The cellulose fiber market is forecast to grow at a CAGR of nine per cent over the period 2016-24. An abundance of raw materials, environmental benefits of cellulose fibers and cost effectiveness will boost global cellulose fiber market demand in clothing and apparel over other alternatives, such as polyester and nylon. A shift in fashion trends, a growing demand for improved textile quality, and elevated consumerism are also pushing the cellulose fiber market.
Improvements in living standards of emerging nations such as China, India Brazil are influencing manufacturers to widen the cellulose fiber industry base in these regions.
Cellulose fiber is mainly extracted from plants such as cotton, bamboo, jute and hemp by dissolving pulp. The Asia Pacific region, led by India and China, is the production hub of these plants and this region will reinforce market demand. China and India are predicted to have a defining impact on the cellulose fiber industry, driven by their large apparel and textile industry base.
Cellulose fiber market applications include clothing, spun yarn and fabrics. Spun yarn is a prominent application, having accounted for a revenue of two billion dollars in 2015, and it is projected to show substantial growth.