Global Lyocell Fabric Market to Reach 745.9 KT by 2027 – Coherent Market Insights
SEATTLE--(BUSINESS WIRE)--Nov 25, 2019--
The global lyocell fabric market is estimated to reach 745.9 KT by 2027 from 415.6 KT in 2018, and is projected to exhibit a CAGR of 6.8% over the forecast period (2019–2027). Properties such as eco-friendly nature, anti-bacterial nature, excellent moisture absorbent capacity & durability of lyocell fabric is driving its demand. However, high cost of manufacturing lyocell fabrics compared to other eco fabric alternatives such as cotton, bamboo etc. is expected to hamper the market growth.
Key Trends and Analysis of the Lyocell Fabric Market:
Among product type, staple segment accounted for the largest market volume share in 2018, and the segment is projected to drive the market growth over the forecast period. The average fiber length of staple yarn is long which helps in producing even yarns. Therefore, the staple fabric is preferred over filament fabric.
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Among application, apparel segment held major share in the global lyocell fabrics market in 2018. Lyocell fabric feels like soft cotton or it can be added to other fabrics which results in more strong composite fabric than core fabrics. Therefore, it is majorly consumed in the manufacturing of soft apparels. Recently, there has been increasing demand for lyocell fabric in healthcare applications due to its high tensile nature.
In terms of consumption, Asia Pacific dominated the global lyocell market in 2018. Favorable growth of the textile industry in emerging economies such as China and India has created a highly conductive environment for growth of lyocell fabrics market in the region. According to India Brand Equity Foundation, the Indian textile industry is projected to reach US$ 230 Billion by the end of 2020.
Key Market Takeaways:
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INDUSTRY KEYWORD: OTHER CONSUMER ENVIRONMENT TEXTILES OTHER RETAIL MANUFACTURING OTHER NATURAL RESOURCES CONSUMER RETAIL NATURAL RESOURCES
SOURCE: Coherent Market Insights
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PUB: 11/25/2019 12:04 PM/DISC: 11/25/2019 12:04 PM