Press release
Key Trends Shaping the Future Cellulose Acetate Market From 2025-2034: Celanese Corporation Collaborative Leap With Micromax And Industrial Technological Research Institute (ITRI) To Propel Innovation In 5G mmWave Applications
Cellulose Acetate
The cellulose acetate market is projected to expand owing to a predicted surge in cigarette consumption. Cellulose acetate, widely used in producing cigarette filters, can be found in the bulk of cigarette filters worldwide and helps eliminate tar and nicotine, maintaining an enjoyable smoking taste. The anticipated increase stems from rapid economic development and population growth, which is forecast to result in elevated smoking rates in numerous low-to-middle-income countries. For instance, the Centers for Disease Control and Prevention reported in March 2022 that nearly 40 million US adults were habitual smokers. Additionally, approximately 2.55 million intermediate and senior school students smoked a selection of tobacco products, including e-cigarettes. Furthermore, 1,600 youth under the age of 18 in the US take up smoking every day. Consequently, the escalating cigarette consumption has a substantial contribution in enhancing the growth of the cellulose acetate market.
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What is the future CAGR of the cellulose acetate market, and how will it impact industry expansion?
In recent years, the size of the cellulose acetate market has seen substantial growth. The market is projected to increase from $5.44 billion in 2024 to $5.82 billion in 2025, representing a compound annual growth rate (CAGR) of 7.0%. Key factors contributing to this growth during the historic period include the film and photography industry, cigarette filters, the textile industry, consumer goods manufacturing, a rising demand for acetate tow, and a surge in biomedical applications.
In the coming years, the cellulose acetate market is anticipated to witness considerable growth, expanding to a valuation of $7.94 billion by 2029, with a compound annual growth rate (CAGR) of 8.1%. Rising trends towards biodegradable materials, an expanding eyewear market, advancements in biomedical technology, a growing textile industry, and sustainable fashion patterns are among the factors likely to stimulate its growth during the projected period. Key trends shaping the forecast period encompass bio-based cellulose acetate, custom acetate blends, cellulose acetate butyrate, technological advancements in film and coating applications, and market integration and acquisitions.
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What are the most significant trends transforming the cellulose acetate market today?
The key players in the cellulose acetate market are establishing strategic partnerships to attain a competitive advantage in the market. The purpose of these collaborations is to conceive innovative solutions to cater to the escalating demand for high-performance materials in 5G mmWave applications. Take for example, in June 2023, Celanese Corporation, a US-based material company, collaborated with Micromax Electronic Inks and Pastes, a subsidiary of Celanese Corporation, and Industrial Technological Research Institute (ITRI), a research institute situated in Taiwan. This partnership was formed to utilize the specialized skills of Celanese in cellulose acetate and the expertise of Micromax in conductive inks and pastes, with a goal to produce superior materials for 5G wireless devices.
Which key market segments comprise the cellulose acetate market and drive its revenue growth?
The cellulose acetate market covered in this report is segmented -
1) By Type: Fiber, Plastics
2) By Product: Cellulose Acetate Filament, Cellulose Ester Plastics, Cellulose Acetate Tow, Cellulose Acetate, Flakes, Other Products
3) By Application: Cigarette Filters, Textiles And Apparel, Photographic Films, Tapes And Labels, Other Applications
Subsegments:
1) By Fiber: Acetate Tow, Acetate Staple Fiber
2) By Plastics: Cellulose Acetate Butyrate (CAB), Cellulose Acetate Propionate (CAP), Cellulose Acetate Sheets, Cellulose Acetate Film
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What regions are at the forefront of cellulose acetate market expansion?
Asia-Pacific was the largest region in the cellulose acetate market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cellulose acetate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the cellulose acetate market?
Major companies operating in the cellulose acetate market include Sichuan Push Acetati Co. Ltd., China National Tobacco Corporation, Dayang Chem (Hangzhou) Co. Ltd., Mitsubishi Chemical Holdings Corporation, Asahi Kasei Corporation, Toray Industries Inc., Solvay S.A., Eastman Chemical Company, Celanese Corporation, Showa Denko K.K., Teijin Limited, Sappi Limited, Kaneka Corporation, Daicel Corporation, Kuraray Co. Ltd., Toyobo Co. Ltd., SK Chemicals Co. Ltd., Rayonier Advanced Materials Inc., Nippon Acetate Co. Ltd., Mazzucchelli 1849 S.p.A., Unitika Ltd., Cerdia International GmbH, Borregaard ASA, Acetex Corporation, Tianjin NAT Technology Co. Ltd., Rotuba Extruders Inc., Haihang Industry Co. Ltd., Youngbo Textile Co. LTD., Acetati S.p.A., Acetylation Industries Inc.
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What Is Covered In The Cellulose Acetate Global Market Report?
• Market Size Forecast: Examine the cellulose acetate market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the cellulose acetate market for a structured understanding.
• Key Players Overview: Analyze major players in the cellulose acetate market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the cellulose acetate market.
• Segment Contributions: Evaluate how different segments drive overall growth in the cellulose acetate market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the cellulose acetate market.
• Industry Challenges: Identify potential risks and obstacles affecting the cellulose acetate market.
• Competitive Landscape: Review strategic developments in the cellulose acetate market, including expansions, agreements, and new product launches.
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