Cellulose Market Is Estimated to Reach $965.50 Million by 2023

According to the report published by IndustryARC titled “Cellulose Market: by Type (Natural and Synthetic); by End Use Industry (Apparel, Automotive, Construction and others) – Forecast (2018 – 2023),” the market to reach $965.50 million by 2023. The increasing application of cellulose in industries such as apparel, automotive, construction, aerospace, and fireproofing is the major reason for the growth of cellulose market. 

Browse 87 Market Tables, and 35 Figures spread through 188 Pages and go through an in-depth TOC on “Cellulose Market”

According to a recent study from IndustryARC, the cellulose market is forecast to reach $965 million by 2023 and is estimated to grow at a CAGR of 5.1%. The increasing growth in the application of cellulose in areas such as apparel, automotive, construction, aerospace and defense, paper and pulp, and electrical are driving the consumption of cellulose in the global market.

The Cellulose market is ready to exhibit robust development with the introduction of various applications in apparel, paper and pulp industry. Cellulose as naturally and synthetically derived fiber is used in the production of high strength apparels. Further, Cellulose is used as a raw material in the production of papers and fibers and it is chemically modified to yield substances such as purified cellulose are used in the manufacturing of plastics and photographic films. Other cellulose derivatives such as cellophane, rayon, cellulose acetate and cellulose ethers are used as thickening agents in food, explosives, adhesives and moisture-proof coatings. Cellulose and its derivatives market is growing due to extensive utility in sectors such as aerospace & defence, automotive, paper and pulp, textile, electrical/insulation and fireproofing.

Asia Pacific was the largest market for cellulose globally, with a revenue of $452.20 million in 2017. China is the largest market revenue holder in APAC. In North and South America, the demand for cellulose has grown tremendously in the automotive and construction sector. Europe is the third in the list with Middle East and Africa holding the smallest share measuring less than a tenth of the total revenue.

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Cellulose manufacturers have utilized mergers and acquisitions as well as product launches as a strategy and enhanced core competencies through additions to product portfolio to gain a foothold in the emerging markets. The end-user industries covered in the Cellulose Market report include:

The overall market is also presented from the perspective of different geographic regions and the key countries for this industry.  Competitive landscape for each of the product types is highlighted and market players are profiled.

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