Cellulose Fiber Market to Expand Significantly at A CAGR of 9% During the Forecast Period of 2018-2023

Market Overview:

Market Research Future (MRFR) predicts in their global cellulose fiber market report that the said market can exceed a valuation of USD 37,284 million over the forecast period (2017-2023). During the same time, the achieved CAGR would be quite substantial. Cellulose fibers are mainly sourced from ethers or esters of cellulose which can be obtained from the bark, wood or leaves of plants, or materials that are plant-based. Two other components are found in cellulose; hemicellulose and lignin. By varying the quantity of these two components mechanical properties of the cellulose fiber can be altered. Cellulose fibers have a profound impact on the textile industry as chemical filters and as fiber-reinforcement composites. It can be a perfect substitute for biocomposites and polymer composites. MRFR in their report included segments based on their volume-wise and valuation-based analysis. The report also focuses on factors that can help the cellulose fiber market inflate in the coming years.

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The booming textile industry, burgeoning e-commerce segment, and rising demand from the automotive sector are prepped up to secure the future of the cellulose market with prosperity. New regulations and favorable policies from governments are providing the market thrust. But the cellulose fiber market can get impeded by the volatile raw material prices. But the rising demand can help the market sustain.

Competitive Landscape:

·         Tangshan Sanyou Xingda Chemical Fiber Co., Ltd

·         Grasim Industries Limited

·         Lenzing AG

·         Sateri Holdings Limited

·         International Paper

·         Kelheim Fibres

·         Eastman Chemical Company

Industry News:

Researchers from the Singapore University of Technology and Design, in 2019, came up with a low-cost and low-pollution technology that would make the end product strong, lightweight and inexpensive. They named the material FLAM (fungus-like adhesive material).

In 2018, Lenzing discussed their plan to source wood-based cellulose fiber from compost, landfill, water, and seawater. The eco-friendly method would back their production by at least providing them 50% of the resources.

Market Segmentation:

MRFR segments the global cellulose fiber market by type and application to get a comprehensive overview of the market.

Based on the type, the global cellulose fiber market can be segmented into natural and synthetic. The natural segment had the maximum market share in 2016. It used to control over 54% of the global market. But the demand is sluggish as sourcing it is becoming an issue. The synthetic segment is set to expand its dominance as the growing demand to substantiate the growing need for the product in the coming years.

Based on the application, the cellulose fiber market can be segmented into apparels, domestic textile, industrial textile, and others. The apparels segment is all set to register the highest CAGR of 5.73% during the forecast period.

Regional Analysis:

MRFR assesses the cellulose fiber market and analyses it based on regions such as Asia Pacific (APAC), Europe, North America, and Rest-of-the-World (RoW).

The APAC region is benefitting from the easy availability of raw materials and its cost-effectivity. Natural resources are amply available in the region. These factors are ensuring the dominance of the region in the global market. At the same point of time, foreign investors are founding it easy to expand their market in the region. Many of the investors are now relocating in India and China. The online fashion trend is one of the major factors that is pushing the textile industry ahead, and along with it, the cellulose fiber market is also going up. The market can easily scale valuation of USD 13,553 MN by 2023. China is heading the market and with the highest CAGR of 5.98% during the forecast period, it can promote the regional market well. Japan is gaining grounds with a projected CAGR of 5.15% over the review period. Among the others, Taiwan, South Korea, and India are emerging as dominant forces in the regional market.

North America’s cellulose fibers market is growing impressively as in its stature, it is only next to the APAC region. The large production gets consumed mostly by the regional market. The regional fashion sector is quite substantial.

Europe’s cellulose fiber market is doing significantly well after getting ample support from the well-structured fashion industry.

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