DUBLIN, Dec. 30, 2021/PRNewswire/ “Cellulose Fiber Market Forecasts 2021-2026”Report has been added ResearchAndMarkets.com’s offering.
The market for cellulose fibre is evaluated at US$33.003 trillionThe market size is expected to grow at a rate of 5.53% in 2019, according to projections. US$48.088 trillionBy 2026
Companies are seeking alternatives to petrochemical-sourced fibers due to rising concerns about climate change and environmental degradation. They are shifting towards eco-friendly and biodegradable fibres which will increase the demand for cellulose fibers worldwide and propel the market for cellulose fibers during the forecast period.
Cellulose fibers are also widely used in the apparel and textile industries. This is driving demand for cellulose fibre and is projected to increase the market for it in the coming years.
The cellulose fiber industry was hit hard by the recent epidemic of the novel coronavirus. The pandemic caused a decline of the textile and apparel industries, which adversely affected the growth of the cellulose fibre market.
Lockdowns in the world also caused industries to be shut down and even those that were open experienced a shortage of workers. Retail sales fell and consumers shifted their attention to essentials only. This caused a decline of the cellulose fiber market in the pandemic.
The lockdown was lifted in most of the world, trade restrictions were eased and textile and apparel demand increased. However, the market for cellulose fiber is not expected to recover completely before 2022.
The increase in demand for fiber that is environmentally friendly.
One of the key factors contributing to the growth of the cellulose fiber industry is the increased focus on finding a fiber that is both biodegradable, and environmentally friendly.
As environmental issues such as climate change, pollution, and sustainability are gaining attention, more companies are looking for green alternatives to traditional petrochemical-sourced fibers that cause large carbon emissions to the environment. The demand for cellulose fibers is increasing, and it is expected to continue to rise in the forecast period, thereby boosting the growth of the cellulose market.
Cellulose fibers have a unique advantage because they can be recycled. Because of their green properties, cellulose fibers are increasingly being used to replace and reinforce plastics in many applications.
One such material is cellulose nanofiber. It has similar properties to plastic, including being light, strong, transparent and with high barrier properties to gas and water. This is why it is being used in many other industries, such as medicine, cosmetics and electronics.
New fibers are being developed as alternatives to existing fibers.
For instance, while working on finding an alternative for glass-fiber-reinforced plastics, German Institutes for Textile and Fiber Research Denkendorf (DITF) developed a material named PURCELL.
The material is made from pure cellulose and is therefore fully recyclable. The constant development in researches is providing increased opportunities to replace environment-degrading fibers with environment-friendly ones, which is anticipated to propel the growth of the cellulose fiber market in the coming years.
The textile and apparel industries are experiencing rapid growth around the globe.
The world is experiencing significant growth in the apparel and textile industries. This is expected be one of many factors driving the growth for cellulose fibers over the forecast period.
According to World Statistical Review 2019, World Trade Organization (WTO), global textile exports totaled to $315 billionTotal apparel exports $505 billionIn 2018, there was a 6.4% annual increase in textiles and 11.1% in apparel. In 2018, textiles saw an increase of 6.4% and apparel, 11.1% respectively. According to WTO, it was the most rapid growth in six years.
With the increase in urbanization and high purchasing power of consumers, there has been a shift from need-based purchases to aspirational-based purchases which is driving up the demand for apparel and textiles.
The growth of the textile and apparel industries is driven by the rise in per capita incomes and increased consumer spending. This will drive the market for cellulose fibers to grow during the forecast period. Cellulose fibers are widely used in textile manufacturing.
The textile industry is growing rapidly in Southeast Asian countries, such as Thailand. India, Vietnam, BangladeshAmong others, it is filling the demand gap for textile and apparels all over the world, leading a boost in the growth rate of the cellulose fiber market, which is expected to continue expanding during the forecast period.
The Asia PacificTo hold a significant market share.
Geographically, the Asia PacificThe region’s status as the world’s largest textile manufacturer is expected to give it a significant market share. Due to increased research and development in North America to make innovative fibers withcellulose, North American is expected to see significant market growth.
Lenzing AG and Birla Cellulose are the most prominent/major market players in the cellulose fibre market. To gain a competitive edge over their competition in this market, cellulose fiber market players are using various growth strategies.
The report includes information on the major market players and their competitive strategies. It also mentions recent deals made and investments made by different market players over time.
The company profiles section provides information about the business overview, financial performance (public corporations) over the past few years, key products, and services offered, as well as the latest deals and investments made by these important players in cellulose fiber market.
Kelheim Fibres GmbH
Tangshan Sanyou Xingda Chemical Fiber Co., Ltd.
Eastman Chemical Company
Fulida Group Holding Co., Ltd
CFF GmbH & Co. KG
For more information on this report, visit https://www.researchandmarkets.com/r/s9wdbc
Research and Markets
Laura WoodSenior Manager
For E.S.T office hours, call +1-917-300-0470
Toll Free: +1-800-526-8630
Call +353-416-8900 to find out GMT Office Hours
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
View original contenthttps://www.prnewswire.com/news-releases/outlook-for-the-global-cellulose-fiber-market-2021-to-2026-rising-concerns-regarding-environmental-degradation-and-climate-change-fuelling-growth-301451813.html
SOURCE Research and Markets