Sellbyville, DE -- (SBWire) -- 06/21/2019 --Global Market Insights adds Global Cellulose Fiber Market Report focuses on the major drivers and restraints for the Global key players. It also provides analysis of the market share, segmentation, revenue forecasts and geographic regions of the market.
Middle East and Africa cellulose fiber market, which gathered a revenue of USD 1.5 billion in 2015, is foreseen to hit USD 3.5 billion by 2024. Easy availability of workforce at lower costs along with the discovery of ample natural resources in the region is anticipated to support the industry expansion. Rise in the textile production in Africa as a result of large-scale shifting of textile manufacturing firms in the region will further drive cellulose fiber industry revenue.
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Cellulose fibers find extensive applications in the spun yarn, fabrics, filtration process, and clothing. Cellulose fiber industry size in the clothing sector, which was estimated at USD 10.5 billion in 2015, is expected to grow at an annual rate of 9.5% during the period from 2016 to 2024. Increasing awareness regarding fashion trends coupled with the rise in the per capita income is forecast to boost the revenue. The thriving clothing and apparel sector will also contribute significantly toward cellulose fiber market growth.
Spurn yarn applications, which contributed over 13% of cellulose fiber market share in 2015, are expected to make notable contributions to the industry size in the future. The growth can be attributed to the extensive use of these yarns in knitting and embroidery. Furthermore, they are more preferred in tire cords and high performance tires, owing to their unique features as compared to polyester fibers.
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Many governments have formulated laws and regulations to protect forest reserves in the wake of rapid deforestation and global warming. These regulations, controlling and limiting the number of trees being cut for wood and other resources, may hamper the global cellulose fiber market in future as it will likely lead to a steep increase in the price of raw materials for the product.
Spun yarn, clothing and fabrics are the three application segments in the global cellulose fiber market. Clothing is the most significant application segment occupying above 60% of the overall share. This segment will likely grow by a CAGR of more than 9.5% during the forecast timeframe owing to rising demand for apparel and clothing from a new generation customer who are increasingly fashion savvy and are willing and able to spend more on their outfits. Fabrics segment also has a substantial share of the global market and its share of the overall market will likely reach USD 5 billion in 2024.
the key players of cellulose fiber market are:
- Lenzing SA
- Shandong Helon Company Limited
- Sateri
- Kelheim Fibres GmbH
- Grasim Industries Limited
- Daicel Corporation
- Thai Rayon Public Company Limited
- Tangshan Sanyou Chemical Fiber Company Limited
- Fulida Group Holding Company Limited
- Aoyang Group Company Limited
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Cellulose Fiber Market Regional Trends & Growth Forecast to 2024, Key Players: Lenzing SA, Grasim Industries, Fulida, Tangshan Sanyou, Aoyang, Shandong Helon
Middle East and Africa cellulose fiber market, which gathered a revenue of USD 1.5 billion in 2015, is foreseen to hit USD 3.5 billion by 2024.