Global Lyocell fiber market to reach USD 1305 by 2024

The market has been bifurcated on the basis of product type into staple fibre and cross-linked fibre. Amongst these, staple fibres are majorly preferred owing to their longer average fibre length which are easier to process and produce even yarns.

Lyocell is a type of man-made fibre derived from the cellulose of bleached wood pulp. Popularly known as the third-generation cellulose fibre, lyocell was first developed in 1972 by the process of dry jet-wet spinning. Lyocell fibres are strong but soft, highly absorbent, wrinkle-resistant and capable of replicating an array of textures like leather, suede and silk. Owing to these properties, lyocell fibres are utilized for manufacturing a wide range of products such as clothes, bedsheets, carpets, curtains, sportswear, surgical equipment, medical gloves, etc.

According to a recent research report by IMARC Group entitled 'Lyocell Fiber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, estimates that the global lyocell fibre market was worth around US$ 941 Million in 2018.

Global Lyocell Fiber Market Drivers

Nowadays, lyocell fibres are being preferred over other types of fibres, such as cotton and rayon, on account of their tenacity and absorption efficiency. Owing to this, they are widely used in the apparel and home textile industries. Apart from this, the usage of lyocell fibre has gained popularity among the manufacturers due to increasing demand for eco-friendly and biodegradable cellulose fibres. The fabrics made from lyocell can be easily disposed of by landfilling, sewage digestion or incineration after usage. Further, unlike synthetic fibres which require toxic solvents, the production of lyocell fibers includes non-toxic solvents such as amine oxide. Additionally, as lyocell fibers are free from any toxic compounds, they are preferred for the production of medical-grade non-woven products. These fibers are also suitable for sanitizing wipes and overnight bleaching in the food service sector. Owing to the aforementioned factors, the market is further expected to reach a value of around US$ 1,305 Million by 2024, exhibiting a CAGR of 5.6% during 2019-2024.

Global Lyocell Fiber Market Summary

• The market has been bifurcated on the basis of product type into staple fibre and cross-linked fibre. Amongst these, staple fibres are majorly preferred owing to their longer average fibre length which are easier to process and produce even yarns.
• Based on application, apparel accounts for the majority of the market share, representing the largest segment. This can be attributed to the softness, wet strength and high absorbent properties of lyocell fibre. Apart from apparel, other major applications include home textiles, medical and hygiene, and automotive filters.
• On the basis of geography, the market has been segregated as Europe, Asia Pacific, Latin America, North America, and the Middle East and Africa. Currently, Asia Pacific represents the leading market due to the flourishing textile industry and improving standards of living.
• The competitive landscape of the market has also been analysed with some of the key players being Aditya Birla Group, Baoding Swan Fiber Co. Ltd., Lenzing AG, Acegreen Eco-Material Technology Co., Ltd., Acelon Chemicals & Fiber Corporation, Chonbang Co., Ltd., Weiqiao Textile Company Limited, China Populus Textile Ltd., Great Duksan, Zhejiang Yaojiang Industrial Group, Qingdao Textiles Group Fiber Technology Co., Ltd., and Smartfiber AG.

(With inputs from IMARC Group)