The global Cellulose acetate is expected to grow from USD 5.0 billion in 2021 to USD 6.3 billion by 2026, at a CAGR of 4.7% during the forecast period. Increasing demand from the cigarette filters applications is majorly driving the growth of the market. The cellulose acetates are used in cigarette filters, textiles & apparel, photographic films, tapes & labels, medical sector, coatings, and various other applications. However, the negative impact of the COVID-19 pandemic on the end use industries has affected the cellulose acetate market adversely.
The plastics is the fastest growing segment by cellulose type in terms of value and volume. The plastics based cellulose market is expected to witness high growth because of the growth in the product requirements, the growth in developing economies, and the technological developments in different applications.The increasing demand for natural plastics is expected to drive the industry growth in the coming years owing to its characteristics, including strong durability, glistened shine, lustrous texture, and high transparency.
Furthermore, with the growing concern of the consumers regarding the pollution and environmental degradation various steps are being taken by the government across the globe to ensure safety and integrity of the environment. Due to this reason the traditional non-biodegradable plastic usage is being replaced by the biodegradable plastics made of cellulose acetate and hence the market is expanding.
The cigarette filters application dominates the global Cellulose acetate market in 2020 The demand for cellulose acetate in cigarette filters application is expected to increase mainly due to increasing youth population and rising disposable income in the regions.The product is extensively used in the production of cigarette filters as it reduces overall nicotine and tar intake and is biodegradable.
The rising consumer demand for low tar cigarettes across the globe is likely to augment the market growth during the forecast period.In addition to this, cigarette utilization is rising in developing nations, principally Asia Pacific and Latin America.
Expanding populace combined with changes in customer lifestyle and high disposable income of shoppers are probably going to support cigarette utilization in the following couple of years.
APAC to lead the Cellulose acetate during the forecast period APAC is projected to have the largest share in the cellulose acetate and will expand significantly by 2026.This dominance is attributed to the rising demand from domestic industries in the region.
The demand for cellulose acetate is growing, especially, in APAC and Latin America.The markets in these regions are expected to register high growth in comparison to other regions.
The growth of the Cellulose acetate market in the APAC region is also driven by high economic growth, increase in manufacturing industries, availability of cheap labour, growing end-use markets, and the global shift of production facilities from developed markets to developing markets. This study has been validated through primary interviews conducted with various industry experts globally. These primary sources have been divided into the following three categories: • By Company Type- Tier 1- 40%, Tier 2- 33%, and Tier 3- 27% • By Designation- C Level- 50%, Director Level- 30%, and Executives- 20% • By Region- North America- 15%, Europe- 50%, Asia Pacific (APAC) - 20%, Latin America-5%, Middle East & Africa (MEA)-10%,
The report provides a comprehensive analysis of company profiles listed below: • Eastman Chemical Company (US) • Daicel Corporation (Japan) • Celanese Corporation (US) • Mitsubishi Chemical Holdings Corporation (Japan) • Sappi Ltd (South Africa) • Rayonier Advanced Materials, Inc (US) • China National Tobacco Corporation (China) • Sichuan Push Acetati Co Ltd (China) • Cerdia International GmbH (Switzerland) • Rotuba Extruders, Inc (US)
Research Coverage This report covers the global Cellulose acetate and forecasts the market size until 2026.It includes the following market segmentation-By magnet type (Fiber, Plastics), end-use (Cigarette Filters, Textiles & Apparel, Photographic Films, Tapes & Labels, and Others), and Region (North America, Europe, APAC, MEA, Latin America) - Global Forecast to 2026.
Porter’s Five Forces Analysis, along with the drivers, restraints, opportunities, and challenges, have been discussed in the report. It also provides company profiles and competitive strategies adopted by the major players in the global Cellulose acetate.
Key benefits of buying the report:
The report is expected to help market leaders/new entrants in this market in the following ways: 1. This report segments the global Cellulose acetate comprehensively. It provides the closest approximations of the revenues for the overall market and the sub-segments across different verticals and regions. 2. The report helps stakeholders understand the pulse of the Cellulose acetate and provides them with information on key market drivers, restraints, challenges, and opportunities. 3. This report will help stakeholders to understand competitors better and gain more insights to better their position in their businesses. The competitive landscape section includes the competitor ecosystem, new product development, expansion, and acquisition.
Reasons to buy the report: The report will help leaders/new entrants in this market by providing them with the closest approximations of the revenues for the overall cellulose acetate and the sub-segments. This report will help stakeholders to understand the competitive landscape and gain more insights and position their businesses and market strategies in a better way.
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