ECO FIBER MARKET ANALYSIS

Eco fiber is a thin long natural thread or a strand with flexible texture. This material is widely used in the textile industry, due to its natural and ecologically friendly properties. Textile-based products are generally manufactured using an extensive range of chemical agents, including scouring agents, wetting agents, soaping, and dyeing agents. The excessive use of these agents, has raised several concerns regarding environmental pollution, contributing to global warming. This in turn, is increasing the demand for eco fibers in the textile industry, thus boosting growth of the market.

Growing textile industry and fluctuations in prices of conventional fabrics are some of the major factors fuelling growth of the eco fiber market. Furthermore, major players operating in this market are increasingly engaging in the manufacturing of various eco-friendly products such as organic cotton and bamboo fibers. This in turn, is expected to propel growth of the eco fibers market. Production of organic cotton does not involve any pesticides or chemicals and reduces the consumption of water by around 70%. This is another major factor propelling growth of the eco fibers market, globally.

Eco Fiber Market Taxonomy

On the basis of product type, the global eco fiber market is segmented into:

• Synthetic Fibers
• Natural Fibers

On the basis of application, the global eco fiber market is segmented into:

• Textile
• Furniture
• Medical Supplies
• Others

Among product types, the synthetic segment held a dominant position in the eco fiber market in 2016. However, this segment is expected to be dominated by its natural counterparts, over the forecast period (2017 – 2025). Natural fibers are made up of natural materials such as hemp and jute. However, over 60% of consumers still prefer synthetic fibers over natural fibers, owing to its easy availability. Among applications, the textile segment accounted for the largest market share in 2016, and is projected to retain its dominance over the forecast period.

Asia Pacific held a dominant position in the global eco fibers market in 2016 and is expected to retain its dominance over the forecast period, followed by North America and Europe. Rapid growth in the textile industry and wide availability of raw materials coupled with cheap work force in this region are major factors propelling growth of the eco fibers market in Asia Pacific. Furthermore, emerging economies such as India and China are major growth engines. India is the largest producer as well as consumer of eco fibers and accounts for over 35% of the market share of the region.

Europe and North America account for the fastest-growing markets. According to the Food and Agriculture Organization (FAO) of the UN, countries such as U.K., Turkey, and Germany accounted for the major share in the eco fiber market in Europe, whereas U.S. holds the largest market in North America, accounting for over 50% market share.

Key Players in the Global Eco Fiber Market

Some of the key players operating in the global eco fiber market are Enkev Bv, Esprit Global, Envirotextiles, European Industrial Hemp Association, Flexform Technologies, Foss Manufacturing, Hayleys Fibers, Aditya Birla Management, Ananafit, Aquafi, Greenfibres, Bcomp, David C. Poole, Ecofibre, Ecological Fibers. Lenzing AG, Grasim Industries Limited, Teijin Ltd., and US Fibers.

Eco Fiber Market Key Developments: 

• In May 2019, Aditya Birla Group's Grasim Industries announced the expansion of its specialty fiber business, which is expected to increase the company’s capacity by 40% in the next two years. This expansion is further expected to help the company in catering its customer’s increasing demand.
• On 25^th April 2019, Aditya Birla Group’s Cellulose, the pulp and fibre business of India launched plantable tag for its eco-enhanced variant Livaeco. This new launch is expected to attract customers due to the adaptation of eco-friendly practices throughout the manufacturing process.
• In December 2014, FlexForm Technologies announced the formation of FlexForm Korea Ltd. for acquiring and expanding the company’s production lines in Jeonju City and in Cheonan, in South Korea. The company started its manufacturing from 2015. This expansion helped the company in fulfilling the customer’s demands in South Korea in a shorter span of time.