Global Cellulose Acetate Market 2019-2023 | Product Development of Acetate Filter Tow to Boost Growth | Technavio

LONDON--()--The global cellulose acetate market is expected to post a CAGR of over 3% during the period 2019-2023, according to the latest market research report by Technavio.

Owing to its excellent comfort and strength and silky luster, cellulose acetate is largely used in the production of textile fibers. In addition, it offers heat resistance and hygroscopicity to textiles. Furthermore, they are used in upholstery as a substitute for silk owing to their fine and coarse structure, soft glow, and elasticity. The emergence of India and China as the manufacturing hub for textiles in APAC is one of the major factors expected to drive the adoption of cellulose acetate during the forecast period. Also, capacity expansions by textile vendors in APAC have contributed to the textiles market growth in APAC. Thus, the growing use of cellulose acetate fiber for the production of various textiles products, including apparels, is expected to drive market growth during the forecast period.

As per Technavio, the product development of acetate filter tow will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global cellulose acetate market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Global cellulose acetate market: Product development of acetate filter tow

The cellulose acetate filter tow market is witnessing a significant rise in innovation and product development. Companies in the market are increasingly focusing on developing new products with improved performance and durability. Moreover, there is a growing preference for eco-friendly acetate filter tow with enhanced biodegradability. Vendors are also launching regulated products that encompass complex and challenging regulatory frameworks. Such product developments are expected to fuel the global cellulose acetate market growth during the next five years.

“Apart from product development of acetate filter tow, some other major factors that are expected to boost market growth during the forecast period are growing demand of cellulose acetate for additive manufacturing, innovation and product development in cigarette industry, and increase in demand for glass fibers from developing countries,” says a senior analyst at Technavio.

Global cellulose acetate market: Segmentation analysis

This market research report segments the global cellulose acetate market by type (fiber and plastics), application (filtration, electronics, textile and consumer goods, packaging, water treatment, and other applications) and geography (APAC, North America, Europe, MEA, and South America).

Geographically, APAC was the largest geographical segment of the cellulose acetate market in 2018 and is expected to be the fastest growing region during the forecast period. The growth of cellulose acetate market in APAC is mainly driven by the expansion of the textile industry in the region. Apart from this, the growing consumption of cigarette in India, China, and Indonesia is further expected to fuel the cellulose acetate market worth in APAC during the forecast period.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com

Release Summary

The global cellulose acetate market is expected to post a CAGR of over 3% during the period 2019-2023, according to Technavio.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com