The global lyocell fiber market size was worth US$ 941 Million in 2018. Lyocell fiber is a type of rayon produced from bleached wood pulp, also known as dissolving pulp, which contains cellulose. First developed in 1972, this fiber is manufactured using the process of dry jet-wet spinning. Lyocell fiber exhibits similar properties as other cellulose fibers, including ramie, linen, viscose rayon and cotton. It is lightweight, absorbent, breathable, soft, wrinkle-resistant, durable, capable of replicating a range of textures like silk, leather and suede, and can also be dyed in various colors. Nowadays, manufacturers are adopting natural practices to produce lyocell and eliminating the use of chemicals in the production to obtain organic certification.
Lyocell fabric is utilized in a wide range of industries, including fashion, textile, medical, and paper and pulp. Due to its versatility, lyocell fiber is used as a substitute for cotton and silk to make sportswear, shirts, bed linens, denim, T-shirts, trousers and towels. Its high absorbency profile makes it an ideal material for medical dressings. Apart from this, with the rising environmental concerns, the demand for lyocell fiber is escalating across the globe. Its main component, cellulose, is obtained from well-managed forests and its production does not generate by-products that are harmful to the health or the environment. Moreover, technological advancements have led to the manufacturing of lyocell fiber using advanced N-methyl morpholine-N-oxide (NMMO) technology, which is a simple, resource-conserving, and environment-friendly means of regenerating cellulose fiber. As a result of these factors, the market value is projected to reach around US$ 1,305 Million by 2024, expanding at a CAGR of 5.6% during 2019-2024.
Breakup by Product:
Amongst these, staple fibers are the most preferred product, owing to their longer average fiber length, which makes it easier to process and produce even yarns.
Breakup by Application:
Amongst these, apparel represents the largest segment as lyocell fiber is widely used in the industry for its softness and absorbent properties.
Region-wise, Asia Pacific exhibits a clear dominance in the market owing to the improving living standards and flourishing textile industry in the region.
The competitive landscape of the market is characterized by the presence of numerous small and large manufacturers who compete in terms of prices and quality.
Some of the leading players operating in the market are:
Key Questions Answered in This Report:
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