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.

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. 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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