The global Lyocell Fabric Market is estimated to be valued at US$ 1.26 Bn or Mn 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 made from wood pulp through solvent spinning process. It is highly breathable, absorbent and can retain shape well after washing. Lyocell fabric is spun to achieve a consistent fiber diameter, making the fabric durable and smooth while maintaining great fluid transfer.
Market key trends:
One of the key trends in lyocell fabric market is rising popularity in apparels such as dresses, shirts and t-shirts due to its properties resembling cotton with functional benefits of other fibers. Lyocell fabric is highly breathable, moisture wicking and retain shape after repeated washing making it a preferred choice for many casual wears and active wears brands. Lyocell also provides adequate stretch, drape and strength which adds to the comfort of apparel made from this fiber. Its eco-friendly production process without using harmful chemicals further drives its adoption in apparel segment.
Market key trends:
The Global Lyocell Fabric Market has been witnessing rising demand from the apparel and home textiles industries over the recent years. One key trend in the market has been the growing preference for sustainable and eco-friendly fabrics. Lyocell is considered an eco-friendly fabric as its production process involves dissolving pulp in an organic solvent which is recycled for repeated use. Compared to other fabrics, lyocell has a relatively lower environmental impact. This has boosted its adoption in the apparel and fashion industries for manufacturing sustainable clothing.
SWOT Analysis
Strength: Lyocell is a eco-friendly fabric. It can be recycled and bio-degraded. The production process involves dissolving pulp in organic solvents with minimal environmental footprint.
Weakness: Lyocell production process requires huge capital investment and technical expertise. Supply chain challenges and dependency on agricultural raw materials can impact costs.
Opportunity: Growing demand for sustainable fabrics presents an opportunity. Also, lyocell can replace cotton and help address cotton farming issues.
Threats: Alternatives like modal fiber pose competition. Fluctuating raw material prices and political instability in supplying countries are threats.
Key Takeaways
The global lyocell fabric market is expected to witness high growth, exhibiting CAGR of 6.9% over the forecast period, 2023 to 2030, due to increasing preference for sustainable fabrics.
Asia Pacific dominates the global lyocell fabric market and is expected to grow the fastest during the forecast period. China, India, and Southeast Asian countries contribute significantly to regional growth due to rising living standards, expanding textile industries, and increasing adoption of lyocell fabric in apparel and home textiles.
Key players operating in the lyocell fabric market incorporate 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.
