The cellulose fiber market is expected to gain a market value of USD 44,500 million by 2030 at a CAGR of 9.2% over the forecast period of 2022-2030.
Cellulose fiber is synthetic fiber created from either plant stalks or wood pulp. These fibers are naturally adaptable and have special qualities like moisture absorption and hydrophobicity, among others. The pulp from cellulose-rich plants, including jute, cotton, hemp, flax, bamboo, and others, is dissolved to create cellulose fibers.
The demand for cellulose fibers is rising globally, which is likely to fuel the expansion of the cellulose fiber market during the forecast period. Companies are seeking alternatives to petrochemical-sourced fibers and changing towards eco-friendly and biodegradable fibers. Additionally, the demand for cellulose fiber is rising due to the widespread usage of cellulose fibers in the textile and apparel industries, which is likely to fuel the expansion of the cellulose fiber market in the coming years. According to World Bank data, countries such as Bangladesh and Sri Lanka contributed 57% and 36%, respectively, in Textiles and clothing (% of value added in manufacturing). However, large-scale businesses are constrained in their utilization of raw materials because of unstable and frequently changing prices.
The World Health Organization has declared COVID-19 a global health catastrophe. It largely affected the cellulose fiber industry in 2020 to mid of 2022. It has caused a significant slowdown in production, increased market volatility, rising populist hysteria, declining business confidence, and future vulnerability in many countries.
With the expanding worldwide populace, the requirement for interest for the material industry is developing, which is increasing the cellulose fiber market size. Furthermore, as cellulose filaments are skin-accommodating, climate well disposed, and biodegradable, the market is probably going to encourage in the coming years. Therefore, critical utilization from the material business attributable to its advantages is expected to fuel the cellulose fiber market development in the coming years.
With the increasing interest for body flexible, natural well disposed and bio-degradable dress and textures from the material business, a sound development has been distinguished in the worldwide cellulose fiber industry. Additionally, with the rising extra cash levels of the working class populace, the market is considered to prosper. Wood mash being one of the key crude materials utilized in the creation of cellulose strands, impacts the market generally. With expanding a worldwide temperature alteration across the world, the interest for biodegradable cellulose fiber has expanded, further adding to the cellulose fiber market growth development. Additionally, the multiplication of new market participants may upgrade the worldwide cellulose fiber market emphatically.
The cellulose fiber market is exceptionally capital escalated and requires legitimate aptitude. The players present in the market are continually occupied with the examination and advancement for new items and innovation developments. The fluctuating crude material costs, inflexible guidelines regarding ranger service, and ecological and declining cotton creation are the significant difficulties looked at by the business.
The Competitive Strategic Window investigations are considered as effective opportunities for business sectors, applications, and regions. The Competitive Strategic Window assists the seller with characterizing an arrangement or fit between their capacities and openings for future development possibilities for the cellulose fiber market manufacturer. It characterizes the ideal or good fit for the merchants to embrace progressive consolidation and securing methodologies, topography extension, research and improvement, and new item acquaintance techniques to execute further business development during an estimated period.
Strict government initiatives for the assurance of existing woodlands are considered the major restraints of the worldwide cellulose fiber market growth. Moreover, the cost of cellulose strands has been the primary consideration controlling the market development. The costs of crude materials needed to fabricate cellulose filaments are dynamic and constantly change, influencing the market development. Also, the absence of talented individuals alongside cutting-edge apparatus needed underway is preventing the market development.
Cumulative growth Analysis
The worldwide cellulose fiber market is required to arrive at USD 48.37 billion by 2025, as indicated by this new report. The expanding hole between the interest and creation of normal cellulose filaments across different end-use ventures is the central point for the development of the market. Likewise, the ascent in material and clothing enterprises in creating and arising economies is additionally expected to fuel the worldwide cellulose fiber market scope development.
By method of type, the worldwide cellulose fiber market has been segmented into engineered and regular. Among these, the normal cellulose fiber involved the most significant piece of the pie with 54% in 2016 and is assessed to grow at the most noteworthy CAGR in the coming years. On the other hand, the engineered cellulose fiber involves the second worldwide situation with 46% in 2016. While the interest for normal cellulose has been diminishing in the previous few years, inferable from trouble in development, the interest in engineered strands is expanding.
The worldwide cellulose fiber market has been divided into homegrown material, clothes, mechanical material, and others by method of application. Among these, the material segment possesses a significant offer attributable to the broad interest for the cellulose segment from the material business. However, cellulose fiber market revenue enrolls at 5.73% CAGR during the estimated period.
Based on region, the cellulose fiber market can range across five areas, in particular Europe, North America, Asia Pacific, and Rest-of-the-World (RoW).
Asia-Pacific represented the most significant portion of the overall industry in 2019 on the maximum usage of cellulose fiber as the area is the main material maker. Besides, quick industrialization, improving monetary conditions, steady government approaches, accessibility of modest work, and expanding sends out combined with a developing populace and changing way of life in the locale are driving the material business, which thus, fuel the interest for cellulose fiber in the district. For example, as indicated by India Brand Equity Foundation (IBEF), the country's general material fares from 2019 to 18 remained at USD 39.2 billion. The huge modern base in European and North American locale combined with the appeal for specialized materials in auto, medical services, and development businesses is required to drive the territorial market development during the estimated time frame.
Major Market Players
The key players of cellulose fiber market include:
The report highlights the cellulose fiber market overview development includes its revenue hike's growth potential by the end of the forecast years in 2028.
|Market Size||USD 44,500 million|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||by Fiber Type, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||LENZING AG (Austria), Sateri (China), Kelheim Fibers GmbH (Germany) Grasim (India), Fulida Group Holding Co. Ltd (China), China Bambro Textile Co. Ltd (China), Sappi (South Africa), Eastman Chemical Company (US), CFF GmbH & Co. KG (Germany), China Hi-Tech Group Corporation (China), Shandong Helon Textile Sci. & Tech. Co. Ltd (China), Tangshan Sanyou Group (China)|
|Key Market Opportunities||
|Key Market Drivers||Construction industries is expected to drive the regional market growth during the review period|
The worldwide cellulose fiber market projected to reach USD 44,500 million, attaining a CAGR of 9.2% 2022-2030
Clothes are the primary use of cellulose filaments, trailed by home materials.
The Asia Pacific will probably hold the lead in the worldwide cellulose fiber market over the figure time frame.
LENZING AG (Austria), Sateri (China), Kelheim Fibers GmbH (Germany) Grasim (India), Fulida Group Holding Co. Ltd (China), China Bambro Textile Co. Ltd (China), Sappi (South Africa), Eastman Chemical Company (US)
Asia-Pacific represented the most significant portion of the overall industry in 2030