The global market for Cellulose Acetate is projected to decline to 751.1 thousand metric tons by 2024

Declining Consumption of Acetate Tow Impacts Growth in the Cellulose Acetate Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market size, share and demand forecasts on the global Cellulose Acetate market. The global market for Cellulose Acetate is projected to decline to 751.1 thousand metric tons by 2024 saddled by the fall in cigarette sales.

Cellulose acetate, a manmade polymer produced by reacting cellulose and acetic acid, is a transparent thermoplastic material. Manufactured using plant cellulose, the material finds a wide range of applications including cigarette filter, photographic film, textiles, packaging and plastic products among others. Cigarette filters represent the major application segment for cellulose acetate, where cellulose acetate tow remained the material of choice for decades while considerable competition exists in other applications. Fortunes of the market, therefore, are closely tied to the trends in the cigarette market. Increasing regulations, rising taxation and growing awareness of perils of smoking are contributing to fall in sales of cigarettes, and in turn cellulose acetate consumption volume. Several countries worldwide have considerably raised taxes on cigarettes in recent years, a major tool in governments’ armamentarium to discourage smoking, leading to significant decline in cigarette sales, particularly in developed markets. With leading cigarette markets such as China and Russia also resorting to stringent legislations on curbing tobacco use, sales of cigarettes are expected to fall in the coming years, negatively affecting the market for cellulose acetate.

Design innovations are underway as manufacturers strive to adhere to changing laws and seek new opportunities in a falling market. Novel filter designs such as longer filters for adherence to laws on reducing select constituents in cigarette smoke and capsules in filters that provide additional flavors as well as a means to differentiate products are some of the novel design innovations witnessing growth. Opportunities exist in special cigarette filters that help prevent harmful toxins and mask the taste of tobacco. Outside the cigarette market, opportunities exist in applications such as ink reservoirs found in fiber-tip pens and specialty paper, as well as bio-plastics, encapsulation, film, specialty fibers and adhesives. By engineering novel properties and product forms, companies are aiming at venturing into new lucrative application areas and high-growth markets. Sizable opportunities also exist in applications such as pharmaceutical coatings, and are being explored for use in a range of other applications including reverse osmosis, anti-counterfeiting and biotech applications among others.   

As stated by the new market research report on Cellulose Acetate, Asia-Pacific represents the largest market worldwide supported by the presence of countries with high cigarette smoking prevalence such as China and Indonesia, and large cigarette manufacturing base in China. Cigarette filter tow constitutes the largest application for cellulose acetate, while encouraging prospects exist in applications such as Surface Coatings, Film & Sheet Castings, Molding & Extrusion and Inks & Reprographic Formulations.

Major players in the market include Celanese Corporation, Daicel Corporation, Eastman Chemical Company, Mitsubishi Chemical Corporation and Sichuan Push Acetati Co., Ltd. among others.

The research report titled “Cellulose Acetate: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for Cellulose Acetate in volume terms for all major geographic markets such as United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China and Rest of Asia-Pacific), Middle East & Africa, and Latin America (Brazil and Rest of Latin America). Application markets analyzed in the report include Cigarette Filter Tow, Textile Fibers, Photographic Film, Film & Sheet Castings, Molding & Extrusion, Surface Coatings and Inks & Reprographic Formulations.

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