Market Scenario
The global Cellulose Fiber Market is predicted to demonstrate a stellar CAGR during the forecast period (2017-2023) owing to the increasing demand for textile industry, asserts Market Research Future (MRFR). It can touch a valuation of USD 37,284 million by 2023. Cellulose fibers are generally made up of ether or esters of the cellulose. They are obtained from the wood or the bark, leaves of plants, or any other plant-based material. These fibers are referred to as a compound of hemicelluloses and lignin. Some comprise varying percentages of these compounds that are responsible for mechanical properties. Clothing in the textile industry is the major application of the cellulose fibers. Cellulose fibers are also used in several applications such as chemical filter, fiber reinforcement composite, polymer composites, and bio composites.
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Competitive Dashboard
The major players operating in the global Cellulose Fiber Market are Sateri Holdings Limited, Grasim Industries Limited, Kelheim Fibres, Lenzing AG, Eastman Chemical Company, Tangshan Sanyou Xingda Chemical Fiber Co. Ltd, and International Paper.
Drivers and Constraints Impacting the Market
With the increasing global population, the need for demand for textile industry is growing which is augmenting the Cellulose Fiber Market size. As cellulose fibers are skin-friendly, environment-friendly, and biodegradable in nature, the market is likely to foster in the coming years. Significant consumption from the textile industry owing to its benefits is anticipated to fuel the market growth in the coming years. With the augmenting demand for body adjustable, environmental-friendly, and bio-degradable clothing and fabrics from the textile industry, a healthy growth has been identified in the global Cellulose Fiber Market. Moreover, with the rising disposable income levels of the middle-class population, the market is considered to flourish. Wood pulp being one of the key raw materials used in the production of cellulose fibers, influences the market to a great extent. With increasing global warming across the world, the demand for biodegradable cellulose fiber has increased, further contributing to the market growth. Moreover, the proliferation of new market entrants may enhance the global Cellulose Fiber Market positively.
On the flip side, strict government initiatives for the protection of existing forests is considered to slowdown the global growth to a certain extent. Additionally, cost of cellulose fibers has been a major factor restraining the market growth as the prices of raw materials required to manufacture cellulose fibers are dynamic and changes continuously, thereby affecting the market growth. Moreover, lack of skilled people along with advanced machinery required in production are hindering the market growth.
Global Cellulose Fiber Market: Segmental Analysis
The global Cellulose Fiber Market has been segmented on the basis of type, application, and region.
By mode of type, the global Cellulose Fiber Market has been segmented into synthetic and natural. Among these, the natural cellulose fiber occupied the largest market share with 54% in 2016 and is estimated to expand at the highest CAGR in the coming years. The synthetic cellulose fiber occupies the second position in the global market with 46% in 2016. While the demand for natural cellulose has been decreasing in the past few years owing to difficulty in cultivation, the demand synthetic fibers is increasing.
By mode of application, the global Cellulose Fiber Market has been segmented into domestic textile, apparels, industrial textile, and others. Among these, the textile segment occupies the major share owing to the extensive demand for cellulose fibers from the textile industry. But apparels can register 5.73% CAGR during the forecasted period.
Regional Insights
Geographically, the Cellulose Fiber Market can span across five regions, namely Europe, North America, Asia Pacific, and Rest-of-the-World (RoW).
Among all regions, the Asia Pacific is considered to hold a significant share in the global market. The growth is attributed to the increasing demand for apparel in this region. The APAC region is highly fragmented into niche markets like China, Japan, and India. Moreover, strong production trend of raw materials like jute, cotton, and bamboo in economies such as India and China will contribute to the market growth in this region.
Europe also bags a major share of the Cellulose Fiber Market owing to the augmenting purchasing power of customers which influences the market to a great extent. The North American region is considered to emerge as a major manufacturing base which is anticipated to propel the market growth in the coming years. Additionally, market players are focusing on introducing new high-quality products in the market through mergers and acquisitions, collaborations, or partnerships, which is anticipated to enhance the market growth in this region.
Industry Updates
The supermarkets of Swiss Coop Corporation are now using the Multi-Bag, which is a reusable bag for vegetables fruits. This recent innovation is causing a stir among the domestic consumers as the bags are made of Forest Stewardship Council (FSC) certified cellulose and has been awarded the Oecoplan label. Made from Lenzing Modal, a cellulose-based fiber, these multi-bags can be used multiple times and are an environmentally friendly solutions to disposable plastic bags.
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