Global Cellulose Fiber Market expected to reach USD 37,284 Million by 2023

Market Scenario
Globally, the market for Cellulose Fiber has been increasing tremendously, specifically in Asia pacific, owing to rise in the populations in this region resulting to increasing in demand for Textile industry. Additionally, cellulose fibre industry growth typically follows the growth of these key end markets. The demand from textile industry for cellulose fibre is increasing day by day from developing economies such as china and India. India is world’s second largest producer of textiles specially in cotton and cellulose fibre, abundant availability of raw materials such as cotton, jute, silk, skilled workforce have made a country sourcing hub. In-addition, According to, Government of India, ministry of agriculture has mentioned there is tremendous demand for bamboo in national and international markets. Therefore government is taking necessary steps in to fill –up the gap between supply and demand in this sector.
The market of cellulose fiber by type is segmented into natural and synthetic. Natural accounted for the largest market share of 54% in 2016, and is projected to grow at the highest CAGR during the forecast period. Synthetic was the second-largest market in 2016, with the market share of 46% in 2016. The demand for natural cellulose has been declining in past few years due to difficulty in cultivation and increasing demand from synthetic fibers is predicted to increase and if the development of new cellulose fiber is successful the growth rate might even exceed the forecasted period.

Market Highlights
Cellulose fibers are high-performing fibers that have properties such as abrasion resistance, moisture absorbency, and so on. These unique properties enable cellulose fibers to find usage in application such as textile, packaging, automotive among others.
Globally, the market for cellulose fibers has been increasing tremendously, specifically in Asia pacific, owing to rise in the populations in this region resulting to increasing in demand for apparel sector and textile sector among others. On the other hand, India is world’s second largest producer of textiles specially in cotton and cellulose fiber, abundant availability of raw materials such as cotton, jute, silk, skilled workforce have made a country sourcing hub. In-addition, According to, Government of India, ministry of agriculture has mentioned there is tremendous demand for bamboo in national and international markets. Therefore government is taking necessary steps in to fill –up the gap between supply and demand in this sector.

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Key Players
The key players in market includes:
• Lenzing AG
• Grasim Industries Limited
• Sateri Holdings Limited
• Kelheim Fibres
• Tangshan Sanyou Xingda Chemical Fiber Co., Ltd
• International paper
• Eastman Chemical Company

Key Findings
• The Global cellulose fiber market is expected to reach USD 37,284 Million by 2023
• Regionally, Asia-pacific has the largest market of USD 13,553 Million by 2023
• In Asia- pacific, China accounted for the largest market share of 45 % in 2015, with a market value of USD 4,250 million and is projected to grow at the highest CAGR of 5.98% during the forecast period. Japan was the second-largest market in 2015, valued at USD 1,785 million in 2015; it is projected to grow at a CAGR of 5.15%.
• Apparels market accounted for the largest market share registering CAGR of 5.73% during the forecasted period
• On basis of type segment, Natural holds the market share of 54% in 2016

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Intended Audience
• Manufacturers and distributors of Cellulose Fiber.
• Suppliers and traders of Cellulose Fiber.
• Government, associations and industrial bodies.
• Investors and Trade experts.
• Consulting in chemical experts.

Scope of The Study
The scope of the study categorizes the cellulose fiber market as functional, and application.
By type
• Natural
• Synthetic
By Application
• Apparels
• Domestic textile
• Industrial textile
• others

Regional Analysis
As per MRFR analysis Asia Pacific dominated the global specialty chemicals market and has accounted for the largest share of the market in 2014. Asia Pacific market is followed by North America and Europe. Moreover, Asia Pacific cellulose fiber market will witness growth above average with respect to demand of the same throughout the forecast period driven by strong growth in China and India due to the growing textile industry.
In terms of volume, Middle East, Africa and Asia Pacific are expected to witness robust growth during the forecast period. Availability of cheap labor, favorable weather conditions and governmental support are some of the factors driving the emulsion polymers market in these regions. Latin America, Europe and North America are also expected to experience significant growth of emulsion polymer market in near future.
Globally, cellulose fiber market has been changing constantly in terms of applications, technologies, innovation and performance Along with the product innovations and developments the demand for technical textiles is also growing with newer applications and growth of end user industries. A large part of demand for technical textiles comes from various end-use industries such as automotive, sports equipment and sportswear, environmental protection, construction, healthcare, packaging, clothing, and agriculture. The global cellulose fiber market is led by the developed regions like US and EU, while emerging markets like China, India are showing high growth potential.
US is the largest market for consumption of cellulose fiber products accounting for a share of23% followed by China Japan and Western Europe with a share of 22%, 13% and 7%, respectively. The rest of the world accounts for 35% share in the consumption of cellulose fiber. Emerging regions such as Asia Pacific and Latin America are presumed to witness rapid growth in multiple segments of cellulose fiber. Countries such as China, India and Brazil are projected to lead their respective regional markets and are expected to witness brisk growth in the cellulose fiber market. Favorable government initiatives and policies encouraging infrastructure spending, manufacturing, medical etc. are expected to play a key role in shaping these countries. As the market for cellulose fiber consumption is increasing, many country fulfill their demand by importing these advanced textiles from United States. Major export markets for U.S.companies are Vietnam, India, Taiwan and Brazil. Korea and Taiwan are also emerging as a strong competitor to US, with their focus on innovation.

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Akash Anand,
Market Research Future
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This release was published on openPR.