Dissolving Pulp Market to Reach US$ 5,540.34 Million by 2023
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| Dissolving Pulp Market |
Market Overview:
The global Dissolving Pulp Market is estimated to be valued at US$ 5,540.34
million in 2023 and is expected to exhibit a CAGR of 3.3% over the forecast
period 2023-2032, as highlighted in a new report published by Coherent Market
Insights. Dissolving pulp is a type of wood pulp that is widely used in the
textile industry for manufacturing viscose rayon and cellulose derivatives. It
is also utilized in the production of various products such as cellophane,
film, pharmaceuticals, and food additives. The increasing demand for
cellulose-based products, along with the growing textile industry, is expected
to drive the market growth for dissolving pulp during the forecast period.
Market Key Trends:
One key trend in the dissolving pulp market is the growing adoption of
dissolving pulp for sustainable textile production. With the increasing focus
on sustainability and environmental concerns, there is a rising demand for
eco-friendly and sustainable textile products. Dissolving pulp offers several
advantages, such as renewable and biodegradable nature, which makes it an ideal
choice for sustainable textile production. Additionally, dissolving pulp is
known for its high-quality cellulose content, which enhances the properties of
textile fibers, such as strength, absorbency, and color retention. This trend
is expected to drive the demand for dissolving pulp in the textile industry,
thereby fueling market growth over the forecast period.
Segment Analysis:
The dissolving pulp market can be segmented based on type and application.
In terms of type, the market can be divided into hardwood pulp and softwood
pulp. Hardwood pulp is expected to dominate the market during the forecast
period. This can be attributed to the superior quality, strength, and
versatility of hardwood pulp compared to softwood pulp. Hardwood pulp is
extensively used in the production of rayon fibers, which find applications in
textiles, medical supplies, and other industries. The rising demand for rayon
fibers in these sectors is driving the dominance of hardwood pulp in the
dissolving pulp market.
On the basis of application, the market can be categorized into textiles,
filament, cellophane, and others. The textile segment is anticipated to be the
dominant sub-segment. This is due to the growing demand for fabrics made from
dissolving pulp-based fibers, such as rayon, viscose, and lyocell. These fibers
offer various advantages such as breathability, moisture management, and
comfort, which make them highly desirable in the textile industry.
Additionally, the increasing consciousness for sustainable and eco-friendly
textiles is further fueling the demand for dissolving pulp in the textile
segment.
Key Takeaways:
The global
dissolving pulp market is expected to witness high growth, exhibiting a
CAGR of 3.3% over the forecast period of 2023-2032. The market is driven by the
increasing demand for rayon fibers in various industries, including textiles,
medical supplies, and others. The superior quality and versatility of hardwood
pulp are propelling its dominance in the dissolving pulp market.
In terms of regional analysis, Asia Pacific is projected to be the
fastest-growing and dominating region in the dissolving pulp market during the
forecast period. This can be attributed to the rapid industrialization and
urbanization in countries like China and India, which are driving the demand
for dissolving pulp-based fibers. The rising population, increasing disposable
income, and changing consumer preferences towards sustainable textiles are
further contributing to the growth of the dissolving pulp market in this
region.
Key players operating in the dissolving pulp market include Sappi Limited,
Rayonier Inc, Nippon Paper Industries Co., Ltd., Bracell, Tembec Inc., The
Lenzing Group, Aditya Birla Group, Phoenix Pulp & Paper Public Co., Ltd.,
Sun Paper Group, and Yueyang Forest & Paper Co Ltd. These companies are
focusing on strategic partnerships, mergers and acquisitions, and product
innovations to strengthen their market position and meet the growing demand for
dissolving pulp worldwide.
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