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The global lyocell fiber market was valued at US$ 1.13 Billion in 2021.
We expect the global lyocell fiber market to exhibit a CAGR of 6.97% during 2022-2027.
The increasing utilization of lyocell fabric as a substitute for cotton and silk in the production of sportswear, shirts, bed linens, denim, T-shirts, trousers, towels, etc., is currently driving the global lyocell fiber market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in the temporary closure of various end use industries for lyocell fiber.
Based on the product, the global lyocell fiber market has been segregated into staple fiber and cross linked fiber. Currently, staple fiber represents the largest segment.
Based on the application, the global lyocell fiber market can be categorized into apparel, home textiles, medical and hygiene, automotive filters, and others. Among these, apparel currently exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where Asia Pacific currently dominates the global market.
Some of the major players in the global lyocell fiber market include Lenzing AG, Acegreen Eco-Material Technology Co., Ltd., Aditya Birla Group, Baoding Swan Fiber Co. Ltd., Chonbang Co., Ltd., Weiqiao Textile Company Limited, Zhejiang Yaojiang Industrial Group Limited, China Populus Textile Ltd., Great Duksan Corp., Qingdao Textiles Group Fiber Technology Co., Ltd., Smartfiber AG, and Acelon Chemicals & Fiber Corp.
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