Cellulose Acetate Market Size 2020- COVID-19 Analysis, Demand and Forecast to 2023
Market
Overview
Cellulose Acetate Market is available in two types
namely fiber and plastics. The fiber segment dominated the market in 2016 owing
to its easy availability. The fiber type cellulose acetate held major of the
global market share in 2016 due to its extensive use in the manufacturing of
cigarette tows and textiles. Acetate fibers are fast drying, wrinkle resistant,
and soft used for dresses, draperies, carpets, umbrellas, and others. It is
used in the manufacturing of cigarette tows due to its high heat stability,
high absorptivity, and biodegradability. The biodegradable nature of cellulose
acetate is likely to offer substantial opportunities to the plastic type
cellulose acetate in the mature markets such as the U.S.
The
application segment includes textiles & apparels, cigarette filters,
photographic films, tapes & labels, spectacle frames, and others. Growing
demand from the textiles & apparels industry is majorly driving the global cellulose
acetate market growth. This growth is attributed to
various properties that the product offer such as soft nature, heat-resistance,
and comfort. The increasing use of cellulose
acetate solubility as a replacement of silk owing to its low cost is expected
to fuel the growth of the textile industry. The product demand from
ophthalmology industry for manufacturing
frame-wears is expected to fuel the market growth during the review
period. However, the demand for cellulose acetate manufacturers in photographic
films is likely to decline on account of the substitution by other low-cost effective products such as polyesters.
Segmentation Analysis
The Global
Cellulose Acetate Market is segmented based on the type, application, end-use
industry, and region.
The Global
Cellulose Acetate Market is segmented based on the type as fiber and plastic.
Based
on the application, the market is segmented into textiles &
apparels, cigarette filters, photographic films, tapes & labels, spectacle
frames, and others.
Key Players
·
Eastman
Chemical Company
·
Solvay
·
Mitsubishi
Chemicals Holdings Corporation
·
Celanese
Corporation
·
Daicel
Corporation
·
China
National Tobacco Corporation
·
Accordis
Cellulosic Fibers Inc.
·
SK
Chemicals
·
Sichuan
Push Acetati Co.Ltd.
·
Sappi
·
Rayonier
Advanced Materials
·
Borregaard
Regional
Analysis
Geographically, the global cellulose acetate market is segmented into
five regions namely Asia Pacific, North
America, Europe, Latin America, and the Middle East & Africa.
Asia Pacific accounted for a major market share
in 2016 owing to growing demand from the textiles & apparels industry in
countries such as India, China, and others. India’s textiles & clothing
industry is one of the largest consumers across the globe, contributing nearly
13.25% of India’s total exports. Various
government initiations for the growth of the textiles industry is expected to
drive the cellulose acetate market in the region. For instance, under the “Make
in Maharashtra” initiative, the State Government is working on a policy to
promote investments in the sector. The Government is also focusing on setting
up new garment & apparel units in cotton-producing regions of the state.
Also, the government of Telangana is planning to develop India’s largest
textile park in the Warangal district. Furthermore, Uttarakhand has been approved for setting up two textile parks
under the State Infrastructure and Industrial Development Corporation of
Uttarakhand Limited (SIIDCUL), which will provide hi-tech infrastructure
facilities, modern technology, training, and raw material. This is expected to
provide job opportunities to not only the weavers but also the educated and
skilled youth. According to the 11th Five Year Plan, the textile
industry is expected to reach USD 115 billion.
Europe was the second largest region in the global cellulose acetate market in
2016 on account of the high product demand from textiles & apparels
industry. Europe Union regulation 1007/2001 on fiber names, related labeling, and marking of the fiber composition
of textile products, aligns laws in all European countries for protection of
consumer interests and reducing the risk of fraud. Furthermore, in June 2016.
North
America is expected to witness a
considerable growth due to the growing product demand from the textiles and
food packaging industry over the assessment period.
Access
Complete Report with TOC, Tables and
Figures@ https://www.marketresearchfuture.com/reports/cellulose-acetate-market-6029
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