The major growth drivers identified in the cellulose acetate market are the rise in demand for cellulose acetate, growth in emerging economies, and technological advancements in various applications. The rise in demand of the natural plastic due to its properties including good toughness, glossy shine, lustrous texture, and high transparency is expected to drive the market growth in the coming years.
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Increasing awareness regarding the health issues related to smoking is expected to pose as a main restraint in the cellulose acetate market growth. Also, with the implementation of governmental regulations to ban public smoking in countries such as China and Russia as well as presence of alternatives such as electronic cigarettes in the market, is expected to hinder the growth potential of the market.
Rising industrialization is expected to provide huge growth opportunity to industry players operating in the cellulose acetate market. This is owing to the fact that rising industrialization will increase the demand of the product in the market for various applications, which will push the manufacturers to produce product in large quantity, and thereby creating opportunities.
APAC cellulose acetate market held the largest share in the globally and is expected to register the fastest growth during the forecast period. This can be attributed to the rising industrialization, high economic growth, rise in manufacturing industries, expanding textile industry, cheap labor availability, and the shift in production base from developed countries to emerging countries.
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Some of the major players operating in the global cellulose acetate market are Eastman Chemical Company, Celanese Corporation, Daicel Corporation, Acordis Cellulostic Fibers Inc, Sappi limited, Rayonier Advanced Materials, Borregaard, Rotuba, Rhodia Acetow GmbH, and Primester.
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About P&S Market Research
P&S Intelligence, a brand of P&S Market Research, is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world.
Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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