The global cellulose acetate market size is projected to grow from USD 5.9 billion in 2021 to USD 6.8 billion by 2030, at a CAGR of 4.7% from the forecasts period 2022 to 2030. Cellulose acetate is a compound that is synthetically derived from the acetylation of cellulose. It can also be produced by treating acetic acid with cotton and in this process, sulphuric acid is used as a catalyst. It is made from wood pulp (pulp is processed using acetic anhydride which as result comes out as acetate flake and is further used in the synthesis of cellulose acetate).
Market Segmentation
Looking at the latest research analysis, the cellulose acetate market can be bifurcated based on type and applications. Out of all the segments of this market, the cigarette filters segment will witness tremendous growth during the forecast period. As cellulose acetate has astonishing filtering properties and is biodegradable which makes it is a popular filter material of choice. Also, the growing cigarette manufacturing industry and the rising number of youth getting inclined toward smoking are some of the important factors which will uplift the growth of this segment during the forecast period.
If we look at this industry then based on type, it is categorized into fiber and plastic.
Based on the application, it has spectacle frames, textiles, apparel, cigarette filters, photographic films, tapes, and labels.
Regional Analysis
Regionally, the global cellulose acetate market is spanned across five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
The Asia Pacific dominated the global cellulose acetate market in 2016 on account of the high demand from the textiles & apparel industry. The changing lifestyle in the emerging countries such as India and China is likely to fuel the market growth
Textiles & clothing is a diverse sector playing an important role in the European manufacturing industry, which is expected to drive the global cellulose acetate market. Italy, Germany, France, Spain, and the U.K are major contributors to textiles and fashion goods that produce a wide range of products such as carpets, home textiles, cellulosic fibers, and technical textiles.
High demand from the food packaging and textiles industry is expected to drive the cellulose acetate market in the North American region during the forecast period, 2021-2030
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Competitive Analysis of Cellulose Acetate Market Report:
Some of the manufacturers operating in the global cellulose acetate market are Eastman Chemical Company (U.S.), Solvay (Belgium), Mitsubishi Chemicals Holdings Corporation (Japan), Celanese Corporation (U.S.), Daicel Corporation (Japan), China National Tobacco Corporation (China), Accordis Cellulosic Fibers, Inc. (U.S.), SK Chemicals (South Korea), Sichuan Push Acetati Co., Ltd. (China), Sappi (South Africa), Rayonier Advanced Materials (U.S.), and Borregaard (Norway).
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