Wilmington, Delaware, United States, July 12, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - A research report by Transparency Market Research (TMR) notes that the global lyocell fibers market is estimated to register growth at a CAGR of 11.8% during the forecast period, from 2022 to 2031.
The study by TMR offers detailed analysis of key market segments in lyocell fibers. Moreover, it covers data on the growth drivers, growth restraints, challenges, and investments avenues in the market.
Lyocell fibers are gaining traction as they are recyclable and can be easily disposed with the help of simple processes including incineration, landfilling, and sewage deposition. Owing to these lyocell fiber properties, the manufacturers of fibers including cotton, synthetic fibers, and rayon are inclining toward the production of lyocell fibers. This factor, in turn, is estimated to drive the market growth, notes the demand analysis of lyocell fibers market by TMR.
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Lyocell fibers provide strength similar to that of polyester. These fibers are stronger than cotton and other artificial staple cellulosic fibers. Moreover, they have very high dry and wet modulus for cellulosic fibers in both dry and wet states. Hence, such fibers are gaining traction as an effective material for different activities including dyeing as well as finishing of clothing, notes a TMR report on the lyocell fibers market.
The lyocell fibers market in estimated to gain sizable business opportunities in the Asia Pacific region owing to factors such as a rise in urbanization and overall population in many developing nations including India and China. Moreover, the Asia Pacific market is being driven by improving spending power of the regional populace. In addition, China is prognosticated to be a key market for players owing to the presence of sizable customer base in the region.
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Lyocell Fibers Market: Key Findings
- The lyocell fibers market is highly consolidated in nature. Companies operating in the market are using the strategy of collaborations with leading logistics and transportation service providers in order to ensure the timely delivery of their products, notes a TMR report. Moreover, companies are concentrated on advancing the quality of their products by combining lyocell fibers with different textiles including wool, silk, polyester, cotton, and acrylic. Such efforts are allowing companies to cater to rising consumer demands for smooth and breathable fabrics.
- Owing to highly crystalline structure of lyocell fibers, they hold an ability to provide excellent dry strength and high wet strength. As a result, these fibers are water washable. Several stakeholders operating in the lyocell fibers market are increasing focus on important applications such as denims, footwear, and sportswear. These efforts are estimated to result into profitable prospects in the global market for lyocell fibers in the forthcoming years. According to the sales projections in lyocell fibers market, the total valuation of the global market is estimated to surpass US$ 2.7 Trn by 2031.
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Lyocell Fibers Market: Growth Boosters
- Rising demand for athletic wear globally and improving spending power of people are resulting into revenue-generation opportunities in the global lyocell fibers market
- Increase in the demand for cellulose fibers owing to their different advantages including hydrophobicity, high moisture absorbency, and eco-friendliness is boosting the market expansion
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Lyocell Fibers Market: Key Players
Some of the key players profiled in the report are:
- Grasim Industries Limited
- Lenzing AG
- Baoding Swan Chemical Fiber Group Co. ltd.
- Smartfiber AG.S.
- Shanghai Lyocell Fibre Development Co., Ltd.
- SI Group, Inc.
Lyocell Fibers Market Segmentation
Type
- Staple Fibers
- Filament Fibers
Application
- Apparel
- Sportswear
- Denims
- Others
- Home Textiles
- Curtains
- Carpets & Upholstery
- Beddings
- Towels
- Others
- Medical
- Footwear
- Others
Regions Covered
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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