Increasing urbanization, growing population and rising disposable incomes to drive the growth of global cellulose fiber market through 2024
According to TechSci Research report, “Global Cellulose Fiber Market By Type, By Application, By Region, Competition, Forecast & Opportunities, 2024”, the global cellulose fiber market is expected to grow at a CAGR of around 9% during the forecast period. Since there is a growing demand for environment friendly, body adjustable and bio-degradable clothing and fabrics from the textile industry, there is a key growth being witnessed in global cellulose fiber market. However, the high cost of cellulose fiber is likely to hamper the growth of the market during forecast period. Prices of raw material required for manufacturing of cellulose fiber is dynamic in nature and change continuously, thereby curbing their use in large-scale industries. Additionally, skilled labor and advanced machinery are required in the production of cellulose. Furthermore, many government organizations are putting regulations over fiber production which is impacting the growth of the market. Additionally, the high investment in research & development activities for developing new technology or product is the major barrier for the cellulose fiber market.
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The global cellulose fiber market is segmented based on type, application, company and region. Based on type, the market can be fragmented into cotton, wood pulp, jute, viscose, lyocell, modal and others. The wood pulp segment is expected to hold a significant market share on account of its major applications in the textile and hygiene industries owing to similar properties as the engineered type. Based on application, the market can be categorized into textile, filtration, hygiene, wipes, construction and others. The textile segment dominates the market on account of rising use of cellulose fibers as a substitution of nylon and polyester, owing to their low cost, recyclability and less weight.
Lenzing AG, Grasim Industries Limited, Sateri Holdings Limited, Shandong Helon Polytex Chemical Fibre Co. Ltd., Tangshan Sanyou Xingda Chemical Fiber Company Ltd., Eastman Chemical Ltd. Corporation, Zhejiang Fulida Fibre Co., Ltd., Daicel Corporation, Kelheim Fibres GmbH, Thai Rayon Public Company Limited and others are some of the leading players operating in global Cellulose Fiber market. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share.
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“Asia-Pacific is expected to be the fastest growing market for cellulose fiber during forecast period, owing to the rising demand for apparels in this region. Additionally, the presence of numerous textile and apparel industries in countries like China and India is further expected to increase the overall demand for cellulose fibers in the region. Furthermore, strong production trends of raw materials such as cotton, jute, wool, among others in the region will further propel the growth of market during forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Cellulose Fiber Market By Type, By Application, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global cellulose fiber market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global cellulose fiber market.
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