Cellulose Fibers Market Will Be Worth $29.6 Billion by 2020: Grand View Research, Inc.

The global cellulose fibers market size is expected to reach USD 29.6 billion by 2020, according to a new report by Grand View Research, Inc. Shift in trend towards adoption of biodegradable fabrics is expected to remain a key driving factor for global cellulose fiber market. Stable growth of textile industry, particularly in Asia Pacific and Africa is also expected to have a positive influence on market growth. Availability of raw materials coupled with technological advancement in manufacturing processes is anticipated to fuel the product demand.

Volatile wood prices are expected to remain a key challenge for market participants. To overcome challenges, industry participants have shifted their focus towards producing bio-based alternatives to synthetic cellulose fibers.

Access detailed research report: http://www.grandviewresearch.com/industry-analysis/cellulose-fibers-market

Clothing was the leading application segment and accounted for over 60% of total market volume in 2013. This segment is expected to gain share over the next six years on account of growing textile industry in emerging economies such as India, China, and Brazil. This is anticipated to be the fastest growing segment over the forecast period.

Further key findings from the report suggest:

• Global cellulose fiber market demand was 5,400.1 kilo tons in 2013 and is expected to grow at a CAGR of over 8.1% from 2014 to 2020

• Replacement of cotton with high-quality cellulose fibers are anticipated to create new avenues for market participants. Rigid forestry policies coupled with volatile wood pulp prices are expected to hinder market growth over the forecast period. In addition, stringent regulatory standards regarding environmental concerns have an adverse impact on the production cost.

• Fabrics are anticipated to witness above average growth over the next six years and are expected to grow at a CAGR of 8.1% from 2014 to 2020. Rising demand for skin and environment-friendly fabric is...