Eco Fibers market booming – join the sustainable revolution with eco-friendly and biodegradable materials
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The global Eco Fibers market size reached USD 46.30 Billion in 2021 and is expected to register a revenue CAGR of 8.1% during the forecast period, according to latest analysis by Emergen Research.
In the upcoming years, the market for eco fibres is anticipated to expand significantly. Eco fibres, sometimes referred to as sustainable fibres, are created from organic cotton, bamboo, hemp, and jute, among other natural materials. Due to their eco-friendliness, they are being used more and more in a variety of industries, including fashion, textiles, automotive, and packaging. In the upcoming years, the market for eco-friendly fibres is anticipated to expand as a result of rising consumer demand for environmentally friendly goods and increased awareness of sustainable fashion and textiles.
The rising demand for environmentally responsible and sustainable goods is one of the main factors driving the market for eco fibres. Consumers are looking for products that are environmentally friendly as they become more aware of how their decisions affect the environment. Due to the industry’s reduced carbon footprint, the usage of eco fibres in textiles and apparel has gathered a lot of momentum in recent years. The need for eco-friendly fibres is being driven by the increase in environmentally concerned customers, which is anticipated to fuel market expansion.
The rising adoption of sustainable practises by manufacturers is another element boosting the market for eco-fibers. Businesses are recognising the value of sustainable practises and implementing them into their daily operations. Utilising eco fibres is a step towards sustainable practises, which benefits businesses in terms of marketing as well as lowering their carbon impact. The market for eco fibres is anticipated to increase as a result of this trend.
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However, there are also several limitations that could prevent the market for eco fibres from expanding. One of the key issues facing the sector is the high cost of production. Natural materials, which might be expensive, are used in the production of eco fibres. These materials are expensive to process and transform into fibres. Because of this, finished goods created from eco fibres are more expensive than similar goods made from conventional materials, which may be an obstacle for buyers.
Lack of knowledge and accessibility to eco fibres in some areas is another barrier. Even though there is a growing market for environmentally friendly items, many people are still unaware that there are eco-friendly fibres. Furthermore, it might be challenging for manufacturers to incorporate environmental fibres into their goods because of the restricted availability of these materials in some areas.
Eco Fibers Market segmentation
The Eco Fibers market is segmented based on product type and application. The product type outlook includes natural fibers, regenerate/manmade fibers, recycled fibers, and organic fibers. In 2021, recycled fibers accounted for the largest revenue share due to their eco-friendly nature and the increasing demand for sustainable products. The adoption of circular economy principles and the growing demand for sustainable packaging solutions are also driving the growth of the recycled fibers market.
The natural fibers segment is expected to witness significant growth during the forecast period due to the increasing demand for biodegradable and renewable materials. Natural fibers are derived from plant or animal sources and are considered a sustainable alternative to synthetic fibers. The use of natural fibers in the textile industry is expected to increase due to the rising demand for eco-friendly and organic clothing.
Regenerate/manmade fibers are derived from natural materials such as wood pulp or bamboo and are processed using chemical processes. These fibers are a cost-effective alternative to natural fibers and offer similar properties. The growing demand for sustainable textiles and the increasing adoption of circular economy principles are expected to drive the growth of the regenerate/manmade fibers segment.
In the application outlook, the textile/apparel industry accounted for the largest revenue share in 2021 due to the growing demand for sustainable textiles and clothing. The use of eco fibers in the textile industry helps reduce the environmental impact of the production process and provides a sustainable alternative to conventional textiles. The industrial segment is expected to grow at a steady CAGR during the forecast period due to the increasing adoption of recycled fibers in automotive, construction, and packaging applications.
The medical purposes segment is also expected to witness significant growth during the forecast period due to the increasing demand for eco-friendly and biocompatible materials in medical textiles and devices. The household & furnishing segment includes applications such as carpets, rugs, and upholstery, among others. The use of eco fibers in this segment helps reduce the environmental impact of the production process and provides a sustainable alternative to conventional materials.
The report also provides a regional analysis of the market, with a focus on North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Some Key Highlights From the Report
· Recycled fibers accounted for the largest revenue share in 2021 due to their eco-friendly nature and the increasing demand for sustainable products. Recycled fibers are made from post-consumer waste materials such as plastic bottles, textile scraps, and industrial waste. These materials would otherwise end up in landfills, contributing to environmental pollution. The use of recycled fibers reduces the dependence on virgin materials, which in turn, reduces the environmental impact of the production process.
· The industrial segment is expected to grow at a steady CAGR during the forecast period due to the increasing adoption of recycled fibers in industrial applications. The industrial segment includes applications such as automotive, construction, and packaging, among others. The use of recycled fibers in these industries helps reduce the environmental impact of the production process and provides a cost-effective alternative to virgin materials.
· Europe accounted for a significant revenue share in 2021 due to its strong focus on sustainability and environmental conservation. The European Union has set ambitious targets for reducing greenhouse gas emissions, increasing the use of renewable energy sources, and promoting circular economy principles. The use of eco fibers fits into this framework and is being encouraged by government policies and initiatives.
· Some major companies in the global market report include Lenzing AG, Polyfibre Industries, Shanghai Tenbro Bamboo Textile Co. Ltd., Teijin Limited, The LYCRA Company, Grasim Industries Limited., Foss Performance Materials, China Bambro Textile Co Ltd., Pilipinas Ecofiber Corporation, and David C. Poole Company, Inc.
· The Infinited Fibre Company stated on June 30, 2022, that it would build its first regenerated textile fibre manufacturing facility on the Stora Enso Veitsiluoto industrial complex in Kemi, Finland. 30,000 tonnes of recovered textile fibre will be produced on a production line by the Finnish business in a building that formerly housed a paper mill. The textile fibre mill, slated to start in 2024, is anticipated to bring 270 new employees to the Veitsiluoto industrial site. The goal is to attain capacity by 2025.
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