The global cellulose acetate butyrate market size was 57 kilo tons in 2017 and is expected to grow on account of its increasing demand in manufacturing paint & coatings and printing inks. The growing usage of CAB in the paints & coating industry as an additive is expected to boost the growth of the global market. Also, the advancement in the technology, expansion in the production capacity and development in R&D are some of the key factors which are driving the growth of the global cellulose acetate butyrate market.
The demand for cellulose acetate butyrate has been high due to its use as an additive in coating formulations as it provides excellent coating properties such as solvent resistance, hardness, clarity and providing a glossy look. Due to these properties, CAB (cellulose acetate butyrate) has been in high demand by the manufacturers of wood and metal coatings, flexographic inks in paints industry, industrial and automotive coatings.
The market for cellulose acetate butyrate (CAB) was valued at USD 694.2 million in 2021 and is expected to reach USD 1,010.2 million by 2030, expanding at a 4.3% compound annual growth rate (CAGR) between 2022 and 2030.
.jpg "The Global Cellulose Acetate Butyrate Cab Market 2020-2030 (USD Million)")
Based on applications, the global cellulose acetate butyrate market is categorized into paints & coatings, printing inks, and lacquers among others. In 2017, paints & coatings accounted for over 50% of the global cellulose acetate butyrate market share, in terms of volume and revenue, and the similar trend is expected to continue during the forecast period due to its increasing demand as an additive. The growth of the global paints & coatings industry is expected to boost the growth of the global cellulose acetate butyrate market. Being one of the most stable and mature industries, the steadily growing demand for paints is expected to drive the demand for CAB in the near future. Also as per one publication of EUROPEAN COATINGS JOURNAL published in 2017, the global architectural paints and coatings market was valued at EUR 52 billion. The demand for paints & coatings is tremendously increasing in the Asia Pacific region as the countries are in the urbanization phase.
Also, the demand for lacquers is anticipated to grow on a similar trend as compared to paints & coatings. The growing demand for lacquers comes majorly from the wood industry as this material is considered as the best finish for woods and helps in embellishing and protecting the wooden surface material.
On the basis of regions, the Asia Pacific region accounted for the maximum share in 2017 of over 45% of the global sales and is likely to grow with the highest CAGR during the forecast period. The growth is attributed to the increasing demand from paint manufacturers in the region. For instance, the Indian paints & coatings industry is estimated to grow at a lucrative demand due to the fiscal incentives given to the housing sector by the government. Also, the growing investments in the housing sector to accommodate the growing Indian population and increasing paint demand from automotive manufacturers will propel the growth of cellulose acetate butyrate market in the coming years.
The global cellulose acetate butyrate market is consolidated due to the presence of a limited numbers of manufacturers. Key players within the market include Eastman Chemical Company, Mitsubishi Chemical Corporation, Daicel Corporation, Haihang Industry Co., Ltd., Celanese Corporation, SIMAGCHEM, Xiamen Hisunny Chemical Co. Ltd., Chemos GmbH&Co.KG, and Rotuba among others.
The companies are concentrating on offering new specialty business and have offered opportunities and integration of technology enabling differential product development in order to target new niche markets. For instance, Eastman Chemical Company, in July 2012, acquired Solutia Inc. ("Solutia"), a global leader in performance materials and specialty chemicals. Additionally, in December 2014, Eastman successfully acquired Taminco Corporation, a global specialty chemical company. These footprints by established players is expected to drive the global cellulose acetate butyrate market growth.
Cellulose Acetate Butyrate (CAB) Market Scope
| Metrics | Details |
| Base Year | 2022 |
| Historic Data | 2020-2021 |
| Forecast Period | 2022-2030 |
| Study Period | 2020-2030 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2030 | USD 1,010.2 million |
| Growth Rate | CAGR of 4.3 % during 2020-2030 |
| Segment Covered | By Growing Application, Regions |
| Regions Covered | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Key Players Profiled | Daicel Corporation, Hangzhou Dayangchem Co., Celanese Corporation, RhodiaAcetow GmbH, Mitsubishi Rayon Co. Ltd, Celanese Acetate, SK Chemicals Co. Ltd, Simagchem Corporation, Eastman Chemical Company, Primester, and Haihang Industry Co. Ltd among others. |
Key segments of the global cellulose acetate butyrate market
Application Overview (USD Million)
- Printing inks
- Paints & Coatings
- Lacquers
- Others
Regional Overview, (USD Million)
- North America
- US
- Europe
- Germany
- UK
- Asia Pacific
- Japan
- China
- Central and South America
- Middle East & Africa
Frequently Asked Questions (FAQ) :
The application of the cellulose acetate butyrate market Paints & Coatings, Lacquers, Printing Inks and other.
The top companies that hold the market share in cellulose acetate butyrate market are Eastman Chemical Company, Daicel Corporation, Mitsubishi Chemical Corporation, Haihang Industry Co., Ltd., SIMAGCHEM, Celanese Corporation, Rotuba, Xiamen Hisunny Chemical Co. Ltd. & among others.