LOS ANGELES, April 05, 2019 (GLOBE NEWSWIRE) -- The global cellulose acetate butyrate market expected to grow at a noteworthy CAGR of around 3.8% during the period from 2019 to 2026. Some of the major factors behind these projections include growing infrastructure expenditure coupled with rising automobile production in Asia Pacific is projected to drive the demand for paints & coatings, which in turn is expected to influence the demand for cellulose acetate butyrate. Report study estimates the global Cellulose acetate butyrate market to grow at a significant rate and reach the market size of over $6 Billion by 2023. Cellulose acetate butyrate is a Rising construction activities and increasing automobile production are expected to foster the growth of the market further.

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Asia-Pacific is the largest market for Cellulose acetate butyrate supported by growth from India and China

The report focuses on the regional markets including North America, Europe, Asia-Pacific, and Rest of the World. Among these markets, Asia-Pacific was the largest market for Cellulose acetate butyrate and is expected to maintain its leading position throughout the forecast period. Some of the recent Cellulose acetate butyrate projects in India and growing acceptance of this growing technology infrastructure in the automobile and construction sector are predominantly expected to boost the market growth in this region.

Medium size infotainment terminal to lead the global Cellulose acetate butyrate market

The global Cellulose acetate butyrate market is segmented based on growing application, and geography. Based on application, the market is segmented into paints & coatings, lacquers, printing inks, others. Printing inks is expected as the largest segment.

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Based on the application, the global Cellulose acetate butyrate market is segmented into Hospitals, Treatment Centers, and Others. Printing inks are projected to be another profitable segment for cellulose acetate butyrate market, with the development of mandatory labelling regulations by various regulatory authorities including FDA. Printing inks is the most preferred growing application in cellulose acetate butyrate. This segment accounted for more than half of the total market revenue in 2014 and the dominance of this segment is expected to continue over the forecast period. Paints & coatings uses subsequently made with cellulose acetate butyrate are used in various applications including automotive plastics, leather, plastic, wood, aviation, medical & healthcare, and architecture.

Some of the leading companies operating in the global cellulose acetate butyrate market include 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. With the relative growth in demand from the end-use markets such as lacquers, paints and coatings, and printing inks, the market is expected to witness an upward move over the forecast period.

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Technology innovation along with expansion in capacity and development in Research and development facility is anticipated to be a key trend in the cellulose acetate butyrate market during the forecast period.Most of the companies are focusing on developing the product with properties such as increased durability, low moisture absorption, hardness, and high impact strength. In addition, product development is expected to result in growing the application scope of the product, thereby, propelling its growth over the next few years .

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