ALBANY, N.Y.--(BUSINESS WIRE)--Transparency Market Research (TMR) recently published a market study titled “Cellulose Fibers Market for Spun Yarn, Fabrics and Clothing Applications - Global Industry Analysis, Size Share, Growth, Trends and Forecast, 2012 – 2018”.
The global cellulose fibers market will be valued at US$24.17 billion by 2018, increasing from US$12.63 billion in 2011 at a progressive 9.8% CAGR from 2012 to 2018.
Increasing consumer awareness for biodegradable, environmentally sustainable and skin-friendly fabrics is driving demand for cellulose fibers. The textile industry is the largest end user of the cellulose fibers market and accounts for more than half the global consumption.
Moreover, switch from petrochemical fibers to cellulose fibers in a large number of end-use industries is also aiding the global cellulose fibers market. However, fluctuating wood pulp prices, which is a major feedstock in the production of cellulose fibers, combined with environmental regulations, are major inhibitors to market growth.
Cellulose fibers find application in the clothing industry, which contributed 61.2% of global cellulose fiber consumption in 2011. The segment accounts for more than 50% of the demand for cellulose fibers worldwide.
The clothing industry application segment holds the maximum share of the cellulose fibers market and is poised to exhibit growth at a 7.6% CAGR between 2012 and 2018.
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The spun yarn segment of the global cellulose fibers market is expected to grow at a CAGR of 7.3% between 2012 and 2018. Rising demand for fibers synthesized from renewable source, combined with environment sustainability, will drive demand for cellulose fibers.
Asia Pacific is emerging as the leading cellulose fibers market, accounting for 45.3% of global demand in 2011. Rising demand from the textile industry, mainly in India and China, is boosting growth prospects of this regional market.
Transparency Market Research (TMR) is a U.S. based market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.