The rising number of cigarette consumers and the rise in demand for cellulose acetate from the textile & apparel sector are propelling the market growth.
Cellulose Acetate Market Size – USD 4.11 Billion in 2018, Market Growth – CAGR of 5.6%, Market Trends – Preference for eco-friendly acetate filter tow with enhanced biodegradability.
The global Cellulose Acetate market is estimated to reach a valuation of USD 6.33 Billion by the end of 2026, growing at a CAGR of 8.48% CAGR through the forecast timeline. 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.
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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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.
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; 2016-2026)
Product Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Cellulose Acetate Tow
- Cellulose Acetate Flakes
- Cellulose Acetate Filament
Applications Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Cigarette Filters
- Textile & Apparel
- Photographic Films
- Tapes & Labels
Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- North America
- Asia Pacific
- Latin America
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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.
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Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
Chapter 4. Cellulose Acetate Market Segmentation & Impact Analysis
4.1. Cellulose Acetate Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
126.96.36.199. Rising number of cigarette consumers
188.8.131.52. Rise in demand for cellulose acetate in Asia-Pacific
4.2.3. Market restraints analysis
184.108.40.206. Increasing awareness regarding health risks associated with smoking
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
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