Lyocell Fabric is fastest growing segment fueling the growth of the global Lyocell Fabric market

The global Lyocell Fabric Market is estimated to be valued at US$ 1.26 Billion in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Lyocell fabric is made from wood pulp through a solvent spinning technique. It has properties similar to cotton such as breathability, absorbency, and softness. The need for sustainable and eco-friendly textile materials is driving demand for lyocell fabric.

Market key trends:
One of the key trends driving the growth of the lyocell fabric market is the rising demand for sustainable fabrics. Lyocell is considered environment friendly as the manufacturing process involves closed-loop production where solvent is recovered and reused. Also, the raw material for lyocell, wood pulp is renewable. This makes lyocell fabric appealing to consumers looking for greener options. Further, lyocell has properties similar to cotton but is more durable and easier to dye and is hence gaining popularity as an alternative to cotton. The increasing textile industry worldwide is also fueling the demand for lyocell fabrics.

Segment Analysis
The lyocell fabric market is dominated by the apparel sub-segment, which accounts for over 40% of the total market share. This is because lyocell fabric is lightweight, breathable and has a soft texture. It is increasingly being used for manufacturing dresses, pants, shirts and other apparel products and its demand is growing in the apparel industry.

Key Takeaways
The global lyocell fabric market is expected to witness high growth, exhibiting a CAGR of 6.9% over the forecast period, due to increasing demand for sustainable fabrics derived from wood pulp.

Regional analysis: Europe dominates the lyocell fabric market currently, accounting for over 30% of the global market share. This is because major lyocell fabric manufacturers such as Lenzing A.G. and Smartfiber AG are based in Europe. Asia Pacific is expected to be the fastest growing regional market over the coming years due to the large number of fabric manufacturing units and rapidly growing textile and apparel industry in countries such as China and India.

Key players: Key players operating in the lyocell fabric market are Lenzing A.G., Aditya Birla Group, AkzoNobel N.V., Smartfiber AG, Nien Foun Fiber Co., Ltd., Invista , Baoding Swan Fiber Co. Ltd., Qingdao Textiles Group Fiber Technology Co., Ltd., China Bambro Textile (Group) Co., Ltd., Acegreen Eco-Material Technology Co. Ltd., China Populus Textile Ltd., and Acelon Chemicals & Fiber Corp. Lenzing A.G. is a dominant player due to its wide range of lyocell fabrics such as TENCEL and ECOVERO.

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