Selbyville, Delaware, Nov. 11, 2020 (GLOBE NEWSWIRE) -- Based on Global Market Insights Inc., report, the global cellulose market was estimated at $211.68 billion in 2019 and is slated to surpass $235 billion by 2026, registering a CAGR of 2.9% from 2020 to 2026. The report provides a detailed analysis of the market estimations and size, top investment avenues, wavering industry trends, drivers & opportunities, key winning strategies, and competitive scenarios.
The cellulose market manufacturers are constantly investing to increase their production capacity and their presence in the local market. for instance, in 2019, Shin-Etsu Chemical Co., Ltd. completed the construction of a new cellulose plant, Shin-Estu Chemicals Naoetsu Plant, in Japan. In recent years, many manufacturers have developed a highly processed form of cellulose nanomaterials, which are more durable, lighter, and stronger textile materials to manufacture clothing. This has led manufacturers to invest in technology related to natural materials for manufacturing the clothing textiles.
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For instance, in 2017, the Eastman had Naia, a diacetate thread or fiber made from wood pulp, sourced from sustainably managed plantations. The technology advancements will accelerate the sales of textile fibers, which is expected to observe a significant growth in the foreseeable future.
Viscose manufacturing process segment will observe over 3% CAGR by 2026, which is attributed to lower production cost and superior productivity of the process. The process is widely used for manufacturing cellulose which is used for the paper and textile industries. These are widely used owing to small ability of compact structure, easy availability of the material along with competitive price compared to the counterpart are key factors which will improve the cellulose market growth during the forecast period.
Some major findings of the cellulose market report include:
- Increasing manufacture’s inclination towards cellulose to manufacturing haircare, skincare, and dental care products. In skincare products such as powders and creams, cellulose are used as the bulking agent, binding agent and it also helps in the formulation of free-flowing powders.
- Cellulose ethers & others segment accounts for considerable share owing to its derivatives including esters, ethers, nitrocellulose, Microfibriliated (MFC), etc. are gaining substantial attention from food, pharmaceuticals, textiles, cosmetics, etc. sector.
- Due to the ongoing COVID-19 pandemic, many cellulose manufacturers are focusing on the decentralization of the key raw materials as depending on a single supplier may cause disruptions in the supply chain of the company.
North America is estimated to hold a significant industry share due to the increasing adoption of cellulose solutions in pharmaceutical applications as a diluent and adhesive in the formulation of solid dosage forms such as tablets and capsules will further drive the demand for the cellulose market.
Latin America will witness around 2% CAGR in global cellulose market share by 2026. The region is witnessing a positive outlook for the packaging industry, according to the Brazilian Packaging Association (ABRE) in 2016, Brazil has sold nearly USD 19.46 billion of packaging, which is 6.6% more compared to 2015, well as increasing government support for the paper industry, positively impacting the growth.
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Notable market players analyzed in the cellulose industry report include Eastman Chemical Company, Dupont De Nemours, Inc., Roquette Frères, Daicel Corporation, MACHEREY-NAGEL GmbH & Co. KG, NEC Corporation, Celanese Corporation, LENZING AG, ENKA GmbH & Co.KG, Kelheim Fibres GmbH, Shin-Etsu Chemical Co., Ltd. And Bracell among many others. The key participants are focusing on increasing production capacity, joint venture, and acquisition to increase their global footprint or acquire advanced technology to cater to the increasing demand from global market.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
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