Cellulose Fiber Market Overview to 2023:
The global cellulose fiber market has been growing rapidly mainly due to the increase in demand for textile industry, worldwide. The demand for cellulose fibers in the textiles industry is increasing day by day led by the ever-increasing population. The growth of the apparel industry is favorably impacting the growth of cellulose fiber market, globally.
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Acknowledging the exponential traction, this market perceives today, Market Research Future (MRFR) in its recently published study report asserts that the global cellulose fiber market will reach USD 37,284 MN by 2023, registering a phenomenal CAGR over the forecast period (2017-2023).
Rising demand in the apparels industry driven by the growing online fashion market fosters the growth of the cellulose fiber market. The development in cellulose fiber in terms of products quality and services are driving the market growth. Additional factors substantiating market growth include new technologies and favorable government regulations.
On the other hand, factors such as the volatility in the prices and the demand and supply gap in the raw materials required for the production of cellulose fiber are expected to impede the growth of the market. Nevertheless, heavy investments made in the development of products and technologies by the major manufacturers will support the market growth throughout the assessment period.
Global Key Players:
Sateri Holdings Limited
Grasim Industries Limited
Tangshan Sanyou Xingda Chemical Fiber Co., Lt
Eastman Chemical Company
Industry/ Innovation/ Related News:
February 04, 2019 ---– A group of scientists at the Singapore University of Technology and Design published their research report on the low-cost, low-pollution technology that they have developed a process for printing objects using cellulose, in the magazine – Nature. This technology will offer a cheap, biodegradable and renewable alternative to plastic.
Their process involves the mixing of small amounts of chitin with the cellulose fibers. The result is a strong, lightweight and inexpensive material called FLAM (fungus-like adhesive material). The researchers are now seeking industrial collaborators.
November 12, 2018 ---– Celanese Corporation (the US), a leading global manufacturer of industrial chemicals and acetyl products and International Paper (the US), one of the world’s largest paper & pulp company announced receiving of the Environmental Award for Sustainable Materials in Automotive from the Society of Plastics Engineers (SPE) in Automotive.
The duo companies have jointly developed sustainable thermoplastics for an application in the Ford Motor Company’s 2018 Lincoln Continental luxury sedan. The Society of Plastics Engineers (SPE) in Automotive has recognized the joint development and conferred the award to Celanese Corporation, and International Paper adjudged as the best companies in automotive plastics.
Cellulose Fiber Market – Segmentations
For enhanced understanding, the report has been segmented into three key dynamics.
By Type: Natural and Synthetic
By Application: Apparels, Domestic Textile, and Industrial Textile among others.
By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World
Global Cellulose Fiber Market – Geographical Analysis
The Asia Pacific region, heading with the new applications of Cellulose Fibers Market such as in the automotive plastic, dominates the cellulose fibers market, globally. With the ample availability of natural resources and cost-competitive raw materials and workforce, the Asia Pacific region attracts foreign investors encouraging them to shift their production bases to the emerging countries such as India and China.
Owing to the dynamic sale in apparels led by the exponentially growing online fashion market in the region, the APAC cellulose fibers market is expected to reach USD 13,553 MN by 2023. China, heading with its large textile production accounts for the largest market for cellulose fibers in the region which is projected to grow at the highest CAGR of 5.98% during the forecast period. Whereas, Japan is projected to grow at a CAGR of 5.15% during 2017-2023. Besides, countries such as Taiwan, South Korea, and India are the dominant forces contributing to the regional market, supporting it to hold the leading position.
North America’s cellulose fibers market led by the huge consumption of the product in the region, closely follows the APAC market.
The European market for cellulose fibers accounts for the third largest market owing to the growing applications of these fibers.
Global Cellulose Fiber Market – Competitive Landscape
Highly competitive, the global cellulose fiber market enjoys the presence of many large and small players which makes the market to appear fragmented. Cellulose fiber market is no exception when it comes to adopting strategic trends, to sustain in their market position and to drive the market.
Key players operating in the market adopt the same prevailing strategic initiatives such as merger & acquisition or strategic collaboration and investing in local manufacturers in emerging economies for product developments and manufacturing activities. These players driving market growth are committed to delivering reliable, leading-edge products & services.
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