The cellulose acetate market share is expected to increase by USD 1.07 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 3.76%.
This cellulose acetate market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers cellulose acetate market segmentation by type (fiber and plastics), application (filtration, electronics, textile and consumer goods, packaging, and others), and geography (APAC, North America, Europe, MEA, and South America). The cellulose acetate market report also offers information on several market vendors, including Borregaard ASA, Celanese Corp., Daicel Corp., Eastman Chemical Co., Merck and Co. Inc., Mitsubishi Chemical Holdings Corp., Rayonier Advanced Materials Inc., Rotuba Extruders, Sappi Ltd., and Solvay SA among others.
What will the Cellulose Acetate Market Size be During the Forecast Period?
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Cellulose Acetate Market: Key Drivers, Trends, and Challenges
Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The growth of the textile industry in APAC is notably driving the cellulose acetate market growth, although factors such as stringent regulations and policies may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the cellulose acetate industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Cellulose Acetate Market Driver
One of the key factors driving the global cellulose acetate market growth is the growth of the textile industry in APAC owing to its excellent comfort and strength and silky luster. For instance, in 2018, China and India collectively accounted for 58%-61% of the global textile market. Moreover, capacity expansions by textile vendors in APAC have contributed to the textiles market growth in APAC. In January 2019, Aditya Birla Management Corp. Pvt. Ltd. (Aditya Birla Management) proposed to invest USD 1.06 billion for setting up textile production units and capacity expansions in Gujarat, India. Thus, the emergence of India and China as the manufacturing hub for textiles in APAC is one of the major factors expected to drive the adoption of cellulose acetate during the forecast period.
Key Cellulose Acetate Market Trend
Another key factor driving the global cellulose acetate market growth is the product development of acetate filter tow. Companies, including Celanese and Cerdia International GmbH (Cerdia International), have developed new products with improved performance and durability. In June 2018, Celanese announced the launch of the newly regulated product (RP) category in the acetate tow market to encompass the complex and challenging regulatory frameworks. Moreover, in July 2017, Cerdia International introduced Cerdia DE-Tow, the cellulose acetate filter tow with enhanced biodegradability. The products undergo a minimum of 90% biodegradation after 56 days of disposal. The product was also certified by the independent certification body TUV Austria. Such product developments are expected to positively impact the global cellulose acetate market during the forecast period.
Key Cellulose Acetate Market Challenge
One of the key challenges to the global cellulose acetate market growth is the stringent regulations and policies. The Environmental Protection Agency (EPA) and Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH) impose stringent regulations on the use of cellulose acetate as an indirect food additive. The US Food and Drug Administration (FDA) also imposes strict regulations on the use of cellulose acetate. Under the Code of Federal Regulation (CFR) 21 Part 175. The European Union (EU) specifies guidelines under the regulation EU- No 10/2011 on the use of indirect food additives, including cellulose acetate. Compliance with these standards increases the production cost. Thus, such policies are expected to restrict market growth during the forecast period.
This cellulose acetate market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Parent Market Analysis
Technavio categorizes the global cellulose acetate market as a part of the global diversified chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the cellulose acetate market during the forecast period.
Who are the Major Cellulose Acetate Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Borregaard ASA
- Celanese Corp.
- Daicel Corp.
- Eastman Chemical Co.
- Merck and Co. Inc.
- Mitsubishi Chemical Holdings Corp.
- Rayonier Advanced Materials Inc.
- Rotuba Extruders
- Sappi Ltd.
- Solvay SA
This statistical study of the cellulose acetate market encompasses successful business strategies deployed by the key vendors. The cellulose acetate market is concentrated and the vendors are deploying organic and inorganic growth strategies to compete in the market.
Product Insights and News
- Merck and Co. Inc - The company offers cellulose acetate under the brand, MF-Millipore.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The cellulose acetate market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Cellulose Acetate Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the cellulose acetate market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global diversified chemicals market includes the following core components:
- Inputs
- Inbound logistics
- Operations
- Outbound logistics
- Marketing and sales
- Support activities
- Innovation
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for Cellulose Acetate Market?
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57% of the market’s growth will originate from APAC during the forecast period. China, Japan, and South Korea (Republic of Korea) are the key markets for cellulose acetate in APAC.
The rapid expansion of the textile industry in emerging economies such as China and India will facilitate the cellulose acetate market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 had an adverse effect on several end-user industries in 2020. Countries such as China, India, Nepal, Pakistan, South Korea, Malaysia, Sri Lanka, and the Philippines declared either a partial or full lockdown due to the outbreak. As the mortality rate from COVID-19 is high, end-user manufacturers closed or halted their production units, which restricted the growth of the regional cellulose acetate market in 2020. However, with the lifting of lockdowns and restrictive measures, regional manufacturing industries are expected to grow gradually, which, in turn, will propel the growth of the regional cellulose acetate market during the forecast period.
What are the Revenue-generating Type Segments in the Cellulose Acetate Market?
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The cellulose acetate market share growth by the fiber segment will be significant during the forecast period. The growth is attributed to the easy availability, low cost, and wide acceptability of cellulose acetate among end-user industries, including cigarettes and textiles, owing to its excellent filtration properties and strength.
This report provides an accurate prediction of the contribution of all the segments to the growth of the cellulose acetate market size and actionable market insights on post COVID-19 impact on each segment.
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Cellulose Acetate Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.76% |
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Market growth 2021-2025 |
$ 1.07 billion |
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Market structure |
Concentrated |
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YoY growth (%) |
2.23 |
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Regional analysis |
APAC, North America, Europe, MEA, and South America |
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Performing market contribution |
APAC at 57% |
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Key consumer countries |
China, US, Japan, Russian Federation, and South Korea (Republic of Korea) |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Borregaard ASA, Celanese Corp., Daicel Corp., Eastman Chemical Co., Merck and Co. Inc., Mitsubishi Chemical Holdings Corp., Rayonier Advanced Materials Inc., Rotuba Extruders, Sappi Ltd., and Solvay SA |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Cellulose Acetate Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive cellulose acetate market growth during the next five years
- Precise estimation of the cellulose acetate market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the cellulose acetate industry across APAC, North America, Europe, MEA, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of cellulose acetate market vendors
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