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Cellulose Acetate Market on Path to Hit $7.72 Billion by 2029 at 7.7% CAGR
Cellulose Acetate
Cellulose Acetate Market Outlook: What Size And CAGR Are Anticipated By 2025?
The market size of cellulose acetate has witnessed robust growth in the recent past. It is projected to increase from a value of $5.44 billion in 2024 to $5.73 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 5.4%. The substantial growth during the historic period can be linked to the film and photography sector, cigarette filters, the textile industry, consumer goods production, the demand for acetate tow, and the rise in biomedical applications.
What Is the Expected CAGR for the Cellulose Acetate Market Growth Through 2029?
Strong expansion is projected for the cellulose acetate market in the forthcoming years, with the market size predicted to reach a value of $7.72 billion in 2029, exhibiting a compound annual growth rate (CAGR) of 7.7%. The expected growth during the forecasted period can be credited to several factors such as the transition towards biodegradable materials, the rising eyewear industry, advancements in biomedical technology, the growth of the textile sector, and the popularity of sustainable fashion. Key trends set to define the forecasted period encompass bio-based cellulose acetate, bespoke acetate mixtures, cellulose acetate butyrate, advancements in film and coating application technologies, as well as market merging and acquisition activities.
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What Are the Primary Drivers Behind Cellulose Acetate Market Growth?
The surge in cigarette usage is anticipated to bolster the expansion of the cellulose acetate market in the future. This is due to the rapid economic growth and population surge, leading to a projected increase in cigarette consumption in numerous low and middle-income countries. Cellulose acetate, primarily employed in creating cigarette filters, makes up a significant portion of cigarette filters worldwide. This filter helps to filter out tar and nicotine while maintaining a good flavor for the smoker. For instance, the Centers for Disease Control and Prevention reported in March 2022 that there were close to 40 million adult smokers in the U.S., and about 2.55 million middle and high school students used at least one tobacco product, including e-cigarettes. Approximately 1,600 U.S. youths under the age of 18 smoke their first cigarette daily. Hence, the escalating use of cigarettes is boosting the expansion of the cellulose acetate market.
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What Are the Key Segments Driving Cellulose Acetate Market 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
What Are the Technological Trends Impacting the Cellulose Acetate Market?
Leading enterprises in the cellulose acetate market are adopting strategic alliances to obtain a market advantage. The goal of these partnerships is to create innovative solutions to cater to the increasing requirement for high-performance materials in 5G mmWave applications. For example, in June 2023, the US-based materials firm, Celanese Corporation, collaborated with Micromax Electronic Inks and Pastes (a brand of Celanese Corporation) and the Industrial Technological Research Institute (ITRI), a research institute based in Taiwan. This collaboration aims to harness the expertise of Celanese in cellulose acetate and Micromax's conductive inks and pastes to invent high-performance materials for 5G wireless gadgets.
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Who Are the Major Competitors in the Global 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.
Which Region Dominates the Cellulose Acetate Market Share in 2025?
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.
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Americas +1 310-496-7795,
Asia +44 7882 955267 & +91 8897263534,
Europe +44 7882 955267,
Email: saumyas@tbrc.info
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