The new report by Expert Market Research titled, ‘Global Lyocell Fibre Market Analysis, Growth, Share, Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the global lyocell fibre market, assessing the market based on its segments like products, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Value (2020): USD 996 Million
• Forecast CAGR (2023-2028): 5.4%
• Forecast Market Value (2026): USD 1365.6 Million
Because of its booming textile industry and the enhancing living standards, the Asia Pacific is currently one of the leading markets for lyocell fibre. The growing demand for biodegradable cellulose fibre is propelling the global lyocell fibre market forward. As people get more concerned about the climate, the demand for the commodity is growing all over the world.
Lyocell fibre is used in a variety of industries, such as apparel, textiles, medicine, and paper and pulp. It is used as a replacement for cotton and silk in sportswear, jackets, bed linens, jeans, T-shirts, trousers, and towels due to its flexibility. It is suitable for surgical dressings because of its high absorbency profile.
Lyocell Fibre Industry Definition and Major Segments
Lyocell fibre is a man-made fibre made from cellulose extracted from bleached wood pulp. It was first formulated in 1972 and is known as the third-generation cellulose fibre. Lyocell fibres are known for being solid yet soft, wrinkle-resistant, highly absorbent, and capable of imitating a variety of fabrics, such as suede, leather, and silk.
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The market is segmented based on products into:
• Staple Fibre
• Cross-Linked Fibre
By application, the market is segmented into:
• Home Textiles
• Medical and Hygiene
• Automotive Filters
The regional markets for the product include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Lyocell Fibre Market Trends
The widespread use of lyocell fibre in the clothing and home garment industries is driving the global lyocell fibre industry growth. This is due to their tenacity and absorption ability, which is why they are favoured over other fibres such as cotton and rayon.
Furthermore, as the market for environmentally safe and biodegradable cellulose fibres grows, manufacturers are increasingly turning to lyocell fibre. Several other considerations help the sector, such as the fact that it can be quickly disposed off by landfilling, sewage digestion, or burning after use.
Furthermore, since lyocell fibres do not contain any poisonous substances, they are suitable for making medical-grade non-woven goods. These factors are expected to propel the market growth in the coming years.
Key Market Players
The major players in the market are Lenzing AG, Acegreen Eco-Material Technology Co., Ltd., and Smartfiber AG, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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