Market Size of Asia Pacific Cellulose Acetate Industry
![Asia Pacific Cellulose Acetate Market Summary](https://s3.mordorintelligence.com/asia-pacific-cellulose-acetate-market/1692272725318_asia-pacific-cellulose-acetate-market_Market_Summary.webp)
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 3.65 % |
Market Concentration | High |
Major Players![]() *Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Asia Pacific Cellulose Acetate Market Analysis
The Asia-Pacific cellulose acetate market is estimated to reach 393.09 kilotons by the end of this year and is projected to reach 470.26 kilotons in the next five years, registering a CAGR of 3.65% during the forecast period.
The market was negatively impacted by COVID-19 due to nationwide lockdowns in several countries in the region, which led to supply chain disruptions. Production declined as several responsible factories were shut down during the pandemic. However, the market started recovering and returning to pre-COVID levels in 2021.
- Growing demand for cellulose acetate from the textile industry and high tobacco usage in some countries are the major driving factors that stimulate market demand.
- However, the market's growth is hindered by stringent government regulations on tobacco usage along with the declining demand for cellulose acetate in photographic films.
- Increasing the use of cellulose acetate for water treatment due to the low cost of these membranes, biodegradability, and non-toxicity are likely to create opportunities in the Asia-Pacific region over the coming years.
- China is expected to dominate the Asia-Pacifc cellulose acetate market as it is the largest manufacturer of cigarettes and the largest exporter of textiles in the world.
Asia Pacific Cellulose Acetate Industry Segmentation
Cellulose Acetate is a biodegradable polymer obtained by the acetylation of cellulose. There has been no direct production process for the production of cellulose acetate to date. Cellulose acetate is manufactured using a two-step synthesis process.
The Asia-Pacific Cellulose Acetate market is segmented by type, application, and geography. By type, the market is segmented into fiber and plastics. By application, the market is segmented into cigarette filters, photographic films, plastics, textiles, and other applications (cosmetics, healthcare, etc.). The report also covers the market size and forecasts for the cellulose acetate market across 5 countries in the Asia-Pacific region. For each segment, the market sizing and forecasts have been done based on volume (tons).
Type | |
Fiber | |
Plastics |
Application | |
Cigarette Filters | |
Photographic Films | |
Plastics | |
Textiles | |
Other Applications (Cosmetics, Healthcare, etc.) |
Geography | |
China | |
India | |
Japan | |
South Korea | |
ASEAN Countries | |
Rest of Asia-Pacific |
Asia Pacific Cellulose Acetate Market Size Summary
The Asia-Pacific cellulose acetate market is experiencing a gradual recovery and growth trajectory following the disruptions caused by the COVID-19 pandemic. The market is driven by increasing demand from the textile industry and high tobacco consumption in certain countries, particularly China, which is a major player in both sectors. The textile industry utilizes cellulose acetate fibers for a variety of applications, including clothing and home décor, while the tobacco industry relies on cellulose acetate for cigarette filters. Despite the positive growth prospects, the market faces challenges from stringent government regulations on tobacco use and a decline in demand for cellulose acetate in photographic films. However, opportunities are emerging in the water treatment sector due to the material's cost-effectiveness, biodegradability, and non-toxicity.
China's dominance in the Asia-Pacific cellulose acetate market is supported by its status as the largest manufacturer of cigarettes and exporter of textiles globally. The country's robust production and consumption of tobacco, along with its significant textile exports, contribute to the substantial demand for cellulose acetate. Additionally, China's investments in the plastic industry and the establishment of new manufacturing facilities, such as BASF SE's engineering plastic compounds plant, further bolster the market. India also plays a significant role in the textile sector, benefiting from government support and abundant raw materials. The market is consolidated, with key players like Sichuan Push Cellulose Acetate Co., Ltd., Daicel Corporation, RYAM, Eastman Chemical Company, and China National Tobacco Corporation leading the industry.
Asia Pacific Cellulose Acetate Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Market Drivers
-
1.1.1 Growing Demand from Textiles Industry
-
1.1.2 Growing Consumption of Tobacco Products
-
1.1.3 Other Drivers
-
-
1.2 Market Restraints
-
1.2.1 Stringent Government Regulations Regarding Tobacco Usage
-
1.2.2 Declining Demand for Photographic Films
-
-
1.3 Industry Value Chain Analysis
-
1.4 Porter's Five Forces Analysis
-
1.4.1 Threat of New Entrants
-
1.4.2 Bargaining Power of Buyers
-
1.4.3 Bargaining Power of Suppliers
-
1.4.4 Threat of Substitute Products
-
1.4.5 Degree of Competition
-
-
-
2. MARKET SEGMENTATION (Market Size in Volume)
-
2.1 Type
-
2.1.1 Fiber
-
2.1.2 Plastics
-
-
2.2 Application
-
2.2.1 Cigarette Filters
-
2.2.2 Photographic Films
-
2.2.3 Plastics
-
2.2.4 Textiles
-
2.2.5 Other Applications (Cosmetics, Healthcare, etc.)
-
-
2.3 Geography
-
2.3.1 China
-
2.3.2 India
-
2.3.3 Japan
-
2.3.4 South Korea
-
2.3.5 ASEAN Countries
-
2.3.6 Rest of Asia-Pacific
-
-
Asia Pacific Cellulose Acetate Market Size FAQs
What is the current Asia Pacific Cellulose Acetate Market size?
The Asia Pacific Cellulose Acetate Market is projected to register a CAGR of 3.65% during the forecast period (2024-2029)
Who are the key players in Asia Pacific Cellulose Acetate Market?
Sichuan Push Cellulose Acetate Co., Ltd., Daicel Corporation, RYAM, Eastman Chemical Company and China National Tobacco Corporation are the major companies operating in the Asia Pacific Cellulose Acetate Market.