특히 아시아태평양의 신규 경제권에서는 식품 및 음료, 사진 필름, 담배 필터, 섬유·의류 산업 등 다양한 분야로부터 셀룰로오스 에스테르 수요의 증가가 시장의 주요 촉진요인이 되고 있습니다. Verified Market Research의 애널리스트에 따르면 셀룰로오스 에스테르 시장은 2024년에는 122억 3,000만 달러에 달하며, 2031년까지 183억 7,000만 달러의 평가액에 달할 것으로 추정되고 있습니다.
친환경 및 생분해성 제품에 대한 수요 증가도 셀룰로오스 에스테르 시장을 촉진하는 주요 요인입니다. 재생 자원에서 추출한 셀룰로오스 에스테르는 합성 폴리머보다 지속가능한 대안을 제공합니다. 이로 인해 2024-2031년 연평균 5.76%의 연평균 복합 성장률(CAGR)로 시장이 성장할 것으로 예상됩니다.
셀룰로오스 에스테르 시장 정의/개요
셀룰로오스 에스테르는 자연적으로 존재하는 다당류인 셀룰로오스의 에스테르화에 의해 형성되는 화합물의 일종입니다. 셀룰로오스 에스테르는 종종 셀룰로오스를 유기산, 무수물, 산성 염화물과 반응시켜 형성됩니다. 셀룰로오스 에스테르는 원하는 물리적, 화학적, 기능적 특성을 얻기 위해 변화시킬 수 있으므로 다용도하여 다양한 분야에서 유용한 소재가 되고 있습니다.
코팅 및 페인트에서 셀룰로오스 에스테르의 사용 증가는 시장의 중요한 촉진제이며, World Paint &Coatings Industry Association(WPCIA)에 따르면 세계 페인트 및 코팅 시장은 2020-2027년 사이 CAGR 4.3%로 확대되며, 2027년에는 2,320억 달러에 달할 것으로 예상됩니다. 이러한 확대는 이들 제품의 바인더 및 필름 형성제 역할을 하는 셀룰로오스 에스테르에 대한 수요에 직접적인 영향을 미치고 있습니다.
또한 셀룰로오스 에스테르는 의약품 용도, 특히 약물전달 제어 시스템에서 일반적으로 사용되고 있으며, IQVIA Institute for Human Data Science에 따르면 세계 의약품 시장은 2023년까지 1조 5,000억 달러에 달할 것으로 예상되며, 연평균 3-6%의 연평균 복합 성장률(CAGR)을 나타낼 것으로 예상됩니다. -6%를 나타낼 것으로 예상됩니다. 이러한 증가로 인해 의약품 제형 및 코팅제에서 셀룰로오스 에스테르에 대한 수요가 증가하고 있습니다.
환경에 대한 인식이 높아지고 많은 산업에서 화학물질 사용을 규제하는 법률이 강화되면서 셀룰로오스 에스테르 제조업체에 문제가 생기고 있습니다. 일부 생산 방식에는 유해 화학물질이 포함되어 있으며, 환경에 미치는 영향과 작업자 안전에 대한 문제가 발생합니다. 높아지는 환경 기준과 폐기물 관리 규정을 준수하는 것은 운영 비용을 증가시키고 청정 기술에 많은 비용을 지출해야 하므로 일부 기업에게는 시장 확대에 걸림돌이 될 수 있습니다.
또한 셀룰로오스 에스테르는 다양한 분야에서 대체 소재와의 경쟁이 심화되고 있습니다. 예를 들어 페인트 분야에서는 수성 페인트와 분말 페인트가 환경에 미치는 영향이 적기 때문에 인기를 끌고 있습니다. 제약 분야에서는 합성 폴리머를 통해 약물의 방출 특성을 보다 정확하게 제어할 수 있게 되었습니다. 천연 및 합성 대체품과의 경쟁은 특정 시장 부문에서 셀룰로오스 에스테르의 성장 잠재력을 제한하고 있습니다.
The growing demand for cellulose esters from various sectors such as food and beverage, photographic films, cigarette filters, and the textile and apparel industry, particularly in Asia Pacific's emerging economies, is the primary driver of the market. According to the analyst from Verified Market Research, the cellulose esters market is estimated to reach a valuation of USD 18.37 Billion by 2031 over the forecast subjugating around USD 12.23 Billion valued in 2024.
The rising demand for environmentally friendly and biodegradable products is another major factor propelling the cellulose esters market. Derived from renewable resources, cellulose esters provide a more sustainable option than synthetic polymers. It enables the market to grow at a CAGR of 5.76% from 2024 to 2031.
Cellulose Esters Market: Definition/ Overview
Cellulose esters are a class of chemical compounds formed by the esterification of cellulose, a naturally occurring polysaccharide. They are often formed by reacting cellulose with organic acids, anhydrides, or acid chlorides. Cellulose esters are versatile because they may be changed to obtain desired physical, chemical, and functional properties, making them useful materials in a variety of sectors.
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The increased usage of cellulose esters in coatings and paints is a significant market driver. According to the World Paint & Coatings Industry Association (WPCIA), the global paints and coatings market is expected to reach USD 232 Billion by 2027, expanding at a CAGR of 4.3% between 2020 and 2027. This expansion has a direct impact on the demand for cellulose esters, which serve as binders and film-formers in these products.
Furthermore, cellulose esters are commonly employed in pharmaceutical applications, especially controlled drug delivery systems. According to the IQVIA Institute for Human Data Science, the worldwide pharmaceutical market is predicted to approach USD 1.5 Trillion by 2023, with a 3-6% compound annual growth rate. This increase is increasing the need for cellulose esters in medication formulations and coatings.
The growing environmental consciousness and stricter laws governing the use of chemicals in numerous industries present problems for cellulose ester makers. Some production methods contain hazardous chemicals, which raises issues regarding environmental impact and worker safety. Compliance with rising environmental standards and waste management rules raises operational costs and necessitates large expenditures in cleaner technology, which may hinder market expansion for some businesses.
Furthermore, cellulose esters are under increased competition from alternative materials in a variety of applications. For example, in the coatings sector, water-based and powder coatings are becoming more popular due to their lower environmental effect. In pharmaceuticals, synthetic polymers allow for more exact control over medication release characteristics. The competition from natural and synthetic alternatives limits the growth potential of cellulose esters in certain market segments.
According to VMR analysis, the cellulose acetate segment is estimated to hold the largest market share during the forecast period. Cellulose acetate is widely used in many industries, including textiles, films, cigarette filters, and coatings. Its versatility originates from its superior optical characteristics, great strength, and chemical resistance. Because of its extensive applicability, cellulose acetate maintains a leading position in the market, catering to a wide range of industrial and consumer items.
Furthermore, despite global anti-smoking initiatives, the cigarette business is still a major consumer of cellulose acetate, particularly for filters. According to the World Health Organization, there are still more than a billion smokers worldwide. The ongoing demand for cigarette filters, combined with rigorous rules on filter biodegradability, drives the consumption of cellulose acetate.
The coating segment is estimated to dominate the cellulose esters market during the forecast period. Cellulose esters have good film-forming capabilities, endurance, and chemical resistance, making them suitable for coatings in a variety of sectors. Their adaptability makes them suitable for use in automotive, furniture, construction, and industrial applications. This diverse range of end-uses ensures steady demand and contributes significantly to the segment's market leadership.
The global construction and automobile industries are steadily expanding, particularly in developing economies. Cellulose ester-based coatings are widely employed in various industries due to their protective and cosmetic qualities. The growth of these industries is directly proportional to the rising demand for high-quality coatings, which boosts the segment's market share.
Furthermore, stringent environmental restrictions are driving companies to adopt low-VOC (Volatile Organic Compound) and eco-friendly coating solutions. Cellulose esters are ideal for creating low-VOC coatings that meet regulatory criteria while yet providing great performance. This conformance to environmental regulations boosts the coatings segment's position in the cellulose esters market.
According to VMR analyst, North America is estimated to exhibit the highest growth within the cellulose esters market during the forecast period. The construction and automotive industries are important users of cellulose esters, particularly in coatings and paints. According to the US Census Bureau, total construction investment in the United States reached $1.57 trillion in 2021, up 8.2% from 2020. Also, the US Bureau of Economic Analysis reported that the automobile industry generated 3.5% of the US GDP in 2020, with a total output of $732.3 billion. This rise in both industries is increasing demand for cellulose esters in a variety of applications.
Furthermore, the region has a sizable and expanding pharmaceutical industry that extensively employs cellulose esters in medicine formulations and controlled release systems. According to the Pharmaceutical Research and Manufacturers of America (PhRMA), the US biopharmaceutical industry invested an estimated $91 billion in research and development in 2020. Also, the Centers for Medicare & Medicaid Services estimates that healthcare spending in the United States increased by 9.7% in 2020, reaching $4.1 trillion. The rise of the healthcare and pharmaceutical sectors is driving up demand for cellulose esters in the region.
The Asia Pacific region is estimated to dominate the market during the forecast period. The Asia Pacific region's coatings and paints business is expanding rapidly, increasing demand for cellulose esters. The Asian Paint Report 2021 by the Asian Paint Industry Council (APIC) predicts that the region's paint and coatings industry will reach $93.5 billion by 2024, rising at a CAGR of 5.2%. China alone accounts for approximately 30% of the worldwide coatings market, which significantly increases demand for cellulose esters in the region.
Furthermore, the pharmaceutical business in the Asia Pacific is quickly expanding, increasing demand for cellulose esters in medicinal formulations. According to the IQVIA Institute for Human Data Science, the Asia Pacific pharmaceutical market is predicted to increase at an 8.4% CAGR from 2021 to 2026, reaching $485 billion in 2026. This growth rate is much higher than the global average, resulting in increased usage of cellulose esters in pharmaceutical applications throughout the region.
The competitive landscape of the cellulose esters market is marked by fierce competition among several industry participants. The market is a mix of established industry leaders and agile, new companies competing for market share.
Some of the prominent players operating in the cellulose esters market include:
Eastman Chemical Company
Solvay
China National Tobacco Corporation
Daicel Corporation
Celanese Corporation
AkzoNobel
Ashland
Borregaard
M. Huber Corporation
Mitsubishi Chemical Holdings Corporation
Rayonier Advanced Materials
Rhodia Acetow International
Sappi Limited
Sichuan Push Acetati Co. Ltd.
In February 2024, Eastman announced a collaboration with Cargill to create bio-based packaging materials. This could have an impact on the use of cellulose esters in sustainable packaging solutions.
In January 2024, Daicel announced an expansion of its cellulose acetate butyrate (CAB) production capacity in Thailand. This development is intended to fulfill the increased demand for CAB in the automotive and electronics industries.
In November 2023, Solvay announced a collaboration with IKEA to create bio-based alternatives to typical plastics in IKEA products. This collaboration could boost demand for cellulose esters, a potential bio-based alternative.
In October 2023, Celanese announced a collaboration with IKEA to create sustainable furniture made from bio-based materials. This may increase the use of cellulose esters in the furniture business.