WASHINGTON, March 10, 2022 (GLOBE NEWSWIRE) -- The Global Cellulose Acetate Fiber Market size is expected to reach over USD 7.0 Billion by 2028. The Market stood at a revenue of USD 4.9 Billion and is expected to exhibit a Compound Annual Growth Rate (CAGR) of 4.6% during the forecast period.
Market Synopsis
Cellulose Acetate Fiber are used widely in furnishings and home bedding as well as in women apparels. Furnishings & home bedding such as upholstery, carpets, linen, bedspreads, curtains, others are produced with the use of these Fibres. Additionally, these Fibres gives luxurious appearance and feel to the home fashion items and can also be obtained in a range of sheens and colours. Excellent softness and drapability are also major features of these Fibres owing to which these are being used in draperies, states Vantage Market Research, in a report, titled “Cellulose acetate fiber Market by Type (Fiber, Plastics), by Application (Cigarette Filters, Textiles & Apparel, Photographic Films, Tapes & Labels), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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List Of Prominent Players in the Cellulose Acetate Fiber Market:
- Eastman Chemical Company
- Solvay
- Celanese Corporation
- China National Tobacco Corporation
- Daicel Corporation
- Acordis Cellulostic Fibers
- Mitsubishi Chemical Holdings Corporation
- Sichuan Push Acetati Co., Ltd.
- Rayonier Advanced Materials
- Sappi limited
Market Dynamics:
Driver: Rising Demand Apparels and Textiles Industry
The shifting trends in the fashion sector are preferably one of the key factors which are responsible for the development of the Cellulose Acetate Fiber Market globally. Cellulose acetate is treated to be appropriate for application in textile as it is absorbent and comfortable and can also be easily dyed in several different colours. Hence, rise in clothing sector demand owing to changes in choices of the consumers to keep them upgraded and trendy to the continuous fashion changes which has created a rise in demand and is also responsible for the healthy development of the apparel and textiles industry.
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Driver: Increasing Application as a Plastic Which is Biodegradable in Numerous Industries
The growing demand for biodegradable, eco-friendly, versatile, and cost-effective cellulose acetate is also likely to fuel the growth of the market. Cellulose acetate, which also is used as a natural plastic and that is anticipated to grow in the coming years due to its properties such as glistened shine, strong durability, high transparency, and lustrous texture. For instance, in Oct 2020, Celanese launched ‘Blueridge’, product line which can be used to build objects like straws which are broadly biodegradable and backyard compostable.
Regional Trends
Asia Pacific is likely to witness an upward growth for Cellulose Acetate Fiber Market during the forecasted period due to the growing demand from local markets in the region. Demand for the market for cellulose acetate is rising, particularly, in Latin America and APAC. The markets in these areas are likely to register huge development in corresponding to other regions.
Recent Developments
- Oct, 2020: Celanese Corporation launched a breakthrough cellulose-based material, BlueRidge Cellulosic Pellets which aligns with ESG and circular economy objectives with a product that is both, bio-based and broadly compostable.
- Feb, 2020: Eastman announced the expansion of its Naia fiber portfolio. With the introduction of its new cellulosic staple fiber, Naia offers another versatile, eco-conscious material choice for sustainable fashion.
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COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the Cellulose Acetate Fiber Market. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
The report on Cellulose Acetate Fiber Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Browse market data Tables and Figures spread through 190 Pages and in-depth TOC on "Cellulose Acetate Fiber Market by Type (Fiber, Plastics), by Application (Cigarette Filters, Textiles & Apparel, Photographic Films, Tapes & Labels), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here – https://www.vantagemarketresearch.com/press-release/cellulose-acetate-fiber-market-150801
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Cellulose Acetate Fiber Market?
- How will the Cellulose Acetate Fiber Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Cellulose Acetate Fiber Market?
- What is the Cellulose Acetate Fiber market drivers and restrictions?
- What will be the CAGR and size of the Cellulose Acetate Fiber Market throughout the forecast period?
This market titled “Cellulose Acetate Fiber Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Report Attribute | Details |
| Market Size in 2021 | USD 4.9 Billion |
| Projected Market Size in 2028 | USD 7.0 Billion |
| CAGR Growth Rate | CAGR of 4.6% From 2022 – 2028 |
| Base Year | 2021 |
| Historic Years | 2016 – 2020 |
| Forecast Years | 2022 – 2028 |
| Segments Covered | Type
|
| Quantitative Data - Units | Revenue in USD Million/Billion and CAGR from 2022 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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