by The Skin Fibre Market is estimated to be valued at US$ 825.1 Mn in 2023 and is expected to exhibit a CAGR of 11. % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:-
Skin fibres are made from cellulose extracted from plants such as bamboo, wood pulp or cotton linters. They have a soft texture similar to natural fabrics such as silk. Skin fibres have high tensile strength and elasticity making them suitable for use in clothing, home textiles and hygiene products. Their breathable nature makes them comfortable to wear.
Market key trends:-
The growing demand for sustainable fibres from the textile industry is estimated to boost the demand for skin fibres over the forecast period. Skin fibres are obtained from renewable plant sources through an environment friendly production process without using harmful chemicals. They can be broken down by microorganisms at the end of their useful life. Additionally, skin fibre producers are innovating to improve the functionality of these fibres. For example, some skin fibres are treated to gain properties like wrinkle resistance, moisture wicking and ultraviolet protection. Their versatility is driving their increased usage in diverse applications beyond traditional textiles.
Porter’s Analysis:-
- Threat of new entrants: The skin fibre market requires high R&D investment and capital costs to enter. Established players enjoy economies of scale. This poses barriers for new entrants.
- Bargaining power of buyers: Buyers in the skin fibre market includes textile manufacturers, apparel brands etc. Their bargaining power is moderate as they can negotiate on price and demand customization from suppliers.
- Bargaining power of suppliers: Major suppliers in this market are fibre producers. They exert some pricing pressure due to the unique properties offered by different fibres. However, availability of substitutes check their bargaining power.
- Threat of new substitutes: Alternative fibres like cotton, polyester etc pose threat of substitution. However, properties like moisture absorbance make skin fibres irreplaceable for certain applications.
- Competitive rivalry: Intense competition exists among key players to gain market share through product innovations, expanding applications and strategic collaborations.
SWOT Analysis:-
- Strength: Skin fibres are breathable, moisture-wicking and help manage odour. This makes them suitable for sports and medical textiles.
- Weakness: High production costs compared to synthetic fibres. Vulnerable to supply constraints due to sensitive extraction process.
- Opportunity: Growing sportswear and activewear sectors present opportunities. Medical textiles offer new applications such as wound dressings.
- Threats: Stiff competition from cotton and polyester in clothing. Stringent environmental regulations during production.
Key Takeaways:-
The Global Skin Fibre Market Size is expected to witness high growth, exhibiting CAGR of 11% over the forecast period, due to increasing demand for natural and sustainable fabrics. Asia Pacific dominates the market currently due to presence of major producing countries like China and India.
Regional analysis – North America and Europe are other major skin fibre markets due to high health awareness and demand for specialty textiles in medical sector. Growth will be fastest in Asia Pacific backed by rising living standards, disposable incomes and expansion of textile and apparel industries in China, India and other developing economies.
Key players operating in the skin fibre market include DuPont de Nemours, Inc., Lenzing AG, Kelheim Fibres GmbH, Asahi Kasei Corporation, Grasim Industries Limited (Aditya Birla Group), Sateri Holdings Limited, Tangshan Sanyou Group Co., Ltd., Birla Cellulose (Aditya Birla Group), Indo Bharat Rayon (Aditya Birla Group), China Bambro Textile Co., Ltd. Key players are focused on new product developments to enhance properties and expand applications.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.
