Lyocell Fiber Market Trends, Statistics, Growth, and Forecasts
The global Lyocell fiber is valued at $975.2 million during 2020 and is forecast to register a growth of 7.13% between 2021 and 2026. Based on application, the market is dominated by Apparel with 45.1% market share during 2020. Geographically, Asia Pacific remains the market leader with 53.5% market share, dominated by Chinese consumption in 2020. On the growth front, North America is estimated to be the fastest growing region with a CAGR of 7.24% 2021-2026
Growing demand for Biodegradable and pleasant feel on the skin (Skin-friendly) Fabrics is encouraging cellulose fibers to rapidly penetrate into petrochemical fibers market. Strong demand increase from emerging economies coupled with foray of several small and medium scale manufacturers is driving the market growth. However, volatility in raw material prices and limited awareness pose challenges for cellulose fiber market growth.
Disposable nature of lyocell fabrics, absence of toxic solvents during the manufacturing process presents strong support for these fibers. Comparatively, synthetic petroleum based fabrics are not biodegradable and involve toxic solvents in the manufacturing process. Lyocell fiber has significant advantages compared to other cellulosic staples. The eco-friendly fabric is 100% biodegradable and has strong advantages such as eco print, high fibers' absorbency, moisture absorption, smooth and soft surface. Further, the Lyocell fiber dry and wet tensile strength is superior to other human made cellulosic staples. In addition, Lyocell’s smooth fiber surface is soft and supple against the skin and is one of the most suitable fabric for sensitive skin. Further, high durability and versatile nature of the fiber provides strong support for lyocell fiber market.
The lyocell fabric manufacturing industry is highly competitive with presence of a large number of small and medium scale players. A significant number of companies in Asian countries are capable of supplying lyocell fibers at low prices, which poses significant challenges to European and American companies. Further, the industry is also witnessing increased foray of new players, driving down the profits of existing vendors. Accordingly, large players in developed countries are focusing on product differentiation, widening scope of applications and offering value added lyocell fiber textiles.
Economic factors such as an increase in per capita income and raise in GDP of the nations are also key factors driving the demand for Lyocell fibres in home textiles. In addition, the increased durability of the fabrics is expected to be an opportunity for industrial growth. The presence of renowned textile manufacturing industries across emerging nations such as China, India, Bangladesh and others coupled with the increased efforts of the governments to increase the production volumes is also set to drive the market demand. Increase in the purchase of household equipment such as couches, furniture and others are expected to drive the demand for household textiles. Customer preferences towards interior decorations and designs of interiors are expected to increase the demand for household textiles owing to their luxurious and prestigious lifestyles.
United States Lyocell Fiber market is estimated to have a stronger headway in coming years due to the rising apparels and clothing manufacturing both in retail and wholesale volume sales for Lyocell Fiber products. Moreover, Interior furnishings including Carpeting and Upholstery, Home textiles such as Bed spreads, Bed mattresses & lining products, Towels and others are increasingly being adapted for their softness, thermal regulation and moisture absorption. Rising preference for skin sensitive, non–allergen and environment friendly fibers are the key factors accelerating Lyocell Fiber market growth. Luxury apparels and outfits, including lingerie and sleepwear being vibrant in color and prolong withstand for dyes are among the key Lyocell Fiber products consumed in the country. Durability, Enhanced breathing and high strength of Lyocell Fibers makes it a major raw material for the Foot Wear Industry. These fibers are extensively used in the manufacturing all parts of Shoes including posterior fabric, lining, insoles and outsoles, zipper, laces and others. Followed by, the Active and Sportswear sector is also being influenced by Lyocell Fibre for its microscopic fabrication, providing cool and pleasant garments.
Table Of Contents
1. Research Methodology and Scope
2. Market Overview
3. SWOT Analysis of Agriculture Market
4. Agriculture Market
5. Commodity Price Analysis
6. Production and Consumption Analysis
7. Agrochemicals Market Analysis
8. Trade (Import-Export Analysis)
9. Regional Agri Market Analysis
10. Global Agriculture Market Analysis