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Asia Pacific Lyocell Fiber Market Size To Witness Steady Growth At 8% By 2024

07-15-2019 09:24 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Global Market Insights

Lyocell Fiber Market

Lyocell Fiber Market

The Asia Pacific market has been penetrated by several baby diaper brands, which will give a thrust to the lyocell fiber market. Rising disposable income of people in Asia Pacific has led to a high demand for baby diapers, which has augmented the product market growth. The region will grow with a substantial CAGR of approximately 8% by 2024. India and China will witness a soaring demand for baby diapers, owing to the high birth rates and rising awareness about pediatric hygiene. Indonesia has witnessed expansion of non-woven market which will accelerate the product market growth in the forecast period.

Lyocell Fiber Market is predicted to grow over USD 1.5 billion; according to a new research report. Changing fashion trends in the recent years has been mainly driving the lyocell fiber market size. Developing technologies have led to the evolution of improved quality fibers and development of recyclable fibers, which further escalates the demand lyocell fiber products demand, subsequently propelling industry growth.

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The environment friendly manufacturing process is one of the major factors that will propel the lyocell fiber market growth over the coming years. Chemicals used in the manufacturing process does not pose any environment threat as they are employed in minimal quantities. Favorable government regulations regarding the adoption of sustainable fibers for the textile industry will further drive lyocell fiber industry by 2024.

Additionally, strong growth in the healthcare industry will also boost the lyocell fiber market. Growing awareness regarding the usage of sterilized products, along with increasing biodegradable fibers acceptance is driving industry growth. The anti-bacterial characteristics of the product make it highly suitable for usage in manufacturing surgical products, which will further complement the lyocell fiber industry growth.

Despite numerous drivers, the lyocell fiber market may witness challenges from its high prices. When compared to its eco-friendly alternatives, the prices of lyocell fibers are too high, which may hinder the market growth.

The staple fibers are highly suitable for manufacturing thick fabric products such as carpets, blankets, coats, and rugs. The increasing demand for these commodities from the colder countries will propel industry growth by 2024. Additionally, the changing lifestyles and improving lifestyles of people in the developing nations are attributing to the demand for staple fibers.

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The cross-linked fiber is nonbiodegradable due to its small fibrillation properties. Landfill, incineration, and composting are some of the methods to decompose this fiber. These fibers are majorly used in many filtering applications and give a silky texture than staple fiber. The applications of cross-linked fiber are majorly in the manufacture of woven fabric, knitwear, and jersey fabric.

Apparel segment led the global lyocell fiber market and will exhibit promising gains by 2024. The desirable traits such as absorbent qualities and softness will drive lyocell fiber industry for apparels. The segment includes products such as denim, casual wear, sportswear, knitwear, coats, and various products. In 2016, this segment accounted more than 50% of global lyocell fiber market share. The growing online retail trading will further aid the growth of this segment over the coming years.

Key industry share contributors of lyocell fiber market are Acegreen Eco-Material Technology, Baoding Swan, Lenzing, China Populus, Qingdao Textiles Group, Chonbang, smartfiber, and Acelon Chemicals.

Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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