[Latest insights] Cellulose Acetate Market is estimated to be US$ 7.39 billion by 2030 with a CAGR of 4.5% during the forecast period-BY PMI
Prophecy Market Insights latest research report on the In Cellulose Acetate Market provides a comprehensive analysis of the current market scenario, growth opportunities, challenges, and emerging trends. The report offers insights into the market’s size and share, key market players, distribution channels, and consumer preferences. It also examines the impact of the COVID-19 pandemic on the market and provides a detailed analysis of the competitive landscape, including strategic alliances, mergers, and acquisitions.
Covina, Sept. 14, 2023 (GLOBE NEWSWIRE) — How big is the Cellulose Acetate Market?
Cellulose Acetate Market accounted for US$ 4.8 billion in 2020 and is estimated to be US$ 7.39 billion by 2030 and is anticipated to register a CAGR of 4.5%.
Cellulose acetate is a synthetic compound derived from cellulose, a natural polymer found in plant cell walls. It is widely used in various industries for its unique properties and versatility. Cellulose acetate is a semi-synthetic polymer made by chemically modifying natural cellulose, typically sourced from wood pulp or cotton.
The biodegradability of cellulose acetate was a significant advantage, particularly in single-use plastic applications. As regulations and consumer preferences continued to push for eco-friendly materials, Cellulose Acetate Market was expected to see increased adoption.
Key Highlights –
- In November 2022, Celanese Corporation, a leading cellulose acetate supplier, we strive to deliver products, technological know-how and services that support our customers in advancing their goals. We have been producing cellulose acetate tow for filtering uses, especially for tobacco products, for about 70 years. Products containing cellulose acetate are created using high purity wood pulp from sustainably managed forests. Only qualified partners, such as the FSC (Forest Stewardship Council) or PEFC (Program for the Endorsement of Forest Certification) certificates, are given business to suppliers.
Analyst View –
Cellulose acetate fibers, known for their softness and silk-like appearance, were anticipated to find growing use in the textile and apparel industry. As consumers sought more sustainable and comfortable clothing options, cellulose acetate could see increased demand. The use of cellulose acetate in filtration applications, such as cigarette filters and water purification membranes, was expected to continue growing.
|Cellulose Acetate Market Value (2020)||US$ 4.8Bn|
|Cellulose Acetate Market Projected Value (2030)||US$ 7.39Bn|
|Cellulose Acetate Market CAGR (2020 – 2030)||4.5%|
- North America – U.S., Canada
- Europe – UK, Germany, Spain, France, Italy, Russia, Rest of Europe
- Asia Pacific – Japan, India, China, South Korea, Australia, Rest of Asia-Pacific
- Latin America – Brazil, Mexico, Argentina, Rest of Latin America
- Middle East & Africa – South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
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Competitive Landscape & their strategies of Cellulose Acetate Market:
The prominent players operating in the Cellulose Acetate Market include,
- Solvay (Belgium)
- Celanese Corporation (U.S.)
- Daicel Corporation (Japan)
- Accords Cellulosic Fibers Inc. (U.S.)
- China National Tobacco Corporation (China)
- SK Chemicals (South Korea)
- Sappi (South Africa)
- Rayonier Advanced Materials (U.S.)
- Sichuan Push Acetate Co. Ltd. (China)
- Eastman Chemical Company (U.S.).
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Market Trends and Outlook:
- Sustainable and Eco-Friendly Materials:
The increasing focus on sustainability and environmental concerns has led to a growing demand for cellulose acetate due to its biodegradability and renewable sourcing. Manufacturers and consumers alike are seeking more eco-friendly alternatives to conventional plastics.
- Textiles and Apparel:
Cellulose acetate is used in the production of textiles, particularly for luxurious fabrics like acetate satin and acetate velvet. The demand for high-quality, eco-friendly textiles was expected to drive growth in this segment.
- Film and Photography:
Cellulose acetate film was used in the past for photography and cinematography. While digital technology has largely replaced traditional film, there may still be niche applications and collectors markets for cellulose acetate film.
- Cigarette Filters:
One of the significant applications of cellulose acetate is in cigarette filters. As smoking rates have been declining in many parts of the world, this segment’s growth may be impacted.
Questions by Cellulose Acetate Market:
- What are the key market trends and market dynamics?
- Who are the major players in the market and what is their market share?
- What are the major drivers and restraints affecting the market?
- What are the growth opportunities in the market?
- What are the regional and local market conditions and consumer behavior?
- What is the market size and growth forecast for different regions and countries?
- What is the impact of government regulations and policies on the market?
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