Cellulose Acetate Market Research Report 2019-2023 Top Brands Review, Regional Growth Overview
Detailed Market Segments:
The global cellulose acetate market is segmented on the basis of the type, application, and region.
On the basis of the type, the global cellulose acetate market is segmented into fiber and plastic.
Based on the application, the market is segmented into textiles & apparels, cigarette filters, photographic films, tapes & labels, spectacle frames, and others.
Some of the manufacturers operating in the global cellulose acetate market are
Eastman Chemical Company (U.S.),
Mitsubishi Chemicals Holdings Corporation (Japan),
Celanese Corporation (U.S.),
Daicel Corporation (Japan),
China National Tobacco Corporation (China),
Accordis Cellulosic Fibers, Inc. (U.S.),
SK Chemicals (South Korea),
Sichuan Push Acetati Co., Ltd. (China),
Sappi (South Africa),
Rayonier Advanced Materials (U.S.),
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Market Information of Cellulose Acetate Market:
Cellulose acetate is available in two types namely fiber and plastics. The fiber segment dominated the market in 2016 owing to its easy availability. The fiber type cellulose acetate held major of the global market share in 2016 due to its extensive use in the manufacturing of cigarette tows and textiles. Acetate fibers are fast-drying, wrinkle resistant, and soft used for dresses, draperies, carpets, umbrellas, and others. It is used in the manufacturing of cigarette tows due to its high heat stability, high absorptivity, and biodegradability. The biodegradable nature of cellulose acetate is likely to offer substantial opportunities to the plastic type cellulose acetate in the mature markets such as the U.S.
The application segment includes textiles & apparels, cigarette filters, photographic films, tapes & labels, spectacle frames, and others. Growing demand from the textiles & apparels industry is majorly driving the global cellulose acetate market growth. This growth is attributed to various properties that the product offer such as soft nature, heat-resistance, and comfort. The increasing use of cellulose acetate as a replacement of silk owing to its low cost is expected to fuel the growth of the textile industry. The product demand from ophthalmology industry for manufacturing frame-wears is expected to fuel the market growth during the review period. However, the demand for cellulose acetate in photographic films is likely to decline on account of the substitution by other low-cost effective products such as polyesters.
Regional In-Deplt Analysis
The global cellulose acetate market is segmented into five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Asia Pacific was dominating the global cellulose acetate market in 2016 owing to the high demand from textiles & apparels industry. Changing lifestyle coupled with the high disposable income in countries such as India and China is likely to propel the product demand during the review period, 2018-2023. According to the International Trade Association, China is the fifth largest market for the U.S. medical textiles and protective apparels.
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Europe was the second largest market across globe in the year 2016 on account of the growing textiles & clothing sector generating a turnover of around Euro 166 billion.
North America is expected to witness a considerable growth on account of high demand for cellulose acetate in the food packaging and textiles industry.
Latin America is projected to witness a considerable growth due to growing textile industry in Peru, Brazil, Mexico, and Columbia.
The Middle East & Africa is likely to grow moderately due to the expanding yet untapped market region.
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