Report Scope & Overview:
Cellulose Acetate Market Size was valued at USD 5.2 billion in 2021, and is expected to reach USD 7.33 billion by 2028, and grow at a CAGR of 4.9% over the forecast period 2022-2028.
When cellulose reacts with acetic acid and acetic anhydride in the presence of a catalyst, the resultant compound is cellulose acetate. Biodegradable cellulose acetate is utilized in a number of sectors to replace plastic. Since it assists in eliminating tar and nicotine while preserving good test for the smoker, the substance is largely utilized in the creation of cigarette filters. The primary element driving the market is an increase in smokers, particularly in developing nations like China and India. Other significant factors are the growing need for cellulose acetate in textiles and apparel, the expanding usage of the material in home furnishings, and the growing demand for it as a biodegradable plastic in a variety of other industries. However, there are certain difficulties for the sector.
Growing Textile and Apparel Industry Demand
Application of Technological Advancements
Growing Uses of Biodegradable Plastic in a Range of Industries
An increase in industrialization presents opportunities for market expansion
Declining Demand for Products in Markets Like Photographic Films and Cigarette Filters
Rise in Emerging Market Demand
Price volatility for raw materials
strict laws and regulation
Impact of Covid-19:
Due to the COVID-19 pandemic, the market for cellulose acetate is anticipated to experience a drop in 2020. The entire world has suffered because of this terrible illness, but mainly the APAC and European regions. Companies shut down their operations and production facilities, and the government stopped construction activity to stop the virus from spreading further. This has caused a decrease in the use of cellulose acetate across all applications.
Demand for cellulose acetate has decreased as a result of COVID-19 and pre-existing regulatory concerns like drawn-out permitting procedures. However, it is anticipated that in 2021, cellulose acetate consumption would increase. China was the first nation to be impacted by COVID-19, which caused a disruption in the supply chain for cellulose acetate globally and curtailed industrial activity in a number of end-use industries. The demand for cellulose acetate has increased as a result of the textile and garment, cigarette, and other industries having resumed manufacturing activities and being expected to quickly recover from the effects.
Cerdia International GmbH, Sichuan Push Acetati Co Ltd, Rayonier Advanced Materials, Inc, Eastman Chemical Company, Celanese Corporation, Mitsubishi Chemical Holdings Corporation, China National Tobacco Corporation, Sappi Ltd, Rotuba Extruders, Inc, Daicel Corporation
Tapes & Labels
Textiles & Apparel
Asia Pacific, Europe, and North America are the three regions that make up the cellulose acetate market. The majority of shares are in the Asia Pacific, a crucial region. The necessity in the textile market is one of the demand-roving market elements. Additionally, this region produces more biodegradable plastics than other regions. This expands the market's potential for rapid expansion.
The second-largest market with the fastest growth is Europe. High demand will be generated in this market as the textile and apparel industries expand. The European cellulose acetate market has a higher turnover than markets in other continents.The next-largest market is found in North America. In this area, the presence of important players is quite important. A remarkable development is brought on by the rising demand for cellulose acetate in the textile and food packaging industries. The textile sector in Latin America is seeing growing demand. Latin America, specifically Peru, Brazil, Mexico, and Columbia, is a major contributor to the area.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|Market Size in 2021||US$ 5.2 Billion|
|Market Size by 2028||US$ 7.33 Billion|
|CAGR||CAGR of 4.9% From 2022 to 2028|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By Type (Plastics, Fiber)
• By Application (Cigarette Filters, Tapes & Labels, Textiles & Apparel, Photographic Films, Others)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Cerdia International GmbH, Sichuan Push Acetati Co Ltd, Rayonier Advanced Materials, Inc, Eastman Chemical Company, Celanese Corporation, Mitsubishi Chemical Holdings Corporation, China National Tobacco Corporation, Sappi Ltd, Rotuba Extruders, Inc, Daicel Corporation|
|DRIVERS||• Growing Textile and Apparel Industry Demand
• Application of Technological Advancements
• Growing Uses of Biodegradable Plastic in a Range of Industries
|Restraints||• Declining Demand for Products in Markets Like Photographic Films and Cigarette Filters|
Frequently Asked Questions (FAQ) :
Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.
Ans: Due to the COVID-19 pandemic, the market for cellulose acetate is anticipated to experience a drop in 2020. The entire world has suffered because of this terrible illness, but mainly the APAC and European regions. Companies shut down their operations and production facilities, and the government stopped construction activity to stop the virus from spreading further. This has caused a decrease in the use of cellulose acetate across all applications.
Ans: Rise in Emerging Market Demand are the opportunity for Cellulose Acetate Market.
Ans: Growing Textile and Apparel Industry Demand, Application of Technological Advancements and Growing Uses of Biodegradable Plastic in a Range of Industries are the drivers for Cellulose Acetate Market.
Ans: Cellulose Acetate Market Size was valued at USD 5.2 billion in 2021, and expected to reach USD 7.33 billion by 2028, and grow at a CAGR of 4.9 % over the forecast period 2022-2028.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID 19 Impact Analysis
4.2 Impact of Ukraine-Russia War
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8.Cellulose Acetate Market Segment, By Type
9.Cellulose Acetate Market Segment, By Application
9.1 Cigarette Filters
9.2 Tapes & Labels
9.3 Textiles & Apparel
9.4 Photographic Films
10. Regional Analysis
10.2 North America
10.3.6 The Netherlands
10.3.7 Rest of Europe
10.4.2 South Korea
10.4.6 Rest of Asia-Pacific
10.5 The Middle East & Africa
10.5.3 South Africa
10.6 Latin America
10.6.3 Rest of Latin America
11. Company Profile
11.1 Cerdia International GmbH
11.1.2 Products/ Services Offered
11.1.3 SWOT Analysis
11.1.4 The SNS view
11.2 Sichuan Push Acetati Co Ltd
11.3 Rayonier Advanced Materials, Inc
11.4 Eastman Chemical Company
11.5 Celanese Corporation
11.6 Mitsubishi Chemical Holdings Corporation
11.7 China National Tobacco Corporation
11.8 Sappi Ltd
11.9 Rotuba Extruders, Inc
11.10 Daicel Corporation
12.1 Competitive Benchmark
12.2 Market Share analysis
12.3 Recent Developments
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