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

LONDON--(BUSINESS WIRE)--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 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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Publication date: 02/07/2019

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This project has received funding from the Bio Based Industries Joint Undertaking under the European Union’s Horizon 2020 research and innovation programme under grant agreement No 837761.