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).

The lyocell fiber market will be driven by expanding demand and ongoing advancements in the textile industry over the coming years. Additionally, the customers now have more disposable income, which increased their expenditure on clothing and homes along with their growing preference for ecological and biodegradable fiber has significantly increased demand for lyocell. As a result, the market for lyocell fiber is projected to increase more quickly than expected over the projected timeframe.

Many different industries, including the fashion, textile, medical, paper, and pulp sectors, use lyocell fabric. It is used to manufacture sportswear, shirts, bed linens, denim, T-shirts, trousers, and towels instead of cotton and silk because of its adaptability. It is a perfect material for medical dressings because of its high absorbency profile. Aside from that, demand for lyocell fiber is expanding globally due to growing environmental concerns. Its primary ingredient, cellulose, is derived from sustainably managed forests, and neither its production nor its byproducts are hazardous to human health or the environment. Additionally, owing to technological improvements, lyocell fiber may now be produced using the easy, resource-saving, and environmentally friendly N-methyl morpholine-N-oxide (NMMO) technique.

Sales of lyocell fiber decreased in 2019 as a result of the global COVID-19 epidemic, which also caused lockdowns in many nations and halted production. However, due to ease in lockdown and resume of production globally, sales of lyocell fiber gradually started increasing.

US Lyocell Fiber Market is poised to grow at a sustainable CAGR for the next forecast year.