Major shift in the fashion trends, growing demand for improved textile quality, and elevated consumerism is pushing the Cellulose Fiber Market. Artificially extracted cellulose fibers are widely used in apparel and textile industry. Global attire market registered a revenue worth over USD 1 trillion in 2015 and is predicted to prosper with the rising number of manufactures, particularly in the emerging regions. As per a report by Global Market Insights, Inc., cellulose fiber market collected a revenue of USD 17.5 billion in 2015 and is forecast to grow at a CAGR of 9% over the period 2016-2024.With GDP development of emerging nations such as China, India, Brazil, there is an upliftment in living standards which in turn is influencing manufacturers to widen cellulose fiber industry base in these regions.
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The abundance of raw materials, environmental benefits of cellulose fibers, and cost effectiveness are some of the attributing factors toward the expansion of global cellulose market over other alternatives such as polyester, nylon, etc. Cellulose fiber is mainly extracted from rich plants such as cotton, bamboo, jute, hemp by dissolving pulp. Asia Pacific, led by India and China, being the production hub of these plants will reinforce the market demand. For instance, world cotton production exceeded 20 million tons in 2015 with China and India having contributed over 10 million tons.
Clothing, spun yarns, fabrics are some of the principal application sectors of cellulose fiber industry. Clothing applications owing to its extensive use of cellulose fiber accounted for 60% of the total volume with a revenue record over USD 10.5 billion in 2015. It is forecast to be the fastest spreading segment with a CAGR of 9.5% over the period 2013-2024.
Spun yarn is another prominent application having accounted for a revenue of USD 2 billion in 2015 and is projected to show substantial growth owing to its growing demand in embroidery and weaving applications.
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Asia Pacific, mainly driven by India and China, held a sway over other regions with a revenue worth over USD 7 billion in 2015. China and India are predicted to have a defining impact on APAC cellulose fiber industry, driven by the large apparel & textile industry base across these regions.
Establishment of textile companies in several African countries is expected to leave a positive impact on the MEA cellulose fiber market and is projected to reach USD over 3.5 billion at an annual growth rate of 9% over the peri0d 2013-2024.
The top six market players include Grasim Industries, Lenzing SA, Tangshan Sanyou, Shandong Helon Polytex Chemical Fiber Co., Ltd., Aoyang and Fulida.
Browse key industry insights spread across 104 pages with 88 market data tables & 14 figures & charts from the report, “Cellulose Fiber Market Size By Application (Spun Yarn, Clothing, Fabrics), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:
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