New York, United States , Feb. 01, 2024 (GLOBE NEWSWIRE) -- The Global Cellulose Acetate Market Size to Grow from USD 4.5 Billion in 2023 to USD 6.1 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 3.09% during the forecast period.
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As environmental concerns develop, sustainable materials are becoming more fashionable. Because it is made from renewable resources, cellulose acetate is thought to be more environmentally friendly than other polymers. Cellulose acetate is utilised in a multitude of industries, including textiles (clothing and fabrics), packaging, and even cigarette filter manufacturing. Its versatility helps to explain its growing appeal. Regulations encouraging ecologically friendly techniques and materials contribute to the growth of cellulose acetate. Environmentally friendly choices are increasingly favoured by government policy and consumer attitudes.
Cellulose Acetate Market Value Chain Analysis
The initial phase in the process is the extraction of natural cellulose, which is frequently derived from wood pulp or cotton fibres. Suppliers play an important role in ensuring a consistent and high-quality supply of raw materials. Acetylation is a chemical reaction that occurs when raw cellulose reacts with acetic anhydride to produce cellulose acetate. The manufactured cellulose acetate can be further processed into intermediate items appropriate for many sectors. These intermediary products could include cellulose acetate flakes, pellets, or fibres. Manufacturers and researchers are attempting to develop novel formulations, improve properties, and find new uses for cellulose acetate. The final cellulose acetate goods are distributed through a network of suppliers, distributors, and wholesalers. The supply chain guarantees that goods flow smoothly from manufacturers to end users.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Cellulose Acetate Market Size By Type (Plastic, Fiber), By Application (Photographic Films, Cigarette Filters, Tapes And Labels, Textiles And Apparel), By Region, And Segment Forecasts, By Geographic Scope And Forecast to 2033."
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Insights by Type
The fiber segment accounted for the largest market share over the forecast period 2023 to 2033. Cellulose acetate fibres are commonly utilised in the textile industry to manufacture fabrics and clothing. Because of its distinct characteristics, such as softness, drapability, and a silk-like appearance, cellulose acetate fabrics have grown in popularity. The dyeability of cellulose acetate fibres is exceptional, allowing for vibrant and long-lasting hues in textiles. The fibres also have a smooth surface, lending a luxurious feel to clothes. Cellulose acetate fibres can be used in both clothing and home furnishings. These fibres are used in a variety of textile and fashion industries, from dresses and blouses to curtains and bed linens. The inclusion of cellulose acetate fibres in the collections of well-known fashion labels and designers raises their visibility and acceptance.
Insights by Application
The textiles and apparel segment accounted for the largest market share over the forecast period 2023 to 2033. Cellulose acetate is an environmentally friendly alternative to traditional textiles and apparel materials, particularly petrochemical-based synthetic fibres. The fact that it is biodegradable appeals to environmentally conscious consumers. Cellulose acetate fibres are soft and drapable, making them excellent for constructing attractive and comfortable clothes. This property makes cellulose acetate more appealing for use in the production of high-quality clothing. The use of cellulose acetate in the collections of well-known fashion designers and firms raises its visibility and acceptance in the fashion industry. High-profile endorsements can help bring the item into the mainstream.
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Insights by Region
North America is anticipated to dominate the Cellulose Acetate Market from 2023 to 2033. North America commands a substantial share of the global cellulose acetate market. The region's market size is driven by demand from diverse industries like as textiles, packaging, and consumer goods. Customers in North America are becoming more aware of environmental issues and the implications of their shopping habits. This awareness increases demand for ecologically friendly items, which leads to greater use of cellulose acetate in a variety of consumer goods. The different industries in North America, including as fashion, pharmaceuticals, and packaging, all contribute to the demand for cellulose acetate.
Asia Pacific is witnessing the fastest market growth between 2023 to 2033. The Asia-Pacific region controls the majority of the global cellulose acetate market. Because of the region's large population and diverse industry, the market is substantial. Rapid industrialization in countries like China and India is increasing demand for materials such as cellulose acetate. It is used in several industries, including textiles, packaging, and consumer goods. The textile industry is a major consumer of cellulose acetate in Asia-Pacific. The chemical is used in the production of fibres and fabrics, and the region's strong textile industry plays a significant role in the market. Rising disposable income in some countries leads to greater consumer spending on items, particularly those made of cellulose acetate. This contributes to the growth of industries that employ the material.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. BASF SE, Kemira, Ecolab, Solenis, Mitsubishi Chemical Holdings Corporation, Akzo Nobel N.V., Sappi Europe SA, Baker Hughes Company, Solvay, Dow, SNF, SUEZ, Eastman Chemical Company, Celanese Corporation, Chembond Chemicals Limited, China Tobacco., Samco, Daicel Corporation, VASU Chemicals LLP, Merck KGaA, Rayonier Advanced Materials, Johnson Matthey, and Other Key Vendors.
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Recent Market Developments
- In November 2020, Sappi, the world's largest dissolving pulp company, has established a partnership with Birla Cellulose, a significant textile value chain maker.
Market Segmentation
This study forecasts revenue at global, regional, and country levels from 2023 to 2033.
Cellulose Acetate Market, Type Analysis
- Plastic
- Fiber
Cellulose Acetate Market, Application Analysis
- Photographic Films
- Cigarette Filters
- Tapes And Labels
- Textiles And Apparel
Cellulose Acetate Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
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