The global cellulose acetate market size is expected to reach USD 7.80 billion by 2030 according to a new study by Polaris Market Research. The report “Cellulose Acetate Market Share, Size, Trends, Industry Analysis Report, By Type (Fiber, and Plastics), By Product (Cellulose acetate filament, Cellulose ester plastics, Cellulose acetate tow, Cellulose acetate flakes, and Other), By Application (Cigarette Filters, Textiles & Apparel, Photographic Films, Tapes & Labels, and Others), By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The increasing demand for natural plastics across diverse sectors presents various characteristics like glistened texture, high durability, cost-effectiveness, along transparency. Also, this fiber is additionally suitable in the textile industry as it is absorbent & comfortable, and convenient to tint with various colors. Thus, these factors are gaining huge prominence for the market growth in the subsequent industry. Moreover, technological developments, economic growth, and the growing trend of the longer cigarette filters also act as catalyzing factors for the market development in the forthcoming scenario.
Based on the application, the textile and apparel segment is dominating the global market and is anticipated to lead the market over the forecasting period. Factors such as the growing demand for apparel as well as continuous technological developments are anticipated to boost the market demand. The textile industry adopts cellulose acetate for the production of garments. In addition, this material is lustrous and smooth. Thereby this presents as an affordable option to silk with similar characteristics, which, in turn, spur the market growth.
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Increasing usage of this fiber as a biodegradable plastic across various industries is gaining huge popularity across the global market. The growing demand for biodegradable & recyclable, affordable, environmental-friendly, and resourceful cellulose acetate are the several factors that may propel the market demand. This fiber is adopted as a natural plastic, which is anticipated as a major catalyzing factor for the approaching years because of its characteristics such as high transparency, glistened shine, strong durability, and glossy texture. For instance, in November 2020, ‘Blueridge’ was introduced by the Celanese; it is the cellulose acetate product line, which is utilized for creating products such as straws that are largely biodegradable and backyard compostable.
Market participants such, Carbomer, Inc, Celanese Corporation, Biosynth Carbosynth Cerdia International, China National Tobacco, Chemos, Daicel Corporation, Dongguan He-Hong Plastic Co Ltd, Eastman Chemical Company, Mitsubishi Chemical, Rayonier Advanced Materials, Inc, Rotuba Extruders, Sae Manufacturing, Sappi Ltd., Sichuan Push Acetati are some of the key players operating in the global market.
Various market vendors are introducing their innovations for safeguarding the ecosystem, are gaining various product certification that helps the company to gain a significant position in the global market. For instance, in August 2021, Daicel Corporation- Osaka, Japan-based company has declared that its Cafblotm product received the OK biodegradable MARINE- an international certification for marine biodegradability.
Polaris Market Research has segmented the cellulose acetate market report on the basis of type, product, application, and region:
Cellulose Acetate, Type Outlook (Revenue - USD Billion, 2018 - 2030)
Cellulose Acetate, Product Outlook (Revenue - USD Billion, 2018 - 2030)
Cellulose Acetate, Application Outlook (Revenue - USD Billion, 2018 - 2030)
Cellulose Acetate, Regional Outlook (Revenue - USD Billion, 2018 - 2030)