Cellulose Acetate Market Analysis

Global Cellulose Acetate Market Overview

Cellulose Acetate Market Size was valued at USD 6.40 billion in 2023. The cellulose acetate industry is projected to grow from USD 6.70 Billion in 2024 to USD 9.30 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.18% during the forecast period (2024 - 2032).The growing consumer demand for low-tar cigarettes around the world, as well as properties that extend the shelf life of food products are the key market drivers enhancing the market growth.Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Cellulose Acetate Market Trends

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  Rise in cigarette usage is propelling the market growth.

  
  

The rise in cigarette usage is likely to propel the cellulose acetate market CAGR ahead. Cigarette usage is expected to surge in many low- and middle-income countries due to rapid economic development and population growth. Cellulose acetate is largely used in the production of cigarette filters, and is found in the great majority of cigarette filters worldwide. The filter helps to remove tar and nicotine while maintaining a pleasant taste for the smoker.

According to the Centres for Disease Control and Prevention, a US national public health agency, nearly 40 million U.S. adults smoked cigarettes in March 2022, and an estimated 2.55 million middle and high school students used at least one tobacco product, including e-cigarettes. Every day, over 1,600 American kids under the age of 18 smoke their first cigarette. As a result, rising cigarette usage drives the cellulose acetate market growth.

Furthermore, rising demand from the textiles and apparel industries is likely to drive industry growth in the future years. Because it is soft and absorbent, cellulose acetate is suited for a wide range of textile applications. It can also be coloured in a variety of colours. Thus, rise in demand from the apparel business due to changing consumer tastes, as customers try to update to the continuing fashion changes, is expected to produce a massive surge in demand for cellulose acetate in the industry ly.

Moreover, the growing number of advances by various companies is expected to fuel industry growth. Eastman, for example, updated its Naia fiber line in February 2020 by releasing its new cellulose staple fiber, a versatile and eco-conscious material option appropriate for sustainable fashion. Thus drives the cellulose acetate market revenue.

Cellulose Acetate Market Segment Insights

Cellulose Acetate Type Insights

The cellulose acetate market segmentation, based on type includes fiber and plastic. The fiber segment dominates the industry. This massive market share might be attributable to the increased demand for fiber-based cellulose acetate in the textile industry. The fiber-based cellulose acetate is largely utilized in the manufacture of consumer goods such as apparel, carpets, lining, umbrellas, furniture, felts, and cigarette filters. Cellulose acetate fiber is a prominent type of synthetic fiber that is valued for its draping capabilities and inexpensive cost. Furthermore, staple acetate fibers are employed as a wool substitute in the production of several types of knitwear and luxury fabrics. Thus, the expanding textile industry is expected to boost the segment's growth in coming years.

Figure1: Cellulose Acetate Market, by Type, 2022 & 2032 (USD billion)Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Cellulose Acetate Application Insights

The cellulose acetate market segmentation, based on application includes, textiles & apparels, cigarette filters, photographic films, tapes & labels, spectacle frames and others. The cigarette filters sector has the largest share of the market in 2022 and is projected to lead the industry in the coming years. Cigarette filters are one of the most common uses for cellulose acetate. Because of its filtration qualities, cellulose acetate is a popular filter material. It is also biodegradable. Furthermore, the industry is expected to grow because to an increase in the number of smokers in developing economies such as India and China. However, increased public awareness of the harmful consequences of smoking on health is expected to stymie the segment's expansion.

Cellulose Acetate Regional Insights

By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The Asia-Pacific region has the largest market share. During the projection period, Asia-Pacific is expected to be the fastest-growing region. The growing usage of cellulose acetate in cigarette filters, textiles and apparel, photographic films, and tapes and label applications, as well as strong government initiatives and ongoing projects, will drive the APAC market.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure2: CELLULOSE ACETATE MARKET SHARE BY REGION 2022 (%)Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe’s cellulose acetate market accounts for the second-largest market share due to the increasing demand from textile industry. Further, the German cellulose acetate market held the largest market share, and the UK cellulose acetate market was the fastest-growing market in the European region

The North America Cellulose Acetate Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to changing living standards of the population is anticipated to drive the growth in the market. Moreover, China’s cellulose acetate market held the largest market share, and the Indian cellulose acetate market was the fastest-growing market in the North American region.

Cellulose Acetate Key Market Players & Competitive Insights

Leading market players are investing heavily in R&D in order to expand their product lines, which will help the cellulose acetate market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, cellulose acetateindustry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the cellulose acetate industry to benefit clients and increase the market sector. In recent years, the cellulose acetate industry has offered some of the most significant advantages to medicine. Major players in the cellulose acetate market, including Eastman Chemical Company (U.S.), Solvay (Belgium), Mitsubishi Chemicals Holdings Corporation (Japan) and others, are attempting to increase market demand by investing in R&D operations.

Daicel Corporation is a Japanese chemical firm. Celluloid technologies, organic chemicals, high-performance chemicals, polymers, and pyrotechnic devices are among its products. Cellulose acetate, tow for cigarette filters, high-performance chemicals, technical plastics such as liquid crystal polymers (LPCs), resin compounds, and automobile airbag inflators are among the company's goods. Dainippon Celluloid Company was created from a 1919 merger of eight regional celluloid firms and changed its name to the current one in 1966. Fuji Photo Film, the company's original subsidiary, was founded in 1934 to manufacture nitrocellulose film. This company eventually became Fujifilm. In September 2021,  Daicel Croprotaion has received the "OK biodegradable MARINE" certification for its Cabflotm cellulose acetate product.

Eastman Chemical firm is a chemical firm based in the United States. Previously a division of Kodak, it is now an independent worldwide speciality materials company that manufactures a wide range of sophisticated materials, chemicals, and fibers for everyday use. The corporation, which was founded in 1920 and is headquartered in Kingsport, Tennessee, presently has over 50 manufacturing sites ly and employs around 14,000 people. Eastman was separated from parent company Eastman Kodak in 1994. Its sales revenue in 2021 is expected to be around $10.5 billion. Eastman produces and sells chemicals, fibers, and plastics. It manufactures copolyesters for packaging as well as coatings, adhesives, and speciality plastics. It is a major provider of cellulose acetate fibers. In May 2020, Eastman has established a partnership with Rotuba to produce face shields for medical professionals during the coronavirus pandemic. Rotuba will use Eastman's cellulose acetate in this collaboration to produce around 75,000-100,000 splash guards per week.

Key Companies in the cellulose acetate market include

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  Solvay (Belgium)

  
  


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  Celanese Corporation (U.S.)

  
  


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  Daicel Corporation (Japan)

  
  


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  Accords Cellulosic Fibers Inc. (U.S.)

  
  


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  China National Tobacco Corporation (China)

  
  


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  SK Chemicals (South Korea)

  
  


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  Sappi (South Africa)

  
  


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  Rayonier Advanced Materials (U.S.)

  
  


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  Sichuan Push Acetate Co. Ltd.(China)

  
  


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  Borregaard (Norway)

  
  


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  Eastman Chemical Company (U.S.)

  
  

Cellulose Acetate Industry Developments

Shin-Etsu Chemical Co., Ltd has announced its plan to release thermal interface silicon-based sheets for electric vehicle components in April 2022. The use of these silicones as a thermal interface material can dissipate heat effectively because of their high voltage demands for electronic car parts.

In March 2022, Kuraray Co., Ltd. decided to stop manufacturing KURAGEL and shut down the production site. The decision might have been taken as a result of market conditions or strategic realignments. PVA gels such as KURAGEL are commonly applied in different fields like cosmetics, pharmaceuticals and industrial processes.

BASF stated that it will invest approximately $30 million into its superabsorbent polymers (SAP) business in March 2021. The said huge investment is within BASF's strategic moves aimed at strengthening its position in the SAP market.

BASF developed Luviset 360 on May 5th, 2020, a new styling polymer gel designed specifically for humid regions. It is a product intended to solve typical problems associated with maintaining hair style during periods when humidity levels are very high, providing strong, lasting hold even when there is a high moisture content in the atmosphere.

In February 2020, Northstar Polymers formulated polyurethane gel resins for OOO Durometer and Shore OO Durometer made by OOO Durometer and Shore OO Durometer manufacturers based in the USA, respectively. New formulations of polyurethane gel resins from Northstar Polymers reduced surface tack levels significantly. The development of polyurethane gels mainly focuses on obtaining low-tack surfaces. These tests measure the hardness of soft materials using scales called OOO Durometer and Shore OO Durometer, which are appropriate for extremely soft gels, rubbers or elastomers but not hard ones. The softer an object is, according to this scale, usually means that the object absorbs shock well and is more comfortable, cushy or bouncy.

Cellulose Acetate Market Segmentation

Cellulose Acetate Market Type Outlook

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  Fiber

  
  


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  Plastic

  
  

Cellulose Acetate Market Application Outlook

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  Textiles & Apparels

  
  


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  Cigarette Filters

  
  


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  Photographic Films

  
  


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  Tapes & Labels

  
  


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  Spectacle Frames

  
  


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  Others

  
  

Cellulose Acetate Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America