Lyocell market to touch $1179.5 mn in 2020
The rapid development in the technical textiles and apparel industries has had a positive impact on the demand for lyocell fibres, states Transparency Market Research in its recent report. The 62-page research publication reveals that registering a strong CAGR of 7.90 per cent during the forecast period, the global lyocell fibres market is poised to rise from $692.7 million in 2013 to $1,179.5 million by 2020.
The rapid development in the technical textiles and apparel industries has had a positive impact on the demand for lyocell fibres, states Transparency Market Research in its recent report. The 62-page research publication reveals that registering a strong CAGR of 7.90 per cent during the forecast period, the global lyocell fibres market is poised to rise from $692.7 million in 2013 to $1,179.5 million by 2020. The report is titled ?Lyocell fibre Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020? and is available for sale on the company website.
While new product development in the medical sector and growing trend of eco-friendly fibre is anticipated to boost the lyocell fibre market, it is projected to be held back owing to availability of low-cost substitutes. Lyocell fibres possess superior qualities of absorbency and softness and are biodegradable. On the basis of application, the overall market for lyocell fibre is segmented into home textiles, apparel, and others including baby diapers and surgical products. The apparel market ? comprising sections such as sportswear, casual wear, women?s wear, and men?s wear ? held over 55 per cent of the entire lyocell fibre market in 2013, making the leading application segment that year. Lyocell fibres in the home textiles segment are used in making drapes, carpets, bed sheets, and curtains. Its property of biodegradability makes it ideal for manufacturing baby diapers and surgical products. On the basis of geography, the global lyocell fibre market is divided into North America, Europe, Asia Pacific, and Rest of the World. Asia Pacific dominates the worldwide market in terms of both consumption and revenue.
By revenue, Asia Pacific accounts for a whopping 65 per cent of the overall lyocell fibre market. Lyocell is used in woven as well as nonwoven products and China and India being leading exporters of textiles, are also major consumers of lyocell fibres. While Asia Pacific is primarily driven by the growth of the technical textiles market, it is also fueled by the rising demand for environment-friendly fibres and the increasing focus on highly advanced healthcare and medical products. The lyocell fibre market in this region is, however, restrained by the easy availability of cheaper alternatives.
The lyocell fibre market in developed countries such as Germany, the US, France, and the UK is anticipated to witness immense growth by 2020 owing to the environmentalist approach in most of these nations and the presence of well-established textile industries.The most notable participants of the global lyocell fibre market include Lenzing AG, City Victor Corporation, The Aditya Birla Group, Smartfibre AG, Qingdao Textiles Group fibre Technology Co Ltd, Acelon Chemicals & fibre Corporation, Weiqiao Textile Company Limited, and Chon Bang Company Limited. These players are evaluated in the research report keeping in mind aspects such as company overview, product portfolio, recent developments, business strategies, financial standing, strengths, weaknesses, opportunities, and threats.