San Francisco, CA -- (SBWIRE) -- 07/07/2014 -- The global market for cellulose fibers is expected to reach USD 29,611.1 million by 2020, according to a new study by Grand View Research, Inc. Low prices of raw material coupled with regulatory supports offered by various countries are expected to be key driving factors for the market. 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.
The report “Cellulose Fibers Market Analysis By Application (Spun Yarn, Fabrics, Clothing and Other) And Segment Forecasts To 2020,” is available now to Grand View Research customers and can also be purchased directly at http://www.grandviewresearch.com/industry-analysis/cellulose-fibers-market
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Further key findings from the study suggest:
- The global demand for cellulose fibers was 5,400.1kilo 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 fibersmarket on the basis ofapplicationand region:
Global cellulose fibers application outlook
- Spun yarn
- Other (adhesives, sealants, tapes etc.)
Global cellulose fibers regional outlook
- North America
- Asia Pacific
About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com/
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