Cellulose Acetate Market Key Players, Trends, Growth
Opportunities and Industry Forecast till 2023
“The factors that are playing a major role in the growth of
market are increasing technological enhancement and
infrastructural developments and growing investment by
manufacturers for developing effective cigarette filters of
cellulose acetate.”
Global Cellulose Acetate Market is expected to grow at a CAGR of 5.78% in the upcoming period as the scope
and its applications are rising enormously across the globe. Cellulose acetate is a synthetic compound obtained
from the acetylation of the plant substance cellulose. It is spun into textile fibers termed as triacetate, acetate
rayon, or acetate. It may be molded into solid plastic parts like food wrapping, handles, or cast into a film for
photography.
The factors that are playing a major role in the growth of market are increasing technological enhancement and
infrastructural developments and growing investment by manufacturers for developing effective cigarette
filters of cellulose acetate. However, governments’ strict policy regarding wood pulp procurement may restrain
overall market growth in the years to come. Cellulose acetate market is segmented based on type, application,
and region.
Plastic and fiber are the types that could be explored in cellulose acetate in the forecast period. The fiber type
sector accounted for the substantial market share of cellulose acetate and is estimated to lead the overall
market in the years to come. The reason could be the high demand from end-users like textiles & apparels and
cigarette manufacturing and its easy availability.
The market could be categorized based on application like tapes & labels, cigarette filters, photographic films,
textiles & apparel, and others could be explored in the forecast period. Textile and apparel sector is estimated
to grow at the fastest pace in the years to come. The reason could be a rising demand for specialty cellulose
acetate and technological enhancement in the textile industry.