Cellulose Acetate Market Challenges to 2023 | Key Players Eastman Chemical Company (U.S.), Solvay (Belgium), Mitsubishi Chemicals Holdings Corporation (Japan)

Market Overview to 2023

Cellulose acetate is a synthetically derived compound through the acetylation of cellulose. Cellulose acetate is made from processed wood pulp. This pulp is processed using acetic anhydride to form acetate flake, which used in the synthesis of cellulose acetate. Cellulose acetate is biodegradable. It can also be produced by treating cotton with acetic acid, using sulfuric acid as a catalyst.

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Key Players

Some of the manufacturers operating in the global cellulose acetate market are Eastman Chemical Company (U.S.), Solvay (Belgium), Mitsubishi Chemicals Holdings Corporation (Japan), Celanese Corporation (U.S.), Daicel Corporation (Japan), China National Tobacco Corporation (China), Accordis Cellulosic Fibers, Inc. (U.S.), SK Chemicals (South Korea), Sichuan Push Acetati Co., Ltd. (China), Sappi (South Africa), Rayonier Advanced Materials (U.S.), and Borregaard (Norway).

Intended Audience

Cellulose Acetate Manufacturers
Traders and distributors of Cellulose Acetate
Research and development institutes
Potential investors
Raw material suppliers
Nationalized laboratory

Nevertheless, the market players are focusing on strategic development by mergers, acquisition, product launch, and others. For instance, in May 2016, Solvay and Eastman Chemical Company signed a definitive agreement to end their cellulose acetate production joint venture Primester with Solvay becoming the owner of the Eastman’s cellulose acetate flake plant in the U.S.

Global cellulose acetate market is majorly driven by the product demand from textiles & apparel industry in Asia Pacific region. The product is highly used in woven fabrics, knitting, and braided textiles. Various applications of cellulose acetate include medical gauze, ribbons, coffin linings, home furnishings, woven velvets, woven satins, and others. The product is available in a variety of deniers, lusters, colors, finishes, package size, and compactions types. Additionally, the product offers good toughness, deep gloss, and high transparency. It is often blended with other fibers to make combination yarns. The product is used in the production of cigarette filter tow as it reduces overall nicotine and tar intake and is biodegradable. The increasing consumer demand for low tar cigarettes across the globe is likely to propel the market growth during the review period.

Furthermore, cellulose acetate is also used in food packaging as it possesses relatively low gas & moisture barrier properties and is plasticized for film production. These properties increase the shelf life of food products, which is expected to fuel the product demand in the food packaging sector over the review period. The product finds its application in wound dressings, personal hygiene products, and absorbent clothes & wipes due to its moisture retention, cytotoxicity, as well as antibacterial properties against bacterial species Staphylococcus aureus, Escherichia Coli, and the yeast Candida albicans.

Regional Analysis

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 was dominating the global cellulose acetate market in 2016 owing to the high demand from textiles & apparels industry. Changing lifestyle coupled with the high disposable income in countries such as India and China is likely to propel the product demand during the review period, 2018-2023.

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According to the International Trade Association, China is the fifth largest market for the U.S. medical textiles and protective apparels. Europe was the second largest market across globe in the year 2016 on account of the growing textiles & clothing sector generating a turnover of around Euro 166 billion. North America is expected to witness a considerable growth on account of high demand for cellulose acetate in the food packaging and textiles industry. Latin America is projected to witness a considerable growth due to growing textile industry in Peru, Brazil, Mexico, and Columbia. The Middle East & Africa is likely to grow moderately due to the expanding yet untapped market region.

Segmentation

The global cellulose acetate market is segmented on the basis of the type, application, and region. On the basis of the type, the global cellulose acetate market is segmented into fiber and plastic. Based on the application, the market is segmented into textiles & apparels, cigarette filters, photographic films, tapes & labels, spectacle frames, and others.

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