According to the report, the global lyocell fiber market was valued at US$ 692.7 Mn in 2013 and is anticipated to reach US$ 1,179.5 Mn in 2020, expanding at a CAGR of 7.9% between 2014 and 2020. In terms of volume, the global demand for lyocell fiber stood at 356.3 kilo tons in 2013.
Lyocell fiber basically consists of a type of rayon manufactured from wood pulp and bleached to get the desired result. The major product that lyocell fiber is derived from is cellulose.
It is globally known as the third generation cellulose fiber and is a part of the larger market of rayon fibers. Theory states that most manmade fibers require a higher amount of energy than what is required for natural fibers.
However, according to Lenzing AG, a leading textile company, a manufacturer can actually use low carbon biofuels to manufacture lyocell fiber. Lenzing uses wood pulp to create lyocell fiber.
Another player, Weyerhaeuser had collaborated with Lenzing in 2008 to create nonwoven fabrics that use lyocell fiber.
Environmentalism in Western Europe Hails the Global Lyocell Fiber Market
There are many issues that the textile industry faces due to increasing protests by environmentalists who point to ecological damage caused by the chemicals they use. One of the most positive answers that the industry has comes up with lies in the global lyocell fiber market.
The unique nature of lyocell fiber is that although it is man-made, it uses only natural raw materials such as wood pulp. This makes the global lyocell fiber market one of the most practical solutions to growing environmental concerns.
Lyocell fibers are now preferred over a large range of end users who are looking for eco-friendly textiles. In addition to its eco-friendly raw materials, the global lyocell fiber market also uses a process known as closed loop manufacturing, where the raw material failed to be used once re-enters the loop to be used again.
This reduces the wastage of raw materials, thereby increasing the industry’s output efficiency.
Apparel Segment Dominates the Global Lyocell Fiber Market
In the global lyocell fiber market in 2013, the apparels application segment held the largest market share of more than 55%. The major reason for this was the favorable properties that lyocell fiber possesses such as superior durability, fluid absorbance, and softness.
Another application that is set to witness growth is home textiles, due to a rising demand for lyocell fibers in the manufacture of curtains and drapes. Another characteristic of lyocell fiber is its biodegradability, which makes it an excellent material to produce surgical products and baby diapers.
The fiber is also water absorbent. In fact, this property of the fiber is even superior to traditional cotton fiber.
At the same time, lyocell fibers are resistant to shrinkage and are easily washable. All these factors make the global lyocell fiber market a highly appealing source of textiles for the apparels industry.
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Asia Pacific Leads in Lyocell
Nearly 60% of the global lyocell fiber market in 2013 was held by Asia Pacific. The two greatest drivers for this region’s lyocell market have been growing population and a general improvement in lifestyle.
This holds true especially for India and China. Both nations are experiencing a high rate of urbanization and an increase in the disposable income available to citizens.
The demand for the global lyocell fiber market is expected to rise significantly in the next few years in the regions of North America and Europe. Countries such as the U.S., the U.K., Germany, and France already possess strong textile industries.
Their infrastructure can satisfactorily accommodate the lyocell fiber market.
All in all, the global lyocell fiber market is showing high signs of growth, which is currently estimated to grow at a CAGR of 7.9% from 2014 to 2020. By the end of this forecast period, it will be worth US$1,179.5 million.
This shows that key players such as Lenzing AG, Chon Bang Company Ltd., and Aditya Birla Group are all poised to take full advantage and usher in a new era of fabric quality and environmental sustainability.
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