The cellulose acetate market share will post an incremental growth of USD 1.07 billion, progressing at a CAGR of 3.76% during the forecast period. The growth of the textile industry in APAC owing to its excellent comfort and strength and silky luster will offer immense growth opportunities to market vendors. The cellulose acetate market is concentrated, and the vendors are deploying growth strategies such as low-pricing strategies and strengthening the local customer base to compete in the market.
Technavio’s report on “Cellulose Acetate Market by Type, Application, and Geography - Forecast and Analysis 2021-2025” provides a detailed market analysis of the prevalent market forces, trends, and challenges that are likely to impact the market in focus.
The cellulose acetate market is segmented by type (fiber and plastics), application (filtration, electronics, textile and consumer goods, packaging, and others), and geography (APAC, North America, Europe, MEA, and South America).
The growth of the cellulose acetate market in the fiber segment will be significant during the forecast period. By geography, 57% of the market's growth will originate from APAC during the forecast period. China, Japan, and South Korea (Republic of Korea) are the key markets for cellulose acetate in APAC. The rapid expansion of the textile industry in emerging economies such as China and India will drive the cellulose acetate market growth in APAC over the forecast period.
The growth of the textile industry in APAC will directly influence the sales of cellulose acetate market. In addition, the product development of acetate filters tow is one of the major cellulose acetate market trends that will positively impact market growth. However, factors such as the (challenges) will hamper the cellulose acetate market growth.
Some of the major cellulose acetate market vendors are Borregaard ASA, Celanese Corp., Daicel Corp., Eastman Chemical Co., Merck and Co. Inc., Mitsubishi Chemical Holdings Corp., Rayonier Advanced Materials Inc., Rotuba Extruders, Sappi Ltd., and Solvay SA
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
Download the Free PDF sample report for highlights on the market size, growth momentum, regional growth opportunities, vendor analysis, and other factors influencing the growth of the market.
Precise market size estimation during the forecast period 2021-2025.
CAGR of the cellulose acetate market forecast during 2021-2025.
Market-level data on units, average selling prices, and values of the cellulose acetate market share.
Prediction on the upcoming trends, drivers, and factors that challenge the growth of the cellulose acetate market.
Cellulose acetate market industry growth across APAC, North America, Europe, MEA, and South America.
