MEA cellulose fiber market price to hit $3.5 billion by 2024

MEA cellulose fiber market price is likely to grow from over USD 1.5 billion in 2015 to close to USD 3.5 billion in 2024 by CAGR over 9.0%.Cellulose Fiber Market size projected to cross USD 39 billion by 2024; as per the latest research report by Global Market Insights, Inc.

Enhancing textile and apparel market will likely be the principal driving factor for global cellulose fiber market growth. Artificial cellulose fibers derived from plant based pulps are heavily used in textile industries for apparel manufacturing. Growing GDP and increasing expendable income coupled with rapidly increasing population, regularly upgrading fashion style, and better quality and cost efficient textiles will have a positive effect on the global textile and apparel market in the upcoming years.

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Global textile and apparel market recorded over USD 1 trillion in 2015 and projected to grow substantially up to 2024. Emerging economies such as India, China, and certain African countries will witness a steady growth in demand owing to availability of economical labor force for the large number of textile manufacturing industries, hence propelling the overall cellulose fiber market growth.

U.S. Cellulose Fiber Market size, by application, 2013 – 2024 (USD Million)

Cellulose fibers manufactured from dissolving pulp from cellulose rich plants such as cotton, jute, bamboo, flax, hemp, etc. Abundant availability of these plants shall influence the global cellulose fiber market size significantly in the next eight years. Cotton plants have around 90% cellulose content and world cotton production was over 20 million tons in 2015 with India and China producing over 10 million tons. High number of pulp industries are present in the product value chain for supply of raw materials. Over 7 million tons dissolving pulp produced from various sources all over the globe in 2015 and China had around 20% of the overall share.

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Ecofriendly nature of cellulose fibers over petrochemical based alternatives such as nylon and polyester will likely be another propelling factor for the market growth. These fibers are produced out of pulp from barks, woods, and leaves of cellulose rich crops and are biodegradable unlike nylon or polyester fibers. Also, stringent volatile organic compounds (VOCs) norms will support the growth of the global cellulose fiber market in the next eight years.

 Key insights from the Cellulose Fiber Market report include:

Cellulose fibers find application in spun yarns, fabrics, clothing, and other areas including tapes, adhesives, sound proofing, etc. Clothing applications will hold sway over the forecast timespan with over 60% of the market share, registering revenue beyond USD 10.5 billion in 2015. Increasing expendable income along with fashion awareness will support the market growth in the projected forecast timeframe.

Spun yarn applications generated revenue over USD 2 billion in 2015. And will witness a decent growth owing to rising knitting and embroidery demand. Large number of textile manufacturers in Asia Pacific will support the product market growth in the region in the next eight years. The regional market size was beyond USD 7 billion in 2015 and will grow by over 9.5% CAGR up to 2024.

Strict forest laws against deforestation may restrain the market growth in the forecast timespan. Global pulp industry gradually shifting towards APAC and African countries due to the mandatory regulations in North America and Europe. Inconsistent wood pulp prices on account of the norms may affect the cellulose fiber market negatively. Cost effective labor force for textile industries in African countries may enhance the MEA cellulose fiber market notably by 2024.

Competitive landscape is moderately consolidated. The top market players include Lenzing SA, Tangshan Sanyou, Grasim Industries, Shandong Helon, Fulida, and Aoyang.

Blog: https://www.fractovia.org/news/industry-research-report/cellulose-fiber-market

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