Lyocell Fiber Industry Background
Lyocell fiber has been a milestone in the evolution of eco-friendly and sustainable textiles. It is man-made fiber derived from wood pulp. It is a cellulosic fiber manufactured by the process of solvent spinning. The cellulose is a natural polymer which is found in the cells of the plants. For lyocell fiber production, cellulose is derived from hardwood trees. Other ingredients involved in the production include water, solvent and a finishing agent. The product imparts excellent luster and color depth to fabrics. The increasing demand for superior quality garments will positively influence the lyocell fiber market growth.
Lyocell Fiber Industry Overview
Lyocell Fiber Market will reach over USD 1.5 billion by 2024; according to a new research report by Global Market Insights, Inc.
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. 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.
Lyocell Fiber Industry By Product
The lyocell fiber market can be bifurcated into staple fiber and cross-linked fiber. The staple fiber has several applications in towels, denim, casual wear, etc. It can be easily separated into fibrils. Cross-linked fiber has low fibrillation capacity, which makes it resistant to regeneration process, thus, making it unsuitable feedstock for the processes.
Lyocell Fiber Industry By Region
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. India and China will witness a soaring demand for baby diapers, owing to the high birth rates and rising awareness about pediatric hygiene. Indonesia has witnessed expansion of non-woven market which will accelerate the product market growth in the forecast period.
Clothing and textiles is a diverse sector in Europe and has been subjected to technological transformations. Non-woven fabrics for automotive industry and medical sector have been produced in massive quantities in Europe, which will positively influence the lyocell fiber market. 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.
Competitive Lyocell Fiber Industry Share
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.
Source – https://www.gminsights.com/industry-analysis/lyocell-fiber-market