Biodegradable Fiber Market Value, Growth, and Trends: Lenzing AG, NatureWorks, RadiciGroup
The Biodegradable Fiber Market refers to the industry that produces, processes, and distributes fibers that are capable of decomposing naturally in the environment through the action of living organisms, such as bacteria and fungi, over a relatively short period. These fibers are designed to reduce environmental impact, particularly in terms of waste management and pollution, by offering a sustainable alternative to traditional synthetic fibers.
Some of the key players profiled in the study are Lenzing AG (Austria), Teijin Limited (Japan), Aditya Birla Group (India), NatureWorks LLC (United States), Grasim Industries Limited (India), Recron Malaysia Sdn Bhd (Malaysia), Toray Industries, Inc. (Japan), Tangshan Sanyou Xingda Chemical Fiber Co., Ltd. (China), Nan Ya Plastics Corporation (Taiwan), Aquafil S.p.A. (Italy), Far Eastern New Century Corporation (Taiwan), Wellman Advanced Materials (United States), RadiciGroup (Italy), Asahi Kasei Corporation (Japan), Others.
According to HTF Market Intelligence, the Global Biodegradable Fiber market to witness a CAGR of 12.6% during forecast period of 2024-2030. Global Biodegradable Fiber Market Breakdown by Application (Textiles, Industrial, Household and Furnishing, Others) by Product (Lyocell Fiber, Polylactic Acid Fiber, Soybean Fiber, Regenerated Protein Fiber, Bamboo Fiber) by End Use (Organic, Manmade, Recycled, Natural) and by Geography (North America, South America, Europe, Asia Pacific, MEA). The report includes historic market data from 2019 to 2023E. Currently, market value is pegged at USD 5.8 Billion.
Market Trends:
- Increasing use of plant-based fibers such as hemp, bamboo, and jute, known for their biodegradability and sustainability.
Market Drivers:
- Increasing demand for eco-friendly alternatives to synthetic fibers due to growing awareness of environmental impact.
Market Opportunities:
- Growing market demand for sustainable and eco-friendly products creates opportunities for biodegradable fiber manufacturers.
Market Challenges:
- Ensuring biodegradable fibers meet performance standards and durability requirements comparable to synthetic fibers.
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