The Cellulose Acetate Industry, from the recent research reports, is anticipated to grow from USD 5 billion in 2021 to USD 9 billion by 2028 with a compound annual growth rate (CAGR) of 4.7%. 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 industry 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 make it is a popular filter material of choice. Also, the growing cigarette manufacturing industry and the rising number of youth getting inclined towards 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.
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REGIONAL ANALYSIS
If we look at cellulose acetate market share and other details, this industry is remarkably working in five major regions of the world that is Asia Pacific, Europe, North America, Latin America, Middle East, and Africa. During the forecast period, the assai Pacific region will dominate this market. As there is rising demand for cellulose acetate from the textiles and apparels industry. Also, the changing lifestyle and rising disposable income of the population in the developing countries such as India and China of this region is another factor that will contribute to the growth of this market. Europe will be the second-largest market due to the growing textile and clothing industry.
Based on the data obtained from cellulose acetate industry analysis, the prominent players of this market are Borregaard (Norway), Sappi (South Africa), SK Chemicals (South Korea), China National Tobacco Corporation (China), Celanese Corporation (U.S.), Solvay (Belgium), Eastman Chemical Company (U.S.), Mitsubishi Chemicals Holdings Corporation (Japan), Daicel Corporation (Japan), Accordis Cellulosic Fibres, Inc. (U.S.), Sichuan Push Acetate Co., Ltd. (China), and Rayonier Advanced Materials (U.S.)
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TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Porter’s Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Bargaining Power Of Suppliers
4.1.4 Threat Of Substitutes
4.1.5 Segment Rivalry
4.2 Value Chain/Supply Chain Of Global Cellulose Acetate Market
5 Industry Overview Of Global Cellulose Acetate Market
5.1 Introduction
5.2 Growth Drivers
5.3 Impact Analysis
5.4 Market Challenges
Continue…
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INDUSTRY NEWS
In October 2020, an advanced cellulose-based material named Blue Ridge cellulosic pellets was launched by Celanese Corporation. This material aligns with ESG and circular economy objectives as it is biodegradable and widely compostable.
In February 2020, the expansion of the NAIA fiber portfolio was announced by Eastman. Also to offer another economically friendly and versatile material choice, a new cellulosic staple fiber was launched for feasible fashion.
In May 2016, a definitive agreement to end their cellulose acetate production joint venture prim ester was signed between Solvay and Eastman chemical company. As a result of this agreement, Solvay became the sole owner of Eastman’s cellulose acetate flake plant situated in the United States of America.
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