Cellulose Acetate Market Size, Share & Industry Analysis, By Type (Fiber,Plastic), By Application (Cigarette Filter, Textiles & Apparels, Photographic Films, Tapes & Labels, Others) And Regional Forecast, 2024-2032
KEY INDUSTRY INSIGHTS
The global cellulose acetate market size is projected to experience dynamic growth in the forthcoming years. Cellulose Acetate is ester of cellulose prepared by reacting cellulose withacetic acid and acetic anhydride in presence of sulfuric acid. Cellulose acetate is a biodegradable replacement of plastic and is employed in manufacturing of cigarette filters, apparels, photographic films and other application.
Increasing demand from various end-user industries like textiles, packaging, and other for biodegradable replacement for plastic is expected to drive market growth. Increasing awareness in consumers regarding plastic pollution and its potential threats is leading them towards adoption of cellulose acetate which is a biodegradable alternative for plastic. Cigarette filter is one of the major application of cellulose acetate. Additionally, comparatively lower cost of this material compared to other fabrics like silk and cotton is likely to attract manufacturers which further is expected boost the market growth.
However, stringent regulation imposed by government regarding consumption of cigarettes is likely to hamper the demand for cigarette filters ultimately affecting the demand for cellulose acetate. Ban on public smoking in countries like China and Russia is likely to create negative impact on industry.
Key Market Driver -
Increasing adoption of cellulose acetate due to biodegradability.
Key Market Restraint -
Stringent rules imposed by government regarding smoking.
Market Segmentation:
Based on type, the global Cellulose Acetate market is segmented into fiber and plastic. Based on application, is segmented into cigarette filters, textiles & apparels, photographic films, tapes & labels, and other applications.
From a geographical standpoint, the cellulose acetate industry is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Key Players Covered:
- Celanese
- Daicel
- China Tobacco Corporation
- Eastman chemical company
- Mitsubishi chemicals
Key Insights
- New Advancements in Production Technologies
- Key Trends in the Cellulose Acetate Market
- New Product Launches, Expansions, Key Players
- Ranking of Key Players in the cellulose acetate market
Regional Cellulose Acetate Market Analysis:
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to be the largest and fastest growing market attributed to the high economic growth and rapid industrialization. Additionally, lower labor cost is one of the prime factor driving the growth in Asian region. North America is estimated to witness substantial growth attributed to the high demand and consumption of cigarettes. Europe is expected to experience significant growth due to the increasing demand from textile industry. Latin America and Middle East & Africa is likely to exhibit sluggish growth by the end of forecast period.
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Segmentation
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Cellulose Acetate Industry Developments
- In October 2020, Celenase launched cellulosic pellets under the brand name ‘BlueRidge’. It is a home compostable single use plastic alternative made of wood pulp and vinegar. It is mainly based on cellulose acetate.
- Ongoing
- 2023
- 2019-2022
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