The global cellulose fibers market is projected to witness a CAGR of 9.02% over the forecast period. The market is likely to expand from USD 26.04 billion in 2017 to USD 49.70 billion by 2024. Surging demand for biodegradable fibers in textile which are eco-friendly, hygiene and other industries is the major factor for the growth in market.
However, frequent changes in raw material prices, stringent environmental regulations regarding forestry by government globally, will act as the main challenge for the market over the coming years.
The demand for natural cellulose fibers dominated the market and accounted for around 65% in 2017. The market for synthetic fibers is projected to show a significant rise owing to its various properties, such as, it is thermoplastic in nature, abrasion-resistant, fungi resistant, low absorbency.
Cellulose fibers market is fragmented with many local players an is thus highly competitive
The cellulose fibers market has many international as well as local players involved. This has rendered the market to be fragmented. The presence of a large number of market participants has resulted in a highly competitive industry. Lenzing AG, Sateri, Kelheim Fibres GmbH, Grasim Industries Limited, Fulida Group Holdings Co., Ltd, China Bambro Textile (Group) Co.,Ltd, CFF GmbH & Co. KG, CreaFill Fibers Corporation, International Paper, and Grupo Sniace are some of the major market participants.
Celluose Fibers-Regional Insights
Asia Pacific dominated the overall market demand in 2015 and accounted for around 41% in 2017. China, India, Japan, Indonesia an South Korea are the major market in the region. These countries are involved in manufacturing and trade of fibers, which are used across various end-use industries. Vietnam and Bangladesh are the potential future market for the product.
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Key findings from the report:
- The global cellulose fibers market is likely to reach USD 3.05 billion, at a CAGR of 7.7% by 2024
- Natural cellulose fibers held the major share of the market in 2017, owing to its application in construction industry as reinforcement composite which can be used as ready mix plaster
- Asia-pacific dominated the market with the major share. Deveoloping and emerging economies are invetsing a lot in textile and industrial applications which in turn driving the growth of the industry
- The textile industry is flourishing at a high speed. This expansion in the sector is also due to the development of the textile machinery. However, the global market sales were crippled in the year 2015, owing to the decrease in price and demand of the commodity
- The industry has the presence of both large and small players, hence it is fragmented. However, only a few companies have fully integrated themselves among the value chain. One such company is Thai Rayon Public Company Limited, a part of Aditya Birla group. The company has made significant investments in forward as well as backward integration projects in various countries such as Thailand, Indonesia, and Canada.
The report segments cellulose fibers market on the basis of product, application and region.
- NaturalPlant fiberCotton fiber
- Jute fiber
- Wood fiber
- AnimalAlpaca fiber
- Silk fiber
- SyntheticRayon fiber
- Modal fiber
- Nylon fiber
- Polyester fiber
- North America
- Central & South America (CSA)
- Middle East & Africa (MEA)
– South Africa