The Global Lyocell Fiber Market was $1.2 Bn in 2019, and it is expected to reach $2.2 Bn by 2026. It is eventually growing at a commendable high compound of annual growth rate CAGR of 9.3% between 2020-2026. However, the current pandemic of COVID-19 might make a slight difference in the growth rate in the present year. However, purchasing trends across healthcare and Baby accessories are supporting the growth of lyocell fibers across regions.
Some of the other factors supporting the growth of the market are a high rise for compact design, portability, and shape of any type.
Global Lyocell Fiber Segment Is Estimated to Witness Remarkable Growth
Source: SAI Research
The Global Lyocell Fiber Market has been segmented based on type, application and region. The rise in the level of comfortability, easy to use fabric, and easy body adaptability in the urban areas helps the market grow at a reasonable rate. Based on the application, the Global Lyocell Fiber Market has been segmented into a few categories, apparel, households and hospitality, healthcare, baby accessories, and transportation. People are moving towards more flexible design and promising factors, which is becoming a huge need and growth of this industry. All of these factors will help the overall market to grow at a decent rate in the coming years. Moreover, the demand for these materials will increase as people need them in their daily lives, and all of them will play a pivotal role behind the Global Lyocell Fiber Market to reach the ultimate destination during the forecast period.
By Region, Asia Pacific is Holding the Major Market Share
Global Lyocell Fiber Market is geographically segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East. However, the largest share of the market is held by Asia Pacific followed by North America. The reasons can be many for growth, but one of the ideas would always be attributed to the ecofriendly manufacturing process and usage of these products. Europe region is estimated to have a slow but promising growth over the projection period. Latin America and the Middle East are expected to witness steady growth during that period due to the rise of lyocell fiber usage. Hence, stringent regulations, high capital investments in developing new technologies will make a positive influence behind the growth during 2020 -2026.
Major Players in Global Lyocell Fiber Market
Key players profiled in the report include Acelon Chemicals & Fiber, China Populus Textile Limited, Chonbang, City Victor, Grasim, Lenzing, Nien Foun Fiber, Qingdao Textile Group Fiber and Sarga Eco-Textile.
Global Lyocell Fiber Market Has Been Segmented Into:
Global Lyocell Fiber Market: By Type
Global Car Air Purifier Market: By Geography
Rest of Europe
Rest of Asia Pacific
Middle East and Africa
Rest of Middle East and Africa
Rest of Latin America