Acetate is an artificial fibre made from cellulose from various natural sources such as wood, cotton, and plants. The fibres are broken down by acetic anhydride or acetyl chloride along with other chemicals, resulting in cellulose acetate, which is used to create acetate materials.
Acetate is a soft fabric with a silky appearance which can make it a popular replacement for real silk. Acetate materials absorb colour well, and we can dye it in different shades with deep and strong colours.
Acetate requires careful handling, so dry cleaning is recommended when laundering. The material tends to shrink. The fabric is heat-sensitive and cannot withstand chemicals such as acetone, which would dissolve the fibre.
Source
Good On You – Material Guide: What Is Acetate, and Is It a Lower-Impact Material? 
December 2023, TÄNKOM | Revised May 2024 RETHINK
