The global cellulose esters market is forecasted to reach USD 15.82 Billion by 2028, according to a new report by Reports and Data. Cellulose is a renewable organic material which has several properties like biocompatibility, alterable optical appearance, and good mechanical strength. The cellulose ester is produced by the process of esterification and acylation.
The market for such esters is influenced by rising industries due to urbanization. The rising applications of coatings, films, and plasticizers are driving the market of cellulose esters. The automotive sector is depended on this market for the manufacturing of films, coatings, plasticizers, and many others. The cost price of the raw materials continuously fluctuates, and the introduction of strict government regulations are creating market restraints.
The factors mentioned above jointly create opportunities for the market growth while factors such as critical effects of cigarette filters manufacturing add limitations in the market. However, each element would have a specific impact on the market during the forecast period. Consistent developments in the market of polysaccharide esters used for industrial purposes owing to innovative efforts have improved the efficiency of cellulose esters.
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Key companies in the report:
Eastman Chemical Company, Celanese Corporation, DowDuPont, Mitsubishi Chemical Holdings Corporation, Sichuan Push Acetati Co.Ltd., Nitro Química, Hangzhou Dayangchem Co.Ltd., Zhejiang Honghao Technology Co. Ltd., Johnson & Johnson Services Inc., and SK chemicals, among others.
Rising global population has led to increasing number of construction and building activities across the globe, in turn, driving demand for materials and chemicals. Availability of advanced finishing materials, environmentally sustainable raw materials and chemicals, and growing progress of plastics industry has significantly contributed to the revenue growth of the market. Chemicals and materials industry is a crucial part of the world economy and produces over 70,000 products that are needed across various end-use industries. Consumer products such as soaps, detergents, and cosmetics, along with electronic gadgets, automobiles, and paints & cosmetics, among others are in high demand across the globe and are majorly dependent on various types of chemicals and materials. International corporations are actively engaged in developing sustainable products to reduce carbon emissions and pollution and ensure safe operations of the facilities. These key factors have significantly contributed to market revenue growth and is expected to continue to do so going ahead.
For the purpose of this report, Reports and Data have segmented into the global Cellulose Esters market on the basis of type, application, end-users and region:
Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
Films & Tapes
Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
Cellulose Acetate Propionate
End-Users Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
Automotive & Transportation
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Key companies are focused on mergers and acquisitions, joint ventures, collaborations, partnerships, product launches, brand promotions, and R&D activities among others to cater to growing global demand and gain a strong foothold in the market. The report also analyzes the presence of key companies, their ventures, and investment and funding opportunities in key regions of the world including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The study covers critical information and factual data about the Cellulose Esters industry along with an in-depth statistical analysis of the market drivers, limitations, growth prospects, opportunities, and threats. The report also covers SWOT analysis and Porter’s Five Forces analysis to offer better understanding of the competitive landscape of the global Cellulose Esters market.
Key Features of Global Cellulose Esters Market:
The report offers a deep insight into the market with expert data insights from the industry experts and analysts
Dedicated focus on market growth and restraining factors
Thorough analysis of the market segments includes product types, application spectrum, technology, end-user, and other key segments
Current and emerging market trends and growth prospects
A detailed market forecast covering 8 years from 2021 to 2028
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