Cellulose Esters Market to Witness a Pronounce Growth During 2018 to 2026
Cellulose Esters Market: Introduction
Cellulose is an abundantly available renewable organic material produced in biosphere. It possesses superior properties such as good mechanical strength, biocompatibility, hydrophilicity, alterable optical appearance. Cellulose can be efficiently used in many applications. For instance, it can be employed in the chemical industry. However, it is challenging to use cellulose in the chemical industry due to its poor solubility. In order to overcome this challenge, cellulose is converted into its derivatives such as cellulose ester. Cellulose esters are derived from the esterification and acylation resulting from the reaction of cellulose with organic and inorganic acids. Cellulose esters are employed in various applications such as cigarette filters, films & tapes, coatings, and plasticizers. Esterification of cellulose by reacting it with acid anhydrides in the presence of mineral acid catalyst is a commonly used process, particularly for the manufacture of cellulose acetate on commercial scale.
Cellulose Esters Market: Segmentation
The cellulose esters market can be segmented based on type, application, and region. In terms of type, the cellulose esters market can be classified into cellulose acetate, cellulose acetate butyrate, cellulose acetate propionate, cellulose nitrate, and others. Cellulose acetate and cellulose nitrate possess superior properties such as versatility and transparency. Therefore, cellulose acetate and cellulose nitrate are widely used in the production of artifacts. Cellulose acetate also possesses superior qualities such as solubility, turbidity, and high degree of substitution. Hence, demand for cellulose acetate has been increasing in applications such as manufacture of cigarette filters, films & tapes, and others. Cellulose esters are employed widely in applications such as coatings, plasticizers, films & tapes, automotive, packaging, and oil & gas. Demand for cellulose esters in these applications has been rising owing to its excellent biodegradability profile and filtration properties. Automotive and packaging industries are expected to expand significantly in the near future. This is anticipated to propel the demand for cellulose esters market in the next few years. Demand for cellulose esters is estimated to increase in the cigarette industry, as cellulose esters are used in filters of cigarettes.
Cellulose Esters Market: Regional Outlook
Based on region, the cellulose esters market can be segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. China has the largest tobacco industry in the globe. In terms of production, the country accounts for around 40% share of the cellulose esters market. Many major cigarette manufacturers from North America and Europe are shifting to Asia Pacific due to the availability of raw materials at cheaper rates, ease of availability of industrial land, presence of cheap labor, and rising population. Thus, the cellulose esters market in North America and Europe is projected to expand at a sluggish pace during the forecast period. On the other hand, the cellulose esters market in Asia Pacific is likely to expand significantly in the near future. Latin America and Middle East & Africa account for relatively lower share of the global cellulose esters market. However, increase in technological developments in these regions is expected to create new opportunities for the cellulose esters market.
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Cellulose Esters Market: Competitive Landscape
Key players operating in the cellulose esters market include Eastman Chemical Company, China National Tobacco Corporation, Daicel Corporation, Sappi Limited, Mitsubishi Chemical Holdings Corporation, Celanese Corporation, Sichuan Push Acetati Co., Limited, Rayonier Advanced Materials, and Accordis Cellulosic Fibers, Inc.
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