Over the next few years, the global lyocell fiber market will be driven by rising demand and ongoing textile manufacturing innovations. Moreover, the consumers' disposable income in the country has increased which is why they are spending more on home textiles and personal apparel. Moreover, the increased inclination of consumers towards biodegradable and sustainable fibers has largely boosted the demand for the lyocell fiber. As a result, lyocell fiber market is estimated to have an accelerated pace of growth over forecasted period.
Global Lyocell Fiber Market was valued at USD 1.13 billion in 2021 and is expected to reach USD 2.00 billion by 2029, registering a CAGR of 7.39% in 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
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Market Definition
Lyocell fiber is basically a type of rayon made from cellulose-containing bleached wood pulp, also known as dissolving pulp. Other cellulose fibers, such as ramie, linen, viscose rayon, and cotton, have similar properties to lyocell. It's light, absorbent, breathable, soft, wrinkle-resistant, and durable, and it can mimic a variety of textures such as silk, leather, and suede. It's also dye able in a variety of colors. It is used in various industries, including the fashion, textile, medical, paper, and pulp industries. Lyocell fiber is used as a substitute for cotton and silk to make sportswear, shirts, bed linens, denim, t-shirts, pants and towels, due to its versatility.
Global Lyocell Fiber Market Scope
The lyocell fiber market is segmented on the basis of type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Staple Fibers
- Cross-linked Fibers
Application
- Apparel
- Sportswear
- Denims
- Others
- Home Textiles
- Curtains
- Carpets & Upholstery
- Beddings
- Towels
- Others
- Medical
- Footwear
- Others
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Lyocell Fiber Market Regional Analysis/Insights
The lyocell fiber market is analyzed and market size insights and trends are provided by country, type and application as referenced above.
The countries covered in the lyocell fiber market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the lyocell fiber market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the presence of a notable manufacturing base of the textile and automotive industry.
Europe on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the increasing focus on research and development (R&D) activities for the development of cost-effective lyocell fibers within the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Lyocell Fiber Market Share Analysis
The lyocell fiber market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to lyocell fiber market.
Some of the major players operating in the lyocell fiber market are
- Lenzing AG (Austria)
- Aditya Birla Management Corporation Pvt. Ltd. (India)
- Nien Foun Fiber Co., Ltd. (Taiwan)
- CHONBANG Co., LTD. (South Korea)
- Weiqiao Textile Company Limited (China)
- Acelon Chemicals & Fiber (China)
- smartfiber AG (Germany)
- Shangtex Holding Co., Ltd (China)
- Zhejiang Province Yaojiang Industry Group Co., Ltd.(China)
- ACEGREEN ECO-MATERIAL TECHNOLOGY CO., LTD. (Taiwan)
- Baoding swan Fiber Co., Ltd. (China)
- DUKSAN COMPANY (South Korea)
- INVISTA (U.S.)
- Grasim Industries Limited (India)
Lyocell Fiber Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- High Utilization of Lyocell Fiber
Lyocell fabric is used in a variety of industries, such as fashion, textiles, medical, and paper and pulp. Due to its versatility, Lyocell fibre is used as a substitute for cotton and silk in sportswear, shirts, bed linens, denim, T-shirts, trousers, and towels. It is ideal for medical dressings because of its high absorbency profile. Therefore, the high usage of the lyocell fabric is estimated to accelerate the market growth.
- High Demand due to Eco-Friendliness and Sustainability
Aside from that, as environmental concerns grow, the demand for lyocell fibre is increasing around the world. Lyocell fabric was a turning point in the evolution of environmentally friendly and sustainable textiles. It is a man-made fibre made from wood pulp. It's a cellulosic fibre made through the solvent spinning process. The natural polymer cellulose can be found in the cells of plants. Hardwood trees provide cellulose for lyocell fibre production. Water, solvent, and a finishing agent are among the other ingredients used in the process. Fabrics get a lot of luster and color depth from this product. Thus, its main component, cellulose, comes from well-managed forests, and its manufacture produces no harmful by-products for human health or the environment. As a result, the demand for the lyocell fabric is estimated to have skyrocket over forecasted period.
The increasing awareness about the advantages of lyocell fibre such as lightweight, absorbent, breathable, wrinkle-resistant, durable, soft, capable of replicating a range of textures like silk, leather and suede, and can also be dyed in various colors, which will further propel the growth rate of lyocell fiber market. The rising demand for high-quality clothing will boost the lyocell fibre market's revenue.
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Opportunities
- Technological Advancements and Environmental-Friendly Practices
Furthermore, technological advancements have enabled lyocell fiber production using advanced N-methyl morpholine-N-oxide (NMMO) technology, which is a simple, resource-conserving, and environmentally friendly method of cellulose fibre regeneration. This factor is projected to extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, to obtain organic certification, manufacturers are using natural practices to produce lyocell and eliminating the use of chemicals in the process, which provides market growth opportunities.
Restraints/Challenges
- High Costs
The production procedure of the lyocell fibre is very costly, which further increases the overall cost of the product. Moreover, the processing lyocell fibers requires time and energy, which cannot be combined with a profit motive. The other fabrics production costs are less as compared to lyocell fiber, therefore the high cost of lyocell fibre production is a major hurdle for the market growth.
- Disadvantages of Lyocell Fibre
Although the lyocell is compostable when used alone, it is not compostable when combined with other synthetic fibres. Lyocell is made with a lot of energy. Because Lyocell is a delicate fabric, we recommend washing it cold and not drying it. Therefore, this factor will challenge the lyocell fiber market growth rate.
Furthermore, market growth may be hampered by a failure to use advanced technology in the production of lyocellular fibres, a lack of awareness, and underdeveloped sales channels.
This lyocell fiber market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the lyocell fiber market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
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