The report "Cellulose Acetate Market by Type (Fiber, Plastic), Application (Cigarette Filters, Textiles & Apparel, Photographic Films, Tapes & Labels), and Region (North America, Europe, APAC, MEA, & South America) - Global Forecast to 2026" The cellulose acetate market size is projected to reach USD 6.3 billion by 2026, at a CAGR of 4.7%, during the forecast period. Owing to an increase in number of smokers, particularly in emerging nations such as China and India, the cellulose acetate market is expected to witness significant growth during the forecast period. In addition to this, the growing demand in textiles and apparels, increasing usage in home furnishing products and rising application as a biodegradable plastic in various other industries is also propelling the growth of the market. However, the outbreak of COVID-19 has created ripples in various end-use industries, leading to reduced demand for cellulose acetate. Due to the lockdown scenario in Europe and North America, the demand for cellulose acetate from cigarette manufacturing, and textiles & apparel have declined sharply in the first quarter of 2020.
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Fiber-based cellulose acetate type to have the largest market share in the cellulose acetate market during the forecast period.