Lyocell Fibers Market
Lyocell Fibers Market (Type: Staple Fibers and Filament Fibers; Application: Apparel [Sportswear, Denims, Others], Home Textiles [Curtains, Carpets & Upholstery, Beddings, Towels, Others], Medical, Footwear, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027
- Chemicals & Materials
- 227 Pages
Popularity of Denim to Bode Lucrative Prospects for Lyocell Fibers Market
According to a recently published study by Transparency Market Research (TMR), the sales of lyocell fibers will cross the one billion dollar mark for the first time in 2020, and the industry’s expansion can be majorly attributed to the mounting demand for apparel, especially denim and sportswear. The millennial populace seeking a wardrobe upgrade with the latest fashion is reckoned as a key demography for the industry, whose fickle choices are instigating manufacturers to pave the way for innovation. Besides the fashion industry, lyocell fibers have witnessed a slew of technological innovations off late, on account of the surging demand for non-woven fabrics from medical and automobile industries.
However, the well-established rayon, cotton, and linen market could lead to an uphill climb for the lyocell fibers market. Manufacturers need proper marketing campaigns to educate consumers regarding the unique properties of lyocell fibers, who will otherwise fail to close sales on account of the unattractive price tag of lyocell fibers as compared to conventional fibers.
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Recycle-Reuse-Upcycle - Next Business Model to Look For
A sharp increase in the global population and the reckless use of natural resources have engendered the concept of a circular economy, wherein, the make-use-dispose economic model is replaced by the recycle-reuse-upcycle model. A global rise in such initiatives is hard-pressing market players to use non-toxic solvents to achieve the production of fibers in an environmentally-benign manner.
Several regulations are formed that propose market players to discontinue the use of petrochemical fibers, which has catapulted the number of research and development activities to view lyocell fibers from technological lenses. Many market majors are seen integrating their recycling modules to optimize their resources. For instance, Lenzing AG announced the launch of a new generation of fibers, under the brand name Refabrica, which use cotton scrap left from the production of cotton clothing, in order to optimize its production capacity and align with regulatory norms.
Besides environmental implications, R&D activities are carried out by market players to enhance the properties of lyocell fibers, including warmth, comfort, performance, and dimensional stability. The ease of disposability of these fibers, by using sewage deposition, incineration, and landfilling processes is projected to prompt a shift from synthetic fiber to lyocell fibers in the near future.
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Surging Demand for Staple Fiber for Numerous Applications
As the 'quality over cost' ideology has been influencing the sales of products, end users have been expanding their portfolios by manufacturing products using staple fibers. The high fiber strength of lyocell fibers makes them suitable for the production of wrap threads, rugs, blankets, and coats, over filament fibers. Filament fibers are likely to advance at a CAGR of ~11% during 2019-2027, as the demand for denims continues to surge. However, increase in the manufacturing cost of filament fibers will turn textile manufacturers towards lyocell fibers.
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The lyocell fibers market is highly consolidated, with Lenzing AG holding ~90% of the market share, which makes the landscape less competitive. In addition, high capital investments required for the business set up, especially when the cost of new technologies is high, could create an entry barrier for market players. The lyocell fibers market is characterized by a low degree of backward integration, as textile manufacturers tend to manufacture fibers on their own.
In order to win in the market, manufacturers are collaborating with well-established transportation and logistics companies to deliver products in a stipulated time period. As consumers tend to prefer breathable and smooth fabrics, owing to the demanding lifestyle that they lead, manufacturers are enhancing the properties of lyocell fibers by combining them with textiles such as silk, wool, acrylic, polyester, and cotton, which is likely to widen the existing scope of the market.
Lyocell Fibers Market Description
- Lyocell fiber is extensively used in applications such as apparel, home textiles, medical, and footwear.
- These fibers are made of cellulose, which is found in wood pulp. Lyocell fibers can be recycled and easily disposed off through processes such as sewage deposition, incineration, and landfilling. This is projected to encourage manufacturers of fibers such as rayon, cotton, and synthetic fibers to shift toward the production of lyocell fibers in the near future.
- Lyocell fibers provide strength similar to that of polyester. These fibers are stronger than cotton and all other man-made staple cellulosic fibers. Lyocell fibers also possess very high dry and wet modulus for cellulosic fibers in both, dry and wet states. Therefore, lyocell fiber is an efficient material for the dyeing and finishing of clothing.
- Lyocell fibers are also highly crystalline in structure. As a result, these fibers offer high wet strength and excellent dry strength, and are thus are water washable. Furthermore, these fibers shrink less when wetted by water and dried vis-à-vis other cellulose fibers such as cotton and viscose rayon.
Key Growth Drivers of Lyocell Fibers Market
- The rising influence of Western lifestyle due to the increase in per capita income of people is fueling the trend of Western fashion across the globe. This, in turn, has boosted the consumption of casual fashion apparel such as denims, dress shirts, and casual shirts in developing countries such as India and China. The properties of lyocell fibers such as high water retention ability, comfort, and enhanced breathability are estimated to propel the demand for lyocell fibers in the next few years.
- The penetration of e-Commerce in the apparel sector is also driving the global apparel industry. Rise in the trend of highly fashionable clothing is also anticipated to drive the global apparel industry in the next few years.
What are the Key Challenges for Lyocell Fibers Market?
- High cost of production and the lack of availability of advanced technology for manufacturing lyocell fibers are estimated to hamper the lyocell fibers market during the forecast period.
- Additionally, lack of awareness about lyocell fiber is projected to adversely affect the market in the near future.
Lucrative Opportunities in Global Lyocell Fibers Market
- Rise in disposable income of consumers and increase in focus on beauty and grooming are likely to drive the demand for health and hygiene products, including moist toilet tissues, baby diapers, and face masks, in the near future
- Increase in the pollution of oceans due to the presence of micro-plastics, which is produced from machine-washed synthetic textiles, provides an opportunity for the development of eco-friendly fibers across the globe. This is anticipated to create lucrative opportunity for the global lyocell fibers market in the near future.
Asia Pacific to Dominate Lyocell Fibers Market
- Asia Pacific is a prominent consumer of lyocell fibers. China is estimated to be the major consumer of lyocell fibers in the region. Major players in the lyocell fibers market such as -
- Grasim Industries Limited
- Baoding Swan Chemical Fiber Group Co. ltd.
- Shanghai Lyocell Fibre Development Co., Ltd
- Smartfiber AG operate in China and India
- Growth of the lyocell fibers market in Asia Pacific can be ascribed to the increase in population and rise in urbanization in developing countries such as China and India. Additionally, rise in disposable income is driving the spending power of people in these countries, which is boosting the lyocell fibers market.
- The availability of new brands in non-metro states has also enabled an increasing number of people to access branded clothing. This, in turn, is driving the demand for apparel, thereby augmenting the lyocell fibers market.
Europe Likely to Offer Lucrative Growth Opportunities
- In terms of production, Europe is a prominent region of the global lyocell fibers market. Germany is anticipated to be a highly lucrative country for lyocell fibers in Europe.
- The significant share of Europe can be ascribed to the presence of a highly advanced textile industry in the region. Manufacturers in the region are striving to produce textiles from green materials such as lyocell. They are focusing on R&D activities for the development of cost-effective lyocell fibers.
- Germany-based Lenzing AG is a leading producer of lyocell fibers. It is renowned for its lyocell fiber brands such as TENCEL and VEOCEL.
- On June 26, 2019, Lenzing AG announced plans to build the world’s largest lyocell fiber production plant in Thailand. The company plans to invest around US$ 1.11 Bn in the new production facility for lyocell fibers.
Leading Players in the Market
- Key players operating in the global lyocell fibers market include -
- Lenzing AG
- Grasim Industries Limited
- Baoding Swan Chemical Fiber Group Co. ltd.
- Shanghai Lyocell Fibre Development Co., Ltd.
- smartfiber AG.S
- These players are engaged in research and development activities, strategic alliances, and mergers and acquisitions to gain a higher market share.
Lyocell Fibers Market - Scope of the Study
Transparency Market Research (TMR) conducted a detailed analysis to evaluate the growth trajectory of the lyocell fibers market during the forecast period of 2019-2027. This comprehensive research report covers some crucial insights for market players that can assist them in maintaining their positions and consolidate their market share.
The research report intends to offer rare and distinguished information apropos of the growth of the lyocell fibers market, and brings to the fore the latent growth opportunities for market players. With the help of the insights found by this research, stakeholders operating in the lyocell fibers market will gain an incisive outlook pertaining to the growth trajectory, which can help them in making sustainable strategies for their business growth.
This exclusive business study consists of an incisive outlook regarding the evolution of the lyocell fibers market and changing dynamics during the course of the forecast period of 2019-2027. This exclusive business study provides information regarding the crucial drivers, threats, opportunities, and trends available in the lyocell fibers market, in order to equip stakeholders with the most recent developments and market shifts.
This detailed research report also covers a comprehensive SWOT analysis of the leading, prominent, and emerging market players functioning in the lyocell fibers market. This will help stakeholders gain an in-depth outlook regarding the growth of the lyocell fibers market.
This exclusive guide analyzes and discusses Porter’s Five Forces to offer key strategies available in the lyocell fibers market over the course of the forecast period. This comprehensive guide offers significant information about the competition present in the lyocell fibers market by determining the key competitors. The exclusive report also includes key strategies, financials, and notable developments present in the lyocell fibers market during the forecast period of 2019-2027.
Lyocell Fibers Market - Key Questions Answered
The exclusive report on the lyocell fibers market offers valuable insights to stakeholders functioning in the landscape. Analysts of TMR have taken proper care while preparing the business study, so as to cover all the key aspects concerning the growth of the landscape for stakeholders in the lyocell fibers market. The report on the lyocell fibers market answers key concerns encircling the growth of the market. Some of the key questions answered in this global study include:
- What are the recent developments and market shifts observed in the lyocell fibers market?
- What are the key winning imperatives for leading and prominent players functioning in the lyocell fibers market?
- What are the significant trends stimulating the growth of the lyocell fibers market?
- Which end-use industry will exert strong influence on the lyocell fibers market?
Lyocell Fibers Market - Research Methodology
The research report conducted by Transparency Market Research (TMR) analysts consists of a systematic methodology, employed with a view to cull key insights pertaining to the growth of the lyocell fibers market during the forecast period of 2019-2027. Discussions with opinion leaders, market heads, vendors, distributors, industry experts, and key players were conducted in order to conduct primary research. In addition to this, our analysts also carried out a thorough secondary study of marketing collaterals, industry associations, company websites, and government statistics.
Lyocell Fibers Market - Segmentation
In order to present an incisive view of the lyocell fibers market, analysts and researchers of the report have segregated the lyocell fibers market based on type, application, and region. This comprehensive business study also analyzes the incremental opportunity present in the lyocell fibers market during the forecast period. The key segments of the lyocell fibers market are as mentioned below:
Middle East & Africa