DUBLIN – (COMMERCIAL THREAD) – The report “Cellulose Fiber Market – Forecasts from 2021 to 2026” has been added to ResearchAndMarkets.com offer.
The Cellulose Fiber market is valued at US $ 33.003 billion for the year 2019 and is expected to grow at a CAGR of 5.53% to reach the market size of US $ 48.088 billion by 2026.
Due to growing concerns about environmental degradation and climate change around the world, companies are looking for an alternative to petrochemical fibers and are turning to biodegradable and environmentally friendly fibers, which is increasing demand. Cellulose Fiber market globally and is expected to propel the growth of the Cellulose Fiber market during the forecast period.
In addition, as cellulose fibers are widely used in the textile and clothing industry, the growth of the textile and clothing industry worldwide is stimulating the demand for cellulose fiber and is expected to accelerate the production. growth of the cellulose fiber market in the coming years.
The recent outbreak of the novel coronavirus disease has hurt the cellulose fiber market. The pandemic has led to a decline in the textile and clothing industry which has negatively impacted the growth of the cellulose fiber market.
Additionally, due to lockdowns around the world, industries were closed, and even where industries were opened, there was a labor shortage. Retail sales have declined and short-term consumer attention has shifted to essentials only. This caused the cellulose fiber market to decline during the pandemic.
However, the lockdown has been lifted in most parts of the world, trade restrictions have been relaxed, and demand for textiles and clothing has increased, but the full recovery of the cellulose fiber market is not expected to be achieved until 2022. .
The increasing demand for environmentally friendly fibers.
One of the key factors complementing the growth of the cellulose fiber market is the increased attention of the world towards finding a biodegradable and environmentally friendly fiber.
As the issue of climate change, environmental pollution and sustainability has taken a storm, more companies are trying to move towards a green option for fibers from traditionally used petrochemical fibers, that cause large amounts of carbon emissions to the environment.
As a result, Cellulose Fibers are gaining in demand which is expected to keep growing during the forecast period which will drive the growth of Cellulose Fibers Market. The recyclability of cellulose fibers gives it an advantage over other materials. In addition, cellulose fibers, due to their ecological properties, are increasingly considered to strengthen and replace plastics in many applications.
Cellulose nanofiber is one such material which has properties similar to plastic, such as being light, strong, transparent, with high barrier properties to water and gas, this is the reason for which it is considered an alternative to plastics, not just in food. industry, but also in various other industries such as medicine, cosmetics and electronics.
The search for a biodegradable and environmentally friendly fiber has led to increased research and development on cellulose fibers and new fibers are being produced as an alternative to previously used fibers.
For example, while searching for an alternative to glass-fiber reinforced plastics, the German Textiles and Fibers Research Institutes in Denkendorf (DITF) developed a material called PURCELL. The material is made of pure cellulose and is therefore fully recyclable.
Growth of the textile and clothing industry around the world.
The world is experiencing significant growth in the textile and clothing industry which is expected to be one of the major growth factors of cellulose fibers during the forecast period.
According to the World Statistical Review 2019 of the World Trade Organization (WTO), the total value of world textile exports was $ 315 billion and clothing exports was $ 505 billion in 2018. There was an annual increase of 6.4% in textiles and 11.1% in clothing. The WTO said this was the fastest growth in six years.
With the rise of urbanization and the high purchasing power of consumers, we are witnessing a shift from purchasing based on needs to purchasing based on aspirations, which is causing the demand for textiles and clothing to explode. .
Rising per capita income and increasing consumer spending around the world are boosting the growth of the textile and garment industry, which is expected to accelerate the growth of the cellulose fiber market during the period. forecast, because cellulose fibers are widely used in the textile industry.
The textile industry has grown rapidly in Southeast Asian countries like India, Vietnam, Bangladesh, among others, which fills the supply shortage for the growing demand for textiles and clothing. globally, leading to accelerated growth of the cellulose fiber market. which is expected to continue to proliferate during the forecast period.
Kelheim Fibers GmbH
Tangshan Sanyou Xingda Chemical Fiber Co., Ltd.
Eastman Chemical Company
Group Fulida Holding Co., Ltd
CFF GmbH & Co. KG
For more information on this report, visit https://www.researchandmarkets.com/r/qojzf5