Cellulose Acetate Market Size, Share, Growth Report 2030

Cellulose Acetate Market Overview

The global cellulose acetate market accounted for USD 6.15 Billion in 2020 and is expected to reach USD 10.25 Billion by 2028, expanding at a CAGR of 7.9% from 2021 to 2028.

The global Cellulose Acetate market is a compound that is used for a broader range of applications. For instance, it is widely used in photography as a film glass. Scientifically, it is an insoluble and nontoxic biodegradable material. Partially, cellulose acetate contains acetyl content. It is mostly employed as a semipermeable coating on medicinal drugs and tablets.

Request Free Sample

COVID-19 Impact Analysis:

The outbreak of COVID-19 has made it difficult for the cellulose acetate market to pull through. With partial/total lockdown being inflicted all over the world, the production of cellulose acetate has been hampered big time. Also, demand from the end-users like textile & apparel and cigarette manufacturing industries has come down. Staying at home, consumers are less on the shopping spree and have cut down on smoking due to the risk of catching Corona. This scenario is expected to continue till at least mid-2022 when the majority will supposedly get vaccinated against COVID-19.

Growth Factors:

The exponential demand for cellulose acetate from the textile and cigarette manufacturing industry is the major driving factor for the cellulose acetate market. Several research institutions are tying up with several key players for developing effective cigarette filters from cellulose acetate. Also, biodegradable plastic is being asked for, which in turn is driving the usage of cellulose acetate plastic in matured markets like Europe and North America. However, the Asia-Pacific is expected to be the flag bearer on this count in the next decade with the increasing applications of cellulose acetate in tapes & labels.

Report Scope:

Product Segment Analysis Preview:

Cellulose acetate tow and cellulose acetate filament are the key product segments of the cellulose acetate market. Cellulose tow held a significant market share in 2019 owing to heightened demand and consumption. Cellulose acetate tow is a key component in the manufacturing of cigarette filters, water purification media, and extruded plastics. Cellulose acetate filament is expected to grow in the coming years owing to high demand.

Application Segment Analysis Preview:

On the basis of applications segment, the cellulose acetate market is segmented into cigarette filters, textile & apparel, photographic films, tapes & labels, extrusion & molding, and others. Cigarette filters stood out as the leading application segment and accounted for over 80% of the market share in the past few years. Besides, it is anticipated to account for a higher share in the near future due to its functionality. Textile & Apparel accounted for a second leading position in the global market as the popularity is likely to increase in the production of velvet fabrics.

Request Free Sample

To know more about this report, request a sample copy.

Regional Segment Analysis Preview:

The Asia Pacific is likely to account for a significant market share owing to its high dominance in the past few years. The presence of key players and significant growth in the textiles and cigarette industries is anticipated to propel the market growth in the coming years. Europe is the second leading market for cellulose acetate in the forecast period. The demand is likely to grow due to the constant pace of production and the presence of distribution channels.

Request Free Sample

To know more about this report, Request For Customization.

Key Market Players and Competitive Landscape:

Some of the key players in the cellulose acetate market are Celanese Corporation, Daicel Chemical Industries, Eastman Chemical Company, Mitsubishi Rayon Company Limited, Rhodia Acetow GmbH, SK Chemicals Co. Ltd, Borregaard, Rayonier, Sappi, Tembec, Chinese National Tobacco Corp, Imperial Tobacco Group, Rotuba Extruders, Philip Morris International, Acordis Acetate and Primester.

The Global Cellulose Acetate Market is segmented into,

By Product

• Cellulose Acetate Tow
• Cellulose Acetate Filament

By Application

• Cigarette Filters
• Textile & Apparel
• Photographic Films
• Tapes & Labels
• Extrusion & Molding
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa