The increasing demand in various end-use industries is stimulating the demand in the worldwide market for cellulose acetate. In value terms, the global cellulose acetate market size was estimated at $ 3.52 billion in 2019 and supposed to reach $ 4.36 billion in 2025, at an annual rate of 5.12% between 2020 and 2025. Asia-Pacific represents a significant part of the global cellulose acetate market due to the increase in technological and infrastructural developments and the large cigarette manufacturing industry in the region.
Several manufacturer companies are implementing massive strategies and funding to improve effective cellulose acetate cigarette filters and other applications. It is a natural plastic that is developed from purified natural cellulose. However, in primary form, it cannot be treated as a thermoplastic. For this, it must be dissolved in a solvent while in a compound form, it can be treated by normal techniques for the treatment of plastics. Cellulose acetate is broadly employed in photography as a film base, offerings coatings and as a material for spectacle frames.
Market Recent Developments:
Concentric LLC, a United States based company, has come up with an innovative idea to shape the future. The company has designed a compostable cup which is grown using mushrooms and then a coat of cellulose acetate to finish the cups. The cup is made from a base organic material, mycelium organism and coat of cellulose acetate. This is proving to replace many of the current options of disposable glasses.
Market Drivers and Restraints:
The main growth drivers identified in the global cellulose acetate market are the increased demand for cellulose acetate, growth in emerging economies and technological advances in various applications. The increased demand for natural plastic due to its properties, which include good toughness, glossy shine, glossy texture and high transparency, should stimulate market growth in the coming years. Furthermore, the material is perfectly suitable for textile application because it is comfortable and absorbent and can also be easily dyed in many different colors. All these factors are at the origin of its demand, driving the general growth of the market. The increasing demand for cellulose acetate due to the increasing demand for environmentally friendly, biodegradable, cost-effective and versatile cellulose acetate is an important factor that is supposed to stimulate growth in the world market for cellulose acetate during the prognosis period.
Also, the growing demand for pulp from the textile and clothing industry is another factor that should drive growth in the target market in the coming years. In addition, technological advances and the rising preference for cellulose acetate in applications in emerging economies are among some factors that are expected to stimulate growth in the potential market during the outlook period. The increase in high cigarette consumption worldwide is the main driver of the global cellulose acetate market. Growing demand from the textile and clothing industry, along with growing demand for cellulose acetate, is supposed to fuel market growth in the coming years. The increase in disposable income and the change to a modern lifestyle for consumers in developing countries is determined to rise the call for cigarettes, textiles and plastics, simultaneously affecting the market in a positive way.
Increased awareness of the health problems associated with smoking should be a major obstacle to the growth of the cellulose acetate market. Moreover, the government regulations that ban smoking in public along with the presence of alternatives like electronic cigarettes in is predicted to impede the growth potential in the worldwide market.
Increased industrialization is supposed to create immense growth potential for industry players in the global cellulose acetate market. This is due to the fact that increased industrialization will increase market demand for the product for various applications, which will push manufacturers to produce products in large quantities, thereby creating opportunities. The increasing adoption of advanced cellulose acetate to reduce vulnerability to toxic products during smoking is a factor that should create a lucrative opportunity for the growth of the global cellulose acetate market during the projection period.
Strict government rules and regulations regarding the health risks associated with smoking are some of the factors that may restrict demand for cellulose acetate and slow growth in the global cellulose acetate market during the assessment period.
Cellulose Acetate Market Growth Based on Segmentation:
Of the mentioned types the fiber segment has accounted for the largest share in the global cellulose acetate market. The evolving research resulting in the innovative use of fiber is the main reason for the growth of this segment. Also, the ease of availability of fiber and wide acceptability in tobacco industries are some other reasons for the projected growth of the fibers segment.
Among the mentioned applications the Textiles & apparel is calculated to be the application with the fastest growth rate in the forecast period. Technological advancements and the rising demand in the textile industry is considered to be the reason for its rapid growth in the global cellulose acetate market. This segment is currently leading the cellulose acetate market and is anticipated to lead the market during the forecast period.
Cellulose Acetate Market Segmentation:
Cellulose Acetate Market Geographical Segmentation:
Market Geographical/Regional Presence:
The Asia Pacific region is the leading the global cellulose acetate market both in terms of value and volume. The situation of manufacturing centers of significant market leaders is the leading cause of Asia’s dominance over the cellulose acetate market. The regional advantages offered by this region such as cheap labor and ease of resource availability is the primary reason for the interest of the key market participants to invest in this region. This makes the companies have higher profits as the production costs are minimized. The high potential in the Asia Pacific region for future opportunities caused due to the fast industrialization and urbanization mainly in countries like India, Japan, and China is the primary reason for its booming market values in the global cellulose acetate market.
North America is next in the lead for the global cellulose acetate market followed by Europe. The well-established companies which hold the majority of the market share are centered in North America. In other words, they have their headquarters in North America and manufacturing centers in the Asia Pacific region. On the other hand, the Middle East & Africa and Latin America regions, being in the low developing countries due to the contribution of low GDP countries, have fewer chances for industry growth. Hence, the Metallized film Market in these regions is slow growing in nature.
Prominent Key Players:
By the end of 2018 Primester (US), Rotuba Extruders, Inc. (the US), Celanese Corporation (US), Albemarle Corporation (US), Rhodia GmbH & Solvay P & S GmbH (Germany), Mitsubishi Chemicals Corporation (Japan), Borregaard (Norway), China Tobacco (China), Tembec, Inc. (Canada), Sappi (South Africa), Daicel (Japan), Philip Morris International (US), Imperial Brands plc (UK), Eastman Chemical Company (US), SK Chemicals (South Korea), Buckeye Technologies, Inc. (US), and Rayonier Inc. (US) are the leading shareholders of the Global Cellulose Acetate Market. There is a constant competition between these companies regarding the pricing and quality of the product. They are currently focused on providing expansion strategies to improve their market value and position.
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1. Y-o-Y Growth Analysis, By Type
5.1. Market Attractiveness Analysis, By Type
5.1.6 Market Share Analysis, By Type
5.2.2 Cigarette Filters
5.2.3 Textiles & Apparel
5.2.4 Photographic Films
5.2.5 Tapes & Labels
5.2.7 Y-o-Y Growth Analysis, By Application
5.2.8 Market Attractiveness Analysis, By Application
5.2.9 Market Share Analysis, By Application
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Type
126.96.36.199 By Application
6.1.4 Market Attractiveness Analysis
188.8.131.52 By Geographical Area
184.108.40.206 By Type
220.127.116.11 By Application
6.1.5 Market Share Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Type
126.96.36.199 By Application
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.3 Rotuba Extruders, Inc.
8.4 Celanese Corporation
8.5 Albemarle Corporation
8.6 Rhodia GmbH & Solvay P & S GmbH
8.7 Mitsubishi Chemicals Corporation
8.9 China Tobacco
8.10 Tembec, Inc.
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures