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The global cellulose acetate market was valued at US$ 4.02 Billion in 2020.
The extensive usage of cellulose acetate in the production of cigarette filter tow as it helps in removing tar and nicotine while maintaining favorable taste, is currently driving the global cellulose acetate market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of end-use industries for cellulose acetate.
Based on the application, the global cellulose acetate market can be divided into cigarette filters, LCD, yarn, and coating, plastics and films. Among these, cigarette filters currently represent the largest segment.
On a regional level, the market has been classified into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America, where Asia Pacific currently dominates the global market.
Some of the major players in the global cellulose acetate market include Eastman Chemical Company, Solvay Group, Celanese Corporation, Daicel Corporation, China National Tobacco Corporation, Mitsubishi Chemical Holdings Corporation, Sichuan Push Acetati Co., Ltd., Rayonier Advanced Materials, Sappi Limited, etc.
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