Industries Study Report

Global Cellulose Acetate Market is expected to grow at a CAGR of 5.78% in the upcoming period as the scope and its applications are rising enormously across the globe. Cellulose acetate is a synthetic compound obtained from the acetylation of the plant substance cellulose. It is spun into textile fibers termed as triacetate, acetate rayon, or acetate. It may be molded into solid plastic parts like food wrapping, handles, or cast into a film for photography.

The factors that are playing a major role in the growth of market are increasing technological enhancement and infrastructural developments and growing investment by manufacturers for developing effective cigarette filters of cellulose acetate. However, governments’ strict policy regarding wood pulp procurement may restrain overall market growth in the years to come. Cellulose acetate market is segmented based on type, application, and region.

Plastic and fiber are the types that could be explored in cellulose acetate in the forecast period. The fiber type sector accounted for the substantial market share of cellulose acetate and is estimated to lead the overall market in the years to come. The reason could be the high demand from end-users like textiles & apparels and cigarette manufacturing and its easy availability.

The market could be categorized based on application like tapes & labels, cigarette filters, photographic films, textiles & apparel, and others could be explored in the forecast period. Textile and apparel sector is estimated to grow at the fastest pace in the years to come. The reason could be a rising demand for specialty cellulose acetate and technological enhancement in the textile industry.

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Globally, Asia Pacific accounted for the substantial market share of cellulose acetate and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be increasing the use of cellulose acetate in tapes & labels, cigarette filters, photographic films, and textiles & apparel.

Also, the availability of cheap labor in developing countries, high economic growth, and developing manufacturing industries are another factors boosting overall market growth in the years to come. The developing countries like India and China are the major consumers of cellulose acetate in this region.

North America and Europe are also estimated to have a positive influence on future growth. North America is the second largest region with significant market share. However, Europe is estimated to grow at the highest CAGR in the forecast period. The key players of the cellulose acetate market are Eastman Chemical Company, Celanese, Daicel, Mitsubishi Chemicals, and China Tobacco Corporation. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.

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