Global Acetate Market worth USD 7.01 billion and CAGR 3.6% by 2021

According to the report published by Zion Market Research, the global Acetate Market accounted for around USD 4.82 billion in 2015 and is expected to reach approximately USD 7.01 billion by 2021, growing at a CAGR of around 3.6% between 2015 and 2021.

Cellulose acetate is obtained by acetylation of cellulose with acetic acid by using sulfuric acid as the catalyst. It is a non-flammable thermoplastic polymer, which is obtained from wood pulp. Cellulose acetate is available in the various forms such as granules of fiber and powder. Cellulose acetate is extensively used in photography as a film base, and provide coatings, and as a frame material for eyeglasses. Cigarette filters, textile & apparel, photographic films, tapes & labels and extrusion & molding are the other application areas in which cellulose acetate is used.

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Increasing high consumption of cigarette worldwide is the key driver for cellulose acetate market. Increasing demand from textile & apparel industry coupled with growing demand for cellulose acetate is expected to drive the market growth in the years to come. Increasing disposable income and shift towards modern lifestyle of consumers in developing countries are expected to increase demand for cigarettes, textiles, and plastics which simultaneously affect the market positively. However, increasing health awareness regarding cigarette consumption is expected to hamper the market growth in the years to come.

Cellulose acetate tow and cellulose acetate filament are the key product segments of the cellulose acetate market. Cellulose acetate tow dominated the global cellulose acetate market in 2015 owing to the strong demand from an application like cigarette filters. Cellulose acetate tow accounted for over significant share of the total cellulose acetate volumes consumed in 2015. Cellulose acetate tow is a key component in the manufacturing of cigarette filters, water purification media and extruded plastics due to this cellulose acetate tow dominated the cellulose acetate market.

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On the basis of applications segment, cellulose acetate market is segmented into cigarette filters, textile & apparel, photographic films, tapes & labels, extrusion & molding and other. Cigarette filter was the leading application segment and it accounted for over 80% of the market share in 2015. It is estimated to increase market share over the next few years. Additionally, 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.

Asia Pacific was the largest regional cellulose acetate market and is expected to continue dominance over the forecast period. It accounted for over 50% of the share in 2015. Growth in textiles and cigarette industries is anticipated to boost the cellulose acetate market in this region. Europe and North America is a mature market for cellulose acetate and is estimated to witness sluggish growth rate over the forecast period. Latin America is expected to witness the significant rise in cellulose acetate market due to large demand.

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Global cellulose acetate market is highly competitive, with the presence of well-established global market participants. 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 are some of the key vendors in the market.

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