The Global Lyocell Fiber Market was valued at USD 1022.44 million in 2020 and is expected to grow at a CAGR of 11.80% from 2020-2030. Because of its superior orientation, high degree of orientation and long fiber lengths, the global lyocell fiber market is projected to report notable gains due to the expanding application scope. Lyocell fiber is a raw material used in bleached wood, thus accounting for a huge demand scope due to the focus on minimizing the adoption of plastic based goods. It is also anticipated that the lyocell fiber industry will benefit from the product's environmentally friendly nature coupled with the biodegradability easiness. 

Wood is the basic raw material that is used to produce the lyocell products. Increasing focus on sustainable wood production will have a positive effect on the growth of lyocell fiber market size. Increasing demand for cellulose based products is expected to gain lyocell fiber market growth in the wake of rejection of petroleum based products. In addition, increasing lyocell fiber trends in reliance by major manufacturers in applications industries viz. textile, medical and automotive on the naturally produced products is probable to accelerate lyocell fiber market growth. In addition, increasing efforts by the governments across the globe to eradicate or minimize the percentage of plastic materials are expected to support the growth of the lyocell fiber industry over the forecast period. 

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Regional analysis for North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. Asia Pacific contributed the highest in volume and revenue in lyocell fiber market and is estimated to grow with the rising lyocell fiber market trend. Growing textile industry and improved living standards triggered the demand for Lyocell fiber market sales. In 2016, the region held a market value of approximately USD 600 million and will grow robustly in the coming years.

Increasing product demand in hygiene products such as baby and adult diapers is expected to drive lyocell fiber market growth over the forecast period. Rising consumer spending on healthcare and hygiene products is likely to emerge as the major factor driving industry growth over the forecast period. Moreover, growing consumer awareness worldwide about the use of hygiene products is likely to benefit the lyocell fiber industry growth.

The major players of global lyocell fiber market include, Smart Fiber AG, Aditya Birla Group, Qingdao Textiles Group Fiber Technology Co., Ltd., Lenzing AG, Acelon Chemicals, AkzoNobel, Lenzing AG, etc contributing to the major lyocell fiber market share across the globe.