Cellulose Fiber Market Worth 36.96 Billion USD by 2020
September 28, 2015 | By PRN NewsWire
PUNE, India, September 28, 2015 /PRNewswire/ —
The report “Cellulose Fiber Market by Fiber Type (Natural Cellulose Fibers (Cotton, Jute & Others), Man-Made Cellulose Fibers (Viscose, Lyocell, Modal & Others), by Application (Apparel, Home Textile, Industrial, and Others) & by Region – Trends & Forecast to 2020”, published by MarketsandMarkets, Cellulose Fiber Market have various unique characteristic such as strength, low weight, moisture absorbency, and so on. Cellulose Fibers are widely used for manufacturing skin friendly textile. The global Cellulose Fibers Market is expected to reach at USD 36.96 Billion in 2020 at a CAGR of 9.49% over the period between 2015 and 2020.
Browse 68 market data Tables and 54 Figures spread through 156 Pages and in-depth TOC on “Cellulose Fiber Market”
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The cellulose fibers market can be classified into two types, namely, natural cellulose fibers and man-made cellulose fibers. The most widely used man-made cellulose fiber is viscose fiber. Increasing demand for cellulose fibers in the apparel application is expected to drive the market. Key global players in the cellulose fibers market such Lenzing AG (Austria), Grasim Industries (India), and others is facing challenges such as high cost of production, which results as growth restraining factor of the market.
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Asia-Pacific is the key region of the global cellulose fibers market
Asia-Pacific dominated the Cellulose Fiber Market in 2014 and accounted for over 68% of the market, by volume and value. Country-wise, China is the top market of cellulose fibers in the world. Europe is the second-largest cellulose fibers market in the world. Cellulose fibers have various applications such as apparel, home textile, industrial, and others. The growth of the market hinges heavily on the developing economies, especially, Asia-Pacific and RoW. China, Japan, and India, especially, stand out as significant emerging markets, given the mass exodus of production activities from developed countries to low-cost Asian countries. The increase in foreign investments and rise in the number of new manufacturing establishments is propelling Asia-Pacific to emerge as the major driver of growth of the global cellulose fibers market.
Apparel application to drive the growth in the cellulose fiber market
Apparel application accounted for the largest share of the cellulose fibers market at around 47% market share by value in 2014. The increasing population around the world is expected to sustain the demand of cellulose fibers in the coming years. The fastest growth rate till 2020 in the cellulose fiber market is projected to come from applications such as home textile and industrial.
Increase in demand from Asia-Pacific countries
Due to increasing population in Asia-Pacific countries such as India and China, the demand for cellulose fibers is expected to get a boost. High demand of cellulose fibers is expected to come from the apparel and home textile application segments. Various key players in the global cellulose fibers market are investing in Asia-Pacific countries to tap the unexplored market and its increasing demand. This helps the market players to hold a leading position and dominate the global market.
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