Dissolving Pulp Market Report Overview
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The global dissolving pulp market size is anticipated to be USD 5563.7 million in 2021 and is projected to touch USD 7387.19 million by 2031, at a CAGR of 3.2% during the forecast period.
Dissolving pulp containing high cellulose of more than 90 % and largely used in textile products such as high-quality rayon or Tencel textile. The application of this product is not confined to the uses of the textile industry as in recent times cigarette industry, beauty and packaging industry have created opportunities for higher revenue generation.
The textile industry is one of the in-demand fastest growing sectors across the globe. Textile production is progressing towards sustainable development as it is being favoured and embraced by more people in the present times. Dissolving pulp properties and broad application will be a major driving factor in the growth of the market in the forthcoming year.
COVID-19 Impact: Slow Growth of End-User Industries to Hamper the Market Demand
The global COVID-19 pandemic has been unprecedented and staggering, with the dissolving pulp market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The spike in CAGR is attributable to the dissolving pulp market growth and demand returning to pre-pandemic levels once the pandemic is over.
The textile industry slumped during the pandemic times and suffered a massive loss. The surge in the COVID-19 cases has resulted in global lockdowns affecting the supply and logistics and the availability of raw materials in the market. Production came to a sudden halt due to the shutdowns of manufacturing units and the lack of human resources. Although, the cigarette did not see a massive change in the market, however, due to the raised health consciousness and government regulation it too went through a low phase. The low demands from the end user market have hampered the dissolving pulp market demand. However, as the normalization process is in full swing the market is returning to normal increasing the chances of high growth.
LATEST TRENDS
"Continuous Developments and Integration of Advanced Technology to Propel the Market Demand"
The key organization associated with the production of dissolving pulp is focusing on the research and developments to widen the application base of these products as it has the potential for higher market growth. The latest technology has been incorporated into the production of highly efficient products. The packaging industry is creating growth opportunities for the dissolvable pulp market. The sector is in the need of new product launches and consistent developments will strengthen the market and eliminate the existing threat from alternative products.
Dissolving Pulp Market Segmentation
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- By Type
Based on type, the market is divided into eucalyptus-type, pinewood type and other types. The Eucalyptus type is expected to lead this segment in the forecast period.
- By Application
Based on the application, the market is divided into viscose, cellulose acetate and cellulose ether and others. The viscose sector is anticipated to lead this segment in the upcoming years.
DRIVING FACTORS
"Increasing Demand for Sustainable Renewable Products to Accelerate the Product Sale"
The ongoing technological evolution and unregulated utilization of natural resources are leading to environmental depletion and causing major climate changes affecting millions of people globally. The primary motive of sustainable development is to provide the resources to meet the demands of the present population without harming the ecological balance. The government and people are slowly becoming aware of protecting natural resources to ensure the well-being of the future generation. Not only does it protect the environment but also improves the economic condition of the nation, and energy security and provides easy access to affordable, reliable energy resources to people. All industries are compelled to adhere to stringent regulations and implement an eco-friendly production unit. Dissolving pulp offers high sustainability and has high cellulose content. It is witnessing a great demand across various sectors due to its natural properties and as a replacement for other raw materials. Thus, all these factors are contributing to the dissolving pulp market growth in the forecasted period.
"Diverse Application of Dissolving Pulp to Boost the Dissolving pulp Market Demand"
The dissolving pulp application is not limited to one sector but in recent times it has seen a spike in demand across various industries. It is extensively used in the production of fabric. Dissolving pulp is considered an alternative to cotton. It is predominantly used to produce rayon yarns for tire cords, and rayon staples for high-quality fabrics. The textile industry is the major application for the dissolving pulp market. The cigarette industry is another end-user market triggering the growth of dissolvable pulp. The cigarette industry has seen a huge surge in the demand owing to its high consumption. The latest survey has found that more than 22.3% of the global population consumes tobacco. Dissolvable pulp is used as a filter in a cigarette. Apart from these, it has its uses in the beauty and pharmaceutical industry. The quality of the pulp is modified to meet desired functional requirements of various end-user industries. The increased applications and the growth of the end-user market are triggering the dissolving pulp market share in the upcoming years.
RESTRAINING FACTORS
"High Price and Availability of Alternative Products to Hamper the Market Growth"
The dynamic structure of the market accompanied by the recent healthcare havoc and geo-political tension has resulted in the increased price of raw materials. The high price of the products along with a difficult supply logistic structure is creating a problem in many parts of the world. Furthermore, the past decade has witnessed a massive surge in the demand for polymers which is taking over the textile industry. The easy availability of alternative products in the market is another major restraining factor. The paper grade pulp producer is shifting towards the production of dissolving pulp which might result in overcapacity and changes in price structure.
Dissolving Pulp Market Regional Insights
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"North America to Dominate the Market due to Growth of the End-User Market in the Region"
North America has the economic advantages to support large-scale manufacturing units and invest in research and developments. The population expansion and the rising demands from the consumer have improved the end-user market in this region. The textile industry has seen an upward trend and the consumption of cigarettes has led to the expansion of the dissolving pulp market size in this region. The presence of key players has majorly contributed to the growth of dissolving pulp market in the region.
KEY INDUSTRY PLAYERS
"Market Players Focus on New Product Launches to Strengthen Market Position"
Leading players in the market are adopting various strategies to expand their presence in the market. These include R&D investments and the launch of new, technologically-advanced products in the market. Some companies are also adopting strategies such as partnerships, mergers, and acquisitions to strengthen their market position.
List of Market Players Profiled
- Rayonier (U.S.)
- Bracell (Brazil)
- Tembec (Canada)
- Lenzing (Austria)
- Fortress Paper (Canada)
- Aditya Birla (India)
- Phoenix Pulp & Paper (Thailand)
- Nippon Paper (Japan)
- Sun Paper (U.K)
- Yueyang Paper (China)
- Qingshan Paper (China)
- Shixian Paper (China)
- Nanping Paper (China)
- Sappi (South Africa)
- Neucel (Canada)
REPORT COVERAGE
This report covers the analysis of the dissolving pulp market providing a comprehensive market insight focusing on the existing key players who would play a crucial role in the forecasting period. It also analyses based on segmentation, industrial developments, trends, growth, size, share, restraints and revenue. The report covers an overview of the latest driving factor in the industry, dominant region, latest innovations and opportunities.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 5.5637 Million in 2021 |
Market Size Value By |
US$ 7387.19 Million by 2031 |
Growth Rate |
CAGR of 3.2% from 2021 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types & Application |
Frequently Asked Questions
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What value is the global dissolving pulp market expected to touch by 2031?
The global dissolving pulp market is expected to reach USD 7387.19 million by 2031.
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What CAGR is the market expected to exhibit by 2031?
The dissolving pulp market is expected to exhibit a CAGR of 3.2% by 2031.
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Which are the driving factors of the dissolving pulp market?
The increasing demand for sustainable renewable products and the diverse application of dissolving pulp are the driving factors in the dissolving pulp market.
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Which are the top companies operating in the dissolving pulp market?
Rayonier, Bracell, Tembec, Lenzing, Fortress Paper, Aditya Birla, Phoenix Pulp &Paper, Nippon Paper, Sun Paper, Yueyang Paper, Qingshan Paper, Shixian Paper, Nanping Paper, Sappi and Neucel are the key company operating in the dissolving pulp market.