The global chemical cellulose market is expected to witness strong growth over the next seven years on account of increasing demand from various end-use industries including textiles, food & beverages, and cosmetics. Chemical cellulose demand is expected to grow significantly over the forecast period owing to its increasing application in clothes, food products, wash & wipe items, home furnishing products, and beauty products. Rising application scope of chemical cellulose in pharmaceuticals is further anticipated to surge the market growth in the near future. Chemical cellulose has the ability to replace the application of cotton in the textile industry. Strong growth of the textile industry over the past few years resulted in a gap between cotton demand and supply. Growth of the textile industry coupled with shortfall of cotton supply is likely to open several growth opportunities for the market over the next seven years.
Based on chemical composition, the chemical cellulose market can be segmented into various products including viscose staple fiber (VSF), lyocell, microcrystalline cellulose (MCC), acetate, ethers, cellophane and carboxymethyl cellulose (CMC). Among all the products mentioned above, VSF has been dominating the market over the past few years and the trend is expected to continue over the forecast period owing to its increasing applications in making clothes, home furnishings, non-woven, wipes, feminine products, and other hygiene products. Cellulose acetate is the second-largest product segment, anticipated to witness significant growth over the projected period on account of increasing applications in textiles fibers, cigarette filters, wound dressings, and wipes among many others. Increasing demand for CMC from food & beverages, oil drilling fluids, paper processing, and personal care products is further expected to drive the global market.
The textile industry was the largest end-use industry for chemical cellulose in 2013 followed by paper & pulp. Growing demand for chemical cellulose due to shortfall of cotton supply coupled with increasing application scope in making clothes, home furnishings, non-woven products is the key factor to drive the chemical cellulose market. The food and beverage industry is expected to witness strong growth over the forecast period owing to its increasing usage as a texturizer, anti-caking agent, emulsifier, bulking agent, and fat substitute. Other end-use industries include food & beverages, paper processing, personal care & cosmetics, paints & coatings, oil drilling fluids, and cigarette filters among many others.
Europe was the largest regional market for chemical cellulose in 2013 and is anticipated to remain as the dominating market owing to increasing demand from end-use industries in this region. Asia Pacific is expected to witness the fastest growth over the next seven years on account of lucrative growth in the textile industry in China and India. Moreover, South Africa and North America are also likely to provide growth opportunities for the market in near future.
Top five producers in the chemical cellulose market include Sappi Group, Lenzing AG, RGE group, Rayonier, Tembec Inc., CLP Group, Eastman Chemical Company, Celanese Corporation, Solvay Acetow, FMC Corporation, Sigachi Industrial Pvt. Ltd., Sichem LLC, Ashland Inc., and Akzo Nobel N.V.
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Demand across the organic chemicals sector shall register a slump in growth albeit increasing demand for certain chemicals that find end applications in healthcare and food. Furthermore, China, a major supplier of chemicals to the world, registered a considerable decline in manufacturing in the first quarter of 2020, following the trajectory unfolded by COVID-19's escalation to a pandemic. This has led to an imbalance in supply-demand dynamics, forcing manufacturers and customers alike to renegotiate supply agreements. The report will account for Covid19 as a key market contributor.