US-based market research and management firm, Global Market Insights, has unveiled in a new report that the worldwide market of lyocell fibre is noting a boom. By 2024, the fibre’s market is expected to reach US $ 1.5 billion figure from US $ 850 million in 2016 at an 8 per cent expected CAGR growth.
The report, which revolves around the changing fashion trends, has also indicated that the above stated evolving fashion coupled with the use of recycled fibres will propel the growth of lyocell fibre market globally.
The adoption of the cellulose fibres is also rapidly increasing in high-quality textiles’ manufacturing. The report elaborates that the anti-bacterial lyocell fibre is made from the natural cellulose fibre, which comprises of certain characteristics such as economical in use; natural breathability; more moisture absorption property than cotton; and biodegradability. These factors contribute to increased demand in the lyocell fibre market, especially from healthcare, home textiles and apparel industry.
Additionally, the report underlined that implementation of the eco-friendly production process across the globe is another factor which is making a positive impact on the lyocell market. The social media platforms are also promoting the use of lyocell fibre in apparel products as the young population like wearing ‘Green’. This is also turning out to be a major element in lyocell fibre’s increasing demand.
Despite the aforementioned benefits, the market of lyocell fibre is anticipated to face certain challenges as it is yet an expensive product when compared with other eco-friendly fibres. The report highlighted that the delicate products, made from lyocell, need extra caring with various types of wash that increase the cost of its maintenance as well. Additionally, the product shrinks up to 3 per cent after the first wash, thereby, the growth of lyocell fibre might be affected.
“The pressure on synthetic fibre manufacturers has increased due to the increasing demand for naturally derived fibres. The healthcare and wound care textiles segment are likely to grow at a robust pace, owing to the evolving technologies for recovery of surgical wounds, thus propelling the lyocell fibre market,” concluded the report.
