May 22, 2024
lyocell fabric market

Lyocell Fabric Market is Expected to be Flourished by Growing Demand for Sustainable Fabrics

Lyocell fabric is a man-made cellulosic fiber made from plant sources such as wood pulp, agricultural waste, bamboo, and cotton through a solvent spinning process. Lyocell fabric production involves dissolving pulp in an organic solvent that is recovered and recycled or destroyed in the manufacturing process. Lyocell fabrics are known for their breathability, absorbency, and soft handfeel. They are used in clothing, home textiles such as towels, sheets, and curtains. Lyocell fibers are highly sustainable as the manufacturing process recovers and recycles up to 99.5% of solvents used in production. It does not require the use of harmful chemicals like cotton production. The global demand for sustainable fabrics made from renewable materials have been driving the adoption of lyocell fabrics. Major apparel brands have been increasingly incorporating lyocell into their collections and touting its eco-friendly properties to attract conscious consumers.

The global lyocell fabric market is estimated to be valued at US$ 1.46 Mn in 2023 and is expected to exhibit a CAGR of 3.2% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
The growing demand for sustainable fabrics (as referred in the heading) has been a major driver of the lyocell fabric market over the past decade. Lyocell’s production process using renewable wood pulp and nearly complete recycling of solvents allow it to be marketed as an eco-friendly alternative to cotton and other synthetic fabrics. Another driver has been rising environmental awareness among consumers who are actively seeking apparel and home textiles made from natural, sustainable materials. Lyocell fabric caters directly to this consumer segment. The acceptance and adoption of lyocell by major brands validate its credentials and further boost its popularity. Such manufacturers promoting lyocell’s green attributes on product packaging and marketing campaigns help expand market reach and Growth.

Segment Analysis
The lyocell fabric market can be segmented into apparel, home textile and technical. The apparel segment dominates the market and holds around 60% share owing to wide application of lyocell fabric in clothing like shirts, pants, dresses, underwear etc. Lyocell fabric provides advantages like wrinkle resistance, breathability and moisture absorbency making it suitable for clothing.

PEST Analysis
Political: There are no major political risks impacting the lyocell fabric market. Some countries impose import duties on lyocell fabrics but have no direct influence.
Economic: The global economic growth drives demand from end use industries like apparel and home textiles. Recession can negatively impact the market.
Social: Consumers are increasingly preferring eco-friendly natural fabrics like lyocell due to sustainability concerns about synthetic fabrics. Wider acceptance of lyocell benefits its market growth.
Technological: Companies are focusing on development of new production technologies to reduce manufacturing costs and improve properties of lyocell fabrics like strength, softness, shrink resistance etc. This would support market expansion.

Key Takeaways
The Global Lyocell Fabric Market Demand is expected to witness high growth during the forecast period till 2031. The global lyocell fabric market is estimated to be valued at US$ 1.46 Mn in 2023 and is expected to exhibit a CAGR of 3.2% over the forecast period 2024 to 2031.

Regionally, Asia Pacific dominates the market and is expected to continue its dominance owing to wide availability of raw materials, presence of key players and rapid growth in end use industries.

Some of the key players operating in the lyocell fabric market are Hexion, BASF SE, Georgia-Pacific Chemicals, Hexza Corporation Berhad, Metadynea, Jiangsu sanmu group Co. Ltd, Ashland, ARCL Organics Ltd., Kronoplus Limited, Advachem, Qafco, Sabic, Acron Group, Asta Chemicals, Melamin Kevična Tovarna D.D. Kočevje, and Arclin Inc. Key players are focusing on new product development, capacity expansion, partnerships and acquisitions for gaining competitive advantage.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it