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In the cellulose esters industry, several trends are shaping the industry landscape. Firstly, there is a noticeable shift towards sustainable and eco-friendly materials driven by increasing environmental awareness and regulatory pressure. Cellulose esters, derived from renewable sources such as wood pulp, are gaining traction as viable alternatives to traditional plastics due to their biodegradability and lower environmental impact. This trend is driving the adoption of cellulose esters across various industries, including packaging, textiles, and personal care, where consumers are increasingly seeking environmentally friendly options.
Secondly, there is a growing emphasis on innovation and product development to enhance the performance characteristics of cellulose esters. Manufacturers are investing in research and development to improve properties such as mechanical strength, thermal stability, and barrier properties, making cellulose esters more competitive with synthetic polymers. Additionally, there is a focus on expanding the application scope of cellulose esters into new and emerging markets, such as 3D printing and biomedical applications, further driving market growth. Overall, these trends underscore the dynamic nature of the market and highlight the importance of sustainability and innovation in driving future growth and market expansion.
North America industry size for cellulose esters generated USD 4.23 billion in 2023 and is estimated to record substantial growth through 2032 attributed to the presence of mature industrial infrastructure and advanced manufacturing capabilities in the region.
Some of the top firms engaged in the cellulose esters industry are Acordis Cellulosic Fibers, AkzoNobel, Ashland, Borregaard, Celanese, China National Tobacco Corporation, Daicel, Eastman Chemical, J.M. Huber, Mitsubishi Chemical Holdings, Rayonier Advanced Materials, Rhodia Acetow International, Sappi, Sichuan Push Acetati, and Solvay.
Cellulose esters market from the coatings application segment accounted for 34% revenue share in 2023 and is anticipated to grow at a notable CAGR through 2032 owing to increasing use in coatings, film and tapes, textiles, and cigarette fillers industries due to their unique properties and versatile applications.
Market size for cellulose esters was USD 13 billion in 2023 and is set to expand at over 5.7% CAGR between 2024 and 2032 driven by the growing demand for eco-friendly and sustainable materials across various industries.