The rapid development in the technical textiles and apparel industries has had a positive impact on the demand for lyocell fibers, states Transparency Market Research in its recent report. The 62-page research publication reveals that registering a strong CAGR of 7.90% during the forecast period, the global lyocell fibers market is poised to rise from US$692.7 Mn in 2013 to US$1,179.5 Mn by 2020. The report is titled “Lyocell Fiber Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020” and is available for sale on the company website.
While new product development in the medical sector and growing trend of eco-friendly fiber is anticipated to boost the lyocell fiber market, it is projected to be held back owing to availability of low-cost substitutes. Lyocell fibers possess superior qualities of absorbency and softness and are biodegradable. On the basis of application, the overall market for lyocell fiber is segmented into home textiles, apparel, and others including baby diapers and surgical products. The apparel market – comprising sections such as sportswear, casual wear, women’s wear, and men’s wear – held over 55% of the entire lyocell fiber market in 2013, making the leading application segment that year. Lyocell fibers in the home textiles segment are used in making drapes, carpets, bed sheets, and curtains. Its property of biodegradability makes it ideal for manufacturing baby diapers and surgical products.
On the basis of geography, the global lyocell fiber market is divided into North America, Europe, Asia Pacific, and Rest of the World. Asia Pacific dominates the worldwide market in terms of both consumption and revenue. By revenue, Asia Pacific accounts for a whopping 65% of the overall lyocell fiber market. Lyocell is used in woven as well as nonwoven products and China and India being leading exporters of textiles, are also major consumers of lyocell fibers. While Asia Pacific is primarily driven by the growth of the technical textiles market, it is also fueled by the rising demand for environment-friendly fibers and the increasing focus on highly advanced healthcare and medical products. The lyocell fiber market in this region is, however, restrained by the easy availability of cheaper alternatives.
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