The most important cellulose esters are cellulose acetate, and co-esters cellulose acetate-propionate, and cellulose acetate-butyrate.
Rising demand for cellulose esters owing to increasing awareness and concern regarding environmental issues is a key factor expected to propel growth of the global cellulose esters market over the forecast period on account of use of cellulose ester as renewable bio-based material that offers environment sustainability.
However, rising awareness regarding the health risks related to smoking is a factor expected to hamper growth of the global cellulose esters market over the forecast period.
The global cellulose esters market has been segmented on basis of on the basis of type, application, and region. On the basis of type, the target market is segmented into cellulose acetate, cellulose acetate propionate, cellulose acetate butyrate, cellulose nitrate, and others. Others include cellulose diacetate, cellulose sulfates, cellulose acetate phthalate, and cellulose phosphate. Cellulose acetate segment dominates the global market in terms of revenue and is expected to maintain its dominance over the forecast period, owing to increased consumption of cellulose acetate esters in cigarette filters, films & tapes, and coatings. On the basis of application global cellulose esters market is segmented into coatings, films and tapes, cigarette filters, inks, plasticizers, and others. Others segment include fillers, binders, thickeners and stabilizers, and flow improvers.
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Based upon region global cellulose esters market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East Africa. The market in Asia Pacific is estimated to be highest share in terms of revenue, owing to rising demand for demand for cellulose esters for various end-use applications such as in cigarette filters and plasticizers, in the region. The market in Asia Pacific region is witnessing high demand for cellulose esters, especially from China, India, and the Southeast Asian countries owing to its use in pharmaceutical industries as a pharmaceutical drug, in the region.
Key players operating in the global cellulose esters market include Eastman Chemical Company, Solvay SA, China National Tobacco Corporation, Daicel Corporation, Celanese Corporation, Acordis Cellulostic Fibers Inc., Sappi Limited, Mitsubishi Chemical Holdings Corporation, Rayonier Advanced Materials Inc., and Sichuan Push Acetati LLC.