Cellulose Acetate Market by Type (Fiber, and Plastic) Application (Cigarette Filters, Textiles & Apparel, Photographic Films, Tapes & Labels), Region (North America, Europe, APAC, Middle East & Africa, South America) - Global Forecast to 2022
Northbrook, IL -- (SBWIRE) -- 05/09/2018 -- Technological advancements in manufacturing processes are expected to fuel the demand for cellulose acetate in mature markets such as North America and Europe. The increase in the number of cigarette smokers in developing countries and the shifting preferences of people toward sustainable fabric products are some of the drivers and opportunities for the growth of the cellulose acetate market. The cellulose acetate market has been growing in accordance with the growth of the cigarette manufacturing industry. Increasing urban population, recovery of the global economy, and growth in the packaging and fabric industries have driven the cellulose acetate market.
To know about the assumptions considered for the study, download PDF brochure at https://www.marketsandmarkets.com/pdfdownload.asp?id=1193
Based on application, cigarette filters is projected to lead the cellulose acetate market during the forecast period.
A major application of cellulose acetate is for the filtration of cigarette smoke. Cellulose acetate has prevailed as the filter material of choice as it combines excellent filtration properties with greater acceptance of its signature taste. It also has a superior biodegradability profile, which is an advantage in the event the filters end up in the environment. The growth of the cigarette manufacturing industry is, therefore, expected to drive the cellulose acetate market. The outlook for the global cigarette manufacturing industry remains positive due to the increase in the number of cigarette smokers as well as the purchasing power of consumers. In addition to this, the increase in the export of cigarettes from the APAC countries such as China, Malaysia, Vietnam, Indonesia, and Thailand has propelled the demand for cellulose acetate in these countries. Other applications of cellulose acetate include textiles & apparel, photographic films, and tapes & labels, among others.
Based on type, fiber is projected to dominate the cellulose acetate market during the forecast period.
Fiber is expected to be the fastest-growing type segment of the cellulose acetate market and accounts for the largest share of the overall cellulose acetate market, by type due to its easy availability and wide acceptability in end-use industries such as cigarette manufacturing and textiles & apparel. The increasing demand for biodegradable plastics has given rise to the use of cellulose acetate plastic in mature markets such as North America and Europe.
Asia Pacific is expected to lead the cellulose acetate market during the forecast period.
Asia Pacific is expected to be the largest cellulose acetate market during the forecast period. Increasing cigarette smoking population, along with the high demand from the textiles & apparel and tapes & labels applications, is expected to fuel the growth of the Asia Pacific cellulose acetate market. Countries such as China, Japan, and India are expected to be the major markets for cellulose acetate in Asia Pacific, with China estimated to be the largest market in terms of consumption
For more information, https://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=1193
Key players in the market are Celanese (US), Mitsubishi Chemicals (Japan), China Tobacco Corporation (China), Daicel (Japan), and Eastman Chemical Company (US), among others. These companies use strategies such as acquisitions, expansions & investments, and new product launches to strengthen their position in the market.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441