How Has The Cellulose Acetate Market Size Evolved In Recent Years?
The cellulose acetate market has seen considerable growth due to a variety of factors.
• There has been a substantial expansion in the cellulose acetate market in the past few years. The market value is projected to rise from $5.44 billion in 2024 to $5.82 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 7.0%.
The remarkable surge during the historic era can be credited to multiple factors such as the film and photography sector, cigarette filters, textile manufacturing, consumer goods production, the need for acetate tow, and enhanced biomedical uses.
How Will the Cellulose Acetate Market Size Evolve over the Forecast Period?
The cellulose acetate market is expected to maintain its strong growth trajectory in upcoming years.
• In the forthcoming years, the cellulose acetate market is anticipated to experience substantial growth, reaching an estimated $7.94 billion by 2029, with a compound annual growth rate (CAGR) of 8.1%.
This growth during the forecast period can be linked to the transition towards biodegradable materials, the expansion of the eyewear market, advancements in biomedicine, the booming textile industry, and the rise of sustainable fashion trends. Key trends projected during the forecast period include bio-based cellulose acetate, personalized acetate blends, cellulose acetate butyrate, innovations in film and coating applications, and market consolidation and acquisitions.
Which Drivers Are Accelerating Growth In The Cellulose Acetate Market?
The expected rise in cigarette usage is anticipated to fuel the cellulose acetate market's expansion. This is largely due to the increase in population and fast-paced economic growth which is predicted to augment the smoking rate in several lower and middle-income countries. Use of cellulose acetate predominantly occurs in the creation of cigarette filters which constitute a sizeable majority of global cigarette filters. It contributes to the removal of tar and nicotine while ensuring a pleasing taste for the consumer. For illustration, data provided by the Centers for Disease Control and Prevention, a prominent public health institution in the U.S., as of March 2022, indicates that close to 40 million U.S. adults are still engaged in smoking, and an approximate 2.55 million teenagers in middle and high school consumed at least one tobacco product, including e-cigarettes. On average, around 1,600 U.S. adolescents under the age of 18 initiate cigarette smoking each day. Consequently, the increasing cigarette utilization drives the cellulose acetate market's expansion.
What Key Areas Define The Segmentation Of The Global Cellulose Acetate Market?
The cellulose acetate market covered in this report is segmented –
1) By Type: Fiber, Plastics
2) By Product: Cellulose Acetate Filament, Cellulose Ester Plastics, Cellulose Acetate Tow, Cellulose Acetate, Flakes, Other Products
3) By Application: Cigarette Filters, Textiles And Apparel, Photographic Films, Tapes And Labels, Other Applications
Subsegments:
1) By Fiber: Acetate Tow, Acetate Staple Fiber
2) By Plastics: Cellulose Acetate Butyrate (CAB), Cellulose Acetate Propionate (CAP), Cellulose Acetate Sheets, Cellulose Acetate Film
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How Are Emerging Trends Reshaping The Dynamics Of The Cellulose Acetate Market?
Large firms in the cellulose acetate market are shifting their focus towards the formation of strategic alliances, hoping to boost their competitive position. This consortium is aimed at creating cutting-edge solutions to cater to the escalating demand for high-performance materials in 5G mmWave applications. For example, Celanese Corporation, a materials organization based in the United States, formed a coalition with Micromax Electronic Inks and Pastes, a brand under the Celanese Corporation umbrella, and Industrial Technological Research Institute (ITRI), a research organization out of Taiwan, in June 2023. This collaboration is intended to harness the expertise of Celanese in cellulose acetate and Micromax's proficient conductive inks and pastes to develop high-grade materials for 5G wireless gadgets.
Who Are the Key Players in the Cellulose Acetate Market?
Major companies operating in the cellulose acetate market include:
• Sichuan Push Acetati Co. Ltd.
• China National Tobacco Corporation
• Dayang Chem (Hangzhou) Co. Ltd.
• Mitsubishi Chemical Holdings Corporation
• Asahi Kasei Corporation
• Toray Industries Inc.
• Solvay S.A.
• Eastman Chemical Company
• Celanese Corporation
• Showa Denko K.K.
• Teijin Limited
• Sappi Limited
• Kaneka Corporation
• Daicel Corporation
• Kuraray Co. Ltd.
• Toyobo Co. Ltd.
• SK Chemicals Co. Ltd.
• Rayonier Advanced Materials Inc.
• Nippon Acetate Co. Ltd.
• Mazzucchelli 1849 S.p.A.
• Unitika Ltd.
• Cerdia International GmbH
• Borregaard ASA
• Acetex Corporation
• Tianjin NAT Technology Co. Ltd.
• Rotuba Extruders Inc.
• Haihang Industry Co. Ltd.
• Youngbo Textile Co. LTD.
• Acetati S.p.A.
• Acetylation Industries Inc.
What Is The Most Dominant Region In The Cellulose Acetate Market?
Asia-Pacific was the largest region in the cellulose acetate market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cellulose acetate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
