The Asia Pacific cellulose acetate market size reached US$ 2,294 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 3,273 Million by 2028, exhibiting a growth rate (CAGR) of 5.9% during 2023-2028.
Cellulose acetate refers to a product formed by the reaction of cellulose with acetic acid and acetic anhydride in the presence of sulfuric acid, which acts as a catalyst. In the Asia Pacific region, cellulose acetate is used for manufacturing a wide variety of products such as cigarette filters, photography films, sheets, combs, pen barrels, and different fashion accessories.
The Asia Pacific cellulose acetate market is primarily driven by the increasing population, which has escalated the demand for apparel and textiles. The fabrics made using cellulose acetate provide comfort and soft and good drape, have pleat ability and ease-of-care. Besides this, cellulose acetate is widely used in the manufacturing of home furnishing products and biodegradable plastics, which represents a significant factor impacting the market growth. Cellulose acetate is resistant to several chemicals like dilute aqueous solutions, inorganic salts, superior alcohols and solutions. Furthermore, the increasing focus of leading key players on enhancing customer reach by employing strategic partnerships, mergers and acquisitions is also contributing to the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the Asia Pacific cellulose acetate market report, along with forecasts at the regional and country levels from 2023-2028. Our report has categorized the market based on application.
Breakup by Application:
- Cigarette Filters
- Coating, Plastics and Films
Breakup by Country:
- South Korea
The competitive landscape of the industry has also been examined along with the profiles of the key players.
|Base Year of the Analysis
||China, Japan, India, South Korea, Australia, Indonesia, Others
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Key Questions Answered in This Report:
- How has the Asia Pacific cellulose acetate market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the Asia Pacific cellulose acetate market?
- What are the key regional markets?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the Asia Pacific cellulose acetate market and who are the key players?
- What is the degree of competition in the industry?