Lyocell Fibers Market to witness 8.2% CAGR from 2022 to 2031

Global Lyocell fibers market size was $1.3 billion in 2021 and is set to surpass $2.7 billion by 2031, witnessing a CAGR of 8.2% from 2022 to 2031. Lyocell Fibers Market forecast to depict favorable growth trends from 2022 to 2031. Global Lyocell Fibers Market is analyzed across product type, application, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.

Based on region, the global lyocell fibers market across Asia-Pacific generated nearly half of the total market revenue in 2021, and is anticipated to retain the lion's share by 2031. The same region would also showcase the fastest CAGR of 8.7% during the forecast period. The other provinces analyzed through the report include North America, Europe, and LAMEA.

Based on application, the medical and hygiene segment garnered more than one-fourth of the total market revenue in 2021, and is expected to dominate by 2031. The same segment would also project the fastest CAGR of 9.4% throughout the forecast period. The other segments analyzed through the report take in apparel, home textile, filtration, and footwear.

Based on type, the staple fibers segment held more than half of the total market revenue in 2021, and is expected to dominate by 2031. The others segment, on the other hand, would manifest the fastest CAGR of 9.8% throughout the forecast period. The filament fibers segment is also assessed in the report.

Lyocell fibers are highly demanded in the medical sector as it is used in medical dressings such as wound paddings, bandaging materials, tube bandages, wound gaze, underwear, nightwear for neurodermatitis patients, orthopedic supporting bandages, medical gauze, patches, compress, compression bandages, compression stockings, and plaster padding fabrics. This factor impacted the global lyocell fibers market positively.

At the same time, increase in awareness about health & hygiene and developments in the medical sector boosted the market growth even more.

The key market players analyzed in the global lyocell fibers market report include Acelon, Baoding Swan Fiber Co. Ltd, China Pouplas textile ltd, Lenzing Group, Great Duskan Corporation, Grasim Industrial Limited, Shanghai Lyocell fibers, Aditya Birla Yarn, Smart Fiber AG, Weiqiao Textile, Qingdoa Textile Group Fiber Textile, Acegreen, Sateri, Tamay Fiber Co. Ltd., and Chonbang Co Ltd. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance, product portfolio, operating segments, and developments by the top players.