The global market for Cellulose Acetate is projected to decline to 751.1 thousand metric tons by 2024, saddled by falling sales of cigarettes, which represents the largest end-use market. Few of the factors driving the decline in cigarette sales worldwide include growing awareness over the importance of healthy lifestyle habits; stringent legal crackdown on marketing of cigarettes; and widespread shift to the use of alternatives such as e-cigarettes, nicotine patches and gum. In a bid to maintain profitability in a declining market, manufacturer focus on innovation is growing stronger. Few of the innovations in the market include novel filter designs such as longer filters; multi-segment filters; and favor enriched capsule filters. Another interesting innovation is the use of active carbon to reduce the toxins in cigarette smoke while simultaneously preserving the flavor of nicotine. Excluding the cigarette end-use market, pockets of growth exists in applications such as film & sheet castings, molding & extrusion, surface coatings, ink reservoirs found in fiber-tip pens, specialty paper, bio-plastics, encapsulation, film, specialty fibers and adhesives. Asia-Pacific represents the largest market worldwide supported by the presence of countries with high cigarette smoking prevalence such as China and Indonesia, and large cigarette manufacturing base in China.
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