The cellulose fiber market is predicted to witness a compound annual growth rate of 8.09% during the forecast period to reach US$48.493 billion by 2024, increasing from US$30.406 billion in 2018. The rapidly changing fashion trends coupled with rising disposable income of people in many regions across the globe is increasing the demand for high-quality textiles. This is increasing the demand for cellulosic fibers. Low cost of these fibers, on account of easy availability of raw materials, is fuelling their adoption across industries, thus augmenting their market growth. As technologies continue to advance, the application of these cellulose fibers will expand into wider industry verticals, thus driving their market over the projected period. However, stringent forestry regulations in many regions across the globe will restrain the market growth to some extent. Geographically, Asia Pacific holds a major share in the global market owing to the presence of major market players in this region. The Middle East and Africa also hold a significant market share on account of the growing textile industry in this region.
Growing demand for environment-friendly and biodegradable fiber
Expanding textile industry
Growing prevalence of diabetes and obesity
Stringent forestry regulations
In April 2019, Infinited Fiber Company a finish start-up expert in producing cotton like fibers from recycled fiber and cellulose raised 3.7 million Euros in funding from H&M Group, Fortune and Virala.
In April 2017, Sateri signed an investment agreement with Jiujiang municipal government to further expand cellulose fiber capacity.
The major players profiled in the cellulose fiber market Lenzing AG, Birla Cellulose, SATERI, Kelheim Fibers GmbH, Tangshan Sanyou Xingda Chemical Fiber Co., Ltd. and International Paper.
The cellulose fiber market has been analyzed through the following segments:
By Fiber Type
Man-Made Cellulose Fiber
Natural Cellulose Fiber
By End-User Industry
Middle East and Africa