The global Skin Fibre Market is estimated to be valued at US$ 825.1 million in 2023 and is expected to exhibit a CAGR of 11.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Skin Fibres, also known as regenerated cellulose Fibres, are derived from natural materials such as wood pulp and cotton linters. These Fibres are increasingly being used in various applications such as textiles, filtration, automotive, and construction, among others. The advantages of skin Fibres include their excellent breathability, moisture-absorbent properties, and soft texture, which make them ideal for applications in the apparel industry. The growing demand for sustainable and eco-friendly Fibres is driving the market growth for skin Fibres.
Market Key Trends:
One key trend in the skin Fibre market is the increasing preference for natural and sustainable materials in the textile industry. With growing environmental concerns and the need for sustainable products, consumers are shifting towards eco-friendly Fibres. Skin Fibres, being derived from natural materials, offer a greener alternative to synthetic Fibres. This trend is driving the demand for skin Fibres in the textile industry as manufacturers strive to meet consumer preferences for sustainable clothing.
For example, DuPont de Nemours, Inc., a key player in the global skin Fibre market, offers its Viscose-based Fibre brand called LENZING™ ECOVERO™. This Fibre is made from sustainably sourced wood and pulp and is certified as biodegradable and compostable. It offers a sustainable choice to consumers without sacrificing comfort or functionality.
PEST Analysis:
- Political: The political factors influencing the skin Fibre market include government regulations and policies related to sustainability and environmental protection. Governments across the globe are implementing strict regulations to promote the use of sustainable and eco-friendly materials, which is driving the demand for skin Fibres.
- Economic: The economic factors influencing the market include the cost of production, raw material availability, and consumer spending patterns. The availability of raw materials and their cost can impact the profitability of skin Fibre manufacturers.
- Social: The social factors include changing consumer preferences towards sustainable and eco-friendly products. Increasing awareness about the environmental impact of synthetic Fibres is driving the demand for natural and sustainable alternatives such as skin Fibres.
- Technological: The technological factors influencing the market include advancements in Fibre production technologies. Continuous research and development efforts are being made to improve the properties and performance of skin Fibres.
Key Takeaways:
- Market size related content: The global Skin Fibre Market Segmentation is expected to witness high growth, exhibiting a CAGR of 11.5% over the forecast period. This growth can be attributed to increasing consumer demand for sustainable and eco-friendly Fibres.
- Regional analysis: Asia Pacific is expected to be the fastest-growing and dominating region in the skin Fibre market. The region has a large textile industry and growing environmental concerns, which are driving the demand for sustainable Fibres.
- Key players related content: Key players operating in the global skin Fibre market include DuPont de Nemours, Inc., Lenzing AG, Kelheim Fibres GmbH, Asahi Kasei Corporation, Grasim Industries Limited (Aditya Birla Group), Sateri Holdings Limited, Tangshan Sanyou Group Co., Ltd., Birla Cellulose (Aditya Birla Group), Indo Bharat Rayon (Aditya Birla Group), and China Bambro Textile Co., Ltd. These players are focusing on product innovation and sustainability to gain a competitive edge in the market.
In conclusion, the global skin Fibre market is witnessing high growth due to the rising demand for sustainable and eco-friendly Fibres. The market is driven by the increasing preference for natural and sustainable materials, government regulations promoting sustainability, changing consumer preferences, and advancements in Fibre production technologies. Asia Pacific is expected to be the fastest-growing region in the market, and key players are focusing on product innovation and sustainability to stay competitive.
