Sarasota, FL, Sept. 02, 2016 (GLOBE NEWSWIRE) -- Zion Research has published a new report titled “Cellulose Acetate (Cellulose Acetate Tow and Cellulose Acetate Filament) Market for Cigarette Filters, Textile & Apparel, Photographic Films, Tapes & Labels, Extrusion & Molding and Other Applications - Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021”. According to the report, global cellulose acetate market was valued at around USD 4.82 billion in 2015 and is expected to reach USD 7.01 billion in 2021, growing at a CAGR of around 3.6% between 2016 and 2021. In terms of volume, the global cellulose acetate market stood at above 3,000 tons in 2015.
Cellulose acetate is a non-flammable thermoplastic polymer produced by acetylation of cellulose with acetic acid by using sulfuric acid. Cellulose acetate is available in various forms such as granules of fiber, powder, and granules. It also obtained from wood pulp. Cellulose acetate is widely used in the photography industry as a film base and it also used in the manufacturing of eyeglasses as a frame material. Cigarette filters, textile & apparel, photographic films, tapes & labels, and extrusion & molding are the other application areas in which cellulose acetate is used.
Browse 32 Market Tables and 12 Figures spread through 110 Pages and an in-depth TOC on “Cellulose Acetate Market - Global Size, Shares, Trends, Segment & Forecast to 2021”
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Growing high consumption of cigarette worldwide has led to the increased cellulose acetate demand in the past few years. This trend is expected to continue within the forecast period. The increase in disposable income and changes in the lifestyle of consumers in developing countries such as China, Brazil and India are predicted to boost up the demand for cellulose acetate in cigarettes, textiles and plastics industry. Additionally, utilization of cellulose acetate in eyewear frames and food packaging applications is likely to drive the cellulose acetate market during the forecast period. However, rising health awareness regarding cigarette consumption in developed regions may curb the market growth within the forecast period.
Browse the full "Cellulose Acetate (Cellulose Acetate Tow and Cellulose Acetate Filament) Market for Cigarette Filters, Textile & Apparel, Photographic Films, Tapes & Labels, Extrusion & Molding and Other Applications - Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021" report at https://www.zionmarketresearch.com/report/cellulose-acetate-market
On the basis of product type cellulose acetate market can be segmented as cellulose acetate tow and cellulose acetate filament. Cellulose acetate tow was the largest product segment and accounted for a significant share of the global cellulose acetate market in 2015. Cellulose acetate tow is a key component in the manufacturing of cigarette filters, water purification media and extruded plastics.
Based on the applications segment, cellulose acetate market is categorized into cigarette filters, textile & apparel, photographic films, tapes & labels, extrusion & molding and other. Cigarette filter was the largest application segment in 2015 and it accounted for over 80% of the market share in the same year. It is estimated to increase market share over the next few years. Moreover, textile & apparel accounted for the second-largest share of the global cellulose acetate market in 2015. Cellulose acetate is also used in apparel linings and velvet fabrics and is also blended with other synthetic fibers such as rayon and polyester which is expected to growth cellulose acetate market.
Increasing cigarette consumption in countries such as India, China, and other countries is expected to drive the market for cellulose acetate in Asia Pacific. Furthermore, increased consumption of apparel and plastics in these countries is expected to propel demand for cellulose acetate in the years to come. Moreover, China is expected attract the most investment for expansions of cellulose acetate cigarette filter tow facilities.
In terms of demand, Europe accounted for the second largest share in the global cellulose acetate market in 2015. This growth is mainly attributed to the increasing demand from textile industry and tapes & labels. However, price volatility of raw materials such as acetic anhydride and increasing awareness regarding ill effects of smoking in Europe are expected to hinder demand for cellulose acetate in the region in the near future. Thus, the cellulose acetate market is expected to show steady growth in the years to come.
North America is expected to exhibit significant demand for cellulose acetate in the near future. Increasing demand from textile and surface coating industry are the key driving forces for cellulose acetate market in this region. North America is a mature market for cellulose acetate and is estimated to witness moderate growth rate over the forecast period.
Latin America and the Middle East & Africa are expected to be emerging markets for cellulose acetate during the forecast period. Middle East & Africa is another important regional market for cellulose acetate on account of the growing population coupled with increasing demand from textile & apparel industry. Middle East & Africa is expected to exhibit decent growth in the near future. The increasing use of cellulose acetate in LCD's is further expected to augment the demand for cellulose acetate in Middle East & Africa regions within the forecast period. Latin America is expected to witness moderate growth in the years to come.
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Some of the key players operating in this market such as Celanese Corporation, Daicel Chemical Industries, Eastman Chemical Company, Mitsubishi Rayon Company Limited, Rhodia Acetow GmbH, SK Chemicals Co. Ltd, Borregaard, Rayonier, Sappi, Tembec, Chinese National Tobacco Corp, Imperial Tobacco Group, Rotuba Extruders, Philip Morris International, Acordis Acetate and Primester.
The report segments the global cellulose acetate market into:
Global Cellulose Acetate Market: Product Segment Analysis
- Cellulose acetate tow
- Cellulose acetate filament
Global Cellulose Acetate Market: Application Segment Analysis
- Cigarette filters
- Textile & apparel
- Photographic films
- Tapes & labels
- Extrusion & molding
Global Cellulose Acetate Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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