PUBLISHER: The Business Research Company | PRODUCT CODE: 1391084
PUBLISHER: The Business Research Company | PRODUCT CODE: 1391084
“Cellulose Esters and Ethers Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on cellulose esters and ethers market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for cellulose esters and ethers? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The cellulose esters and ethers market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Cellulose esters and ethers encompass water-soluble polymers derived from cellulose, finding extensive use in various industries. These polymers are widely employed as thickening agents in the paint industry and serve as thickeners in the food and beverage sector. More recently, they have also found applications in the pharmaceutical and cigarette industries.
The primary types of cellulose esters and ethers include cellulose acetate, cellulose nitrate, carboxymethyl cellulose, methyl cellulose, ethyl cellulose, hydroxyethyl cellulose, and hydroxypropyl cellulose. Cellulose acetate, also known as a synthetic compound, is derived from the acetylation of the plant substance cellulose. It is commonly used in the textile industry for producing fibers, known by various names such as acetate rayon, acetate, or triacetate. Various methods, including the kraft process and sulfite process, can be employed to process cellulose esters and ethers. These polymers find applications in diverse industries, including food and beverages, oil and gas, paper and board, paints and adhesives, detergents, and others.
The cellulose esters and ethers market research report is one of a series of new reports from The Business Research Company that provides cellulose esters and ethers market statistics, including cellulose esters and ethers industry global market size, regional shares, competitors with a cellulose esters and ethers market share, detailed cellulose esters and ethers market segments, market trends and opportunities, and any further data you may need to thrive in the cellulose esters and ethers industry. This cellulose esters and ethers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The cellulose esters and ethers market size has grown strongly in recent years. It will grow from $6.19 billion in 2023 to $6.73 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The expansion observed in the historical period can be attributed to various factors, including increased activity in the coating and paint industry, expanded applications in the pharmaceutical sector, growing demand in the food and beverage industry, increased activities in the plastics and polymers sector, and the overall growth of the textile industry. These factors collectively contributed to the increased utilization of cellulose esters and ethers during this period.
The cellulose esters and ethers market size is expected to see strong growth in the next few years. It will grow to $9.33 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. Anticipated growth in the forecast period can be attributed to factors such as the growth of emerging markets, increasing investments in research and development, a rise in specialty applications, the expansion of healthcare infrastructure, and an increasing demand for water-based formulations. Noteworthy trends expected in the forecast period encompass sustainable materials production, the introduction of innovative solutions, technological advancements in the production of cellulose esters and ethers, and the development of customized products to meet specific industry needs.
The growth of the cellulose esters and ethers market is being driven by the expansion of the personal care industry. These compounds, known for their binding, thickening, stabilizing, and moisturizing properties, are extensively used in personal care products like body lotions, shampoos, face creams, and cold creams. Notably, India's beauty and personal care market reached $25.9 billion in 2020 and is expected to reach $32.7 billion by 2023, indicating a favorable climate for direct-to-consumer beauty and personal care brands in the country.
The cellulose esters and ethers market is anticipated to thrive further due to the robust growth of the food and beverage sector. Serving as crucial components in this industry, these compounds function as thickening agents, stabilizers, emulsifiers, and binding agents. They contribute to the quality and longevity of various food products, including baked goods, frozen meals, and beverages. In 2021, sales of food and beverages in the US foodservice and restaurant sector are projected to reach $789 billion, marking a substantial 19.7% increase from the previous year.
The cellulose esters and ethers market is experiencing transformation through the development of innovative products and technological advancements. The continuous evolution of cellulose esters and ethers technology is fostering increased market demand. Notably, Daicel Chiral Technologies introduced CHIRALPAK IK in 2021, a novel immobilized selector utilizing cellulose instead of amylose as the polymer. This advancement promises novel separations of molecules, expanding the capabilities of Daicel's line of Immobilized columns. These technological developments underscore the dynamic nature of the cellulose esters and ethers market, creating new opportunities for exploration and application.
Major players in the cellular M2M market are strategically collaborating to enhance their offerings and better serve their existing consumer base. One notable example is the collaboration between Eastman Chemical Company and MYKITA GmbH. Eastman Chemical Company, a US-based manufacturer of cellulose acetate and other chemicals, collaborated with MYKITA GmbH to exclusively provide Eastman Acetate Renew, a more sustainable cellulose acetate, for the manufacture of MYKITA's eyewear. This partnership marks a significant shift in the eyewear industry towards sustainable materials, representing the first comprehensive move in this direction. The collaboration, announced in March 2022, is part of both companies' ongoing efforts to reduce their environmental impact. MYKITA GmbH, based in Germany, is a high-end eyewear manufacturer.
In 2021, Tokyo-based Polyplastics Co., Ltd., a manufacturer and seller of various polymers and plastics, made a strategic acquisition by purchasing Daicel-Evonik Ltd. for an undisclosed amount. This move allows Polyplastics Co., Ltd. to broaden its product portfolio and foster collaboration with Evonik Industries AG for business growth and synergies. Daicel-Evonik Ltd., headquartered in Germany, specializes in the development of high-quality, high-performance polymers, including cellulose esters and ethers, along with Polyamide 12 and PEEK. The acquisition reflects Polyplastics Co., Ltd.'s commitment to strategic expansion and innovation in the polymer and plastics industry.
Major companies operating in the cellulose esters and ethers market include Borregaard Group., Rayonier Advanced materials, Celanese Corporation, Eastman Chemical Company, Nouryon, Ashland Inc., Daicel Corporation, Dow Inc., Sappi Limited, Lamberti S.p.A, Asha Cellulose pvt ltd., Sichuan Push Acetati Co.Ltd., Acordis Cellulostic Fibres, J.M. Huber Corporation, Georgia-Pacific LLC, Akzo Nobel N.V., Rhodia Acetow International GmbH, Shandong Head Group Co Ltd., Lotte Group., Mikem Chemical, ChemPoint inc., CP Kelco U.S. Inc., Sichem LLC, Mitsubishi Chemical Corporation, Solvay SA., China Ruitai International Holdings Co Ltd., Huzhou Zhanwang Pharmaceutical Co Ltd.
North America was the largest region in the cellulose esters and ethers market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cellulose esters and ethers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The countries covered in the Cellulose Esters and Ethers market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The cellulose esters and ethers market consists of sales of carboxymethylcellulose CMC, hydroxyethylcellulose (HEC) and hydroxylpropylcellulose (HPC). Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.