Global cellulose acetate market to reach USD 7.01 billion in 2021, increasing at a CAGR of around 3.6% between 2016 and 2021.
Sarasota, FL -- (SBWIRE) -- 04/28/2017 -- Zion Market Research has published a new report titled "Cellulose Acetate Market (Cellulose Acetate Tow and Cellulose Acetate Filament) for Cigarette Filters, Textile & Apparel, Photographic Films, Tapes & Labels, Extrusion & Molding and Other Applications - Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021". According to the report, global cellulose acetate market was valued at around USD 4.82 billion in 2015 and is expected to reach USD 7.01 billion in 2021, growing at a CAGR of around 3.6% between 2016 and 2021. In terms of volume, the global cellulose acetate market stood at above 3,000 tons in 2015.
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Cellulose acetate is a non-flammable thermoplastic polymer produced by acetylation of cellulose with acetic acid by using sulfuric acid. Cellulose acetate is available in various forms such as granules of fiber, powder, and granules. It also obtained from wood pulp. Cellulose acetate is widely used in the photography industry as a film base and it also used in the manufacturing of eyeglasses as a frame material. Cigarette filters, textile & apparel, photographic films, tapes & labels, and extrusion & molding are the other application areas in which cellulose acetate is used.
Growing high consumption of cigarette worldwide has led to the increased cellulose acetate demand in the past few years. This trend is expected to continue within the forecast period. The increase in disposable income and changes in the lifestyle of consumers in developing countries such as China, Brazil and India are predicted to boost up the demand for cellulose acetate in cigarettes, textiles and plastics industry. Additionally, utilization of cellulose acetate in eyewear frames and food packaging applications is likely to drive the cellulose acetate market during the forecast period. However, rising health awareness regarding cigarette consumption in developed regions may curb the market growth within the forecast period.
On the basis of product type cellulose acetate market can be segmented as cellulose acetate tow and cellulose acetate filament. Cellulose acetate tow was the largest product segment and accounted for a significant share of the global cellulose acetate market in 2015. Cellulose acetate tow is a key component in the manufacturing of cigarette filters, water purification media and extruded plastics.
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Based on the applications segment, cellulose acetate market is categorized into cigarette filters, textile & apparel, photographic films, tapes & labels, extrusion & molding and other. Cigarette filter was the largest application segment in 2015 and it accounted for over 80% of the market share in the same year. It is estimated to increase market share over the next few years. Moreover, textile & apparel accounted for the second-largest share of the global cellulose acetate market in 2015. Cellulose acetate is also used in apparel linings and velvet fabrics and is also blended with other synthetic fibers such as rayon and polyester which is expected to growth cellulose acetate market.
Asia-Pacific was the largest regional cellulose acetate market and is expected to continue its dominance in the market over the forecast period. It accounted for over 50.0% of the share in 2015. Growth in textiles and cigarette industries is anticipated to boost the cellulose acetate market in this region. Europe and North America are mature markets for cellulose acetate and are estimated to witness sluggish growth rate over the forecast period. Latin America is expected to witness a significant rise in cellulose acetate market due to the large demand from textile industry.
Some of the key players operating in this market such as Celanese Corporation, Daicel Chemical Industries, Eastman Chemical Company, Mitsubishi Rayon Company Limited, Rhodia Acetow GmbH, SK Chemicals Co. Ltd, Borregaard, Rayonier, Sappi, Tembec, Chinese National Tobacco Corp, Imperial Tobacco Group, Rotuba Extruders, Philip Morris International, Acordis Acetate and Primester.
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The report segments the global cellulose acetate market into:
Global Cellulose Acetate Market: Product Segment Analysis
Cellulose acetate tow
Cellulose acetate filament
Global Cellulose Acetate Market: Application Segment Analysis
Textile & apparel
Tapes & labels
Extrusion & molding
Global Cellulose Acetate Market: Regional Segment Analysis
The Middle East and Africa