Albany, NY, March 23, 2015 (GLOBE NEWSWIRE) -- Transparency Market Research has published a new report titled "Lyocell Fiber Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020". 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.
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Demand for lyocell fiber has increased significantly in the last few years, due to rising awareness about environmental sustainability in the textiles and medical products industries. Furthermore, growth in trend of fashionable wear coupled with rise in disposable income of individuals is estimated to drive the apparel industry. This, in turn, is projected to fuel demand for cellulose fibers such as lyocell. However, restraining factors such as the availability of low cost substitutes (polyester) in the fiber industry are likely to hamper market growth. Dynamics such as new product developments in the medical industry with regard to sterilized products coupled with rising trend of usage of biodegradable fibers are expected to provide new growth opportunities for the lyocell fiber market.
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Asia Pacific was the largest consumer of lyocell fiber in 2013. In terms of revenue, the market for lyocell fiber in the region accounted for over 65% of the market share in the same year. China and India are the top two exporters of textiles in Asia Pacific. These countries significantly use cellulose fibers as well as lyocell in a broad range of woven and non-woven products. Additionally, the market for lyocell fiber in Asia Pacific is anticipated to witness the fastest growth rate during the forecast period. Increase in consumers' disposable income has led to an improvement in the lifestyle of people in the region. Thus, demand for lyocell fiber is high in Asia Pacific. This trend is estimated to continue during the forecast period.
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Demand for lyocell fiber was the largest in the apparels application segment in 2013 and accounted for over 55% of the volume share. The apparels segment includes sportswear, casual wear, menswear, and womenswear. Increase in demand for lyocell fiber in apparels was ascribed to high demand for apparels in emerging nations in Asia Pacific. This segment was followed by the home textiles application, wherein lyocell fibers are widely used for making curtains, drapes, carpets, and bedsheets.
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The study features profiles of companies such as Lenzing AG, The Aditya Birla Group, smartfiber AG, Acelon Chemicals & Fiber Corporation, Chon Bang Company Limited, Weiqiao Textile Company Limited, and Qingdao Textiles Group Fiber Technology Co., Ltd.
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The lyocell fiber market has been segmented as follows:
Lyocell Fiber Market - Application Analysis
- Home Textiles
- Others (Including Surgical Products and Baby Diapers)
Lyocell Fiber Market - Regional Analysis
- North America
- Asia Pacific
- Rest of the World
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