Lyocell Fiber Market Analysis: Global Industry Trends, Share, Key Players, Size, Forecast To 2024
Date: 2018-09-11   Author: Ronak Bora  Category: #market

Lyocell Fiber Market Analysis: Global Industry Trends, Share, Key Players, Size, Forecast To 2024

 

Lyocell Fiber Market size will reach over USD 1.5 billion by 2024; according to a new research report. Fashion trends have changed rapidly over the past few years and will continue to do so in the coming years, which will drive the industry growth.

Modern technology and fibers have been developed which have escalated the use of better quality materials and has driven the lyocell fiber marker demand. Brands have started focusing on fibers that can be recycled and can be reused after the end of a product?s lifecycle. Government initiatives have been taken to adopt sustainable fibers for textile and apparels industry. The apparels segment in North America accounted for a major chunk of the product share (over 40%) in 2016.

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The environment friendly production process of the material also acts as a major driver to boost the lyocell fiber market. There has been a significant impact through social media on the apparel segment, which in turn has positively influenced the industry. The petrochemical fibers have been substituted by cellulosic man-made fibers, which has spurred the product adoption in the manufacturing processes.

The pressure on synthetic fiber manufacturers has increased due to the increasing demand for naturally derived fibers. The product finds its application in various segments such as baby diapers, home textiles, apparels, automotive filters, surgical products and many more. The healthcare and wound care textiles segment is likely to grow at a robust pace, owing to the evolving technologies for recovery of surgical wounds, thus propelling lyocell fiber market.

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Despite numerous opportunities, lyocell fiber market will face challenges due to its expensive pricing compared to the eco-friendly alternatives. Extra caring of delicate fabrics such as cold rinse, hand wash, and dry-clean can increase the maintenance costs as well. Also, the product shrinks up to 3% after the first wash. These factors will act as lyocell fiber market restraints in the coming years. Cellulose fibers are used for the manufacturing of superior quality textiles which have boosted the lyocell fiber market. The fiber is biodegradable, natural in nature and economical in use which is obtained from natural cellulose found in wood pulp.

Also, the fabric has natural breathability and with a superior moisture absorption capacity than cotton. Moreover, due to its moisture management properties, lyocell is also anti-bacterial in nature. These properties will open new growth avenues in various new products for lyocell fiber market in coming years. The Asia Pacific market has been penetrated by several baby diaper brands, which will give a thrust to the lyocell fiber market. Rising disposable income of people in Asia Pacific has led to a high demand for baby diapers, which has augmented the product market growth. The region will grow with a substantial CAGR of approximately 8% by 2024.

Europe will account for over 12% of the market share in 2024 due to presence of viable cost-effective substitute materials and their growing popularity over lyocell fibers, majorly in the apparels segment. Some of the major industry players in lyocell fiber market include Lenzing AG, Baoding Swan Fiber Co, Acegreen Eco-Material Technology, China Populus Textile, Chonbang, Qingdao Textiles Group Fiber Technology, Acelon Chemicals & Fiber Corporation and smartfiber AG.



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Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for AlgosOnline and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport.

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