Global Cellulose Acetate Derivatives Market is estimated to be over US$ 4,000.0 Mn in 2018.
Market Industry Reports (MIR) has published a new report titled “Cellulose Acetate Derivatives Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global cellulose acetate derivatives market is estimated to be over US$ 4,000.0 Mn in 2018.
The growth of the market can be attributed to increasing number of cigarette smokers globally and use cellulose acetate in cigarette manufacturing industry to make effective cigarette filters to reduce toxicants during smoking are factors propelling the growth of the market. Similarly, use of cellulose acetate in the packaging, textile & fabric industries adds to growth of the global cellulose acetate derivatives market. Similarly extensive research & development activities carried out by major companies & universities to introduce newer technologies in the manufacturing process of cellulose acetate that provide maximum safety and precision are expected to contribute to the market growth.
Cellulose acetate is widely used in the manufacturing of cigarettes to reduce toxicants in the smoke. Cellulose acetate as a filter material of choice provides excellent filtration properties with no change in taste of cigarette. Also it has a superior biodegradability profile which proves to be environmental friendly and simultaneously reduces environment pollution. Furthermore, according to CDC 34.3 million adults in the United States currently smoke cigarettes and the use of cellulose acetate for filters in cigarette manufacturing industry will reduce the smoking related disorders among smokers. This is expected to further boost the growth of the cellulose acetate market in the coming years.
Browse key industry insights spread across 210 pages with market data tables & figures & charts from the report, Global Cellulose Acetate Derivatives Market is estimated to be over US$ 4,000.0 Mn in 2018. in detail along with the table of contents:https://www.marketindustryreports.com/cellulose-acetate-derivatives-market/120
Cellulose acetate is derived from the acetylation of the plant substance cellulose. This cellulose acetate spun into textile fibers known as acetate rayon, acetate, or triacetate. Cellulose acetate molded in the form of solid plastic parts can be used for various purposes such as food wrapping, and handles among others. Technological advancement in the textile industry and rising demand of special cellulose acetate for the textiles & apparel is anticipated to further drive the market growth in the coming years. However, stringent government regulations, volatility in the prices of raw materials and rising awareness regarding risks factors associated with smoking are likely to restrain the growth of the market to a certain extent.
Asia Pacific is estimated to account for the highest CAGR in cellulose acetate derivatives market during the forecast period. Increasing demand of coatings, extrusion & moldings, textiles & apparel, photographic films, tapes & labels and cigarette filters are expected to support the growth of the Asia Pacific cellulose acetate market. Countries such as China, Japan, and India are expected to be the major markets for cellulose acetate in Asia Pacific region, with China estimated to account for the largest market in terms of consumption. Similarly, emergence of biodegradable plastics, viz. cellulose acetate as a better alternative than conventional products is expected to contribute effectively to the growth of the North America and European market in the coming years.
With the presence of prominent players, the global cellulose acetate derivatives market is moderately fragmented, few of the manufacturers are Eastman Chemical Company, Celanese Corporation, Daicel Corporation, Sichuan Push AcetatiCo, Ltd., and Mitsubishi Chemical Corporation among others.
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