Man-made Cellulosic fibers Market: An Overview
Man-made cellulosic fibers are fibers that are obtained from plant and wood pulps. Features like improved strength, low weight, moisture absorbance, etc. are the key characteristics that make these fibers ideal for various applications across numerous end-user industries.
Man-made cellulosic fibers are acting as substitutes for cotton fibers in industries due to decline in cotton production. Manufacturers are developing new fibers possessing premium qualities such as water retention for use in the textile industry to meet the growing consumers demand.
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The main application of man-made cellulose fiber are in the textile industry, however, they are also used as chemical filters and as fiber-reinforced composites. The global man-made cellulosic fibers market is projected to grow at a high CAGR rate owing to its characteristics and uses in various sectors.
Man-made cellulosic fibers are extensively used in various applications including spun yarn, fabrics and textiles. Increasing demand for a high-quality product with good durability is driving the growth of global man-made cellulosic fibers market. Moreover, environmental concerns and government regulations are also contributing to the growth of the cellulosic man-made fiber market.
Man-made Cellulosic Fibers Market: COVID – 19 Impact
The covid-19 pandemic had devastating effects on the global man-made cellulosic fibers market. Due to restrictions on transportation and supply chain from region to region, it had adverse consequences on the market.
Government initiatives to stop the disease from spreading had to take place at the cost of a significant downfall of the overall man-made cellulosic fibers market in terms of revenues. This led to a price surge to tackle the market. Key players such as Grasim (Aditya Birla Group) have released statements regarding the covid-19 impact and the measures taken to handle the crisis.
Segmentation Analysis of Man-made Cellulosic Fibers Market:
The global man-made cellulosic fibers market is bifurcated into three major segments which are classified as: type of the product, applications and geography.
On The Basis Of Type Of Product, The Man-made Cellulosic Fibers Market Has Been Segmented As Follows:
- Viscose Fiber
- Lyocell Fiber
- Modal Fiber
- Cupro Fiber
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On The Basis of Applications of the Product, The Man-made Cellulosic fibers Market Has Been Segmented As Follows:
- Home Textile
On The Basis Of Geographic Regions, The Man-made Cellulosic Fibers Market Has Been Segmented As Follows:
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
Man-made Cellulosic Fibers Market: Regional Outlook
The global man-made cellulosic fibers market is segregated into several key regions which are namely North America, Latin America, Europe, East Asia, South Asia & Oceania and Middle East & Africa. The market is well expanded in these regions and East Asian region is the dominant region in the geographical segment of the man-made cellulosic fibers market.
Furthermore, a significant presence of the product can be found in the European regions as well mainly owing to the establishment of several manufacturers and rise in demand of man-made cellulosic fibers in the region. The leading players in the man-made cellulosic fibers market are extensively devoted to the research & development for new product and technology innovations.
North America is predicted to witness a significant growth boost in the global man-made cellulosic fibers market in the upcoming years. Key factors supporting this are the rise in awareness of the product and expansion of key players into different regions along with the diverse applications of the product.
Man-made Cellulosic Fibers Market: Key Players Outlook
The global man-made cellulosic fibers market is fairly fragmented in nature with a number of players in business worldwide The key players of the man-made cellulosic fibers market are Lenzing AG, Sateri, Kelheim Fibres GmbH, Grasim Industries Ltd., Fulida Group Holdings Co. Ltd., China Bambro Textile Group Co. Ltd., CFF GmbH & Co., CreaFill Fibers Corporation, International Paper, and Grupo Sniace.
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These key players have controlled the market the market and are devoted to expansion by using several strategies such as mergers and acquisitions prioritize the product portfolio of the global man-made cellulosic fibers market. Such as Sateri acquired Jiangsu Xiangsheng Viscose Fiber Co. Ltd in April 2019. Establishment of e-commerce of product goods is also a strategy used by the competitors to expand their market thus improving the overall market growth.
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