The global cellulose acetate market reached a value of US$ 4 Billion in 2019. Cellulose acetate is a chemical product produced by the reaction of cellulose with acetic acid and acetic anhydride in the presence of a catalyst (sulphuric acid). Cellulose acetate is biodegradable and is used as a replacement of plastics in various industries. The product is primarily used in the production of cigarette filter tow, as it helps in removing tar and nicotine while maintaining favorable taste to the smoker.
Rising number of smokers, particularly in emerging markets such as China and India represents a key factor driving the market. Some of the other major drivers include its rising demand in textiles and apparels, growing usage of cellulose acetate in home furnishing products and its rising application as a biodegradable plastic in various other industries. The industry, however, faces some challenges as well. This includes its declining demand in photographic films and in its major end-application i.e. cigarette filters as a result of the rising awareness on the negative health impacts of smoking. Looking forward, IMARC Group expects the global cellulose acetate market to exhibit moderate growth during the next five years.
Market Break by Application
Cigarette filters currently represent the largest application segment.
Market Break by Region
Region-wise, Asia Pacific currently represents the biggest market.
The report has also examined the competitive landscape of the Global Cellulose Acetate market. Some of the major players include: Eastman chemical Company, Solvay, Celanese Corporation, Daicel Corporation, China National Tobacco Corporation, Mitsubishi Chemical Holdings, Sichuan Push Acetati Co. Ltd., Rayonier Advanced Materials Inc., Sappi Limited, etc.
Key Questions Answered in This Report:
With the restrictions imposed by the governments due to the spread of coronavirus disease (COVID-19), there have been disruptions in the production and supply of chemicals. The market is also witnessing a decline in the cellulose acetate demand due to uncertainty in the global economy.
The global cellulose acetate market was worth US$ 4 Billion in 2019.
A significant rise in the number of smokers and extensive use of cellulose acetate in the production of cigarette filter tow represents the major factors bolstering the growth of the market. Besides this, the increasing applications of cellulose acetate in the home furnishing, textile and apparel industries is also contributing to the market growth.
Cellulose acetate is biodegradable and finds application as a replacement for plastics in various industries on account of its toughness, high transparency and lustrous texture, which acts as a major market trend.
Based on the application, the market has been classified into cigarette filters, LCD, yarn, and coatings, plastics and films. Amongst these, cellulose acetate is mostly used in cigarette filters.
Region-wise, Asia Pacific currently exhibits a clear dominance in the market. Other major regions include North America, Europe, Latin America, and Middle East and Africa.
The leading players operating in the industry are Eastman Chemical Company, Solvay S.A., Celanese Corporation, Daicel Corporation, China National Tobacco Corporation (CNTC), Mitsubishi Chemical Holdings Corporation, Sichuan Push Acetati Co. Ltd., Rayonier Advanced Materials, and Sappi Limited.
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