The global Skin Fibre Market is estimated to be valued at US$ 825.1 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:-
Skin fibres are man-made fibres which provide advantages like natural look and feel, moisture absorbency and quick drying properties. Due to increasing demand for comfortable and breathable fabrics for clothing and home furnishing applications, skin fibres are gaining popularity in the textile industry.
Market key trends:-
Growing importance of sustainability in the textile industry is one of the key trends driving the growth of the skin fibre market. Skin fibres can be easily recycled at the end of life and are biodegradable. Moreover, manufacturing of skin fibers involves less water consumption and carbon emission compared to other synthetic fibres like polyester, making it an eco-friendlier option. Many leading brands are focusing on incorporating sustainable materials like skin fibres in their product portfolio to meet rising consumer preference for greener options, thus supporting the market growth over the forecast period.
Segment Analysis:-
The global skin fibre market is segmented based on material, application, and region. Based on material, the market is divided into lyocell, modal, and others. The lyocell segment dominates the market and accounted for around 45% share in 2023 owing to its high moisture absorption capacity, premium texture, and good drape properties. Based on application, the market is classified into garment, home textiles, industry textiles, and others. The garment segment leads the market as skin fibre is widely used in manufacturing apparel such as shirts, jeans, dresses due to its soft hand feel.
Key Takeaways:-
The Global Skin Fibre Market Growth is expected to witness high, exhibiting a CAGR of 11% over the forecast period, due to increasing demand for premium and sustainable textile raw materials.
Regional analysis:-
Asia Pacific dominates the global market and held around 40% share in 2023. Rapid industrialization and rising disposable incomes in countries such as China and India are driving the regional market. Europe is the second largest market for skin fibre owing to the well-established textile industries in nations including Germany, Italy, and UK.
Key players:-
Key players operating in the skin fibre market are DuPont de Nemours, Inc., Lenzing AG, Kelheim Fibres GmbH, Asahi Kasei Corporation, Grasim Industries Limited, Sateri Holdings Limited, Tangshan Sanyou Group Co., Ltd., Birla Cellulose, Indo Bharat Rayon, and China Bambro Textile Co., Ltd.
Lenzing AG is a dominating player in the market with a global lyocell production capacity of over 200,000 tons per year. The company offers lyocell fibres under the Tencel brand with a focus on sustainability. Asahi Kasei Corporation is another major player known for its modal skin fibre brand Aica.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it