Lyocell Fiber Market Size

Lyocell Fiber Market Size

Lyocell Fiber Market size was over USD 850 million in 2016 and is anticipated to witness growth at a CAGR of around 8% from 2017 to 2024 owing to its extensive usage in various end-use industries including home textiles, apparels, and medical equipment.  The rapid development in the healthcare industry and growing awareness of using sterilized products coupled with the increasing popularity of biodegradable fibers is likely to drive the global market.

The population has been continuously rising over the past few years. The rising per capita income of the people in Asia Pacific has fueled the textile and apparels industry growth. Robust economic growth has noticeably escalated the textiles demand. The increasing demand along with ongoing innovations in the textile manufacturing will drive the global lyocell fiber market in coming years.

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The product possesses high strength, especially in wet state. It has high durability and doesn’t shrink, which makes it a preferred choice for home textiles and apparels. It can easily blend with other fibers and can be dyed to provide desirable decorative effects. The product fibrillates under certain conditions which imparts aesthetics to the fabric.
 

The product manufacturing involves a closed loop process, wherein solvents and chemicals employed can be used again. The eco-friendly manufacturing process is also a major factor that will propel the lyocell fiber market growth. The chemicals used in the manufacturing process do not pose a threat to the environment as they are used in small quantities.