Global Cellulose Acetate Market - 2023-2030

Global Cellulose Acetate Market - 2023-2030

The Global Cellulose Acetate Market reached US$ 4.78 billion in 2022 and is expected to reach US$ 7.75 billion by 2030 growing with a CAGR of 5.2% during the forecast period 2023-2030.

The major growth in the cellulose acetate market is due to increasing demand from various sectors named eyewear, textile, and cigarette filters. Cigarette filters are produced from cellulose acetate which is a synthetic material derived from cellulose. The synthetic nature of cellulose acetate and its degradation process leads to decreased environmental pollution caused by this material. Awareness towards the clean environment where cellulose acetate plays a major role due to these factors there is growth in the cellulose acetate market.

Asia Pacific experienced significant growth in the cellulose acetate market. Furthermore, countries such as China, Japan, and India also have equal contributions to the production and development, of cellulose acetate. For instance on, 3 April 2023, for the growth of the Green Sea Setouchi Hiroshima initiative, the trading company Kinki advnippon Tourist stepped in for reducing plastic waste and started using toothbrushes with handles made up of cellulose acetate which is derived from wood.

Market Dynamics

Driving the Cellulose Acetate Market through Cigarette Butt Recycling

Cigarette butts are a significant source of environmental pollution, and their decomposition releases cellulose acetate, a key component present in them. However, recycling cellulose acetate from these butts poses a considerable challenge due to the presence of toxic materials. Nonetheless, ongoing efforts are being made to develop recycling solutions for cigarette butts.

An exemplary project in this realm is CigCycle, initiated by an Australian charity on 16th March 2023. The primary objective of CigCycle is to address the cigarette butt issue through innovative means. This project employs fungi, utilizing the cellulose acetate present in the butts as a source of nutrition. The fungi effectively decompose the materials by breaking down toxic components, ultimately producing a clean by-product.

By implementing such innovative recycling approaches, the cellulose acetate market stands to benefit significantly. As these initiatives gain traction and demonstrate their efficacy in reducing environmental harm, they can drive the demand for cellulose acetate, contributing to a more sustainable and eco-friendly future.

Cellulose Acetate a Sustainable Solution to Plastic Pollution

Increasing awareness of plastic pollution and its impact on the environment has led to a growing demand for sustainable alternatives. Cellulose acetate derived from renewable sources and biodegradable addresses these concerns and provides a viable solution to reduce plastic waste. These factors boost the growth of the cellulose acetate market.

In 2023, Filtrona launched its plastic-free innovation, ECO Tube Triple Carbon Filter. The ECO Tube Triple Carbon Filter complies with the EU Single Use Plastics Directive and makes it biodegradable. Internal studies indicate that it achieves 90 percent biodegradation within just 90 days.

Lower Heat Resistance and High Production Cost

The limitation of lower heat resistance in cellulose acetate restricts its application in scenarios involving high temperatures or thermal processing. When subjected to changes in temperatures cellulose acetate may start to soften or deform which affects its structural integrity and performance. As a result, it is not suitable for applications where exposure to heat is a significant factor.

The production of cellulose acetate involves specific resources and processing methods that can impact its cost and availability in the market. Compared to conventional plastics, cellulose acetate may sometimes be more expensive to produce, which can limit its widespread adoption in certain applications.

COVID-19 Impact Analysis

During COVID consumers main focus is on health and hygiene. This increases the demand of personal protective equipment (PPE). Cellulose acetate-based materials, particularly in the form of non-woven fabrics are used. The production of masks and gloves increases the demand for these materials.

This pandemic causes shifts in consumer behavior and preferences. For example, there is a decrease in the demand for cigarette filters which reduces smoking. This directly impacts the cellulose acetate market as cigarette filters are a significant application of the material. Many industries faced a decline in demand during the pandemic due to economic uncertainties, reduced consumer spending, and restrictions on non-essential goods

Russia-Ukraine War Impact

Due to the Russia-Ukraine war, the supply of raw materials such as wood pulp got affected. It also impacted the export and import business of cellulose acetate products which affected the growth of cellulose acetate. Shortage of these products results in fluctuating prices and delays. Due to these factors, there is a downfall in the growth of the cellulose acetate market.

The Russia-Ukraine war affects many regions. Due to this crisis, investors and businesses don’t commit to long-term investments in such regions. Companies working in this region face many difficulties to fulfill customer demand. Due to the war market phases geopolitical issues which slow downs the growth and production of the cellulose acetate materials.

Segment Analysis

The global cellulose acetate is segmented based on type, product, chemistry, application, and region.

Cellulose Acetate Filament a Sustainable Solution for 3D Printing Materials

Cellulose acetate filament is a type of filament used in 3D printing materials made up of cellulose acetate filament. This acetate is derived from wood pulp and cotton fibers. Cellulose acetate filament offers eco-friendly alternative solutions when compared to traditional petroleum-based plastics which are commonly used in 3D printing. Due to its extrusion and printing properties that allow a smooth 3D printing process.

In 2023, Cellulose acetate is being utilized as a sustainable and eco-friendly material in 3D printing, particularly in the production of furniture showcased at Salone del Mobile 2023 in Milano. ExtraBold Co., Ltd., a Japanese manufacturer of large format extrusion 3D printing systems collaborated with design lab honoka to create the tatami refab project. The process included mixing biodegradable resin specifically cellulose acetate with the raw material from discarded Tatami mats.

Geographical Penetration

Asia-Pacific Witnesses Significant Growth in Cellulose Acetate Market

Asia-Pacific is analyzed to witness fastest growth cellulose acetate market. Countries like China, Japan, and India has the highest production growth rate of cellulose acetate which is due to the increase in population, which further increases the plastic waste that made the consumption of more cellulose acetate in the region.

For instance, on 3 Feb 2020, Eastman launched the sustainable source Naia a new staple fiber that provides expansion in the fashion industry. This fiber is versatile in nature and it’s an eco-friendly material. The raw material used in the production of Naia fiber comes from pine and eucalyptus forests and plantations. The company follows guidelines and standards for forestry supply chain management systems. For the creation of Naia, Eastman collaborates with many different companies globally.

Competitive Landscape

The major global players in the market include Eastman Chemical Company, Daicel Corporation, Celanese Corporation, Mitsubishi Chemical Holdings Corporation, Sappi Ltd, Rayonier Advanced Materials, Inc, China National Tobacco Corporation, Sichuan Push Acetati Co Ltd, Cerdia International GmbH.

Why Purchase the Report?
• To visualize the global cellulose acetate market segmented based on type, product, chemistry, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of cellulose acetate market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key product of all the major players.

The global cellulose acetate market report would provide approximately 69 tables, 70 figures, and 195 Pages

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies