Cellulose Market Analysis by Derivative Type (Commodity Cellulose Pulp, Cellulose Fibers, Cellulose Ethers, Cellulose Esters, Microcrystalline Cellulose, and Nanocellulose); and by End-Use Industry (Textile, Food, Chemical Synthesis, Pharmaceuticals, Construction, Paper & Pulp, and Paints & Coatings) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033
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The global cellulose market is estimated to garner a revenue of ~USD 61 Billion by the end of 2033 by growing at a CAGR of ~10% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 36 Billion in the year 2022. The growth of the market can be attributed by growth in pulp & paper industry. The pulp and paper industry refer to the two major uses of pulp which is extracted from natural and artificial sources. For instance, global paper output hit a record peak in 2021 of about 410 Mt, an approximate 3% rise from 2020, after three years of mild decline from 2018 to 2020.
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The pulp is then used in manufacturing sanitary pads and diapers. Hence rise in purchase of sanitary pads and diapers are further estimated to boost the growth of the market over the forecast period. India sold approximately 4 billion sanitary napkins in total in 2016. This is anticipated to nearly treble to about 9 billion pieces sold by 2021.
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
~10% |
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Base Year Market Size (2022) |
~USD 36 Billion |
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Forecast Year Market Size (2033) |
~USD 61 Billion |
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Regional Scope |
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Growth Drivers
Growing Use of Diapers- According to an estimate, a newborn that wears an average of about more than 9 diapers each day for the first month of his life may go through as many as about 299 diapers overall.
Cellulose is used to make diapers. The diaper's cellulose core is used to absorb liquids. It provides the diaper with strong absorption capabilities. In addition to having a high fibre to weight ratio, the pulp also has a low level of coarseness and short fibres. Therefore, it is predicted that this factor would accelerate market expansion.
Growth in Construction Industry- With world population touching 8 billion, the requirement for new and better homes is continuously rising. It is estimated that, by 2025, the Indian construction market is anticipated to grow to approximately USD 2 Tn.
Robust Growth in Personal Care Industry- Approximately 160 million people, or 70% of American women, use cosmetics on a daily basis, spending an average of USD 14,000 on them over the course of their lifetime.
Surge in Demand for Forest-Based Textile Fibers- The market climate is shifting in favour of forest-based fibres due to factors such as a lack of land for expanding cotton production, environmental concerns regarding cotton and new technology for extracting fibre from wood. When compared to 2018, the yearly production of wood-based textile pulps would increase by 15 Mt in 2035.
Significant Growth in Automotive Industry- The automotive sector is expected to continue to expand, owing to rising incomes. The advent of electric vehicles is also expected to cause positive changes in the sector. By 2030, the EV market is anticipated to reach approximately 9 million annual sales, growing at a CAGR of about 50% between 2022 and 2030.
Challenges
The cellulose market is segmented and analysed for demand and supply by end-use industry into textile, food, chemical synthesis, pharmaceuticals, construction, paper & pulp, and paints & coatings. Out of which the paper & pulp segment is anticipated to garner the largest revenue by the end of 2033, backed growing consumption of paper and pulp. In 2021 approximately 400 million tonnes of paper and paperboard were consumed worldwide. The expected increase in consumption over the next ten years is expected to bring it to about 470 million tonnes by 2032.
The Asia Pacific cellulose market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033, owing to growth in chemical synthesis industry in this region. Chemical synthesis is also used in making of synthetic food. Hence growing consumption of synthetic food is further expected to boost the market growth in this region. Food ingredients that have been chemically transformed into edible items are used to make synthetic food. Proteins, carbs, lipids, vitamins, trace elements, cells, and even air are used by scientists in laboratories to make food. Also, there has been growing investment in manufacturing synthetic food. Companies in India harnessing synthetic biology to upend the agro-food systems have seen an increase in investment. In these businesses, an approximately 5 billion was invested in 2021, which is equal to the total amount of money invested over the previous ten years. Nearly 4 billion was invested in firms that use synthetic biology to create food goods like dairy substitutes and meat analogues.
Our in-depth analysis of the global cellulose market includes the following segments:
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By Derivative Type |
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By End-Use Industry |
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Sappi Limited
Anhui Guozhen Group, a Chinese green energy company, Chemtex Chemical Engineering, a global engineering firm, and Clariant, a focused and forward-thinking speciality chemical company, have inked a licencing agreement on sunliquid cellulosic ethanol technology.
Bracell's new factory, Project Star produced the first cellulose sheet to kick off business operations and begin the company's learning curve. The company's audacious growth plan in the State of So Paulo, which would diversify and boost the plant's output to 1.5 million tonnes of soluble cellulose or up to 3 million tonnes of kraft cellulose annually, was made possible by the startup. The company has started operations and is now the largest manufacturer of soluble cellulose in the world.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: The major factors driving the growth of the market growing use of diapers, growth in construction industry, robust growth in personal care industry, and other.
Ans: The market is anticipated to attain a CAGR of ~10% over the forecast period, i.e., 2023 – 2033.
Ans: Availability of substitute in the market, rise in market volatility, and decline in corporate confidence are some of the major factors expected to hinder the growth of the market.
Ans: The market in Asia Pacific is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.
Ans: The major players in the market are Sappi, Ryam, Birla Cellulose, Thai Rayon Public Company Limited, and more.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by derivative type, end-use industry, and by region.
Ans: The paper & pulp segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
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