HOME Research Insight New Product Launch was the Key Strategy Adopted by the Major Players to Achieve Growth in the Cellulose Acetate Market Between 2012 and 2017



New Product Launch was the Key Strategy Adopted by the Major Players to Achieve Growth in the Cellulose Acetate Market Between 2012 and 2017


The global cellulose acetate market is estimated at USD 3.81 Billion in 2017 and is projected to reach USD 4.87 Billion by 2022, at a CAGR of 5.07% between 2017 and 2022. Asia Pacific is the largest consumer of cellulose acetate. The rising number of cigarette smokers and rapidly growing exports of cigarettes from China are likely to be important drivers for the cellulose acetate market during the forecast period.

New product launch was the key strategy adopted by the major players to achieve growth in the cellulose acetate market between 2012 and 2017. This strategy accounted for a share of 51% of all growth strategies adopted by key market players. Companies adopted this strategy to provide improved products and develop cellulose acetate for use across new applications. Celanese (US), Mitsubishi Chemicals (Japan), China Tobacco Corporation (China), Daicel (Japan), and Eastman Chemical Company (US) are some of the leading players that adopted this strategy between 2010 and 2016.

Besides new product launch, companies adopted other strategies such as mergers & acquisitions; investments & expansions; and partnerships, contracts, & agreements to increase their share in the cellulose acetate market.

New Product Launch:

In May 2017, Eastman launched engineering bioplastic product TREVA; it is composed of cellulose sourced from trees derived exclusively from sustainably managed forests.

In January 2017, Eastman launched its cellulose technology-based product named Eastman Naia cellulosic yarn. This product has enhanced the product line of Eastman in the cellulosic ether category.

Acquisitions:

In June 2017, Celanese formed a joint venture with Blackstone to create a global acetate tow supplier. According to the agreement, Celanese will own 70% of the joint venture while Blackstone will own the remaining 30%.

Expansions:

In June 2016, Solvay completed the purchase of Eastman Chemical Company’s share in their former US joint venture Primester. With this, Solvay secured the most economical long-term supply for its own tow businesses while adapting capacity to demand.

Related Reports:

Cellulose Acetate Market by Type (Fiber, and Plastic) Application (Cigarette Filters, Textiles & Apparel, Photographic Films, Tapes & Labels), Region (North America, Europe, APAC, Middle East & Africa, South America) - Global Forecast to 2022

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