Cellulose Market Key Industry Drivers and Outlook 2032

According to Fortune Business Insights, In 2018, the global cellulose market was estimated at USD 219.53 billion and is forecast to attain USD 305.08 billion by 2026, corresponding to a compound annual growth rate (CAGR) of 4.2% over the forecast period. North America dominated the market in 2018, holding a 28.91% share. The U.S. market is anticipated to register significant growth, reaching an estimated USD 88.01 billion by 2032, driven primarily by increased demand for cellulose-based applications in the paper and construction industries. Driven by applications across diverse industries, the market will exhibit considerable growth in the coming years. According to a report published by Fortune Business Insights, titled “Cellulose Market Size, Share & Industry Analysis, By Derivative Type (Commodity Cellulose Pulp, Cellulose Fibers, Cellulose Ethers, Cellulose Esters, Microcrystalline Cellulose, Nano-cellulose, and Others), By End-Use Industry (Textile, Food, Chemical Synthesis, Pharmaceuticals, Construction, Paper & Pulp, Paints & Coatings, and Others), and Regional Forecast, 2025-2032”

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Some of the leading companies that are operating in the global cellulose market are:

• Daicel Corporation

• Sigma Aldrich

• DuPont De Nemours Company

• Akzo Nobel

• Ashland inc.

• Celanese Corporation

• International Paper

• Fulida Group Holding Co., Ltd.

• Nylstar S.L.

• FiberVisions Corporation

• Invista

• Bracell

• Sigachi Industries Pvt. Ltd.

• FMC Biopolymer

Cellulose is a natural polymer made of glucose units linked together in a straight chain. Found in wood (40–45%) and plants (up to 90%), it is the most common solid material on Earth. It comes mainly from sources such as wood, cotton, flax, hemp, and jute. Cellulose is valued for its strength, water-loving nature, and ability to absorb moisture.

Cellulose is a pulp that is derived from plant sources. The substance possesses exceptional properties such as its hydrophile nature, good mechanical performance, and hygroscopic nature. These properties have led to applications across diverse industries, including chemical, textile, and food and beverages. Recent advancements in fabrication technologies have opened up a huge potential for the growth of the companies operating in this market. The shift of preference from petroleum-based products to sustainable resources will contribute to the growing demand for cellulose across the world. Moreover, availability of cellulose-originating products will lead to a wider product adoption, subsequently aiding the growth of the cellulose market in the coming years.

The report provides an in-depth analysis of the global cellulose market. It highlights the latest product launches and labels major innovations in the market. In addition to this, it states the impact of these products on the growth of the market. The competitive landscape has been discussed in detail and predictions are made with respect to leading companies and products in the coming years. Forecast values have been provided for the market for the period of 2019-2026. The factual figures have been obtained through trusted sources. Moreover, these predictions are made on the basis of extensive research analysis methods, coupled with the opinions of experienced market research professionals.

Increasing Number of Company Collaborations to Aid Growth

The report encompasses several factors that have constituted an increase in the cellulose market size in recent years. It has been observed that company collaborations are a growing trend among major companies across the world. In January 2020, The Anhui Guozhen Group announced that it has initiated a joint venture with Chemtex. The company plans to establish a large scale commercial plant in China for the production of cellulosic ethanol. The ethanol production will be centred around residues that are normally obtained from the agriculture industry. The plant will have an annual production capacity of 50 KT. Such a huge venture will not only benefit the country but will also have a direct impact on the growth of the overall cellulose market in the coming years.

Asia Pacific Accounts for a Dominating Market Share; Increasing Product Demand Across Diverse Industries to Aid Growth

The market is segmented on the basis of regional demographics into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, Asia Pacific currently accounts for the highest cellulose market share. The widespread product applications across diverse industries, and the subsequent rise in the demand for these products will have a direct impact on the growth of the market in this region. Besides Asia Pacific, the market in North America will witness considerable growth in the coming years. As of 2018, the market in North America was worth USD 63.46 billion and this value is projected to rise further in the coming years, driven by product uses in the paper industry.

Information Source: https://www.fortunebusinessinsights.com/cellulose-market-102062

Key Industry Developments

• In January 2020, The Anhui Guozhen Group and Chemtex signed a joint venture to build a first full-scale commercial plant in China for cellulosic ethanol production from residues obtained from agriculture industry. Clariant Specialty Chemicals have granted a license for its sunliquid cellulosic ethanol technology to the joint venture. The plant is to be situated in Fuyang city in the Anhui province of China and is expected to have an annual capacity of 50 KT.

• In May 2019, Bracell announced launch of ‘Project Star’, an expansion plan to increase the production capacity of its pulp mill based in Lencois Paulista, Sao Paolo, Brazil, from 250 KT to 1500 KT by the end of 2021. The project is expected to reach an annual production capacity of 2000 KT pulp with the completion of the project, making them one of the largest pulp producer in the world.