Cellulose Esters And Ethers Market Size Worth $7.8 Billion By 2027
The global cellulose esters and ethers market size is anticipated to reach USD 7.8 billion by 2027, expanding at a revenue-based CAGR of 4.9%, according to a new report by Grand View Research, Inc. 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 esters and ethers are primarily employed in personal care products such as body lotions, shampoos, face creams, and cold creams owing to their excellent binding, thickening, stabilizing, and moisturizing properties. In addition, increasing product consumption in toothpaste for imparting a smooth texture, improving salt tolerance, and enhancing acid resistance is projected to drive the market.
Cellulose acetate is widely utilized in manufacturing cigarette filters. Key players are concentrating on flavored tobacco products, including flavored smokeless tobacco, e-cigarettes, cigarillos, and hookah, due to their growing popularity across the globe. It also finds applications in numerous printing platforms, including rotogravure, offset, inkjet, and flexographic. Increasing demand for inks for packaging and printing products like newspapers, magazines, and books in China, India, and Vietnam is projected to bolster market growth.
Methylcellulose acts as a binder, film former, preservative, thickener, and retarder in addition to promoting air entrainment in various applications of the construction sector. It is used in building materials such as cement-based tile grouts, cement-based plasters, tile adhesives, and mortars for the skim coat. Rising infrastructural activity in economies such as Saudi Arabia, China, India, and Brazil is anticipated to drive product demand in the construction sector over the forecast period.
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Further key findings from the report suggest:
- Kraft process is projected to sustain the largest market share throughout the forecast period and accounted for over 83.0% of the revenue in 2019
- Cellulose acetate is anticipated to emerge as the largest product segment owing to the growing production of cigarettes
- The cellulose nitrate segment was valued at USD 778.4 million in 2019, and it is expected to emerge as the fastest-growing product from 2020 to 2027
- Cigarette filters application is predicted to dominate the cellulose esters and ethers market while the valuation of cigarette filters application is projected to exhibit a CAGR of 4.4% from 2020 to 2027
- Asia Pacific is expected to emerge at the highest CAGR on account of increasing end-use industries in the region.