New York, United States , Sept. 13, 2023 (GLOBE NEWSWIRE) -- The Global Eco Fibers Market Size is to grow from USD 46.22 billion in 2022 to USD 98.19 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 7.8% during the projected period. In the near future, an increase in demand for eco fibers in the industrial segment is anticipated to provide significant opportunities for the eco fibers market. Eco fibbers’ wide range of applications in different industries are projected to increase demand for eco fibers in the coming years.
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Eco-friendly fibers are an important component of clothing and textile applications. Because they include natural, regenerated, and recycled fibers, they are also known as sustainable fibers. These fiber materials have properties similar to synthetic fibers, but eco fibers are more environmentally friendly in both production and use. Organic fibers are those that are grown and produced in an environmentally friendly manner. Eco fibers are a renewable source with numerous benefits such as high specific stiffness and strength, a desirable fiber aspect ratio, and easy availability from natural sources. Common plant-based eco fibers include bamboo, sisal, cotton, and jute. The eco fibers market is being driven by demand for eco-friendly fibers from industries such as textile/clothing, household furnishings, and industrial. The fashion industry is rapidly expanding as the textile/apparel, automotive, and medical industries grow. The growth of these industries is increasing demand for these eco fibers. Growing economies such as China, India, South Africa, and Southeast Asia are driving the eco fiber market forward. However, the availability of low-cost substitutes such as nylon, polyester, and cotton manufactured using low-cost methods makes the final product affordable to the majority of end users and the local population.
Browse key industry insights spread across 200 pages with 130 market data tables and figures & charts from the report on, “Global Eco Fibers Market Size, Share, and COVID-19 Impact Analysis, By Type (Regenerated fibers, Recycled fibers, Organic fibers), By Application (Textile/Clothing, Household Furnishings, Industrial, Medical), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." Get Detailed Report Here:
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The regenerated fibers segment is expected to grow at the fastest pace in the global eco fibers market during the forecast period.
The global eco fibers market is divided into three categories: regenerated fibers, recycled fibers, and organic fibers. The regenerated fibers segment is projected to expand at the highest pace in the global eco fibers market throughout the forecast period. The increase can be attributed to rising consumer demand for environment friendly, sustainable products.
The textile segment accounted for the largest share of the global eco fibers market in 2022.
The global eco fibers market is classified into textile/clothing, household furnishings, industrial, and medical applications. Among these, textiles held the largest share of the global eco fibers market in 2022. The increase can be attributed to the rapidly increasing global demand for clothing/garments.
Asia Pacific dominated the largest share of the global eco fibers market in 2022.
Asia Pacific accounts for the majority share of the global eco fibers market. The eco fiber market is expected to grow during the forecast period due to rising clothing demand and increased demand for sustainable textiles. The growing use of polyester, acrylic fibers, and viscose for household, technical, and clothing applications is expected to stymie the growth of eco fibers throughout the region. Furthermore, the increasing use of handbags, clothing accessories, and apparel is expected to boost textile demand in fashion and clothing applications in the coming years.
North America is projected to expand at the highest rate in the global eco fibers market throughout the forecast period. The market for eco fibers is increasing in the textile, industrial, medical textile, packaging, and household sectors.
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Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Eco Fibers Market include Sateri, Lenzing AG, Universal Fibers Inc., Aditya Birla Management Corporation Pvt. Ltd, Grasim Industries Ltd., Tangshan Sanyou Group Xingda Chemical Fibre Co., Ltd., US Fibers, Teijin Limited., Polyfiber Industries Limited, David C Poole Company Inc., Wellman Advanced Materials, Shanghai Tenbro Bamboo Textile Co. Ltd., China Bambro Textile (Group) Co., Ltd., Pilipinas Ecofiber Corporation, Foss Performance Materials, and Others.
Recent Developments
In April 2023, Lenzing Group, the world's largest manufacturer of wood-based specialty fibers, disclosed the launch of carbon neutral VEOCEL branded viscose fibers for Europe and the United States, expanding its global sustainable viscose fiber portfolio.
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