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Cellulose acetate is a synthetic compound originated from the acetylation of the plant substance cellulose. Cellulose acetate is further turned into textile fibres which is known as acetate rayon, acetate, or triacetate. This acetate can also be moulded into solid plastic parts such as tool handles or cast into film for photography or food wrapping.
Development in the worldwide cigarette manufacturing industry is foreseen to be principally support the worldwide cellulose acetate market amid the following couple of years. Cellulose acetate is reasonably utilized in cigarette channels application as it gives more noteworthy productivity when contrasted with different materials, for example, polypropylene, paper, and cotton. Besides, based on financial components, cigarette utilization is rising in developing nations, principally Asia Pacific and Latin America. Expanding populace combined with changes in customer lifestyle and high disposable income of shoppers are probably going to support cigarette utilization in the following couple of years. This expanded utilization is anticipated to help interest for cellulose acetic acid derivation before the finish of 2024.
The cellulose acetate market globally is segmented into product type, application and geography.
Globally, cellulose acetate is dispersed into various categories. The cellulose acetate market is majorly segmented into cellulose acetate tow and cellulose acetate filament. Cellulose acetate tow was observed to be the major product segment of the global cellulose acetate market in few previous years. It was said to be having the largest market share in 2017 and is expected to be the fastest-growing segment by the end of 2024. Rising number of cigarette consumers and their preference for low tar cigarettes are driving the cellulose acetate industry. Also, recent shift of the consumer towards longer cigarette filters is anticipated to contribute to the growth of the market. Increasing population along with changes in consumer lifestyle and high per capita income are likely to lift cigarette consumption in the next few years. This increased consumption is projected to boost demand for cellulose acetate by the end of 2024. Also, the increasing demand for biodegradable plastic has given rise to the use of cellulose acetate.
This market has wide applications in cigarette filters, textiles & apparels, extrusion & moulding etc. Textile & apparel is expected to utilize majority of cellulose acetate by 2024 owing to the advancements in technology in the textile industry and mounting demand for cellulose acetate for textiles and apparels. Porous and hydrophilic attributes of cellulose acetate filament make it the preferred material to be used in textile & apparel application. Also, cigarette filters are expected to record for important share of the global cellulose market. This application segment is likely to remain the major consumer of cellulose acetate by 2024. During the processing of cigarette filters, cellulose acetate tow is used as a major component due to its useful properties such as high absorptivity, biodegradability, heat stability etc.
Geographically, the global cellulose acetate market can be segmented into North America, Europe, Asia-Pacific and rest of the world. Asia-Pacific is expected to achieve the largest market share of the cellulose acetate market followed by Europe and North America by 2024. The collective use of cellulose acetate in cigarette filters, textiles & apparel and tapes & labels applications is expected to provide new growth opportunities to the market. In fact, high economic growth, increase in manufacturing industries, availability of cheap labour, growing end-use markets, and the global shift of production facilities from developed markets to developing markets are some of the key factors driving the cellulose acetate market in Asia Pacific. Also, the increasing demand for biodegradable plastic has given rise to the use of cellulose acetate plastic in mature markets such as North America and Europe.
The key competitors of this market covered in this report are Celanese Corporation, Daicel Corporation, Eastman Chemical Co., Mazzucchelli 1849 S.p.A., Mitsubishi Rayon Co., Ltd., Solvay Acetow GmbH, Rotuba Extruders Inc., Sichuan Push Acetati Co. Ltd., China National Tobacco Corporation, Acordis Cellulostic Fibers, Rayonier Advanced Materials, Sappi etc
The cellulose acetate market is segmented globally into product type, application and geography. By product, the market is classified into cellulose acetate tow and cellulose acetate filament. Cellulose acetic tow held bigger share of the global market in 2016 and is relied upon to be the quickest developing section before the finish of 2024. Technique for assembling cellulose acetic filament is like that of tow; the main distinction is that cellulose acetate isn't subjected to pleating. The filament package after turning is packaged to frame filament yarns. Textiles & apparel is anticipated to be the quickest developing application section of the cellulose acetate amid the conjecture time frame attributable to the mechanical progressions in the material business and rising interest for claim to fame cellulose acetate for textile and apparels. Geographically, the market is studied for North America, Europe, Asia Pacific and Rest of the World. Asia Pacific is evaluated to accomplish the biggest market share of the cellulose acetate market taken after by Europe and North America by 2024. Despite business sectors in Europe and North America have right now achieved development, growth of the worldwide cellulose acetate market is relied upon to be unequivocally bolstered by Asia Pacific because of its high utilization in this area. Latin America and the Middle East and Africa are required to develop advertises because of enhancing economy in the locales before the finish of 2024. The major players involved in this market are Celanese Corporation, Daicel Corporation, Eastman Chemical Co., Mazzucchelli 1849 S.p.A., Mitsubishi Rayon Co., Ltd., Solvay Acetow GmbH, Rotuba Extruders Inc., Sichuan Push Acetati Co. Ltd., China National Tobacco Corporation, Acordis Cellulostic Fibers, Rayonier Advanced Materials, Sappi etc.
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