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| Global Lyocell Fabric Market |
The global Lyocell Fabric Market is estimated to be valued at US$ 1.26 Bn in 2023 and is expected to
exhibit a CAGR of 6.9% over the
forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
Market Overview:
Lyocell fabric is a cellulosic fiber similar torayon or bamboo fiber but made directly
from wood pulp through an environmentally preferable solvent spinning process.
Lyocell fabric is breathable, absorbent, quick drying and more durable than
cotton. It provides excellent drape, hand feel, and print abilities. Lyocell’s
sustainable viscose production process makes it an eco-friendly fabric
alternative to cotton and polyester. The increasing demand for sustainable and
eco-friendly fabrics from fashion and textile industries is driving the growth
of the lyocell fabric market.
Market key trends:
One of the key trends in the lyocell fabric market is the development of new
sustainable spinning technologies. Key players are investing in R&D to
develop new solvent recovery systems which will reduce environmental footprint
of lyocell production further. For instance, Lenzing AG has developed an
advanced solvent purification system called Eco Cycle technology which retains
over 99% of the solvent used, minimizing waste. Also, lyocell fabric blends
with other natural fibers like bamboo, organic cotton etc. are gaining
popularity. These blends leverage merits of both fibers to produce fabrics with
combined performance and sustainability. The emergence of new blends is
expanding application areas of lyocell fabric in home textiles and clothing.
Porter’s Analysis
Threat of new entrants: The lyocell fabric market requires high R&D
investment and established supply chains. This poses a barrier for new
companies.
Bargaining power of buyers: Buyers have moderate bargaining power due to the
availability of substitutes like viscose and modal.
Bargaining power of suppliers: A few companies dominate the production of
lyocell which gives them significant power over buyers.
Threat of new substitutes: Other man-made cellulosic fibers and cotton are
substitutes but lyocell offers superior properties.
Competitive rivalry: The market is consolidated with top players holding
majority share. Intense competition exists based on innovation.
Key Takeaways
The Global
Lyocell Fabric Market is expected to witness high growth, exhibiting CAGR of 6.9% over the forecast period,
due to increasing demand for sustainable fabrics.
Europe dominates the lyocell fabric market currently due to stringent
regulations favouring sustainable textiles. However, Asia Pacific is expected
to grow at the fastest pace due to rising middle-class population and their
increasing preference for comfortable fabrics.
Key players operating in the lyocell fabric market are Lenzing A.G., Aditya
Birla Group, AkzoNobel N.V., Smartfiber AG, Nien Foun Fiber Co., Ltd., Invista
, Baoding Swan Fiber Co. Ltd., Qingdao Textiles Group Fiber Technology Co.,
Ltd., China Bambro Textile (Group) Co., Ltd., Acegreen Eco-Material Technology
Co. Ltd., China Populus Textile Ltd., and Acelon Chemicals & Fiber Corp.
Lenzing A.G. and Aditya Birla Group capture over 50% of the global market
share.
Read More: https://www.trendingwebwire.com/lyocell-fabric-market-size/