Global Lyocell Fiber Market

Global Lyocell Fiber Market Size, Share, Growth Analysis, By Type(Staple Fiber, Cross Linked Fiber), By Application(Apparel, Home Textiles) - Industry Forecast 2023-2030


Report ID: SQMIG15A2262 | Region: Global | Published Date: February, 2024 | Pages: 237 | Tables: 65 | Figures: 75

Global Lyocell Fiber Market Insights

Lyocell Fiber Market size was valued at USD 1036.27 million in 2021 and is poised to grow from USD 1111.78 million in 2022 to USD 2096.12 million by 2030, growing at a CAGR of 7.3% in the forecast period (2023-2030).

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 2020 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.

Market snapshot - 2023-2030

Global Market Size

USD 1036.27 million

Largest Segment

Staple Fiber

Fastest Growth

Staple Fiber

Growth Rate

7.3% CAGR

Global Lyocell Fiber Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Lyocell Fiber Market Size By Type, 2021-2028 ($ Bn)
Global Lyocell Fiber Market Size By Type, 2021-2028 (%)

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Global Lyocell Fiber Market Segmental Analysis

The global lyocell fiber market is segmented based on type, application, and region. Based on type, the lyocell fiber market is segmented into staple fiber, cross linked fiber. Based on application, the lyocell fiber market is segmented into apparel, home textiles, medical and hygiene, automotive filters, others. Based on region, the lyocell fiber market is categorized into North America, Europe, Asia-Pacific, and MEA.

Lyocell Fiber Market Analysis by type

In 2021, the staple fiber market segment retained a majority of market share and dominated the global lyocell fiber market. Staple fiber plays a significant role in the creation of durable items like blankets, jackets, rugs, and wrap threads. Over the next few years, it is projected that the market for blankets, rugs, and carpets would increase due to the increased need for housing items. Consequently, it will fuel the staple fiber market segment over the years. During the forecasted period, the segment is projected to grow at a CAGR of 11.7%.

The demand for cross-linked fiber is anticipated to exhibit notable gains on account of its use in jersey fabrics, knitwear, and non-woven fabrics. During the forecast period, rising usage of the product in the manufacture of home textiles including curtains, bedsheets, and drapes is projected to fuel market expansion. The product's use in the automotive sector is also expected to dramatically increase lyocell fiber market demand.

Lyocell Fiber Market Analysis by application

Textiles hold the majority of the lyocell fiber market share due to the simplicity of knitting the material to create clothing and home fabrics. Additionally, the product's high resilience makes it easier to use in the creation of fabrics, which helps the sector flourish. The market growth is expected to be fuelled by China and India's significant textile manufacturing industries as well as growing government attempts to boost textile production.

Furthermore, increased production in the automotive and aerospace sectors coupled with increasing incorporation of naturally sourced fibers in interior applications of various industries will drive the lyocell fiber market growth over the forecasted period. The lyocell fiber industry is estimated to grow due to the fibres' higher performance features, such as strength and stretchability and an increase in the usage of lyocell fibres instead of the more common petrochemical fibres.

Rising demand for the product in the production of hygiene products including baby and adult diapers is projected to propel market growth. The key driver of industry growth over the projected period is likely to be rising consumer spending on hygiene and healthcare products and increasing awareness of the benefits of using hygiene products around the world.

Global Lyocell Fiber Market By Type, 2021 (%), 2021 (%)

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Global Lyocell Fiber Market Regional Insights

Asia Pacific dominates the world market for lyocell fibres in terms of volume. In 2021, Asia Pacific accounted for more than 70% of the global 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.

The other two biggest markets for lyocell fibres are North America and Europe. In 2021, these two regions held a 6.9% and an 8.5% share of the global market, respectively. Manufacturers in the U.S. have developed new strategies to compete in the industry in response to rising garment exports. An important market for textiles is Mexico. Numerous garment companies have expanded their business in Mexico, which will increase the product demand. The demand for lyocell fibre is expected to rise in Europe due to presence of multiple textile manufacturers in France, Germany, and the UK.

Latin America has a larger market for lyocell fibres than the Middle East and Africa, but the Middle East and Africa market is projected to expand at a faster rate during the forecast period.

Global Lyocell Fiber Market By Geography, 2021-2028, 2023-2030
  • Largest
  • Fastest

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Global Lyocell Fiber Market Dynamics

Lyocell Fiber Market Driver

High demand due to eco-friendliness and sustainability

  • The global 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.
  • The market for lyocell fibre will develop at a faster rate due to growing knowledge of its benefits, which include being lightweight, absorbent, breathable, wrinkle-resistant, durable, soft, and able to mimic a variety of textures, including suede, leather, and silk. The demand for premium clothes is growing, which will increase sales of lyocell fibre.

Lyocell Fiber Market Restraint

The limitations of lyocell fiber

  • Despite being biodegradable when used independently, lyocell cannot be composted when mixed with other synthetic fibres. Also, it takes a lot of energy to produce lyocell. Lyocell is a sensitive fabric, thus it is advised to wash it on the cold side without drying it. These factors hinder the industry's growth rate for lyocell fibre. Additionally, a lack of awareness, inadequate sales channels, and a failure to apply cutting-edge technology in the production of lyocellular fibres could hinder market expansion.
  • The lyocell fibre is extremely expensive to produce, which drives up the price of the final product even more. Furthermore, processing lyocell fibres takes time and effort, neither of which can be combined with a profit-making goal. The manufacturing costs of other textiles are less than those of lyocell fibre, thus the high cost of lyocell fibre production is a significant barrier to the lyocell fiber market's expansion.

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Global Lyocell Fiber Market Competitive Landscape

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.

Lyocell Fiber Market Top Players Company Profiles

  • 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

Lyocell Fiber Market Recent Development

  • In October, 2021, Lenzing AG announced that it is introducing matte TENCEL-branded lyocell fibers to its sustainable product line-up for the denim sector. In denim applications, the new fiber type is specifically created to disperse light and permanently reduce gloss, increasing the adaptability of indigo-dyed denim fabrics.

Global Lyocell Fiber Key Market Trends

  • 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.

Global Lyocell Fiber Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our business information services team that collects, collates, co-relates, and analyses the data collected by means of primary exploratory research backed by the robust secondary desk research.

According to our analysis, the lyocell fiber market is projected to expand as a result of rising demand, continued advancements in the textile manufacturing industry, rapid growth in the healthcare sector, and rising need for the raw material used in the production of hygiene goods including baby and adult diapers. The use of sterilised items is becoming more popular, and this will create more chances for the lyocell fibre market to expand. However, it is projected that the market for lyocell fibres will be hindered throughout the forecasted period due to the high cost of production and the absence of new technologies. Also, a lack of knowledge about lyocell fibre will negatively affect the market.

Report Metric Details
Market size value in 2021 USD 1036.27 million
Market size value in 2030 USD 2096.12 million
Growth Rate 7.3%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Million
Segments covered
  • Type
    • Staple Fiber, Cross Linked Fiber
  • Application
    • Apparel, Home Textiles, Medical, Hygiene, Automotive Filters, Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • 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
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Lyocell Fiber Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Lyocell Fiber Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Lyocell Fiber Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Lyocell Fiber Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Lyocell Fiber Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Lyocell Fiber Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQ's

Lyocell Fiber Market size was valued at USD 1036.27 million in 2021 and is poised to grow from USD 1111.78 million in 2022 to USD 2096.12 million by 2030, growing at a CAGR of 7.3% in the forecast period (2023-2030).

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 global 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 global 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.

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Global Lyocell Fiber Market

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