The global Lyocell Fabric Market is estimated to be valued at US$ 1.26 Bn in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview
Lyocell fabric is made from cellulose pulp and is known for its softness, breathability, dye-ability, moisture absorption and quick-drying properties. Lyocell fabric is very comfortable to wear and is used in making clothes, home furnishings and personal care products. The fabric has high moisture management properties and keeps the body cool and dry in hot weather.
Market key trends
One of the key trends in the lyocell fabric market is the increasing uptake of lyocell fabrics in the apparel industry. Lyocell fabrics offer drape, softness and moisture wicking properties comparable to cotton but is more durable and easier to care for. The fabric’s inherent ability to keep skin cool and dry has made it popular for sports and athleisure wear. The increasing demand for sustainable fabrics from consumers and brands has also boosted the adoption of lyocell in clothes. Lyocell fabric is biodegradable and compostable at the end of its life, making it an eco-friendly alternative to synthetic fabrics.
SWOT Analysis
Strength: Lyocell fabric is sustainable and biodegradable in nature. It is made from wood pulp using a closed-loop production process that minimizes environmental impact.
Weakness: Lyocell production requires large amount of solvents like NMMO. Improper disposal of these solvents can harm the environment. High production cost of Lyocell makes it more expensive than other fabrics.
Opportunity: Increasing consumer awareness about environmental protection is driving the demand for sustainable fabrics like Lyocell. Rise in disposable income allows customers to pay premium price for eco-friendly fabrics.
Threats: Stiff competition from man-made fabrics that are economical alternatives to Lyocell. Volatility in raw material prices can increase the production cost of Lyocell fabrics.
Key Takeaways
The global Lyocell Fabric Market is expected to witness high growth, exhibiting CAGR of 6.9% over the forecast period, due to increasing demand for sustainable fabrics. Lyocell being an eco-friendly fabric made from wood pulp is gaining more popularity.
Regional analysis: Europe dominates the global Lyocell fabric market currently. It accounts for over 30% of total market share due to stringent environmental regulations. Asia Pacific is the fastest growing region on account of rising middle class population and their increased spending on premium fabrics. Countries like China and India offer lucrative growth opportunities.
Key players operating in the Lyocell Fabric market are Lenzing A.G., Aditya Birla Group, AkzoNobel N.V., Smartfiber AG, Nien Foun Fiber Co., Ltd., Invista , Baoding Swan Fiber Co. Ltd., Qingdao Textiles Group Fiber Technology Co., Ltd., China Bambro Textile (Group) Co., Ltd., Acegreen Eco-Material Technology Co. Ltd., China Populus Textile Ltd., and Acelon Chemicals & Fiber Corp. These companies are focussing on capacity expansion and new product launches to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
