Pune, India, 17 Feb. 2022 (GLOBE NEWSWIRE) — The world ecological fiber market The size was valued at USD 45.76 billion in 2020. The market grew from USD 48.89 billion in 2021 to USD 86.62 billion in 2028, exhibiting a CAGR of 8.5% during the forecast period. Growing application of fiber in several industries and high demand for sustainable fibers is expected to fuel the growth of the market. Fortune Business Insights™ presents this information in its report entitled “Eco-fiber market, 2021-2028.”
Eco-friendly fiber is a durable fiber that is resistant to mold, mildew and eliminates the adoption of chemicals and pesticides. Growing fiber adoption in commercial, home and apparel applications is expected to drive product adoption. Additionally, the growing demand for sustainable fibers is leading to the adoption of environmentally friendly techniques to manufacture efficient fibers. Additionally, textile manufacturers are investing heavily in the development of natural and eco-friendly fibers to eliminate the problem of fabric waste. These factors are expected to drive the development of the market in the coming years.
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Impact of COVID-19
Manufacturing Constraints to Hamper Market Growth
This market is expected to be negatively affected during the COVID-19 pandemic owing to restrictions on manufacturing. The increase in COVID-19 cases has led to the imposition of strict containment standards by governments. Additionally, transportation restrictions have resulted in the lack of raw materials needed to produce the fiber. However, lockdown relaxations and the adoption of production machinery, disinfection methods, social distancing and reduced capacities have allowed manufacturers to recoup costs and increase annual revenues.
List of key players profiled in the market report
- Lenzing AG (Austria)
- American fibers (United States)
- Polyfibre Industries (India)
- Grasim Industries Ltd. (India)
- Shanghai Tenbro Bamboo Textile Co.Ltd. (China)
- China Bambro Textile (Group) Co., Ltd. (China)
- Pilipinas Ecofiber Corporation (Philippines)
- Teijin Limited (Japan)
- Foss Performance Materials (USA)
- David C. Poole Company, Inc. (USA)
The report provides a detailed analysis of major segments and latest market trends. It discusses in detail the driving and restraining factors and the impact of COVID-19 on the market. Moreover, it examines the regional developments and the strategies undertaken by the major market players.
The type, application and region are studied
By Type, the market is segmented into regenerated fibers, recycled fibers, organic fibers and others. Depending on the application, it is classified into medical, industrial, household and home furnishing, apparel/textile and others. Geographically, it is clubbed in North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa.
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Drivers and Constraints
Strong demand for sustainable fibers in emerging economies to drive market development
The rapid development of the medical, automotive and textile/clothing industries is expected to drive demand for environmentally friendly fibers. The rapid adoption of sustainable fabrics from emerging economies is expected to boost its adoption. Rising disposable incomes and changing shopping preferences lead to the adoption of high quality products and goods. Additionally, the growing adoption of fabric in interior design, upholstery and furnishings is expected to drive the development of the market. Moreover, its rapid adoption in the medical industry to develop surgical masks, bedding, surgical uniforms and others could boost the fiber’s sales. These factors can propel the growth of the eco-fibers market.
However, high fiber prices may hamper market progress.
Robust demand for eco-fibers from the industrial sector to drive market growth in Asia Pacific
Asia-Pacific is expected to dominate the eco-fiber market share due to growing demand for fabrics from industrial and apparel sectors. The market in Asia-Pacific stood at USD 17.27 billion in 2020 and is expected to gain a huge share in the coming years. Additionally, the growing adoption of the product by the construction, automotive, and textile industries may propel the growth of the market.
In North America, technological advancements in fiber waste disposal are expected to drive product demand. In addition, the growing demand for harmless disposable fibers is expected to facilitate the development of the industry.
In Europe, growing automobile production is expected to drive product demand. Its adoption in the production of seat covers, interiors, liners and handle covers is expected to boost sales. These factors can stimulate the progress of the market.
Leading companies launch innovative products to boost brand image
Leading companies operating in the market are launching innovative products to boost sales and improve brand image. For example, Liva, a brand of Birla Cellulose, announced its antimicrobial fibers in June 2020. They eliminate bacteria and viruses and maintain hygiene and freshness for a long time. This strategy can allow the company to strengthen its brand image. Moreover, the adoption of research and development, acquisitions, mergers, partnerships and the like can allow companies to strengthen their brand presence and establish a remarkable position in the market.
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Detailed Table of Contents:
- Search scope
- Market segmentation
- Research Methodology
- Definitions and assumptions
- Market dynamics
- Market factors
- Market constraints
- Market opportunities
- key ideas
- Main emerging trends – for main countries
- Main developments: mergers, acquisitions, partnerships, etc.
- Latest technological advancement
- Overview of the regulatory scenario
- Analysis of the five forces of carriers
- Qualitative Insights – Impact of COVID-19 on the Global Eco-friendly Fiber Market
- Supply chain challenges
- Measures taken by government/companies to overcome this impact
- Potential opportunities due to the COVID-19 outbreak
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Development of key industry
- June 2021: Södra and Lenzing have concluded an agreement for the promotion of the circular economy in the fashion sector. The companies have developed OnceMore pulp as a raw material for the production of specialist fibers under the TENCEL x REFIBRA Lenzing brand.
Take a look at related research information:
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Spunbond Nonwovens Market Analysis of the size, share and impact of COVID-19, by function (disposable and durable), by material (polypropylene, polyethylene, polyester and others), by application (personal care and hygiene, geotextiles, medical and others) and regional forecasts, 2021-2028
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