According to a new market report published by Credence Research “Global Lyocell Fiber Market Growth, Future Prospects and Competitive Analysis, 2017 – 2025,” the Lyocell Fiber market is expected to expand at a CAGR of 8.9% from 2017 to 2025. Increasing demand for lyocell fibers in apparel applications spurs the market growth.
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Lyocell fiber is a form of regenerated cellulose fiber obtained by bleaching wood pulp. U.S.— The Federal Trade Commission (USFTC) further described lyocell as a fiber made up of cellulose by precipitating it from an organic solution which does not lead to the formation of any chemical intermediates. Lyocell fiber clothing stays odor-free even after several wears and is much stronger than cotton. Lyocell was stronger than other ray fibers and found increased prominence in non-woven products such as surgical products, home textiles and baby diapers, increasing demand for Lyocell in the forecast years. Today, lyocell fibers are commonly used in casual and corporate clothing due to the fact that lyocell has the same characteristics as cotton. The improved super-absorbent, smooth and silk properties of these fibers have further increased their demand for hygienic goods such as wipes and diapers, rising market growth.
Applications for the apparel segment are projected to dominate market growth. Changing fashion trends have increased the adoption of lyocell fibers in high-quality textile manufacturing. In addition, the superior properties of Lyocell compared to cotton such as natural breathability, biodegradability and improved moisture absorption properties have increased its use in clothing. In addition, Lyocell fibers products are marketed as natural and healthy on social media, leading to increased acceptance among young people concerned with “green” wearing. This has also proved to be the main driver of demand for eco-friendly fibers, such as lyocell fibers.
Lyocell market structure is characterized by the presence of few key players which are not vertically integrated. For instance, Lenzing AG do not manufacture their own fibers, they procure lyocell fibers from suppliers for manufacturing clothes. Therefore, market is having low entry barriers and makes it easy for non-integrated players to enter resulting in high competition. Major key players present in the market include Lenzing AG, Chon Bang Company Limited, Smart Fiber AG, Qingdao Textiles Group Fiber Technology Co., Ltd., China Populus Textile Ltd., Akzo Nobel, Weiqiao Textile Company Limited, Aditya Birla Group, and Acelon Chemicals & Fiber Corporation.
Increasing demand for Lyocell fiber based home textiles.
Rising prominence of eco-friendly textiles.
Asia Pacific offers huge potential for apparel manufacturing of Lyocell fibers.