The new report by Expert Market Research titled,‘Global Cellulose Acetate Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026’, gives an in-depth analysis of the global cellulose acetate market, assessing the market based on its applications and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
• Historical Market Size (2020): USD 4.1 Billion
• Forecast CAGR (2021-2026): 3%
• Forecast Market Size (2026): USD 4.9 Billion
The growth in the global cellulose acetate market is induced by surging demand from the apparel and textile industry. The evolving fashion trends are also supporting the fast-growing global cellulose acetate market. Cellulose acetate is thought to be suitable for textile applications because it is both comfortable and absorbent, and it can be easily dyed in a wide range of colors. Cellulose acetate, a natural plastic, has a growing demand due to its properties such as high longevity, glinted shine, iridescent texture, and transparency. Its characteristics like environmental friendliness, biodegradability, cost-effectiveness, and versatility also contribute to the market demand.
Industry Definition and Major Segments
Cellulose acetate is a natural plastic made from naturally purified cellulose. Natural cellulose, when reacted with acetate anhydride, produces natural plastic cellulose acetate, which is flake-like and then ground to a fine powder.
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Based on application, the market is divided into:
On the basis of region, the market is divided into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Rising industrialization is anticipated to be the growth driver for the cellulose acetate market. Advanced technologies and growing adoption of cellulose acetate in application domains in emerging markets are expected to propel the industry forward and benefit the industry players. The key driver of the expansion is the rising consumption of cigarettes around the world. However, a surge in public health awareness about the risks associated with smoking could be a massive market constraint. Furthermore, the implementation of regulations by the government prohibiting public smoking in countries like Russia and China, along with penetration of alternative options such as e-cigarettes into the market, are anticipated to hamper the industry’s growth opportunities.
Key Market Players
The major players in the market are Celanese Corporation, Daicel Corporation, Eastman Chemical Company, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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