The global cellulose acetate butyrate market is anticipated to reach USD 997.8 million by 2025, driven by the growing consumer demand for paints & coatings, lacquers, and printing inks. Increasing construction activities and growing automobile production are expected to bolster the growth of the market further.
|Cellulose Acetate Butyrate Market|
Paints & coatings made with cellulose acetate butyrate are used in various applications including automotive plastics, leather, plastic, wood, aviation, medical & healthcare, and architecture. The global CAB market for paints & coatings market is expected to reach USD 532 million by 2025.
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Increasing infrastructure spending coupled with increasing automobile production in Asia Pacific is projected to drive the demand for paints & coatings, which in turn is expected to influence the demand for CAB positively. The market is anticipated to grow at a volume CAGR of 3.8% over the next eight years.
Printing inks are expected to be another lucrative segment for the CAB market, with the introduction and implementation of mandatory labeling regulations by various regulatory authorities including FDA. Reducing the weight of a packaging coupled with stringent regulations to print all the information regarding the packed product is expected to augment the demand for printing inks that are not affected by external environment conditions. The segment is expected to grow at a volume CAGR of 3.2% over the projected period.
|Cellulose Acetate Butyrate Versatile Application|
Some of the key players in the market with a global presence include Eastman, Mitsubishi Rayon and Diacel and Celanese. Other vendors in the market include Xiamen Hisunny Chemical Co., Ltd., Chemos GmbH & Co. KG, Haihang Industry Corporation, and Simagchem Corporation. With the relative growth in demand from the end-use markets such as paints and coatings, lacquers, and printing inks, the market is expected to witness an upward move over the forecast period.
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Technology advancement along with expansion in capacity and development in R&D facility is expected to be a key trend in the CAB market over the coming years. Companies are focusing on developing the product with properties such as increased hardness, durability, low moisture absorption and high impact strength. Product innovation is anticipated to result in increasing the application scope of the product, thereby, propelling its growth over the next few years.