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Cellulose Acetate Market Size, Share, Development, Growth and Demand Forecast to 2024

  • Publishing: May 2021
  • Report Code: CM11504
  • Available Format: PDF

Market Overview

Cellulose acetate is a natural plastic which is manufactured from purified natural cellulose. In the manufacturing of this natural plastic, natural cellulose is reacted with acetic anhydride, which comes out in flake form, which is then grounded to a fine powder. However, in primary form it cannot be processed as thermoplastic. For this, it needs to be dissolved in a solvent while in compound form, it can be processed by normal plastics processing techniques.

On the basis of type, the market is categorized into fiber and plastic. The fiber category type holds the larger share in the market. This 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.

On the basis of product, the global cellulose acetate market is categorized into cellulose acetate tow, cellulose acetate flakes, and cellulose acetate filament. Cellulose acetate tow holds largest share in the market. This tow is widely used to in manufacturing of cigarette filters that reduces overall tar and nicotine intake during cigarette consumption. Growing adoption of the tow in the cigarette is expected to boost the market as it is comparatively efficient than cotton, paper, and polypropylene.

Based on application, the cellulose acetate market is categorized into cigarette filters, textiles and apparel, extrusion and molding, water treatment, photographic films, and tapes and labels, and others. The textile industry makes use of this product in the manufacturing of garments. Also, as the material is smooth, rich, and satiny, it serves as a cheaper alternative to silk with similar qualities. Additionally, expansion of textile industry in the emerging nations including Brazil, India, and China is another factor contributing towards the market growth.

Market Dynamics

Drivers

The major growth drivers identified in the cellulose acetate market are the rise in demand for cellulose acetate, growth in emerging economies, and technological advancements in various applications. The rise in demand of the natural plastic due to its properties including good toughness, glossy shine, lustrous texture, and high transparency is expected to drive the market growth in the coming years. Also, the material is highly suitable for textile application, as it is comfortable, and absorbent and can also be easily be dyed in many different colors. All these factors are driving its demand, resulting in the overall market growth.

Restraints

Increasing awareness regarding the health issues related to smoking is expected to pose as a main restraint in the cellulose acetate market growth. Also, with the implementation of governmental regulations to ban public smoking in countries such as China and Russia as well as presence of alternatives such as electronic cigarettes in the market, is expected to hinder the growth potential of the market.

Opportunities

Rising industrialization is expected to provide huge growth opportunity to industry players operating in the cellulose acetate market. This is owing to the fact that rising industrialization will increase the demand of the product in the market for various applications, which will push the manufacturers to produce product in large quantity, and thereby creating opportunities.

Insights by geography

APAC cellulose acetate market held the largest share in the globally and is expected to register the fastest growth during the forecast period. This can be attributed to 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. Along with that, 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.

Competitive Landscape

Some of the major players operating in the global cellulose acetate market are Eastman Chemical Company, Celanese Corporation, Daicel Corporation, Acordis Cellulostic Fibers Inc, Sappi limited, Rayonier Advanced Materials, Borregaard, Rotuba, Rhodia Acetow GmbH, and Primester.

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