Lyocell Fiber Market- By Application (Home Textiles, Apparel, Footwear, Medical and Others), By Type (Staple Fibers and Filament Fibers) - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Lyocell Fiber Market was valued at USD 1022.44 million in 2020 and is expected to grow at a CAGR of 11.80% from 2020-2030. Because of its superior orientation, high degree of orientation and long fiber lengths, the global lyocell fiber market is projected to report notable gains due to the expanding application scope. Lyocell fiber is a raw material used in bleached wood, thus accounting for a huge demand scope due to the focus on minimizing the adoption of plastic based goods. It is also anticipated that the lyocell fiber industry will benefit from the product's environmentally friendly nature coupled with the biodegradability easiness. The demand in lyocell fibers market is also expected to register a remarkable growth due to its shrink resistance property which has appeared as a major factor supporting the replacement of rayon fibers in diverse textile applications. Additionally, the fabric can be easily dyed and used in conjunction with other artificial and natural fibers, which contributes to increased demand across textile industry as well as increasing the lyocell fiber market share.

Market Dynamics and Factors:

Wood is the basic raw material that is used to produce the lyocell products. Increasing focus on sustainable wood production will have a positive effect on the growth of lyocell fiber market size. Increasing demand for cellulose based products is expected to gain lyocell fiber market growth in the wake of rejection of petroleum based products. In addition, increasing lyocell fiber trends in reliance by major manufacturers in applications industries viz. textile, medical and automotive on the naturally produced products is probable to accelerate lyocell fiber market growth. In addition, increasing efforts by the governments across the globe to eradicate or minimize the percentage of plastic materials are expected to support the growth of the lyocell fiber industry over the forecast period. The lyocell fiber market trends is increasing as the millennial population seeking a wardrobe update with the latest fashion is considered to be the industry's main audience, whose fickle choices motivate manufacturers to pave the way for innovation. In addition to the fashion industry, lyocell fibers market have experienced a slew of late technological advances due to the increasing demand from the medical and automotive industries for non-woven fabrics.

Market Segmentation:

Based on application, the lyocell fiber market are segmented into home textiles, apparel, footwear, medical and others. On the basis of end/user, the lyocell fiber industry is classified into staple fibers and filament fibers. Geographic breakdown of lyocell fiber market includes regions comprising North America, Europe, Asia-Pacific, and Rest of the world.

Geographic Analysis:

Regional analysis for North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. Asia Pacific contributed the highest in volume and revenue in lyocell fiber market and is estimated to grow with the rising lyocell fiber market trend. Growing textile industry and improved living standards triggered the demand for Lyocell fiber market sales. In 2016, the region held a market value of approximately USD 600 million and will grow robustly in the coming years.

Increasing product demand in hygiene products such as baby and adult diapers is expected to drive lyocell fiber market growth over the forecast period. Rising consumer spending on healthcare and hygiene products is likely to emerge as the major factor driving industry growth over the forecast period. Moreover, growing consumer awareness worldwide about the use of hygiene products is likely to benefit the lyocell fiber industry growth.

With increasing exports of apparel, U.S. manufacturers designed new strategies to compete in industry. Mexico is a significant textile market. Several apparel brands have expanded their business in Mexico, increasing product demand. Demand for lyocell fiber is expected to rise in Europe due to the presence of many textile industries in Germany, France, and the UK.

Competitive Scenario:

The major players of global lyocell fiber market include, Smart Fiber AG, Aditya Birla Group, Qingdao Textiles Group Fiber Technology Co., Ltd., Lenzing AG, Acelon Chemicals, AkzoNobel, Lenzing AG, etc contributing to the major lyocell fiber market share across the globe.

Lyocell Fiber Market Report Scope