“The cellulose acetate market is projected to grow at a CAGR of 5.07% from 2017 to 2022”
The cellulose acetate market is projected to grow from USD 3.81 billion in 2017 to USD 4.87 billion by 2022, at a CAGR of 5.07% between 2017 and 2022. The growing demand for cellulose acetate in various applications, such as woodworking, cigarette filters, textiles & apparel, photographic films, and tapes & labels is expected to fuel the growth of the cellulose acetate market, while stringent regulations by regulatory bodies regarding wood pulp procurement are expected to restrain the manufacturing of cellulose acetate globally.
“Textiles & apparel is projected to be the fastest-growing application segment of the market during the forecast period”
Cellulose acetate gives fabrics a silk-like appearance; it can be blended easily with fibers from other materials. Its texture is soft and cool, and it is absorptive and breathable in nature. Cellulose acetate is frequently used for linings in suits or coats as well as for informal wear. Other examples of the use of cellulose acetate in fabrics are home furnishings, such as window treatments and upholstery. APAC is the largest manufacturing hub for textiles and fabrics, in terms of production and sales. Thailand, Vietnam, Indonesia, India, and China are the largest manufacturing and assembly hubs, thereby attracting cellulose acetate manufacturers to APAC for establishing R&D and manufacturing plants. There is a growing demand for cellulose acetate in APAC due to the presence of a large number of textile manufacturers in the region.
“Rising demand from Asia Pacific is a key factor expected to drive the growth of the cellulose acetate market”
The Asia Pacific region is the largest market for cellulose acetate and is expected to witness the highest growth during the forecast period. High economic growth, growth in manufacturing industries, availability of cheap labor, growing cigarette smoking population, and global shift of production facilities from developed markets to emerging markets are some of the key factors driving the cellulose acetate market in Asia Pacific.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted.
The break-up of the primary interviews is given below:
- By Company Type: Tier 1 – 27%, Tier 2 – 46%, and Others – 27%
- By Designation: C-level – 36%, Director-level – 28%, and Others – 36%
- By Region: Asia Pacific – 46%, Europe – 27%, North America – 18%, South America-1%, and Middle East & Africa – 8%
Key companies profiled in this market research report include Celanese (US), Mitsubishi Chemicals (Japan), China Tobacco Corporation (China), Daicel (Japan), and Eastman Chemical Company (US), among others.
The report covers the market for cellulose acetate and its applications across different industry verticals and regions. It aims at estimating the market size and potential of the cellulose acetate market across different types, applications, and regions. The report also includes an in-depth competitive analysis of key players in the market, along with their company profiles, recent developments, and key growth strategies.
Reasons To Buy the Report
The report will help market leaders/new entrants by providing them the closest approximations of revenues in the cellulose acetate market. This report will help stakeholders better understand the market’s competitive landscape and gain insights to position their businesses and formulate market strategies. The report will also help stakeholders understand the pulse of the market, and acquire information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on cellulose acetate offered by top market players
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the cellulose acetate market
- Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for cellulose acetate across varied regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the cellulose acetate market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and manufacturing capabilities of leading players in the cellulose acetate market