Lyocell Fiber Market by 2024 - Analyzed by Type, End-user and Geography – IMARCGroup.com

NEW JERSEY, Wash. - May 28, 2019 - PRLog -- In the past few years, the global lyocell fiber market has witnessed a healthy growth. This can be accredited to the advantageous properties offered by lyocell fiber such as high strength, durability, resistance to wrinkles, dry and wet tenacity, and environment-friendly nature.

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A new research report by IMARC Group, entitled "Lyocell Fiber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023", estimates that the global lyocell fiber market (https://www.imarcgroup.com/lyocell-fiber-market) was worth around US$ 891 Million in 2017. Lyocell is a type of man-made fiber derived from the cellulose of bleached wood pulp. Popularly known as the third-generation cellulose fiber, lyocell was first developed in 1972 by the process of dry jet-wet spinning. Lyocell fibers 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 fibers are utilized for manufacturing a wide range of products such as clothes, bedsheets, carpets, curtains, sportswear, surgical equipment, medical gloves, etc.

Global Lyocell Fiber Market Drivers:

Nowadays, lyocell fibers are being preferred over other type of fibers, 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 fiber has gained popularity among the manufacturers due to an increasing demand for eco-friendly and biodegradable cellulose fibers. The fabrics made from lyocell can be easily disposed by landfilling, sewage digestion or incineration after usage. Further, unlike synthetic fibers 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 about US$ 1,250 Million by 2023, exhibiting a CAGR of nearly 6% during 2018-2023.

Global Lyocell Fiber Market Summary:

• The market has been bifurcated on the basis of product type into staple fiber and cross-linked fiber. Amongst these, staple fibers are majorly preferred owing to their longer average fiber length which are easier to process and produce even yarns.
• Based on application, apparel accounts for the majority of the total market share, representing the largest segment. This can be attributed to the softness, wet strength and high absorbent properties of lyocell fiber. 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 Middle East and Africa. Currently, Asia Pacific represents the leading market due to 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., Nien Foun Fiber, 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.

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