Pune, India -- (SBWIRE) -- 01/29/2018 -- Market Highlights

Cellulose fibers are high-performing fibers that have properties such as abrasion resistance, moisture absorbency, and so on. These unique properties enable cellulose fibers to find usage in application such as textile, packaging, automotive among others.

Globally, the market for cellulose fibers has been increasing tremendously, specifically in Asia pacific, owing to rise in the populations in this region resulting to increasing in demand for apparel sector and textile sector among others. On the other hand, India is world's second largest producer of textiles specially in cotton and cellulose fiber, abundant availability of raw materials such as cotton, jute, silk, skilled workforce have made a country sourcing hub. In-addition, According to, Government of India, ministry of agriculture has mentioned there is tremendous demand for bamboo in national and international markets. Therefore government is taking necessary steps in to fill –up the gap between supply and demand in this sector.

Cellulose Fiber Market will cross USD 37,284 Million by 2023, growing with the CAGR 5.45 % of more than from 2016 to 2023.

Key Players:

The key players in market includes Lenzing AG, Grasim Industries Limited, Sateri Holdings Limited, Kelheim Fibres, Tangshan Sanyou Xingda Chemical Fiber Co., Ltd, International paper, and Eastman Chemical Company

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Segment analysis:

Cellulose Fiber by type has been segmented into Natural & synthetic. Natural accounted for the largest market share of 54% in 2016, projected to grow at the highest CAGR of 5.60% during the forecast period. Synthetic was the second-largest market in 2016.

On the other hand, the market by application has been segmented into Apparels, Domestic textile, Industrial textile and others. Apparels market has been growing at a faster pace owing to, in developing economies due to growing population and rising disposable income which has led to increasing purchasing power of the consumers. In-addition the market for industrial textile has been increasing as it is utilized in various sectors from adhesive & sealants, tier, fire proof coatings among others. In others segment it medical textile has been included, the market for this sector is inclining has it is used in face mask, surgical gowns operation cover sheets among others.

Additionally, cellulose fiber is utilized in personal care sector as well. It is utilised in face wipes, baby wipes, baby diaper wipes among others. The use of cellulose fibre has accelerated the market to many extent. Cellulose fibre is used as a renewable raw material in fibre reinforced composite materials and it has received much attention as "green development" and is showing much promise. Natural cellulose fibre is utilised in various automotive applications namely in door panels, seat backs, trunk liners and roof frame.

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Asia Pacific has dominated Cellulose Fiber Market in 2016

As per MRFR analysis Asia Pacific dominated the global Cellulose Fiber market and has accounted for the largest share of the market in 2015. Asia Pacific market is followed by North America and Europe. Moreover, Asia Pacific Cellulose Fiber market will witness growth above average with respect to demand of the same throughout the forecast period driven by strong growth in China and India due to the growing industrial sector.

In terms of volume, Asia Pacific is leading the market and Europe are expected to witness robust growth during the forecast period. Availability of cheap labor, favorable weather conditions and governmental support are some of the factors driving the cellulose market in these regions. Europe and North America are also expected to experience significant growth in the near future.

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