Cellulose Acetate Market: Current Analysis and Forecast (2021-2027)
$3999 – $7577
Emphasis on Type (Fiber and Plastic); Application (Cigarette Filter, Textiles & Apparel, LCD & Photographic Films, Tapes & Labels, and Others); Region/Country
Global Cellulose Acetate Market was valued at around US$ 4 billion in 2020 and is likely to showcase growth of ~4% during the forecast period (2021-2027). Increasing government initiatives and encouragement is urging the regional manufacturers to use sustainable components in the production of products represents the key driving factors that can help boost the market growth over the forecast period. China exceeded the US to become the largest logistics market in the world in 2013. Packaging plays an essential role in logistics, and its market value exceeded USD 155 Bn in 2020. For instance, HOREN CoRTP, a logistics company in China is dedicated to replacing disposable packaging with smart returnable transit packaging alternatives. Moreover, the company signed agreements with two major carbon management organizations, the Carbon Neutrality Committee of the China Energy Conservation Association and Climate Bridge Co. Ltd. for exploring carbon neutralization of logistics packaging. Adhesives used in manufacturing tapes uses cellulose acetate. Increasing logistics industry in the region would lead to more consumption of tapes as it is used in packaging and sealing. Thus, with increasing demand for tapes would escalate the growth for cellulose acetate market in the country.
Some of the major players operating in the market include Arkema SA, Eastman chemical Company, Cerdia International GmbH, Solvay Celanese Corporation, Daicel Corporation, China National Tobacco Corporation, Mitsubishi Chemical Corporation, Sichuan Push Acetati Co. Limited, Rayonier Advanced Materials Inc., Sappi Limited. Several M&A’s along with partnerships have been undertaken by these players to boost their presence in different regions.
Insights Presented in the Report
“Amongst type, fiber category held lucrative market share.”
Based on type, the cellulose acetate market is segmented into fiber and plastic. Fiber category holds a considerable market share owing to increasing demand for cigarette filter due to increasing number of cigarette smokers globally and increasing use of cellulose acetate in textiles and apparels industry due to changing trends in fashion industry.
“Amongst application, textiles & apparels likely to witness high growth rate in 2020.”
Based on application, the cellulose acetate market is divided into cigarette filters, textiles & apparels, LCD & photographic films, tapes & labels and others. Expanding textile and apparels in emerging countries which uses cellulose acetate would lead to a considerable growth of cellulose acetate. According to India Brand Equity Foundation, Indian textile and apparel industry was USD 150 Billion and is anticipated to expand to USD 220 billion by 2026.
“Asia Pacific represents prominent market share in the Global Cellulose Acetate Market.”
For a better understanding of the market adoption of cellulose acetate, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, France, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Currently, Asia Pacific held lucrative market share and is expected to grow throughout the forecast period. The shopping bags manufacturers in the region are increasingly putting focus on the production of biodegradable bags which can be made from several materials including cellulose acetate in order to develop sustainable and eco-friendly environment. Further, cigarettes smoking is common among the youth which would lead to more demand for cigarette filters which is made from cellulose acetate to fulfil the supply in the market thus expanding the market. For instance, in 2018 China produced 2,240 Mn Kg and India produced 800 Mn Kg of tobacco.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive regional & country-level analysis of the industry
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|1.1. Market Definitions|
|1.3. Stake Holders|
|1.4. Currency used in Report|
|2.1. Research Process of the Cellulose Acetate Market|
|2.2. Research Methodology of the Cellulose Acetate Market|
|2.3. Forecasting Method|
|2.4. Respondent Profile|
|2.5. Main Objective of the Cellulose Acetate Market Study|
|3. MARKET SYNOPSIS|
|4. EXECUTIVE SUMMARY|
|5. GLOBAL CELLULOSE ACETATE MARKET COVID-19 IMPACT|
|6. GLOBAL CELLULOSE ACETATE MARKET REVENUE (USD BN), 2019-2027F|
|8.1. Cigarette Filters|
|8.2. Textiles & Apparel|
|8.3. LCD & Photographic Films|
|8.4. Tapes & Labels|
|9.1. North America Cellulose Acetate Market|
|9.1.3.Rest of North America|
|9.2. Europe Cellulose Acetate Market|
|9.2.5.Rest of Europe|
|9.3. Asia Pacific Cellulose Acetate Market|
|9.3.5.Rest of Asia Pacific|
|9.4. Rest of World Cellulose Acetate Market|
|10.1. Market Drivers|
|10.2. Market Challenges|
|10.3. Impact Analysis|
|11. CELLULOSE ACETATE MARKET OPPORTUNITIES|
|12. CELLULOSE ACETATE MARKET TRENDS|
|13. LEGAL & REGULATORY FRAMEWORK|
|14.1. Demand Side Analysis|
|14.2. Supply Side Analysis|
|14.2.1. Top Product Launches|
|14.2.2. Top Business Partnerships|
|14.2.3. Top Business Expansions, Investments and Divestitures|
|14.2.4. Top Merger and Acquisitions|
|15. VALUE CHAIN ANALYSIS|
|16.1. Competitive Landscape|
|16.1.1. Company Shares, By Revenue|
|17.1. Arkema SA|
|17.2. Eastman chemical Company|
|17.3. Cerdia International GmbH|
|17.4. Solvay Celanese Corporation|
|17.5. Daicel Corporation|
|17.6. China National Tobacco Corporation|
|17.7. Mitsubishi Chemical Corporation|
|17.8. Sichuan Push Acetati Co. Limited|
|17.9. Rayonier Advanced Materials Inc.|
|17.10. Sappi Limited|
Analyzing the historical market, estimation of the current market, and forecasting the future of global cellulose acetate were the three major steps undertaken to create and analyze the adoption of cellulose acetate across various segments in North America, Europe, Asia Pacific, & Rest of the world. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the cellulose acetate. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detailed secondary study was conducted to obtain the historical market size of the cellulose acetate through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the cellulose acetate market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report are as type and application. Further regional & country-level analyses were conducted to evaluate the overall adoption of cellulose acetate in the global context.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of cellulose acetate. Further, we conducted factor analysis using dependent and independent variables like changing fashion trends and rising demand of cigarettes. Historical trends and their year-on-year impact on the market size and share in the recent past were analyzed. Demand and supply side scenario was also thoroughly studied.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global cellulose acetate market, and market shares of the segments. All the required percentage split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$) and the adoption rate of cellulose acetate across the major markets
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the cellulose acetate market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major countries. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global cellulose acetate market. Data was split into several segments & sub-segments post studying various parameters and trends in the type and application.
The main objective of the Cellulose Acetate Market Study
The current & future market trends of cellulose acetate were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends determine the overall attractiveness of the market at a global & country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of cellulose acetate in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of type and application.
- Defined analysis of the regulatory framework for the global cellulose acetate industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the cellulose acetate for the major regions & countries
- Major regions studied in the report include North America, Europe, Asia Pacific, and Rest of World
- Company profiles of the cellulose acetate market players and the growth strategies adopted by them to sustain in the fast-growing market
- Deep dive regional & country level analysis of the industry