Eco Fiber is a new material that is starting to be used in a lot of different industries. This is primarily because of the fact that this material is able to allow for a reduction in the amount of waste that is created by a number of different manufacturing processes. For one thing, it allows for a reduction in the number of trees that need to be cut down in order to produce a product. This is especially important for the environment because it means that there will be fewer trees being cut down and this can help to prevent deforestation. This in turn will help to ensure that the environment is protected from all of the different pollutants that are created as a result of manufacturing products.
Rapid growth of the textile industry and fluctuations in prices of conventional fabrics are expected to drive growth of the global eco fiber market. The textile industry is witnessing robust growth in both developed and emerging economies. According to the India Brand Equity Foundation (IBEF), India’s domestic textiles and apparel market was valued at US$ 100 billion in 2019. Consumers are increasingly preferring eco-friendly fibers that are made from organic cotton and bamboo fibers. According to IBEF, cotton production is expected to reach 36 million sales in FY 21. Hence, such factors are expected to drive growth of the global eco fiber market. Furthermore, increasing household applications combined with rising demand from daily and fashion wear is expected to propel the global eco fiber market growth in the near future.
High cost of final products as compared to other contemporary products is expected to restrain growth of the global eco fiber market. Among regions, Asia Pacific is expected to witness significant growth in the global eco fiber market. This is owing to rapid growth textile industry in emerging economies such as China, India, and Japan and the presence of raw materials as well as cheap labor. Furthermore, North America and Europe are expected to register a robust growth rate, owing to increasing demand for eco-friendly products in the region.
Key companies involved in the global eco fiber market are Shanghai Tenbro Bamboo Textile Co., Ltd, Lenzing AG, Foss Performance Materials, Grasim Industries Limited, Pilipinas Ecofiber Corporation, Universal Fibers, Inc., Pilipinas Eco Fiber Corporation, Polyfibre Industries Pvt. Ltd, Tangshan Sanyou Group Xingda Chemical Fibre Co, Polyfibre Industries Pvt. Ltd, Teijin Limited, and Wellman Plastics Recycling.
For instance, in June 2020, Teijin Limited introduced a new Solotex Eco-Hybrid high-stretch side-by-side (S/S) conjugated fiber.
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