PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1120723
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1120723
Lyocell Fibers Market size was valued at USD 1,013.8 Million in 2021, growing at a CAGR of 8.6% from 2022 to 2028.
Products like apparel, footwear, home textiles, and medical equipment all frequently use lyocell fibres. These fibres' main ingredient is cellulose, which is found in wood pulp. Lyocell fibres may be recycled with ease and disposed of utilising techniques like sewage infiltration, incineration, and landfilling. It is anticipated that this will prompt manufacturers of fibres like rayon, cotton, and synthetic fibres to convert over to the production of lyocell fibres in the near future. Lyocell fibres are comparable to polyester in terms of strength. In terms of strength, these fibres surpass cotton and all other artificial staple cellulosic fibres. Additionally, the cellulosic fibre's wet and dry modulus of lyocell fibres is quite high in both the dry and wet states.
Sportswear demand is expected to rise in the next years as a result of increased per capita earnings and a global upsurge in consumer awareness of fitness and health. Additionally, it is predicted that both developed and developing nations would adopt better lifestyles and engage in more sports and fitness activities in the near future, which will increase the demand for sportswear. In the United States and Europe, many people have serious concerns about their physical health. In developing nations, an expanding middle class is preferring to join gyms and participate in sports.
The Global Lyocell Fibers Market is segmented on the basis of Product Type, Application, and Region.
The market is divided into two categories based on product type: Staple Fibre & Filament Fibre. The filament fibre segment is expected o dominate the market during the forecast period. The staple fibre is used in many products, including towels, denim, casual clothing, etc. Fibrils can be easily separated from it. Cross-linked fibre is not a suitable feedstock for the processes because of its poor fibrillation capacity, which renders it refractory to the regeneration process. Due to its low fibrillation, the cross-linked fibre is difficult to biodegrade. The fibre can be broken down using a landfill, composting, or incineration. Many filter applications can benefit from the use of cross-linked fibres, which have a silkier texture than staple fibre.
The market is divided into four categories based on application: Apparel, Home Textiles, Medical, and Footwear. The apparel segment dominates the global lyocell fibres market and is anticipated to maintain its dominance during the forecast period owing to its desirable properties such as softness and absorbent qualities. In 2021, the apparel segment accounted for ~60% of the global lyocell fibre market. This segment has significantly contributed to the economies of the countries, especially with the aid of online retail.
Lyocell Fibers market comprises both international and local producers, making it a fairly competitive sector in the world. Some of the primary strategies adopted by corporations to strengthen their reach and expand their market share include new product launches, distribution network development, R&D spending, and mergers and acquisitions. Moreover, a lot of sportswear manufacturers are also collaborating with online retailers like Myntra and Amazon in an effort to increase their worldwide reach.
For instance, In October 2021, Lenzing Group announced the expansion of its sustainable offering for the denim industry, with the launch of matte TENCEL branded lyocell fibres. Moreover in June 2021, the VEOCEL brand launched a new branded lyocell fibres with Dry technology which are naturally smooth and gentle on skin, ensuring comfort for sensitive skin.
The scope of this report covers the market by its major segments, which include as follows: