According to a recent research conducted by ReportsnReports, the global eco fibres market is projected to reach 74.65 billion dollars by 2020, registering a Compounded Annual Growth Rate (CAGR) of 11.46 percent from 2015 to 2020 with environmental degradation highlighted as a major concern among all the developed countries in the world.
Snowballing landfill wastes and the need to manage them for minimal environment harm have initiated the development of the recycling technology.
Nowadays, a major portion of the rPET bottle wastes go through the recycling process and get converted into recycled polyester or nylon fibres for use in clothing/textile, medical, fashion industries, and so on, outlines the report.
India and China on the front foot
According to the report, India and China are the two major economies for the eco fibers market. Both countries have experienced an increasing demand from the domestic market and rising export business.
Other economies seeing a rise in exports are USA, Brazil, Argentina, and Peru, all driving the market for eco fibers at global level.
In fact, the Asia Pacific region is the fastest-growing market for eco fibres, in terms of value and volume.
The growing industrial applications such as protective clothing in chemical, oil & gas, automotive, and power industries and cheap labour 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 is the dominating market, as the country´s consumption of eco fibres has grown exceptionally and is expected to witness further growth in the near future, highlight the authors of the report.
The high growth of the eco fibres market in China is a result of the growing textile industry, encouraging trade conditions, and its better physical properties as compared to virgin fibres such as strength and longevity.
Industrial application is the main driver of eco fibres sales worldwide
Eco fibres are used in industrial applications such as flame resistant clothing, ropes, shoes, automotive parts, solar panels, and labels, and so on.
The eco fibres used in the industrial applications are mainly lyocell, recycled nylon, recycled polyester, viscose, and organic cotton. The industrial applications of the latter are mainly in the chemical industry in the form of dissolving pulp for the manufacturing of cellulose nitrate, viscose, cellulose esters, and cellulose acetate.
On another hand, 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 fibres.
Amongst the main players in the industry, there are quite a growing number of Chinese and Indian firms, including the likes of Lenzing AG, Grasim Industries Limited, Teijin Limited, Wellman Plastics Recycling, LLC, US Fibers, David C. Poole Company, Inc., Foss Manufacturing Company, LLC., Polyfibre Industries Pvt Ltd., Shanghai Tenbro Bamboo Textile Co., Ltd. and Tangshan Sanyou Group Xingda Chemical Fibre Co., Ltd.