In addition, the augmented demand for clothing and apparel in emerging economies is also expected boost the demand for cellulose fibers. However, fluctuating prices of raw material is expected to be a key challenge for market growth. Clothing emerged as the leading application segment for cellulose fiber and accounted for 61.3% of total market volume in 2013. It is also expected to be the fastest growing application segment, at an estimated CAGR of 8.2% from 2014 to 2020.
Further key findings from the study suggest:
The global demand for cellulose fibers was 5,400.1 kilo tons in 2013 and is expected to reach 9,202.8kilo tons by 2020, growing at a CAGR of 8.1% from 2014 to 2020.
Cellulose fiber demand for spun yarn applications segment is expected to grow at an estimated CAGR of 9.9% from 2014 to 2020, in terms of revenue.
Asia Pacific continued its dominance in the global cellulose fibers market and accounted for45.5% of total market volume in 2013 to become the leading cellulose fiber consuming region. Asia Pacific, along with being the largest market is also expected to be the fastest growing market for cellulose fibers, at an estimated CAGR of 8.6% from 2014 to 2020. Clothing segment dominated Asia Pacific market in terms of revenue and accounted for around 60% of the total market share.
Asia Pacific market was followed by Europe owing to various government regulations supporting the use of biodegradable fabrics. North America contributed around 14% in the global market for cellulose fibers in terms of volume.
The global market for cellulose fibers is fragmented within many companies including Thai Rayon, Aoyang, Tangshan, Fulida, Sateri, Grasim Industries, Lenzing, Helon and Indo Bhatrat, with Lenzing dominating the overall market with a market share of 17.5% of the total market volume.
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For the purpose of this study, Grand View Research has segmented the cellulose fibers market on the basis ofapplication and region:
Global cellulose fibers application outlook
Other (adhesives, sealants, tapes etc.)
Global cellulose fibers regional outlook
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