Market Trends of Cellulosic Polymers Industry
This section covers the major market trends shaping the Cellulosic Polymers Market according to our research experts:
Increasing Demand for Regenerated Cellulosic Fibers
- Regenerated cellulosic fibers accounted for an estimated share of more than 99% of the regenerated cellulose polymers market. Viscose, modal, lyocell, and cupro are the major regenerated cellulosic fibers considered in the report.
- Viscose staple fiber (VSF) is a manmade, biodegradable fiber with similar characteristics to cotton. VSF is used in apparel, home textiles, dress material, knitted wear, and non-woven applications.
- Increasing demand for textiles and apparel is expected to drive the demand for VSF in these applications. Asia-Pacific, the largest market for woven fabrics, is witnessing healthy growth due to the increasing demand in countries like India, China, etc.
- Grasim (Aditya Birla) is the major provider of viscose staple fiber in the global market.
- Lyocell is a natural, manmade material made from wood cellulose or pulp. Lyocell material has a very smooth surface and a beautiful appearance. Its elasticity and strength make it perfect for the acquisition of durable items. Hence, it is widely used to produce sportswear. Lenzing is the major provider of lyocell fibers globally.
- Modal is another type of regenerated fiber majorly used in intimates, bed sheets, towels, and bathrobe applications. Lenzing is the major provider of modal fibers globally.
- Cupro is a regenerated cellulose fiber produced by treating cotton cellulose with cuprammonium salts. They are used in apparel, lining, activewear, and home textile applications. Asahi Kasei Corporation is a major provider of cupro fibers.
- Thus, based on the above-mentioned aspects, the regenerated cellulosic polymer segment is expected to dominate the market.
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The Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region dominated the global market. China is one of the fastest-growing economies globally, and almost all the end-user industries have been growing due to the rising population, living standards, and per capita income.
- The construction activity in China has been growing at a moderate rate over the last few years. However, the Evergrande Debt crisis may impact the industry negatively.
- The total investment in property has been steadily rising in China. Real estate investment, which is mainly focused on the residential sector, also includes the construction of commercial and office spaces, acting as the key driver for the growth of the construction sector in China.
- China is the largest manufacturer of automobiles in the world. The country's automotive sector observed growth of about 53% in the first nine months of 2021 compared to the same period in 2020.
- India is likely to witness an investment of around USD 1.3 trillion in housing over the next seven years, witnessing the construction of 60 million new homes. The availability of affordable housing is expected to rise by around 70% by 2024 in India. The Indian government's 'Housing for All by 2022' may also be a major game-changer for the industry.
- The aforementioned factors, coupled with government support, are expected to contribute to the increasing demand for cellulosic polymers in the region during the forecast period.
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