Cellulose Acetate Market Forecasts to 2028: Global Industry Growth, Share, Size & Trends

Cellulose Acetate Market Size – USD 4,617.6 Million in 2020, Growth CAGR of 5.3%, Preference for eco-friendly acetate filter tow with enhanced biodegradability

NEW YORK CITY, NY, UNITED STATES, October 26, 2021 /EINPresswire.com/ -- 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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The above-mentioned factors create opportunities for market growth while factors such as volatility of raw material prices, and stringent regulations pose limitations in the market. However, each factor would have a definite impact on the market during the forecast period. Consistent advancements in the cellulose acetate market owing to innovative efforts have enhanced the efficiency of cellulose acetate.

The demography of Asia Pacific has been shifting towards the young population, and the purchasing potential of this young population is also increasing. Most of the developing countries are looking at India and China as the global market. These countries consist of over 40% population across the globe, and application of cellulose acetate in the apparels and cigarette filters will grow at a very high rate.

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.

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.

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For the purpose of this report, Reports and Data have segmented into the global Cellulose Acetate market on the basis of type, product type, application, and region:
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

Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
North America

Europe

Asia Pacific

MEA

Latin America

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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy.

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Tushar Rajput
Reports and Data
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