Cellulose Acetate Market: Current Analysis and Forecast (2021-2027)

Cellulose acetate is used in fibers, plastics, photographic films, lacquers and reverse osmosis or dialysis membranes. Awareness for clean and greener environment people are consuming products which biodegrades easily. Further, governments are taking various steps to ensure safety and integrity of the environment. Owing to this, conventional non-biodegradable plastic bags are being replaced by the biodegradable bags which are made from cellulose acetate, hence with rising demand of biodegradable bags demand for cellulose acetate would also escalate. Further, cellulose acetate-based reverse osmosis membranes comprise an asymmetric polymer commonly used in the construction of RO membrane elements although it has high tight operating requirements. Less fouling observance of cellulose acetate membrane is noted due to its smooth surface. In addition, cellulose acetate membranes are easily degraded by bio-fueling.

Based on type, the cellulose acetate market is segmented into fiber and plastic. Fiber category holds a considerable market share owing to increasing demand for cigarette filter due to increasing number of cigarette smokers globally and increasing use of cellulose acetate in textiles and apparels industry due to changing trends in fashion industry.

Based on application, the cellulose acetate market is divided into cigarette filters, textiles & apparels, LCD & photographic films, tapes & labels, and others. Among all, cigarettes filters holds a lucrative market share. This is mainly owing to surging demand for cigarettes which is very common among the youth nowadays. For instance, according to Centers for Disease Control and Prevention, in 2019, 8 of every 100 adults aged 18-24 years and 17 of every 100 adults aged 25-44 years smoked cigarette in USA.

For a better understanding of the market adoption of Cellulose Acetate, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Spain, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, Rest of APAC), and Rest of World. Asia Pacific is likely to witness high growth due to high consumption of biodegradable paper bags due to rising population in the region.

Some of the major players operating in the market include Arkema SA, Eastman Chemical Company, Cerdia International GmbH, Solvay, Celanese Corporation, Daicel Corporation, China National Tobacco Corporation, Mitsubishi Chemical Corporation, Sichuan Push Acetati Co. Limited, Rayonier Advanced Materials Inc., Sappi Limited. Several M&A's along with partnerships have been undertaken by these players to boost their presence in different regions.