Lyocell Fiber Market Size, Share, Growth Analysis, By Type(Staple Fiber, Cross Linked Fiber), By Application(Apparel, Home Textiles, Medical, Hygiene), By Region - Industry Forecast 2024-2031

Lyocell Fiber Market size was valued at USD 1036.27 million in 2019 and is poised to grow from USD 1111.78 million in 2023 to USD 2096.12 million by 2031, growing at a CAGR of 7.3% in the forecast period (2024-2031).

A few large-scale manufacturers control the majority of the lyocell fiber market share globally. The majority of businesses invest a lot on research and development, especially to produce environmentally friendly products. Major techniques employed by prominent players include product portfolio diversification and mergers and acquisitions. The leading players in the lyocell fiber market include Lenzing AG, Grasim Industries Limited, Baoding Swan Chemical Fiber Group Co. ltd., Shanghai Lyocell Fiber Development Co., Ltd., and Smartfiber AG. 'Lenzing AG', 'Aditya Birla Group', 'Smartfiber AG', 'China Populus Textile Ltd.', 'Baoding Swan Fiber Co., Ltd.', 'Great Duksan', 'Acelon Chemicals & Fiber Corporation', 'Nien Foun Fiber', 'Weiqiao Textile Company Limited', 'Zhejiang Yaojiang Industrial Group', 'Sateri Holdings Limited', 'Birla Cellulose', 'Nanjing Chemical Fiber Co., Ltd.', 'Chonbang Co. Ltd.', 'Grasim Industries Limited', 'Acegreen Eco-Material Technology Co., Ltd.', 'Shandong Silver Hawk Chemical Fibre Co., Ltd.', 'Tangshan Sanyou Xingda Chemical Fiber Co., Ltd.', 'China Bambro Textile (Group) Co., Ltd.', 'Kelheim Fibres GmbH'

The lyocell fiber market is expanding as environmental concerns rise. Lyocell fabric was a turning point in the development of sustainable and green textiles. It is a synthetic fibre created from pulped wood. It is a cellulosic fibre that was produced using the solvent spinning method. Cells of plants include the organic polymer cellulose. Cellulose from hardwood trees is used to make lyocell fibre. Other materials utilised in the process include water, solvent, and a finishing agent. This product gives fabrics a lot of sheen and colour depth. As a result, its primary component, cellulose, originates from sustainably managed trees and its production has no negative side effects on the environment or human health. Consequently, the demand for the lyocell fabric is estimated to have skyrocket over forecasted period.

Increased demand for athletic clothing will fuel the lyocell fiber market - Over the next few years, the demand for sportswear is projected to increase due to rising per capita income and increase in consumer awareness of health and fitness. Both developed and developing countries would embrace healthier lives and participate in more sports and fitness activities, which will raise demand for sportswear. The physical well-being of many individuals is a major concern in the U.S. and Europe. Growing middle class populations in developing countries are choosing to join gyms and take part in sports. Numerous sports apparel manufacturers are also forming alliances with online merchants like Myntra and Amazon in an effort to expand their footprint around the world. Leading companies offering sports gear at cheaper rates include Under Armour, Inc., Nike, Inc., and Adidas AG. These companies increasingly target younger people globally. The improvements in price techniques among numerous manufacturers would increase the demand for athletic apparel in the near future. Therefore, manufacturers of synthetic fiber will likely be forced to make eco-friendly fiber as a result of increased controls on the production of synthetic fiber driven by emission constraints. Another important element driving the adoption of lyocell fiber across numerous end-use sectors is their high absorptivity, improved softness, and eco-friendliness. The lyocell fiber market is therefore projected to expand throughout the forecast period taking into account all of the aforementioned aspects.

Asia Pacific dominates the world market for lyocell fibres in terms of volume. In 2021, Asia Pacific accounted for more than 70% of the lyocell fiber market. An increase in population and a rise in urbanisation in developing nations like China and India can be attributed to the expansion of the lyocell fibres market in the Asia-Pacific region. According to estimates, China is the region's largest consumer of lyocell fibres. Another factor influencing the purchasing power of the population in these nations is the rise in disposable income. As a result, the market growth for lyocell fiber will be supported.