Global Lyocell Fiber Market Analysis 2018-2023 (10/01/18)

Global Lyocell Fiber Market Analysis 2018-2023 (10/01/18)

A new research report (Sept. 2018) by IMARC Group (India), titled "Lyocell Fiber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023", estimates that the global lyocell fiber market was worth around $891 Million in 2017. Lyocell is a type of man-made fiber derived from the cellulose of bleached wood pulp. Popularly known as the third-generation cellulose fiber, lyocell was first developed in 1972 by the process of dry jet-wet spinning. Lyocell fibers are strong but soft, highly absorbent, wrinkle-resistant and capable of replicating an array of textures like leather, suede and silk. Owing to these properties, lyocell fibers are utilized for manufacturing a wide range of products such as clothes, bedsheets, carpets, curtains, sportswear, surgical equipment, medical gloves, etc.

Global Lyocell Fiber Market Drivers:

Nowadays, lyocell fibers are being preferred over other type of fibers, such as cotton and rayon, on account of their tenacity and absorption efficiency. Owing to this, they are widely used in the apparel and home textile industries. Apart from this, the usage of lyocell fiber has gained popularity among the manufacturers due to an increasing demand for eco-friendly and biodegradable cellulose fibers. The fabrics made from lyocell can be easily disposed by landfilling, sewage digestion or incineration after usage. Further, unlike synthetic fibers which require toxic solvents, the production of lyocell fibers includes non-toxic solvents such as amine oxide. Additionally, as lyocell fibers are free from any toxic compounds, they are preferred for the production of medical-grade non-woven products. These fibers are also suitable for sanitizing wipes and overnight bleaching in the food service sector. Owing to the aforementioned factors, the market is further expected to reach a value of about $1.25 Billion by 2023, exhibiting a CAGR of nearly 6% during 2018-2023.