Lyocell Fiber Market Growth forecast,by End-User Industry, $Million, during 2019
Lyocell Fiber Market Growth forecast, 2019-2025
Global Lyocell Fiber Market continues to be in growth period driven by 7.13% CAGR through 2025
SOUTHLAKE, TX, UNITED STATES, October 18, 2019 /EINPresswire.com/ — Lyocell Fiber Market size is entering growth phase with a CAGR of 7.13% throughout the forecast period between 2019 and 2025. Strong growth of parent market, cellulose fibers market and growing R&D efforts for recyclable and eco-friendly products are set to shape the Lyocell Fiber market value to $1 billion in 2019.
In addition, shifting consumer preferences towards consumption of biodegradable fabrics, and augmentation of novel applications of lyocell fiber are identified as factors set to drive the market growth by Amulya Reddy- a research analyst at OG Analysis.
Recent developments in applications such as Lyocell dehumidification sheets, B2B applications, and manufacture of composite materials are the other key market trend.
Further, strong potential of Lyocell fiber in textile and upholstery manufacturing with advantages of high durability and versatile nature of the fiber opens long term Lyocell based fiber market opportunities.
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Accordingly, benefits of nanofibers of high moisture absorption and release, in particular for the bedding segment is increasingly driving the lyocell fiber market growth. Moreover, increasing preference of Lyocell fibers as the fiber of choice in terms of sustainability, soft & silky texture in fashion and apparel industry is directing wide attention from consumers.
Robust demand in non-woven technical textiles remains the key target market for lyocell fiber vendors. Accordingly, large players in developed countries are focusing on product differentiation, widening scope of applications and offering value-added lyocell fiber textiles.
However, high capital and operational expenditures over-processing of Lyocell fabric along with intense competition among manufacturers are amidst factors negatively impacting the market growth.
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Staple fiber remains the most dominant lyocell fiber type worldwide through forecast period
Staple fiber has the largest market share by product type, change in customer preferences, growing demand for cost-effective fibers, and increasing awareness about sustainable textiles are some of the major factors of staple fiber driving the market growth.
In addition, cross linked fiber market share is set to emerge driven by mass consumption from apparel and textile manufacturers with advantages of high wet absorbing and comfortable nature of cross linked lyocell fiber type.
Apparel end-user industry is the largest application for lyocell fiber, accounting for up to half percentage of market share
The demand for lyocell fiber in apparel due to large preference of customers towards fashion and enhancing physical appearance is set to drive the lyocell fiber market growth. In addition, factors such as urbanization, globalization, and influence of the western culture in eastern and Asian countries are fuelling the demand for apparel globally.
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In addition, ease of availability of apparels by both online and offline modes of distribution channels with a wide range of collections are boosting the demand for apparels.
Further, growing consumer’s preferences towards interior decorations and household textiles owing to luxurious and celebrated lifestyles drive the lyocell fiber market growth.
United States is estimated to peer the market growth, followed by Asian Countries over the forecast period
United States continues to remain the dominant player in the North American Lyocell Fiber Market under the brand name TENCEL along with wide adoption of Lyocell based products.
United States Lyocell Fiber market is estimated to have a stronger headway in near-term due to the rising apparels and clothing manufacturing both in retail and wholesale volume sales for Lyocell Fiber products.
Further, rising preference for skin sensitive, non–allergen and environment-friendly fibers are the key factors accelerating Lyocell Fiber market growth in developed economies.
Whereas, China and India are set to record high market growth rates for consumption of Lyocell Fiber over the forecast period. The lyocell fiber market growth is driven by the rise in disposal income with increased export sales along with increase in distribution channels of the Chinese Lyocell Fiber market.
In addition, a rise in demand for high-quality denim wears further project opportunities for Lyocell Fiber Market across Asia Pacific. Two of the mills making high superiority edged Denim in Japan are Shinohara Textile and Kaihara in augmenting with Lyocell Fiber (TENCEL) are dominating lyocell fiber textile demand.
Collaborations, novel products and investments in patents by key players are set to foray the market growth
Key Lyocell Fiber market players are entering into collaborations for research and development of eco-friendly products. For instance, in 2019 Lenzing developed a new green fabric in collaboration with international chemical and fiber group Solvay. Further, in 2018 Lenzing launched new Veocel Lyocell fiber with eco disperse technology which is designed for use in flushable wipes.
Besides the innovation of novel products, key OEMs are investing in patents for manufacturing and production approaches. For instance, in 2019 Patents have been assigned to Acelon Chemical and Fiber Corporation for the method of preparation of natural graphene cellulose blended melt-blown nonwoven fabric.
Major players contributing to the Lyocell fiber market include Lenzing AG Company, Weiqiao Textile Company Limited, Chonbang Co., Ltd., Acelon Chemical & Fiber Corporation, and Birla cellulose, among others.
• Natural, Manufactured and Other Cellulose Fibers Market
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• Eco Fiber Market
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Source: EIN Presswire