Lyocell Fiber Market Growth: Sustainability and Technological Advancements

lyocell fiber market is estimated to be valued at US$ 1.6 billion in 2023 and it is expected to grow at a CAGR of 11.1% to reach US$ 4.6 billion by the end of 2033. The lyocell fiber has been considered an eco-friendly, biodegradable, multi-faceted fiber derived from wood pulp taken from trees, generally from the eucalyptus, beech, and oak trees. It is known to be super soft, resistant, and breathable; it finds its use in various applications within the textile industry, including apparels, home textiles, and hygiene products. The lyocell fiber segment has been on the rise with the pursuit of environmentally viable textiles and increasing consumer awareness.

Get Free Sample Copy of This Report: https://www.factmr.com/connectus/sample?flag=S&rep_id=5883

Demand for Sustainable Textiles: Increased consciousness among consumers about sustainability increases the demand for materials which are sustainable or eco-friendly and biodegradable, like lyocell. Mounting concerns of environmental damage due to conventional textiles, such as polyester and cotton, have shifted focus on fibers like lyocell that use a closed-loop production method with minimal waste and emissions.

Apparel and Home Textiles Growth: Because of the soft feel, strength, and moisture-wicking characteristics that Lyocell fibers provide, there is a wide range of uses for it in apparel. It is especially in great demand for activewear, casual wear, and intimate wear. Further, in home textiles, it has been used in bedding, curtains, and upholstery with its hypoallergenic and antimicrobial properties.

Technological Improvement: The various technological improvements in the manufacturing process and in the product development of lyocell fibers are driving growth in the market. Better production efficiency, low water utilization, and new fiber innovation with certain special characteristics such as better moisture management and antibacterial elements among others, that enhance the prospects of the market.

Price Sensitivity: While lyocell fiber is friendly to the environment, this alternative fiber remains dearer compared to conventional fibers such as cotton and polyester, among others. Higher production costs, mainly due to the high price of high-quality raw material and intricate manufacturing process, arguably makes this alternative fiber not gaining popularity in price-sensitive markets.

Market Future Outlook

In the wake of increasing environmental awareness, strict government regulations on wastes produced in the textile industry, and a gradual shift toward green fashion by major apparel brands

Key drivers for growth include technological advances in the production of fibers, investments in renewable raw-material sources, and the increase in the number of applications of lyocell fibers in textiles, including medical, automotive applications, and hygiene. It is expected that North America and Europe would have a very strong market position due to the strong demand for sustainable products, while Asia-Pacific, especially China and India, would be the key growth markets due to the awareness related to sustainability and growing textile industries in these regions.

Market Overview

Growing Focus on Circular Economy: In the world today, there is an increasing shift toward a more circular economy where resources are reused and recycled, and waste is minimized. The production of lyocell fibers fits well with this trend because it is produced in a closed-loop production process, hence reducing the environmental impact and emerging as the number one choice for ecological manufacturers.

Increasing Demand for Comfort and Performance: In comfort and high performance, lyocell fiber has emerged as an increasingly growing demand segment in the apparel industry. Lyocell fibers are increasingly being used in high-fashion and activewear applications where features such as moisture management, breathability, and sustainability are a concern.

Asia-Pacific: A Leading Manufacturing Center: The production of lyocell fiber is led by the Asia-Pacific, and mass production is done in China. Driven by the easy availability of raw materials, low labor costs, and encouraging government policies in adopting sustainable manufacturing, the market is driven.

Key Market Players

• Acegreen Eco-Material Co LTD
• Acelon Chemicals & Fiber Corp.
• Baoding Swan Chemical Fiber Groups Co. LTD
• China Populus Textile LTD
• Chonbang Co. LTD
• Grasim Industrial LTD

Competitive Landscape

Lyocell fiber market is fragmented to a reasonable extent. Presently, a few big players, namely Lenzing AG and Aditya Birla Group, have control over the space. However, on the other side, various small-scale players and fresh entrants are swiftly becoming significant players in the business, which is mainly on the aspect of sustainability gaining more weightage in the textiles industry. Businesses are increasingly working towards expanding their product portfolios, increasing production efficiency, and improving upon the sustainability of their operations. This has led key players within this chemical space to form strategic partnerships, mergers, and acquisitions to enhance market presence and geographical reach.

Get Customization on this Report for Specific Research Solutions: https://www.factmr.com/connectus/sample?flag=RC&rep_id=5883

In October 2021, The Lenzing Group is expanding its sustainable offering for the denim industry with the introduction of matte TENCEL branded lyocell fiber. The new fiber type is specifically designed to diffuse light and permanently reduce sheen in denim applications, further increasing the versatility of indigo-dyed denim fabrics.

In a nutshell, growth drivers are from growing demand for sustainable textiles, technological advancement, and increasing application across industries in the case of eco-friendly fibers. The competitive landscape of the lyocell market would evolve quite rapidly in the coming years by focusing highly on innovation and environmental responsibility.

About Fact.MR :

We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client’s satisfaction.

Contact:

US Sales Office

11140 Rockville Pike

Suite 400 Rockville, MD 20852

United States Tel: +1 (628) 251-1583, +353-1-4434-232 (D)

Sales Team: sales@factmr.com