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Cellulose Esters and Ethers Market Size to Reach $10.02 Billion by 2029 | Growth at 8.8% CAGR Forecast
Cellulose Esters and Ethers
What is the Projected Market Size of the Cellulose Esters and Ethers Industry?
In recent times, there has been a significant increase in the market size of cellulose esters and ethers. Predictions indicate a rise from $6.69 billion in 2024 to $7.16 billion in 2025, with a compound annual growth rate (CAGR) of 7.0%. This notable progression during the historic phase is a result of variables such as the amplified demand in the paint and coating industry, escalated utility in the pharmaceutical sector, a surge in the food and beverage industry, the expansion of the plastics and polymers sector, and the progression of the textile industry.
What Will Be the Size of the Cellulose Esters and Ethers Market by 2029?
In the coming years, the cellulose esters and ethers market is anticipated to witness robust growth. The market size is projected to reach $10.02 billion by 2029, expanding at a compound annual growth rate (CAGR) of 8.8%. This anticipated growth in the projected period is due to factors like the growth of emerging markets, an uptick in research and development activity, the rise of specialty applications, enhanced healthcare infrastructure, and a growing demand for water-based formulations. Trends predicted to shape this market in the forecast period include sustainable methods of production, innovative solutions' introduction, advancements in technology, and the creation of personalized products.
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What Are the Key Drivers Accelerating Growth in the Cellulose Esters and Ethers Market?
The blossoming of the personal care sector is propelling the expansion of the cellulose esters and ethers market. These components are vastly used in personal care items like body moisturizers, hair cleansers, facial creams, and cold creams due to their outstanding bonding, thickening, steadying, and hydrating capacities. As per the beauty market's projections in May 2023, a unique State of Fashion report presented by McKinsey & Company, a consultancy organization from the US. In 2022, the beauty sector, embracing skincare, perfume, cosmetics and hair care, amassed around $430 billion in profit. The sector is forecasted to expand at a yearly pace of approximately 6 percent, escalating to roughly $580 billion by the end of 2027. Consequently, the surge in the personal care sector is powering the cellulose esters and ethers market expansion.
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How Is the Cellulose Esters and Ethers Market Segmented by Type, Application, and Region?
The cellulose esters and ethers market covered in this report is segmented -
1) By Product: Cellulose Acetate, Cellulose Nitrate, Carboxymethyl Cellulose, Methyl Cellulose, Ethyl Cellulose, Hydroxyethyl Cellulose, Hydroxypropyl Cellulose
2) By Process: Kraft Process, Sulphite Process
3) By End User Industry: Food And Beverages, Oil And Gas, Paper And Board, Paints And Adhesive, Detergents, Other End Users
Subsegments:
1) By Cellulose Acetate: Acetate Flake, Acetate Film, Acetate Tow
2) By Cellulose Nitrate: Collodion, Nitrocellulose Film, Nitrocellulose Solutions
3) By Carboxymethyl Cellulose (CMC): Food Grade CMC, Industrial Grade CMC
4) By Methyl Cellulose: Food Grade Methyl Cellulose, Industrial Grade Methyl Cellulose
5) By Ethyl Cellulose: Ethyl Cellulose Powder, Ethyl Cellulose Granules
6) By Hydroxyethyl Cellulose (HEC): HEC Powder, HEC Solutions
7) By Hydroxypropyl Cellulose (HPC): HPC Powder, HPC Granules
What Are the Key Trends Driving Growth in the Cellulose Esters and Ethers Market?
Innovative product development is influencing the dynamics of the cellulose esters and ethers market. Progress in technology and the growing popularity of cellulose esters and ethers technology are further stimulating market demand. Take, for instance, in January 2023, Eastman Chemical Company, based in the US, introduced cellulose esters designed to boost sustainability and efficiency in diverse applications such as personal care and coatings. The focus of this product line is to enhance the performance of formulations while adhering to environmental-friendly characteristics.
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Who Are the Leading Companies Driving Growth in the Cellulose Esters and Ethers Market?
Major companies operating in the cellulose esters and ethers market include Borregaard Group., Rayonier Advanced materials, Celanese Corporation, Eastman Chemical Company, Nouryon, Ashland Inc., Daicel Corporation, Dow Inc., Sappi Limited, Lamberti S.p.A, Asha Cellulose pvt ltd., Sichuan Push Acetati Co.Ltd., J.M. Huber Corporation, Georgia-Pacific LLC, Akzo Nobel N.V., Rhodia Acetow International GmbH, Shandong Head Group Co Ltd., Lotte Group., Mikem Chemical, ChemPoint inc., CP Kelco U.S. Inc., Sichem LLC, Mitsubishi Chemical Corporation, Solvay SA., China Ruitai International Holdings Co Ltd., Huzhou Zhanwang Pharmaceutical Co Ltd.
Which Is the Leading Region in the Global Cellulose Esters and Ethers Market?
North America was the largest region in the cellulose esters and ethers market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cellulose esters and ethers market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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