Rising Demand for Cellulose Fiber in Market
The cellulose fiber market is expected to grow at a compound annual growth rate (CAGR) of 5.53% to attain a market size of US$48.088 billion by the end of the analysis period, 2026. The market was valued at US$33.003 billion in 2019. The demand for cellulose fiber is rising in the market as its one of the major components used as an alternative to conventional petrochemical fiber. The exhaustion of petrochemical sources forecasted in the future and the rising impacts of environmental pollutions are increasing the market of cellulose fiber in the global market. Cellulose fiber is a plant-based fiber material, unlike conventional fiber. Cellulose fiber is derived from the wood pulp or from the secretions from the trunk of woods and trees. Fiber is a component that is used in a large scale in several industries. The industries like textile industries, sofa and cushion industries, automobile industries are widely using fiber materials for different applications. The need for fiber material will showcase a steady growth as it has a wide range of applications in several industries.
The eco-friendly nature showcased by cellulose fiber is pushing the market growth of cellulose fiber. As environmental problems and pollution issues are rising as a result of the usage of conventional fibers, the bio-degradable property showcased by cellulose fiber is giving potential for the market growth of cellulose fiber. The wide range of applications of cellulose fiber in the medical field is also boosting the market of cellulose fiber in the medical field.
Increasing Need for Environment-Friendly Materials
Environment pollution is a major problem faced by the globe. Industrial by-products and non-degradable properties showed by widely used materials are resulting in large-scale environment pollution. Ecofriendly nature showcased by cellulose fiber is one of the major factors driving the growth of cellulose fiber market. Cellulose fiber is biodegradable and ecofriendly compared to conventional fibers that cause threat to the environment. Remains of fiber materials and fiber wastes that are not at all degradable are rising major environment problems to nature. Conventional fibers thrown into the soil, which are not biodegradable will result in soil pollution and conventional fibers that are burned will result in air pollution. Cellulose fiber is derived from plants is a perfect alternative to conventional petrochemical fibers as they are biodegradable and also shows similar properties of conventional fibers. Cellulose fibers can be considered as a green replacement of conventional fibers.
Cellulose fiber also exhibits similar properties that of plastic and conventional fiber. Cellulose fiber is strong, rigid, transparent and light weigh with more durability. The less weight and more strength showcased by cellulose fiber is rising the market of cellulose fiber in automobile and cushion manufacturing industries. According to the reports of united nations environment program (UNEP)
about 275 million tons of plastics wastes and remains are generated annually around the globe. Cellulose fiber is considered a remedy or replacement for the environment problems generated by plastic. As cellulose fiber is biodegradable and rigid cellulose fiber is effectively used in the automobile and medical field. The wide range of applications offered by Cellulose fiber as an alternative of plastic is increasing the demand of cellulose fiber in the global market.
Wide Use of Cellulose Fiber in Textile Industries
The textile industry is one of the industries that is expected to show tremendous growth in the forecasted years. The steady growth of textile field is one the factors that is giving potential for the market growth of cellulose fiber market. Fiber is a major component or material that is widely used in textile industries. According to the reports of WTO (World Trade Organization) textile industry is showcasing tremendous growth and market share in the last 6 years compared to that of other commercial industries. The economic developments showcased by countries and developed quality of living of people has increased the purchasing power of consumers. Textile and garment industries is a field that’s showing hand to hand growth with the development of living standard of people. WTO states an export value of $315 billion is showcased by the textile industry in worldwide contributing to the growth of textile and garment industry.
As textile industry is showcasing tremendous growth in the global market, the demand and need for raw materials of textile industries is also rising according to time. Fiber is the major raw material employed in textile industry the demand for fiber is also drastically hiking in the global market. The resembled properties showcased by cellulose fiber to conventional fiber and eco friendly and biodegradable nature of cellulose fiber is boosting the market growth of cellulose fiber.
Application of Cellulose Fiber in the Medical and Automotive Field
Cellulose fiber is widely employed in the medical and automotive field. Automotive field is one of the fields that is widely using fiber material. The high strength, flexible nature, and less weight properties of fiber is giving more usage and application of fiber in automotive industries. Automotive industry is in need of materials showcasing more strength and less weight in order to achieve more fuel efficiency by reducing the weight. Parts made of fiber is widely seen in automobiles. The automobile industry is also an industry resulting in large amount of fiber wastes. The introduction of biodegradable cellulose fiber as a replacement to conventional fiber will reduce the fiber wastes from the automobile industry.
Medical field is widely employing the usage of cellulose fiber. Usage of conventional fiber threads for stitching and surgery are replaced by biodegrade cellulose fiber. The introduction of biodegradable cellulose fiber resulted in more efficiency and convenience in stitching and operation process of medical field, rising the demand for cellulose fiber in medical field.
Geographically, the market is segmented into North and South America, European Region, the Middle East and Africa, and the Asia Pacific region. The Asia Pacific region is to hold a significant market share in cellulose fiber market. The presence of major players of textile industries in Asia Pacific region is rising the market share of cellulose fiber in Asia pacific region.
COVID outbreak has adversely affected the growth of cellulose fiber market. The isolations and lockdowns taken out by the government as a result of COVID spread had declined the market growth of cellulose fiber. The shutdown of production units and manufacturing plants of certain industries like textile industries and automotive industries using fiber materials has resulted in the downfall of cellulose fiber market. The blockage in supply chain sector also resulted in the downfall of cellulose fiber market.
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