"As per a new research report by the market research and strategy consulting firm, Global Market Insights, Lyocell fiber market will reach over $1.5 billion by 2024. Fashion trends have changed rapidly over the past few years and will continue to do so in the coming years, which will drive industry growth. Modern technology and fibers have been developed which have escalated the use of better quality materials and has driven lyocell fiber marker demand. Brands have started focusing on fibers that can be recycled and reused after the end of a product’s lifecycle."

As per a new research report by the market research and strategy consulting firm, Global Market Insights, Lyocell fiber market will reach over $1.5 billion by 2024. Fashion trends have changed rapidly over the past few years and will continue to do so in the coming years, which will drive industry growth. Modern technology and fibers have been developed which have escalated the use of better quality materials and has driven lyocell fiber marker demand. Brands have started focusing on fibers that can be recycled and reused after the end of a product’s lifecycle.

Government has taken various initiatives to adopt sustainable fibers. The apparels segment in North America accounted for a major chunk of the product share (over 40 per cent) in 2016. The environment friendly production process of the material also acts as a major driver to boost the lyocell fiber market. There has been a significant impact through social media on the apparel segment, which in turn has positively influenced the industry.

Lyocell fibers emerge as a strong alternative

Petrochemical fibers have been substituted by cellulosic man made fibers, which has spurred product adoption in manufacturing processes. The pressure on synthetic fiber manufacturers has increased due to increasing demand for naturally derived fibers. The product finds its application in various segments such as baby diapers, home textiles, apparels, automotive filters, surgical products and many more. The healthcare and wound care textiles segment is likely to grow at a robust pace, owing to the evolving technologies for recovery of surgical wounds, thus propelling lyocell fiber market.

Despite numerous opportunities, lyocell fiber market will face challenges due to its expensive pricing compared to eco-friendly alternatives. Extra caring of delicate fabrics such as cold rinse, hand wash, and dry-clean can increase maintenance costs as well. Also, the product shrinks up to 3 per cent after the first wash. These factors will act as restraints for lyocell fiber market in coming years.

Cellulose fibers are used for the manufacturing of superior quality textiles which have boosted the lyocell fiber market. The fiber is biodegradable, natural and economical, obtained from natural cellulose found in wood pulp. Also, the fabric has natural breathability and with a superior moisture absorption capacity than cotton. Moreover, due to its moisture management properties, lyocell is anti-bacterial by nature. These properties will open up new growth vistas in new products for lyocell fiber in coming years.

Some major industry players in lyocell fiber market include: Birla Cellulose, Lenzing AG, Baoding Swan Fiber Co, Acegreen Eco-Material Technology, China Populus Textile, Chonbang, Qingdao Textiles Group Fiber Technology, Acelon Chemicals & Fiber Corporation and smartfiber AG.