The report “Cellulose Acetate Market by Type (Fiber, Plastic), Application (Cigarette Filters, Textiles & Apparel, Photographic Films, Tapes & Labels), and Region (North America, Europe, APAC, MEA, & South America) – Global Forecast to 2026” The cellulose acetate market size is projected to reach USD 6.3 billion by 2026, at a CAGR of 4.7%, during the forecast period. Owing to an increase in number of smokers, particularly in emerging nations such as China and India, the cellulose acetate market is expected to witness significant growth during the forecast period. In addition to this, the growing demand in textiles and apparels, increasing usage in home furnishing products and rising application as a biodegradable plastic in various other industries is also propelling the growth of the market. However, the outbreak of COVID-19 has created ripples in various end-use industries, leading to reduced demand for cellulose acetate. Due to the lockdown scenario in Europe and North America, the demand for cellulose acetate from cigarette manufacturing, and textiles & apparel have declined sharply in the first quarter of 2020.
To Remain ‘ahead’ of Your Competitors, Request for a Sample@ https://www.marketsandmarkets.com/requestsampleNew.asp?id=1193
Fiber-based cellulose acetate type to have the largest market share in the cellulose acetate market during the forecast period.
Cellulose acetate fibers are the major types of synthetic fibers. The fiber-forming substance is cellulose acetate, in which at least 92% of the hydroxyl groups are acetylated. This fiber is called triacetate or triacetate cellulose. Conventional secondary acetate fibers can be manufactured by treating wood pulp, cellulose, or cotton liners with acetic acid. The pretreated cellulose or secondary acetate is converted to triacetate when treated with acetic anhydride in the presence of an acid catalyst. The fiber type segment of the cellulose acetate market accounts for the largest share of the overall cellulose acetate market, owing to its easy availability as well as wide acceptability in end-use industries such as cigarette manufacturing and textiles & apparel.
The cigarette filter application segment is expected to account for the largest share in the cellulose acetate market during the forecast period, in terms of value.
Cigarette filter is the major application for the cellulose acetate market. Due to its excellent filtration properties, cellulose acetate has prevailed as the filter material of choice. In addition to this, it also possesses superior biodegradability, which is an advantage if the filters end up in the environment.
The growth of the cigarette industry, especially in emerging economies such as China and India owing to continuing increasing disposable income levels, and, consequently, an increasing young population which has a high inclination towards smoking is expected to drive the cellulose acetate market as it is one of the most profitable industries globally.
APAC region to account for the largest market share in the cellulose acetate market during the forecast period.
APAC was the largest cellulose acetate market, in terms of value, in 2020. The increasing use of cellulose acetate in applications such as cigarette filters, textiles & apparel, photographic films, and others is expected to provide new growth opportunities to the market. Furthermore, high economic growth, growth in manufacturing industries, availability of cheap labor, growing end-use markets, and the global shift of production facilities from developed markets to developing markets are some of the key factors driving the cellulose acetate market in Asia Pacific.
For any Queries Linked with the Report, Ask an Analyst@ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=1193
The key players in the market include Eastman chemical Company (US), Solvay, Celanese Corporation (US), Daicel Corporation (Japan), China National Tobacco Corporation (China), Mitsubishi Chemical Holdings (Japan), Sichuan Push Acetati Co. Ltd. (China), Rayonier Advanced Materials Inc. (US), Acordis Cellulosic Fibers Co Ltd (Belgium), Sappi Limited (South Africa). These companies are involved in adopting various inorganic and organic strategies to increase their foothold in the cellulose acetate market.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441