Dublin, Oct. 14, 2021 (GLOBE NEWSWIRE) -- The "Cellulose Acetate Market by Type (Fiber, Plastic), Application (Cigarette Filters, Textiles & Apparel, Photographic Films, Tapes & Labels), and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global Cellulose acetate is expected to grow from USD 5.0 billion in 2021 to USD 6.3 billion by 2026, at a CAGR of 4.7% during the forecast period.
Increasing demand from the cigarette filters applications is majorly driving the growth of the market. The cellulose acetates are used in cigarette filters, textiles & apparel, photographic films, tapes & labels, medical sector, coatings, and various other applications. However, the negative impact of the COVID-19 pandemic on the end-use industries has affected the cellulose acetate market adversely.
The plastics is the fastest-growing segment by cellulose type in terms of value and volume.
The plastics-based cellulose market is expected to witness high growth because of the growth in the product requirements, the growth in developing economies, and the technological developments in different applications. The increasing demand for natural plastics is expected to drive the industry growth in the coming years owing to its characteristics, including strong durability, glistened shine, lustrous texture, and high transparency.
Furthermore, with the growing concern of the consumers regarding the pollution and environmental degradation various steps are being taken by the government across the globe to ensure safety and integrity of the environment. Due to this reason the traditional non-biodegradable plastic usage is being replaced by the biodegradable plastics made of cellulose acetate and hence the market is expanding.
The cigarette filters application dominates the global Cellulose acetate market in 2020
The demand for cellulose acetate in cigarette filters application is expected to increase mainly due to increasing youth population and rising disposable income in the regions. The product is extensively used in the production of cigarette filters as it reduces overall nicotine and tar intake and is biodegradable. The rising consumer demand for low tar cigarettes across the globe is likely to augment the market growth during the forecast period.
In addition to this, cigarette utilization is rising in developing nations, principally Asia Pacific and Latin America. Expanding populace combined with changes in customer lifestyle and high disposable income of shoppers are probably going to support cigarette utilization in the following couple of years.
APAC to lead the Cellulose acetate during the forecast period
APAC is projected to have the largest share in the cellulose acetate and will expand significantly by 2026. This dominance is attributed to the rising demand from domestic industries in the region. The demand for cellulose acetate is growing, especially, in APAC and Latin America. The markets in these regions are expected to register high growth in comparison to other regions.
The growth of the Cellulose acetate market in the APAC region is also driven by high economic growth, increase in manufacturing industries, availability of cheap labour, growing end-use markets, and the global shift of production facilities from developed markets to developing markets.
The report provides a comprehensive analysis of company profiles listed below:
- Eastman Chemical Company (US)
- Daicel Corporation (Japan)
- Celanese Corporation (US)
- Mitsubishi Chemical Holdings Corporation (Japan)
- Sappi Ltd (South Africa)
- Rayonier Advanced Materials, Inc (US)
- China National Tobacco Corporation (China)
- Sichuan Push Acetati Co Ltd (China)
- Cerdia International GmbH (Switzerland)
- Rotuba Extruders, Inc (US)
Premium Insights
- Attractive Opportunities in the Cellulose Acetate Market: High Demand from Cigarette Filters Application to Drive the Market
- Cellulose Acetate Market, by Type: Fiber Type Cellulose Acetate Dominated the Overall Market
- Cellulose Acetate Market, by Application: Cigarette Filters Application Segment Led the Demand for Cellulose Acetate
- Cellulose Acetate Market, by Key Countries: Market in India to Grow at the Highest CAGR During the Forecast Period
Market Dynamics
Drivers
- Rising Demand in Growing Textiles & Apparel Industry
- Technological Advancements in Applications
- Rising Applications as Biodegradable Plastic in Various Industries
- Increased Industrialization Offers Potential for Market Growth
Restraints
- Declining Demand in Applications Such as Cigarette Filters and Photographic Films
Opportunities
- Rising Demand in Emerging Markets
Challenges
- Volatility in Prices of Raw Materials
- Stringent Rules & Regulations
Value Chain Analysis
- Raw Material Selection
- Manufacturing
- Distribution & Applications
Patent Analysis
- Document Type
- Insights
- Figure 25 Patent Jurisdiction Analysis, 2020
- Top Applicants of Patents
- List of Patents by Daicel Corporation
- List of Patents by Celanese Acetate LLC.
- List of Patents by Fujiyan Lgcellulose Chemical Co Ltd
- List of Patents by Dow Global Technologies LLC
- Top Ten Patent Owners (US) During the Last 10 Years
Company Profiles
- Biosynth Carbosynth
- Carbomer, Inc
- Celanese Corporation
- Cerdia International Gmbh
- Chemos
- Chemvalve Industries Pvt Ltd
- China National Tobacco Corporation
- Daicel Corporation
- Dayang Chem (Hangzhou) Co. Ltd
- Dongguan He-Hong Plastic Co Ltd
- Eastman Chemical Company
- Haihang Industry Co.
- Junsei
- Mazzucchelli 1849 S.P.A
- Mil-Spec Industries Corp
- Mitsubishi Chemical Holdings
- Rayonier Advanced Materials Inc.
- Rotuba Extruders Inc.
- Sae Manufacturing
- Sappi Ltd.
- Sichuan Push Acetati Co. Ltd.
- Simagchem
- Taylor Scientific (Samco)
- Vasu Chemicals
For more information about this report visit https://www.researchandmarkets.com/r/urwzik
