As the pandemic continues to challenge the market, Argus will discuss their forecast for 2022 on Tuesday, December 14th at 2 pm Eastern Time.
Dublin, October 15, 2021/PRNewswire/-"Cellulose acetate market by type (fibers, plastics), application (cigarette filters, textiles and clothing, photographic film, tape and labels), and region-to 2026 The "Global Forecast for the Year" report has been added to ResearchAndMarkets.com's products.
Global cellulose acetate is expected to grow from USD 5 billion in 2021 to USD 6.3 billion in 2026, with a compound annual growth rate of 4.7% during the forecast period.
The increase in demand for cigarette filter applications has mainly promoted the growth of the market. Cellulose acetate is used in cigarette filters, textiles and clothing, photographic films, tapes and labels, the medical sector, coatings, and various other applications. However, the negative impact of the COVID-19 pandemic on the end-use industry has adversely affected the cellulose acetate market.
In terms of value and quantity, plastic is the fastest growing part of cellulose type.
Due to the growth of product demand, the growth of developing economies and the technological development of different applications, the plastic-based cellulose market is expected to witness rapid growth. Due to the characteristics of strong durability, high gloss, glossy texture and high transparency of natural plastics, the demand for natural plastics is increasing, and it is expected to promote the growth of the industry in the next few years.
In addition, as consumers are increasingly concerned about pollution and environmental degradation, governments around the world are taking various measures to ensure the safety and integrity of the environment. For this reason, the use of traditional non-biodegradable plastics is being replaced by biodegradable plastics made of cellulose acetate, so the market is expanding.
Cigarette filter applications dominate the global cellulose acetate market in 2020
It is expected that the demand for cellulose acetate for cigarette filter applications will increase, mainly due to the increase in the youth population and the increase in disposable income in the region. This product is widely used in the production of cigarette filters because it reduces the total intake of nicotine and tar and is biodegradable. During the forecast period, global consumer demand for low-tar cigarettes continues to grow, which may promote market growth.
In addition, the use of cigarettes in developing countries, mainly in the Asia-Pacific region and Latin America, is increasing. Expansion of the population, changes in consumer lifestyles and high disposable income of shoppers may support cigarette use in the next few years.
The Asia-Pacific region will lead the cellulose acetate during the forecast period
The Asia-Pacific region is expected to account for the largest share of cellulose acetate, and it will significantly expand by 2026. This dominance is attributed to the growth of domestic industrial demand in the region. The demand for cellulose acetate is growing, especially in the Asia-Pacific region and Latin America. Compared with other regions, the market in these regions is expected to achieve rapid growth.
The growth of the cellulose acetate market in the Asia-Pacific region has also been driven by rapid economic growth, increased manufacturing, supply of cheap labor, growing end markets, and the global shift of production facilities from developed markets to developing markets.
The report provides a comprehensive analysis of the following company profiles:
Mitsubishi Chemical Holdings Co., Ltd. (Japan)
Rayonier Advanced Materials, Inc (USA)
China National Tobacco Corporation (China)
Sichuan Push Acetic Acid Co., Ltd. (China)
Attractive opportunities in the cellulose acetate market: high demand for cigarette filter applications promotes market development
Cellulose acetate market, classified by type: Fibrous cellulose acetate dominates the entire market
Cellulose acetate market, by application: Cigarette filter applications lead the demand for cellulose acetate
Cellulose acetate market in major countries/regions: During the forecast period, the Indian market will grow at the highest compound annual growth rate
Growing demand from the textile and apparel industry
As the application of biodegradable plastics in various industries is increasing
Increased industrialization provides potential for market growth
Decline in demand for applications such as cigarette filters and photographic film
Rising demand in emerging markets
Raw material price fluctuations
List of patents of Daicel
Celanese Acetate LLC's patent list.
Fujiken Cellulose Chemical Co., Ltd. Patent List
Dow Global Technologies LLC's patent list
Top ten patent owners in the past 10 years (United States)
Dayang Chemical (Hangzhou) Co., Ltd.
Dongguan Hehong Plastic Co., Ltd.
Sichuan Push Acetate Fiber Co., Ltd.
For more information about this report, please visit https://www.researchandmarkets.com/r/c7ys2p
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