June 16, 2024

The Global Lyocell Fabric Market Is Estimated To Propelled By Its Eco-Friendly Properties

Lyocell fabric is a synthetic fiber made from natural cellulose, an organic polymer. It is derived from wood pulp or other materials rich in cellulose. Some key advantages of lyocell fabric include its soft and durable texture, breathability and moisture wicking property. It is often used in clothing, home furnishings and industrial applications owing to its eco-friendly production process.

The global lyocell fabric market is estimated to be valued at US$ 1.46 Mn in 2023 and is expected to exhibit a CAGR of 3.2% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the major trends driving the growth of the lyocell fabric market is its eco-friendly attributes. Lyocell is produced using a solvent-based process that recycles 99% of the chemicals used. This makes lyocell a more sustainable option compared to other man-made cellulosic fibers. The production process of lyocell fabric has lower environmental impact as it generates lesser greenhouse gas emissions and uses less harmful chemicals. Owing to rising environmental concerns, there is increasing demand for sustainable fabrics which is fueling the adoption of lyocell across various end-use industries.

SWOT Analysis

Strength: Lyocell fabric is biodegradable and obtained from renewable wood pulp sources through closed-loop manufacturing process, ensuring environmental sustainability. It has excellent moisture-wicking and breathability properties.

Weakness: High production costs associated with lyocell manufacturing compared to other fabrics. Dependence on external suppliers for wood pulp raw materials.

Opportunity: Growing demand for eco-friendly and sustainable fabrics from textile and apparel industries. Expanding into new application areas like home furnishings and industrial products.

Threats: Price fluctuations of raw materials like wood pulp. Stringent forestry policies regulating pulpwood sources in some regions.

Key Takeaways

The global lyocell fabric market demand is expected to witness high growth over the forecast period of 2024 to 2031. The global lyocell fabric market is estimated to be valued at US$ 1.46 Mn in 2023 and is expected to exhibit a CAGR of 3.2% over the forecast period 2024 to 2031.

The Asia Pacific region currently dominates the market owing to the presence of key producers in China, India and other countries. China is the largest producer as well as consumer of lyocell fabrics globally.

Key players operating in the lyocell fabric market are Hexion, BASF SE, Georgia-Pacific Chemicals, Hexza Corporation Berhad, Metadynea, Jiangsu sanmu group Co. Ltd, Ashland, ARCL Organics Ltd., Kronoplus Limited, Advachem, Qafco, Sabic, Acron Group, Asta Chemicals, and Arclin Inc. The key players are focusing on capacity expansions and developing innovative production technologies to cater to the increasing demand for lyocell fabrics.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it