Cellulose Acetate Market to Reach USD 6.33 Billion by 2026 | Reports And Data

NEW YORK, Nov. 4, 2019 /PRNewswire/ -- The global cellulose acetate market is forecast to reach USD 6.33 Billion by 2026, according to a new report by Reports and Data. Cellulose acetate is a semi-synthetic compound which is manufactured from purified natural cellulose. In the manufacturing of this semi-synthetic compound, natural cellulose is reacted with acetic anhydride. The primary sources of these natural cellulose are cotton linens and wood pulp. Some of the prominent trends that are happening in the market include rising industrialization which provides vast opportunities for the market growth and the expanding textile and apparel industries in the Asia Pacific region and technological developments for cellulose acetate.

The market for cellulose acetate is influenced by the rising number of cigarette consumers all over the world. Preference for low tar cigarettes with a consumer shift towards longer cigarette filters contributes to the market growth.

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The above-mentioned factors create opportunities for market growth while factors such as volatility of raw material prices, and stringent regulations pose limitations in the market. However, each factor would have a definite impact on the market during the forecast period. Consistent advancements in the cellulose acetate market owing to innovative efforts have enhanced the efficiency of cellulose acetate.

The demography of Asia Pacific has been shifting towards the young population, and the purchasing potential of this young population is also increasing. Most of the developing countries are looking at India and China as the global market. These countries consist of over 40% population across the globe, and application of cellulose acetate in the apparels and cigarette filters will grow at a very high rate.

Further key findings from the report suggest

• The fiber type segment of cellulose acetate held a larger market share of 67.6% in the year 2018. The growth is due to its easy availability and high demand from the textile & apparel industries and cigarette manufacturers.
• Cellulose Acetate Tow segment held a larger market share of 41.9% in the year 2018. Cellulose acetate tow are largely used in cigarette filters, which reduces the overall tar and nicotine intake while cigarette consumption. As this is comparatively efficient than paper, cotton, and polypropylene, they have a high demand from the cigarette manufacturers.
• Textile & Apparel segment is forecasted to grow with the highest CAGR of 5.9% during the forecast period. The product is used in the textile & apparel industries in the manufacturing of garments. As the material is cheaper in comparison to silk and possesses similar qualities and hence have high demand from the textile and apparel sector.
• The Asia Pacific region is forecasted to grow with the highest CAGR of 6.1% during the forecast period. Rising industrialization with cheap labor availability and expanding textile industry in the region is expected to contribute towards the cellulose acetate market growth in the forecast period.
• Key participants Eastman Chemical Company, Solvay, Celanese Corporation, China National, Tobacco Corporation, Daicel Corporation, Acordis Cellulostic Fibers, Mitsubishi Chemical, Holdings Corporation, Sichuan Push Acetati Co., Ltd., Rayonier Advanced Materials, and Sappi among others.

To identify the key trends in the industry, click on the link below:   https://www.reportsanddata.com/report-detail/cellulose-acetate-market

Segments covered in the report:

For the purpose of this report, Reports and Data have segmented into the global Cellulose Acetate market on the basis of type, product type, application, and region:                     

Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)

• Fiber
• Plastic

Product Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)

• Cellulose Acetate Tow
• Cellulose Acetate Flakes
• Cellulose Acetate Filament
• Others

Applications Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)

• Cigarette Filters
• Textile & Apparel
• Photographic Films
• Tapes & Labels
• Others

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By Regions (Revenue in USD Million; Volume in Kilo Tons, 2016–2026)

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• UK
• Spain
• Italy
• Rest of the Europe
• Asia Pacific
• China
• India
• Japan
• Rest of Asia-Pacific
• Middle East & Africa
• Latin America
• Brazil

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About Reports and Data 

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client's make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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