(MENAFN- GlobeNewsWire - Nasdaq) Wilmington, Delaware, Sept. 25, 2023 (GLOBE NEWSWIRE) -- Global Acetate Tow Market was valued at US$ 5.3 billion in 2023 and is expected to grow at a significant CAGR of over 5.8% over the forecast period of 2023-2030, according to the latest market report by RationalStat
Market Definition, Market Scope, and Report Overview
Acetate tow is a fibrous substance composed of cellulose acetate, a synthetic polymer manufactured from wood pulp or cotton liners. It is widely employed in a variety of industrial applications, the most prevalent of which is the fabrication of cigarette filters.
The tobacco industry's ongoing demand for cigarette filters is the key driver of the acetate tow market. As health and environmental concerns remain, cigarette producers aim to increase the filtration properties of filters, necessitating the use of specialized materials such as acetate tow. Growing public knowledge of the health concerns linked with smoking has resulted in stricter prohibitions in several nations. Cigarette producers are under pressure to develop filters that can lower toxic elements in tobacco smoke, which is helping the acetate tow industry grow.
According to a deep-dive market assessment by RationalStat, the global acetate tow market has been analyzed on the basis of market segments, including type, application and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific) . The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030. Market intelligence for the global acetate tow market covers market sizes on the basis of market value (US$/EUR Million) and volume (Tons) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc. In addition, the long-term sector and products/services 10-year outlook and its implications on the global acetate tow market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Acetate Tow Market: Segmental and Market Share Analysis
On the basis of application, cigarette filters accounted for the largest market share approximately 80% of the global acetate tow market. This segment is anticipated to continue being the major consumer of this market.
| Report Metrics || Details |
| Base Year || 2022 |
| Forecast Period || 2023-2030 |
| Base Year Market Size || US$ 5.3 billion |
| Market Size Forecast || US$ 7.9 billion |
| Growth Rate || 5.8% |
| Key Market Drivers || |
Increasing demand from the tobacco industry Increasing awareness of the health risks
| Companies Profiled || |
Eastman Celanese Daicel Solvay Nantong Cellulose Zhuhai Cellulose Kunming Cellulose
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Competition Analysis and Market Structure
By 2023, Asia Pacific is expected to have a majority share of the acetate tow market, followed by Europe and North America. Although markets in Europe and North America have attained maturity, Asia Pacific is likely to drive growth in the worldwide acetate tow market due to increased consumption in this region. Latin America and the Middle East and Africa are likely to be emerging markets by the end of 2023 as their economies improve.
Some of the prominent players and suppliers operating and contributing significantly to the global acetate tow market growth include Eastman, Celanese, Daicel, Solvay, Nantong Cellulose, Zhuhai Cellulose, and Kunming Cellulose, among others.
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RationalStat has segmented the global acetate tow market based on type, application and region
Global Acetate Tow Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Type
Spinning Grade Plastic Grade Others Global Acetate Tow Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Application
Cigarette Filters Industrial Consumer Goods Global Acetate Tow Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Region
North America Acetate Tow Market Latin America Acetate Tow Market
Brazil Mexico Rest of Latin America Western Europe Acetate Tow Market
Germany UK France Spain Italy Benelux Nordic Rest of Western Europe Eastern Europe Acetate Tow Market
Russia Poland Hungary Other CIS Countries Rest of Eastern Europe Asia Pacific Acetate Tow Market
China Japan India South Korea Australia ASEAN Middle East & Africa Acetate Tow Market
Indonesia Thailand Philippines Vietnam Malaysia Rest of ASEAN Rest of Asia Pacific
Saudi Arabia (KSA) United Arab Emirates (UAE) Rest of the GCC South Africa Nigeria Turkey Rest of the Middle East & Africa
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Key Questions Answered in the Acetate Tow Report:
What will be the market value of the global acetate tow market by 2030? What is the market size of the global acetate tow market? What are the market drivers of the global acetate tow market? What are the key trends in the global acetate tow market? Which is the leading region in the global acetate tow market? What are the major companies operating in the global acetate tow market? What are the market shares by key segments in the global acetate tow market?
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