The cellulose fiber market is forecast to grow at a CAGR of nine per cent over the period 2016-24. Abundance of raw materials, environmental benefits of cellulose fibers, and cost effectiveness will boost global cellulose fiber market demand in clothing and apparels over other alternatives such as polyester and nylon. Major shift in fashion trends, a growing demand for improved textile quality, and elevated consumerism are pushing the cellulose fiber market.
Improvement in living standards of emerging nations such as China, India, Brazil is influencing manufacturers to widen the cellulose fiber industry base in these regions. Cellulose fiber is mainly extracted from rich plants such as cotton, bamboo, jute and hemp by dissolving pulp. Asia Pacific, 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 the large apparel and textile industry base across these regions. 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 is projected to show substantial growth owing to its growing demand in embroidery and weaving applications. Artificially extracted cellulose fibers are widely used in the apparel and textile industry.