[FURL=https://www.industryarc.com/Research/Cellulose-Esters-Market-Research-500194?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Cellulose esters market[/FURL] size is forecast to reach US$12.8 billion by 2026, after growing at a CAGR of 5.5% during 2021-2026. The growth of the cellulose esters market is attributed to its increasing applications in cigarette filters, films and tapes, and coatings. Cellulose is the most abundant organic polymer on the planet. It is an important structural component of the plant cell wall. Hence, it is the main raw material for many semi-synthetic cellulose derivatives such as cellulose esters and cellulose ethers.Key Takeaways
Asia-Pacific dominates the cellulose esters market, owing to the increasing manufacturing and construction industries in the region. According to Invest India, the construction industry in India is expected to reach US$1.4 trillion by 2025.
Cigarette filters are specifically designed to absorb vapors and to accumulate particulate smoke components. Filters also prevent tobacco from entering a smoker's mouth and provide a mouthpiece that will not collapse as the cigarette is smoked. 95% of cigarette filters are made of cellulose acetate.
The major opportunity for this market is high research spending and developing ecofriendly manufacturing processes. Cellulose esters are based on cellulose, one of the most abundant natural renewable resources. Some manufacturers use cellulose from trees harvested from sustainably managed forests. Thus, making the process environmentally sustainable.
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Cellulose Esters Market Segment Analysis – By Geography
Asia-Pacific region held the largest share in the cellulose esters market in 2020 up to 45%, owing to the growing construction and cigarette industries in the region. Cellulose esters are used in making cigarette filters. Asia has the highest number of tobacco users and is the prime target of multi-national global tobacco companies. The Western pacific region, comprising Asia and the Eastern Pacific, has the world’s highest tobacco use rates, and two-thirds of all men using tobacco. According to World Health Organization (WHO) figures, more than 300 million Chinese smoke and around 275 million Indians are tobacco users.
Cellulose Esters Market – Drivers
Increasing Applications of Cellulose Esters
Growing Textile Industry
Cellulose Esters Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Cellulose esters market. Cellulose esters market top companies are: Eastman Chemical Company, Solvay, China National Tobacco Corporation, Daicel Corporation, Celanese Corporation, Acordis Cellulostic Fibers, Sappi, Mitsubishi Chemical Holdings Corporation, Rayonier Advanced Materials, Sichuan Push Acetati
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