The global eco fibres market is projected to reach US $ 74.65 billion by 2020, registering a CAGR of 11.46% from 2015 to 2020 by a recent report released by Research And Markets, which offers over 1.5 million research resources. The report also states that the Asia-Pacific region is the fastest-growing market for eco fibres, in terms of value and volume. This growth can be attributed to the growing industrial applications such as protective clothing in chemical, automotive, power industries, etc. Also, the availability of cheap labour in the Asia-Pacific region is responsible for the high market numbers and global shift of consumption, and production capacity from the developed markets to the emerging markets.
Eco fibres are used in industrial applications such as flame resistant clothing, ropes, shoes, automotive parts, solar panels, labels, etc. The eco fibres used in the industrial applications are mainly lyocell, recycled nylon, recycled polyester, viscose, and organic cotton. The industrial applications of organic cotton fibre are mainly in the chemical industry in the form of dissolving pulp for the manufacturing of cellulose nitrate, viscose, cellulose esters, and cellulose acetate. Recycled nylon fibre finds its usage as plastic fasteners, and other machinery parts used in the electronics industry for its non-conductivity and heat resistant properties. Increased usage in the industrial application segment in the next five years is expected to further boost the eco fibres market.
Research And Markets report says India and China are the two major economies for the eco fibres. The increasing demand from the domestic market and rising export business from these countries as well as from others such as the US, Brazil, Argentina and Peru are driving the market for eco fibres at global level.
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China’s consumption of eco fibres has grown extraordinarily and it is expected to witness further growth in the near future. This high growth of the eco fibres market in China can be attributed to the growing textile industry, encouraging trade conditions. Moreover, the better physical properties like strength and longevity as compared to virgin fibres also adds to the growth factor.
