The market for lyocell fiber is primed for a profitable future with the revenue estimated to reach a valuation of US$1,179.5 million by 2020, as reassured by a recent business intelligence study from Transparency Market Research (TMR). The analyst of the report has credited the vendors operating in the lyocell fiber market for expanding demand, as a number of them are resiliently researching and developing potential of the fiber across diverse applications. And, rigorous emphasis on product innovation is a reflection of growing competition among the leading players. Lyocell fiber is used by the textile industry to manufacture clothes such as denim, casual wear, lingerie, socks, sweater, towel, baby diapers, bedsheet, and men’s dress shirts.
The fiber can also be blended with linen, cotton, silk, wool, and others to formulate specialty products such as medical dressings and conveyor belts. On the other hand, the apparel industry utilizes the dry durability of lyocell fiber to manufacturer long lasting products for their customers. As these products are made using non-toxic and organic solvents, they have no harmful properties.
Apart from the apparel and textile industry, the usage of lyocell fibers are also gaining traction from it being manufactured in an ecofriendly manner. A number of countries have come together realizing the negative environmental effects of various industries and are encouraging usage and innovation for products that are not only manufactured using ecofriendly measures as well as are biodegradable. Players of the lyocell fiber market have realized this trend and are marketing their products as better than their alternatives, as they are produced using natural wood. Some of the key players in the global lyocell fiber market are Acelon Chemicals & Fiber Corporation, Lenzing AG, Smartfiber AG, Aditya Birla Group, Chon Bang Company Limited, Qingdao Textiles Group Fiber Technology Co., Ltd., and Weiqiao Textile Company Limited.
With excellent properties of hygroscopicity and air permeability, lycell fibers enable the making of diverse surface effects that give desired softness and cool feeling. Products manufactured using lyocell fiber offer high tensile strength and also support washing and maintenance.
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The market for lyocell fiber has been segmented into apparels, home textiles, and others including baby diapers and surgical products. More than half of the total demand is currently coming from the apparel segment. That being said, home textiles such as bedsheets, curtains, and drapes are gaining demand on the back of increased disposable income of populations living in metropolitan areas in the emerging economies. Consequently, geographically, Asia Pacific has been rated as the region with maximum demand potential. The region houses two of the world’s most populated countries in China and India, and both are growing at handsome GDP. In the near future, improved lifestyle and emphasis on ecofriendly products is expected to boost the Asia Pacific lyocell fiber market. In addition to that, industrial and technical sectors are further fueling the demand, producing non-woven products such as wipes, filters, and hygiene tools. On the other hand, availability of cheaper alternatives are strongly hindering the market for lyocell fibers in cost-sensitive regions and countries.