Fairfield Market Research
Eco Fiber Market

Eco Fiber Market

Global Industry Analysis (2018 - 2021), Growth Trends, and Market Forecast (2022 - 2029)

Published Date: Upcoming | Format:

Industry: Chemicals & Materials | Author Name: Harshad

Importance of Eco Fibers as a renewable and a highly sustainable source for development of eco-friendly products remains instrumental in driving market growth. Growing awareness of the negative effects of synthetic material on environment has triggered the adoption of eco-friendly alternatives. Moreover, vast research has been carried out to develop Eco Fibers that can replace synthetic material. For instance, in India, Canvaloop, a Surat based startup has been focused on developing eco-friendly fibres. In 2021, it developed a technology to develop Eco Fibers from agricultural waste and hemp to provide sustainable fabrics to end users. Other perceived benefits such as low cost, renewability, lightweight and biodegradability are expected to bolster the growth of the Eco Fiber Market.

According to industry reports, the Eco Fiber Market was valued at approximately US$45 Bn in 2020 and is expected to exhibit at a stable rate of around 8% in the next five years. In 2020, Asia Pacific held a significant market share of around US$17 Bn and is expected to maintain status quo going forward.

Increasing Demand from Textile Industry to Fuel Eco Fiber Market Growth

Use of Eco Fibers in the textile industry has witnessing sharp increase since past couple of years on the back of growing fashion sector worldwide. There has been a rise in demand for various types of clothing such as casual wear, formal wear and designer wear across different age groups. Stably rising economy across various countries has resulted in an increased attraction towards luxurious brands among youth. This has driven the need for sustainable fabrics that are eco friendly and feature economic and social sustainability. Moreover, textile sector demands fabrics that have higher service life. Albeit few synthetic fibres show high durability, they generate pollution and energy waste. But their sustainable counterparts, apart from durability, offer better value for money and have no negative impact on the environment. This has pushed the demand for eco friendly fibres in manufacturing of various types of luxurious and functional fabrics in turn pushing the growth of the Eco Fiber Market.

Alternatively, Eco Fibers being highly sustainable and considered as fashion material, their application scope has been widening. They are increasingly being used in automotive seat covers, belts, window seals, gasket seals, hydroponics and other home accessories. In this backdrop, growing use in household applications, furnishings, medical and industrial applications has given an impetus to the growth of the Eco Fiber Market on the global front.

Organic Eco Fibers to Gain High Traction

Organic Eco Fibers are anticipated to witness high demand in the coming years. This is backed by increasing customer awareness regarding use of organic material and their benefits to environment and humans. Eco Fibers from organic sources offer health benefits such as anti-bacterial features, skin health, High UV resistance and high breathability. Additionally, increasing production of organic fibres is expected to contribute to the growth of the Eco Fiber Market. For instance, according to Textile Exchange, production of organic cotton touched 239 KT in 2019 and is projected to further increase. This factor continues to influence production of Eco Fibers through organic sources, in turn contributing towards valuation of the global market.

Asia Pacific Poised to Showcase Higher Attractiveness Index for Eco Fiber Market

Developing economies in Asia Pacific region are poised to lead the Eco Fiber Market in the coming years. This is mainly due to the exponential growth in the clothing and textile sector across countries such as China, India and Japan that demands use of sustainable fibres. Moreover, the region has been considered as the hub of manufacturing and has pulled interests of various companies to establish their manufacturing plants in Asia Pacific. This can be attributed towards cheap labour and land costs coupled with increasing pool of end users and favourable business environment. The textile industry being no exception to this, has been witnessing a stable increase since past years. This factor continues to influence the demand for sustainable and eco friendly material, consequently auguring well for the Eco Fiber Market.

In addition, environment issues apropos to chemicals used in textiles and their ill effects on humans and environment have triggered the need for Eco Fibers. Eco Fibers do not require high amounts of water, insecticides and pesticides, or other harmful chemicals and provide high durability and versatility in aesthetics and are a cost effective solution. This has pushed their use in geotextiles, furniture material, bags and carpets and other applications. Moreover, packaging is another sector where Eco Fibers find their usability. The sector has been witnessing high momentum in Asia Pacific which is expected to provide potential opportunities for Eco Fibers. For instance, according to PIAI (Packaging Industry Association of India), packaging industry is the fifth largest in the country growing at a rate of around 25% each year. This aspect coupled with need for eco friendly packaging solutions is likely to bolster growth of the Eco Fiber Market in the region in the years to follow.

Eco Fiber Market: Competitive Landscape

Major players in the Eco Fiber Market include SATERI, Universal Fibres Inc., Aditya Birla Management Corporation Pvt. Ltd., Tangshan Sanyou Group Xingda Chemical Fibre Co. Ltd., Lenzing AG, and US Fibres.

Global Eco Fiber Market is Segmented as Below:

By Application

  • Clothing/Textile
  • Household & Furnishings
  • Industrial
  • Medical
  • Others

By Type

  • Organic Fibers
  • Recycled Fibers
  • Regenerated Fibers
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • France
    • Germany
    • Russia
    • Rest of Europe
  • Asia Pacific
    • Japan
    • South Korea
    • India
    • China
    • Rest of Asia-Pacific
    • LAMEA

Key Elements Included In The Study: Global Eco Fiber Market

  • Eco Fiber Market by Product/Technology/Grade, Application/End-user, and Region
  • Executive Summary (Opportunity Analysis and Key Trends)
  • Historical Market Size and Estimates, Value and Volume, 2018 - 2021
  • Volume Consumption at Regional and Country Level, 2022 - 2029
  • Market Dynamics and Economic Overview
  • Market Size in Value and Volume, Growth Rates, and Forecast Figures, 2022 - 2029
  • Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
  • Regional and Product/Grade/Application/End-user Price Trends Analysis
  • Production Output Analysis (Major Producing Regions)
  • Value Chain and Five Force’s Analysis
  • Regional/Sub-region/Country Market Size and Trend Analysis
  • Company Market Share Analysis and Key Player Profiles

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