global-eco-fibre-market-is-predicted-to-reach-usd-80.11-billion-by-2028-:-fior-markets

Newark, NJ, Oct. 21, 2021 (GLOBE NEWSWIRE) — As per the report published by Fior Markets, the global Eco Fibre market is expected to grow from USD 52.2 billion in 2021 and to reach USD 80.11 billion by 2028, growing at a CAGR of 5.5% during the forecast period 2021-2028.

The eco fibre market is witnessing significant growth from the past years. This growth is attributed to growing concerns about the harmful environmental impacts of synthetic fibres which has contributed to the increased demand for environmentally friendly organic fibres. The use of chemicals and polymers in the production of synthetic fabrics is expected to limit order in the textile sector. Increasing awareness of sustainable textile manufacturing to meet environmental and social aspects, such as reducing pollution, is expected to fuel demand for eco-fibres worldwide over the forecast period. The textile industry is the primary consumer of ecological fibres. Fashion should remain one of the most profitable application segments. Furthermore, the emergence of e-commerce portals such as shopping portals that provide favourable discounted packages and free delivery services is expected to increase clothing consumption, thus leading the market. Growing environmental concerns, coupled with the volatile prices associated with conventional fabrics, have spurred eco-friendly fibres in the global market. Favourable regulations on the production of organic products and severe environmental sanctions on synthetic polymers are also expected to have a positive impact on market growth.

Eco Fibre is referred to as fibres made from renewable materials, such as jute, organic cotton and hemp. These are made with synthetic materials such as polypropylene and polyethylene, recycled and transformed into eco-fibres. Waste materials are recycled to be reused in this process. Plastic, metal and glass waste is now being recycled in various sectors. One of the biggest problems facing the planet is environmental destruction. Increasing urbanization is creating landfill pollution. Favourable regulations for the expansion of bioproducts and strict environmental controls on synthetic polymers are expected to positively influence the development of the eco-fibre market. Governments of various countries are taking steps to increase bio-based products and thus lead the eco-fibre market.

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The global eco fibre market is expected to witness significant growth, owing to increasing concerns about the harmful impacts of using synthetic fibres on the environment. Technological advances in terms of developing eco-friendly fibre fabrics that offer antimicrobial, hypoallergenic, insulating, UV resistant, highly breathable and absorbent characteristics should promote their importance in the apparel market, in the fast-growing online fashion market. Increasing disposable income and developing quality, innovative fabrics, regulations have been imposed on the production and disposal of synthetic sources of fibre production in economies that have shifted preference towards bio-based alternatives, such as organic cotton, hemp and others sources of ecological fibres. Factors holding back market growth are the rapid rise in prices for organic cotton and other environmentally friendly alternatives in developing and underdeveloped regions, the high costs of fertilizers, the expensive equipment required for organic production, and the frequent crop failures due to climatic irregularities. Strict environmental regulations formulated by the government will provide market growth opportunities.

Key players operating in global eco fibre market include US Fibers, China Bambro Textile (Group) Co., Ltd., Polyfibre Industries, Grasim Industries Ltd., Lenzing AG, Shanghai Tenbro Bamboo Textile Co. Ltd., Pilipinas Eco fibre Corporation, Teijin Limited, Wellman Advanced Materials, David C. Poole Company, Inc., Foss Performance Materials. To gain a significant market share in the global eco fibre market, the key players are now focusing on adopting strategies such as application innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership. US Fibers and Wellman Advanced Materials are some of the key manufacturers operating in Eco Fibre market.

  • For instance, in 2019, Lenzing AG launched world’s largest dissolving wood pulp plant in Brazil. This launch strengthened the position of the company across the world.

Manmade segment dominated the market and held the largest market share of 60.9% in the year 2020

Based on product, the global eco fibre market is segmented into natural, manmade/artificial, recycled, and organic. The Manmade/artificial segment dominated the market and held the largest market share of 60.9% in 2020. This growth is attributed to the rising demand for textile fibres free from harmful chemicals and growing concerns about the harmful environmental effects of using synthetic fibres.

Textile/Apparel segment dominated the market and held the largest market share of 59.15% in the year 2020

Based on application, the global eco fibre market is segmented into medical, industrial, textile/apparel, and household & furnishing. The textile/apparel segment dominated the market and held the largest market share of 59.15% in the year 2020. This growth is attributed to the rising demand for casual wear, formal wear, and fashionable clothing among all age groups and increasing use of luxury and trending trendy clothes, especially among youth and adult populace, increasing demand for household textiles, including carpets and rugs, curtains, chair seating, sofa cushions, and covers, and other home furnishings.

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Regional Segment of Eco Fibre Market

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
  • Asia-Pacific (China, Japan India, Rest of APAC)
  • South America (Brazil and Rest of South America)
  • Middle East and Africa (UAE, South Africa, Rest of MEA)

Based on geography, the global eco fibre market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Asia-Pacific region held the largest market share of 45.16% in the year 2020. This growth is ascertained by the Asia-Pacific region owing to rising awareness regarding the sustainable production of textiles, coupled with increasing demand for recycling fashion and organic clothing in the country. The changing consumer preference for smooth textured fabrics across the region will propel the market growth. The Asia-Pacific region is witnessing significant growth in India and China, ascertaining the growing demand for apparel and sustainable textiles. The market in North America is expected to witness substantial growth, owing to the high demand for advanced antibacterial and antimicrobial treated materials in the country.

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About the report:

The global eco fibre market is analysed based on value (USD billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.

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Fior Markets is a futuristic market intelligence company, helping customers flourish their business strategies and make better decisions using actionable intelligence. With transparent information pool, we meet clients’ objectives, commitments on high standard and targeting possible prospects for SWOT analysis and market research reports. Fior Markets deploys a wide range of regional and global market intelligence research reports including industries like technology, pharmaceutical, consumer goods, food and beverages, chemicals, media, materials and many others. Our Strategic Intelligence capabilities are purposely planned to boost your business extension and elucidate the vigor of diverse industry. We hold distinguished units of highly expert analysts and consultants according to their respective domains. The global market research reports we provide involve both qualitative and quantitative analysis of current market scenario as per the geographical regions segregated and comprehensive performance in different regions with global approach. In addition, our syndicated research reports offer a packaged guide to keep companies abreast of the upcoming major restyle in their domains. Fior Markets facilitates clients with research analysis that are customized to their exact requirements, specifications and challenges, whether it is comprehensive desk research, survey work, composition of multiple methods, in-detailed interviewing or competitive intelligence. Our research experts are experienced in matching the exact personnel and methodology to your business need.

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