Cellulose Fiber Market
By Cellulose Type (Natural Cellulose, Man-made Cellulose),
By End Use Industry (Textile, Industrial and Manufacturing, Healthcare and Hygiene, Others),
By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa)
Global Analysis and Forecast 2023-2033.
The global cellulose fiber market is to be worth more than USD 58.75 billion by 2033.
Expanding textile industry consumption, the environmentally advantageous properties of cellulose fibers, rising disposable income, and fast-changing fashion trends all contribute to the market's growth. As a result, cellulose fibers are becoming increasingly widespread, and this trend is expected to continue during the forecast period, boosting the cellulose fiber market's growth. For illustration, the German Institutes for Textile and Fiber Research Denkendorf (DITF) created PURCELL as a glass-fiber-reinforced polymer substitute. Since it is entirely constructed of cellulose, it is completely recyclable. Rising urbanization and consumer buying power, from the necessity to aspirational purchases, are driving increased demand for textiles and clothing. Furthermore, the growing GDP in Brazil, China, and India has tempted numerous firms and newcomers to make huge capital investments in the industry, propelling cellulose fiber market expansion.
The market for cellulose fibers is capital-intensive and requires specialist knowledge. Companies operating within the market constantly engage in R&D for new goods and technological improvements to improve their product expertise and introduce innovative products in the market through innovative technologies. For instance, In February, Eastman, a leading chemical manufacturer, created a new cellulosic staple fiber to broaden its Naia fiber portfolio. This newly introduced Naia offers consumers a sustainable fashion option by offering diverse and eco-conscious materials. Moreover, In June 2020, Sateri, a maker of natural and high-quality fibers based in China, introduced Finex, a unique next-generation cellulosic fiber made from recycled material. Finex is a one-of-a-kind product created from recycled pre- and post-consumer textiles as well as other PEFC-certified wood pulp from renewable plantations. It has distinct properties, such as being soothing on the skin, brightly colored, and breathable. Finex's innovation and technology enable the recycling of cellulosic textile fiber.
According to the CXOs and primary research conducted, the severe standards enforced by regulatory authorities represent a significant impediment to the growth of the global cellulose fiber market. The US Food and Drug Administration (FDA) has also imposed severe regulations on the use of cellulose fibers. Under CFR 21 Part 175, cellulose fiber makers must adhere to good manufacturing practices. Complying with these rules raises production costs, limiting market expansion. Tight norms and limitations for the usage of cellulose acetate, particularly in food packaging, will stymie market growth during the forecast period.
The cellulose fiber market is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In line with the analyzed region, the North American region will witness the highest market share, followed by Europe, Asia-Pacific, Latin America, and Middle East & Africa. Asia-Pacific dominates the industry in terms of market share and revenue. Its supremacy will be sustained by expanding textile and industrial sector demands and rapid investments in regional R&D operations. The major companies operating within the market are Bacterial Cellulose Solutions, Birla Cellulose, CFF GmbH & Co. KG, Eastman Chemical Company, Fulida Group Holding Co. Ltd, Grasim Industries Limited, Ioncell, Lenzing AG, Metsä Group, The Lenzing Group.