Global Cellulose Esters Market is set to rise from its initial estimated value of USD 9.20 billion in 2018 to an estimated value of USD 14.38 billion by 2026, registering a CAGR of 5.75% in the forecast period of 2019-2026. This rise in market value can be attributed to the increasing demand of its applications in the cigarette filters market and coatings market.
Cellulose is an organic compound that is majorly found in the cell walls of plants, occurring naturally in fibrous products like cotton, wood and dried hemp. It is majorly applied in a number of industries and products due to its abundance as an organic polymer. This organic compound is integrated with reagents and cellulose esters are formed. These esters are majorly used as film and fibre coating materials.
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Competitive Analysis: Global Cellulose Esters Market
Global cellulose esters market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of cellulose esters market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Cellulose Esters Market
Few of the major competitors currently working in the cellulose esters market are Eastman Chemical Company, Solvay, Daicel Corporation, Celanese Corporation, Sappi, Mitsubishi Chemical Holdings Corporation, Rayonier Advanced Materials, Sichuan Push Acetati Co.Ltd., Rotuba, DowDuPont, Nitrex Chemicals India Ltd, Nitro Química, Synthesia a.s., sichuan nitrocell Co. LTD., Hangzhou Dayangchem Co.Ltd., NOBEL NC, Hagedorn AG, Novartis AG, F. Hoffmann-La Roche Ltd, Abott, Johnson & Johnson Services Inc., Bayer AG, Zhejiang Honghao Technology Co. Ltd., and SK chemicals.
Segmentation: Global Cellulose Esters Market
Global Cellulose Esters Market, By Type (Cellulose Acetate, Cellulose Acetate Propionate, Cellulose Acetate Butyrate, Cellulose Nitrate, Others), Application (Coatings, Films & Tapes, Cigarette Filters, Inks, Plasticizers, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends and Forecast to 2026
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- Increasing demand from the industries located in the Asia-Pacific region is expected to drive the market growth
- Advancements and developments in the market for the application of cellulose esters is expected to drive the market growth
- Unstable and unreliable raw material prices are expected to restrain the market growth
- Rising awareness and health concerns regarding the consumption of cigarettes which is one of the major applications for cellulose ester is expected to restrain the market growth
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved
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