the growth of the construction industry. This growth, in turn, is projected to foster the demand for cellulose ethers and esters. Shut down of various production and manufacturing hubs has disrupted the production and in turn, has an adverse effect on the supply chain which widens the demand supply. The ongoing pandemic severely affected maximum industries like tourism, food and beverages, and automobile. On the other hand, industries like pharmaceutical, personal care, and cosmetics showed a slightly positive impact due to high demand.

The demand for the product is anticipated to be driven by growing demand from food and beverage, photographic films, cigarette filters, and the textile and apparel industry, especially in emerging countries of the Asia Pacific region. Cellulose acetate phthalate is an enteric polymer broadly used for the coating of pharmaceutical drugs, whose substitute is chitosan, which is cheap as well as available in abundance. Chitosan acetate phthalate exhibits several properties similar to that of cellulose acetate phthalate and is anticipated to hamper its market growth.

To Request Sample Copy of this report, click the link:

https://www.grandviewresearch.com/industry-analysis/cellulose-ester-market/request/rs1

Carboxymethyl Cellulose (CMC) is extensively utilized by the food and beverage industry. It is employed as a thickener, emulsifier, and stabilizer, which enables food to maintain its uniform flavor, concentration, and texture. Mounting consumption of emulsifiers in frozen desserts, margarine, chocolates, peanut butter, baked products, and salad dressings has propelled the product demand. The packaged food market has witnessed considerable growth in the past few years on account of changing consumer perceptions toward their eating habits. This change is primarily driven by evolving consumer lifestyle that includes long working hours and quick access to packed foods available in a wide range of cuisines.

Cellulose Esters And Ethers Market Report Highlights

• The cellulose nitrate product type segment is expected to witness a high growth rate of nearly 6.5%, owing to its widening usage in application industries such as printing inks, and automotive paints. In addition, the application of cellulose nitrate in musical instruments as a finishing agent for strings in guitars and mandolins coupled with its color application such as wiping stains, toners, and glazes is anticipated to have a positive impact on the market
• The kraft process segment is expected to witness the fastest CAGR of 5.4% over the forecast period, as this process uses a broader range of various fiber sources as compared with the majority of other processes. Also, the fibers used in this process are of improved strength and the raw materials used are more significant
• In Asia Pacific, the market is expected to witness the highest growth rate of approximately 11.4% over the forecast period. This high rate is because of ever-growing pharmaceutical sector in the region, especially in the U.S., due to increasing healthcare expenditure on R&D activities and medicines development
• The market for cellulose esters and ethers is competitive in nature. The key market players are using competitive pricing on products which has led the market players to shift towards using cheaper materials. However, the increase in the prices of products may affect the overall prices of end-use industry products such as personal care and cosmetics, and aroma chemicals
• Manufacturers are projected to increase the prices of products such as cellulose acetate and methylcellulose owing to their high demand, especially from the Asia Pacific region. The presence of various end-user industries also affects the price structure of the products. For instance, the Middle East and Africa region lacks a manufacturing base for the personal care and cosmetics industry, resulting in higher import duties on cellulose derivatives

List of Key Players of Cellulose Esters And Ethers Market

• Borregaard
• Georgia-Pacific
• Rayonier Advanced Materials
• Celanese Corporation
• Eastman Chemical Company
• Rhodia Acetow International GmbH
• AkzoNobel N.V.
• Ashland
• Daicel Corporation