Cellulose Acetate Market Size, Share, Growth Report 2030

Cellulose Acetate Market

Cellulose Acetate Market (Cellulose Acetate Tow And Cellulose Acetate Filament) For Cigarette Filters, Textile & Apparel, Photographic Films, Tapes & Labels, Extrusion & Molding And Other Applications - Global Industry Perspective, Comprehensive Analysis And Forecast, 2021 – 2028

Category: Chemical & Materials Report Format : PDF Pages: 130 Report Code: ZMR-121 Published Date: May-2021 Status : Published

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.

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.

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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:

Report Attributes Report Details
Report Name Cellulose Acetate Market Size Report
Market Size in 2020 USD 6.15 Billion
Market Forecast in 2028 USD 10.25 Billion
Compound Annual Growth Rate CAGR of 7.9%
Number of Pages 130
Forecast Units Value (USD Billion), and Volume (Units)
Key Companies Covered 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
Segments Covered By Type,By end-user, And By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, Middle East and Africa (MEA)
Countries Covered North America: U.S and Canada
Europe: Germany, Italy, Russia, U.K, Spain, France, Rest of Europe
APAC: China, Australia, Japan, India, South Korea, South East Asia, Rest of Asia Pacific
Latin America: Brazil, Argentina, Chile
The Middle East And Africa: South Africa, GCC, Rest of MEA
Base Year 2021
Historical Year 2016 to 2020
Forecast Year 2022 - 2030
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

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.

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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.

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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

Table Of Content

Methodology

Free Analysis

FrequentlyAsked Questions

The global cellulose acetate market was valued at USD 6.15 Billion in 2020.

The global cellulose acetate market is expected to reach USD 10.25 Billion by 2028, expanding at a CAGR of 7.9% between 2021 to 2028.

Some of the key factors driving the global cellulose acetate market growth comprise The exponential demand for cellulose acetate from textile and cigarette manufacturing industry is the major driving factor for cellulose acetate market.

Asia Pacific held a substantial share of the cellulose acetate market in 2020. This is attributable to the presence of top companies. China is world’s largest manufacturer and the consumer of cellulose acetate owing it to the large population and the raw material available.

Some of the major companies operating in global 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.

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