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Increasing demand for the Cellulose Acetate Fiber selling through online sales channels are high investments in R&D of the Cellulose Acetate Fiber market
NEW YORK CITY, NY, UNITED STATES, February 5, 2022 /EINPresswire.com / -- The Global Cellulose Acetate Fiber Market is forecast to reach USD 4,627.8 Million by 2028, according to a new report by Reports and Data. Cellulose acetate fiber is a type of manufactured synthetic fiber from cellulose source. The substance derived directly from cellulose acetate in which at least 92% of the hydroxyl groups are acetylated, is called triacetate or triacetate cellulose or primary acetate cellulose. The triacetate is further hydrolyzed to form the secondary acetate or diacetate, contains only about 76 percent acetylated cellulose groups. The diacetate fiber is officially known as regular acetate or acetate, while the triacetate cellulose fiber is called triacetate or the secondary acetate. The continuous expansion of cigarette filters, synthetic fiber, membrane filters, acetate fiber-based inner-garments, easy-case garments, less-shrinking clothes, and dye applications are expected to drive the demand throughout the forecast period primarily.
The Asia Pacific region is expected to retain its dominance in the global market. The market is North America is growing at apace due to the extensive use of Cellulose Acetate Fiber in various end-use sectors. China and India are some of the fastest-growing markets in the world, and the United States and China hold some of the most prominent players in the market.
Key participants include Celanese Corporation, Eastman Chemical Company, DuPont de Nemours, Inc., Mitsubishi Rayon, China National Tobacco Corporation, Daicel Corporation, Acordis Cellulosic Fibers, Inc., Rayonier Advanced Materials, Solvay S.A., and Rayonier Advanced Materials, among others.
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Further key findings from the report suggest
Rising interest for cellulose acetate fibers owing to increasing demand for eco-friendly, cost-efficient, biodegradable, and versatile cellulose acetate, is the one of the prime factors expected to fuel the market for cellulose acetate globally in the forecast period.
Growing penetration of the online retailing businesses for the chemicals and materials, especially in the emerging nations in the Asia Pacific, is helping the market grow by broadening the outreach in the areas where the offline vendors are unavailable. Also, due to the non-involvement of the distributors in the supply chain model, the profit margin is way more than that of the offline retailing distribution channel. The online retailing is expected to gain a market share of 26.2% by 2028.
Cellulose acetate fibers possess superior properties, over other types, including high impact and mechanical strength, high transparency, and good resistance to a variety of chemicals. Along with that, the demand is supported by easy availability and wide acceptability of the product in various end-use industries.
North America is forecast to witness significant growth in the overall market due to its increasing demand for cellulose acetate fiber in women inner garments & lingerie and cigarette filters, having grown at a CAGR of 7.6% during the forecast period. US possesses the highest market share in this region and some of the vital players of the market.
In January 2017, Eastman Chemical Company, a US based chemical processing & manufacturing company, launched new acetate fiber brand for their product line-ups. Earlier Eastman was a maker of cellulose acetate fiber for the draperies & bedspreads. The new launch of the brand of cellulose acetate filament fiber is intended to be used in the production of women's intimate apparel. The fiber is sourced from wood pulp, which is derived exclusively from the sustainably managed and certified forests.
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For the purpose of this report, Reports and Data have segmented the global Cellulose Acetate Fiber Market on the basis of the application, sales channel, production, end-use verticals, and region:
Type Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2020-2028)
Acetate
Triacetate
Sales Channel Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2020-2028)
Online Retailing
Offline Retailing
Processing Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2020-2028)
Acetylation & Hydrolysis
Dry Spinning Method
End-Use Verticals Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2020-2028)
Cigarette Filters
Textile & Apparel
Membrane Filters
Pigment & Dye
Others
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Regional Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2020-2028)
North America
Europe
Asia Pacific
MEA
Latin America
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