Cellulose Acetate Market Estimated to Reach $6.3 Billion by 2026 Globally, at a CAGR of 4.7%, says MarketsandMarkets™

Chicago, April 24, 2023 (GLOBE NEWSWIRE) -- The global cellulose acetate market size is estimated to grow from USD 5.0 billion in 2021 to USD 6.3 billion by 2026 at a compound annual growth rate (CAGR) of 4.7% during the forecast period, as per the recent study by MarketsandMarkets™. The demand for cellulose acetate is increasing from the cigarette manufacturing, as cigarette consumption is increasing globally. The excellent filtration properties of cellulose acetate has prevailed as the filter material of choice. Additionally, it also possesses superior biodegradability, which is an advantage if the filters end up in the environment.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1193

Browse in-depth TOC on “Cellulose Acetate Market”

204 - Market Data Tables
46 - Figures
209 - Pages

List of Key Players in Cellulose Acetate Market:

1. Eastman chemical Company (US)
2. Solvay, Celanese Corporation (US)
3. Daicel Corporation (Japan)
4. China National Tobacco Corporation (China)
5. Mitsubishi Chemical Holdings (Japan)
6. Sichuan Push Acetati Co. Ltd. (China)
7. Rayonier Advanced Materials Inc. (US)
8. Acordis Cellulosic Fibers Co Ltd (Belgium)
9. Sappi Limited (South Africa)

Key Findings of the Study:

1. Fiber-based cellulose acetate type to have the largest market share in the cellulose acetate market during the forecast period.
2. 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.
3. APAC region to account for the largest market share in the cellulose acetate market during the forecast period.

Get Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=1193

Cellulose acetate are mainly used in end-use industries, such as cigarette manufacturing, textiles & apparel, medical, waste-water treatment, etc. The cigarette manufacturing industry is the largest consumer of cellulose acetate. This is because of the major application in cigarette filters. Rising consumption of cigarette in low to middle income countries such as China and India, introduction of longer cigarette filters, and preference for low tar cigarettes is propelling the demand for cellulose acetate. In addition to this, demand for lesser emission of nicotine in the smoke is also accelerating the demand for cellulose acetate in emerging economies. However, the outbreak of COVID-19 has created ripples in the aerospace industry, leading to reduced demand for cellulose acetate. Due to the lockdown scenario in Europe and North America, the demand for cellulose acetate from end-use industries have declined sharply in the first quarter of 2020.

Cellulose acetate are segmented on the basis of types into fiber and plastics. The fiber segment holds the larger share in the market. The growth can be attributed to its superior properties, over other types, including high impact and mechanical strength, high transparency, and good resistance to variety of chemicals. Along with that, the demand is supported by easy availability.

and wide acceptability of the product in various end use industries which is further augmenting the growth of the cellulose acetate market.

The cellulose acetate market is segmented on the basis of applications into cigarette filters, textiles & apparel, photographic films, tapes & labels, and others. The rising number of smokers, particularly in emerging markets such as China and India represents a key factor driving the market. The growing young population who are inclined towards smoking will also propel the market growth.

Get 10% Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=1193

APAC is the largest consumer of cellulose acetate, globally. The growth of the cellulose acetate market in the region is propelled by the rising industrialization, high economic growth, rise in manufacturing industries, expanding textile industry, cheap labor availability, and the shift in production base from developed countries to emerging countries. Moreover, the ever-increasing population, government initiatives towards industrialization and trade, and increasing spending power of consumers are some of the additional factors which are expected to contribute towards the regional growth in the coming years.

Browse Adjacent Markets: Green Bio Chemicals Market Research Reports & Consulting

Related Reports:

1. Cellulose Esters Market
2. Cellulose Ether & Derivatives Market 
3. Nanocellulose Market 
4. Microcrystalline Cellulose (MCC) Market