The global cellulose acetate market is forecast to reach USD 7,027.0 Million by 2028, according to a new report by Reports and Data. Cellulose acetate is a semi-synthetic compound which is manufactured from purified natural cellulose. In the manufacturing of this semi-synthetic compound, natural cellulose is reacted with acetic anhydride. The primary sources of these natural cellulose are cotton linens and wood pulp. Some of the prominent trends that are happening in the market include rising industrialization which provides vast opportunities for the market growth and the expanding textile and apparel industries in the Asia Pacific region and technological developments for cellulose acetate.
The market for cellulose acetate is influenced by the rising number of cigarette consumers all over the world. Preference for low tar cigarettes with a consumer shift towards longer cigarette filters contributes to the market growth.
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Further key findings from the report suggest
- The fiber type segment of cellulose acetate held a larger market share of 67.6% in the year 2018. The growth is due to its easy availability and high demand from the textile & apparel industries and cigarette manufacturers.
- Cellulose Acetate Tow segment held a larger market share of 41.9% in the year 2018. Cellulose acetate tow are largely used in cigarette filters, which reduces the overall tar and nicotine intake while cigarette consumption. As this is comparatively efficient than paper, cotton, and polypropylene, they have a high demand from the cigarette manufacturers.
- Textile & Apparel segment is forecasted to grow with the highest CAGR of 5.9% during the forecast period. The product is used in the textile & apparel industries in the manufacturing of garments. As the material is cheaper in comparison to silk and possesses similar qualities and hence have high demand from the textile and apparel sector.
- The Asia Pacific region is forecasted to grow with the highest CAGR of 6.1% during the forecast period. Rising industrialization with cheap labor availability and expanding textile industry in the region is expected to contribute towards the cellulose acetate market growth in the forecast period.
- Key participants Eastman Chemical Company, Solvay, Celanese Corporation, China National, Tobacco Corporation, Daicel Corporation, Acordis Cellulostic Fibers, Mitsubishi Chemical, Holdings Corporation, Sichuan Push Acetati Co., Ltd., Rayonier Advanced Materials, and Sappi among others.
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Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
- Fiber
- Plastic
Product Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
- Cellulose Acetate Tow
- Cellulose Acetate Flakes
- Cellulose Acetate Filament
- Others
Applications Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
- Cigarette Filters
- Textile & Apparel
- Photographic Films
- Tapes & Labels
- Others
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Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
Significant Features that are under Offering and Key Highlights of the Reports:
– Detailed overview of the Cellulose Acetate Market
– Changes in industry market dynamics
– Detailed market segmentation by type, application, etc.
– Historical, current and projected market size in terms of quantity and value
– Recent industry trends and developments
– Competition situation of Cellulose Acetate Market
– Key companies and product strategies
– Potential niche segment/region showing promising growth.
Finally, the Cellulose Acetate Market Report is the authoritative source for market research that can dramatically accelerate your business. The report shows economic conditions such as major locales, item values, profits, limits, generation, supply, requirements, market development rates, and numbers.
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