Cellulose Market Size worth over $235 Billion by 2026
Published Date: November 9, 2020 Authors: Kiran Pulidindi, Akshay Prakash
According to a new research study published by the Global Market Insights, Inc., the Cellulose Market size is expected to exceed USD 235 billion by the end of 2026. The pure cellulose find demand from applications including baby diapers and other personal hygiene products, where liquid absorption is critical, which is likely to drive the cellulose demand during the forecast period.
The cellulose market is largely governed by its usage in paper, packaging, personal care & cosmetic, and pharmaceuticals, positively influencing the market growth and providing lucrative opportunities for product manufacturers. The proliferating demand for cellulose packing products to replace polystyrene-based packaging will decrease the weight of the packaging and significantly propel the industry expansion.
The radical shift toward eco-friendly packaging is likely to expand the applications of cellulose. However, the cellulose market is projected to witness a decent growth rate during the forecast period, 2020 to 2026, since paper manufacturers across the world may cut down their production capacity utilization rate or implement lower use of these solutions, lowering the demand from the end-use industries in this period.
Increasing demand for forest-based textile fibers is likely to surge the industry proliferation
Cellulose has long been used to make clothing products in the textile industry such as rayon, which is manufactured from pulp or cellulose. Cellulose fibers can also be produced by an industrial process, by the extraction of cellulose from plant materials, dissolution, and regeneration. The most important raw material used is wood; therefore, these fiber types are also summarized as wood-based fibers.
Moreover, cellulose acetate is also utilized in the manufacturing of the paper or nonwoven polymers, which can be used in the textile industry as a fiber to manufacture clothing. Moreover, few traditional cottons can be replaced by man-made cellulosic, the development of such products will proliferate the cellulose market penetration.
Browse key industry insights spread across 375 pages with 419 market data tables & 28 figures & charts from the report, “Cellulose Market By Source (Natural, [Crops, Cotton, Jute, Hemp, Flax, Corn, Wheat], Fruits, [Apple, Peaches, Strawberries, Treewood [Hardwood, Softwood], Synthetic), By Modification (Unmodified, Modified, [Microcrystalline Cellulose, Cellulose Ethers, Oxidized), By Manufacturing Process (Viscose, [Acid Sulfite, Prehydrolysis Kraft], Cellulose Ethers), By Purity (Above 95%, 85% - 95%, Below 85%), By Application (Food, Pharmaceuticals, Paper, Cosmetics, Textiles), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
The synthetic segment is anticipated to witness 4.1% CAGR in cellulose market. The synthetic cellulose has various key advantages over the naturally sourced cellulose in the textile industry such as lower overall cost of manufacturing, available in varieties of colors and provide soft structure. With increasing usage of synthetic cellulose in the manufacturing of clothing products will promote the growth of cellulose industry over projected timeframe.
Increasing demand of cellulose from electronic goods to drive above 95% cellulose demand
In terms of volume, the above 95% pure cellulose is expected to grow at a CAGR of 4.0% during the forecast period. The increasing adoption of cellulose in various end-use applications where clarity and touch are essential will drive the growth of cellulose market segment. These also helps to enhance texture, thicken syrups, and enable the development of slow-release medications in the food and pharmaceutical industry.
Europe will account for over 25% share and can be primarily attributed to large production of the paper and pulp across the region. Moreover the increasing demand for hygiene products such as baby wipes, face mask and floor wipes across the Europe will further improve the product penetration.; additionally, the European Union has implied a directive to prohibit the sale of plastic disposables, which will be effective by 2021, which will be a stimulus for further growth in the consumption of cellulose products across Europe.
Some of the prominent manufactures in the global cellulose industry are Shin-Etsu Chemical Co., Ltd., Eastman Chemical Company, Dupont De Nemours, Inc., Daicel Corporation, NEC Corporation, Celanese Corporation, Bracell., among others.
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