NEW YORK, Nov. 26, 2015 /PRNewswire/ -- The global eco fibers market is projected to reach USD 74.65 billion by 2020, registering a CAGR of 11.46% from 2015 to 2020. Environmental degradation is of a major concern among all the developed countries in the world. Increasing landfill wastes and the need to manage them for minimal environment harm have initiated the development of the recycling technology. Now-a-days, a major portion of the rPET bottle wastes go through the recycling process and get converted into recycled polyester or nylon fibers for use in clothing/textile, medical, fashion industries, and so on.
India and China are the two major economies for the eco fibers market. The increasing demand from the domestic market and rising export business from these countries as well as from others such as the U.S., Brazil, Argentina, and Peru are driving the market for eco fibers at global level.
Industrial application – fastest-growing application market for eco fibers
Eco fibers are used in industrial applications such as flame resistant clothing, ropes, shoes, automotive parts, solar panels, and labels, and so on. Eco fibers used in the industrial applications are mainly lyocell, recycled nylon, recycled polyester, viscose, and organic cotton. The industrial applications of organic cotton fiber are mainly in the chemical industry in the form of dissolving pulp for the manufacturing of cellulose nitrate, viscose, cellulose esters, and cellulose acetate. Recycled nylon fiber finds its usage as plastic fasteners, and other machinery parts used in the electronics industry for its non-conductivity and heat resistant properties. Increased usage in the industrial application segment in the next five years is expected to further boost the market for eco fibers.
Asia-Pacific- the fastest-growing market for eco fibers
The Asia-Pacific region is the fastest-growing market for eco fibers, in terms of value and volume. The growing industrial applications such as protective clothing in chemical, oil & gas, automotive, and power industries and cheap labor in the Asia-Pacific region is also responsible for the high market numbers and global shift of consumption and production capacity from the developed markets to the emerging markets.
China dominates the eco fibers market in the Asia-Pacific region. China's consumption of eco fibers has grown exceptionally and is expected to witness further growth in the near future. The high growth of the eco fibers market in China is a result of the growing textile industry, encouraging trade conditions, and its better physical properties as compared to virgin fibers such as strength and longevity.
This study has been validated through primaries conducted with various industry experts globally. These primary sources have been divided in three categories: by company type; by designation; and by region.
-By Company Type - Tier 1 – 50%, Tier 2 – 33% and Tier 3 – 17%
-By Designation – C level – 50%, Director level – 17%, Others – 33%
-By Region – North America - 18%, Europe – 12%, APAC – 70%
The report also provides company profiles and competitive strategies adopted by the major market players, such as Lenzing AG , Grasim Industries Limited , Teijin Ltd , and US Fibers , among others.
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