The Eco Fibers Market is valued at around USD 52.0 billion in 2022 and is expected to reach USD 78.3 billion by 2030, registering a CAGR of 8.5% over the forecast period.
Eco Fiber is a long, thin, and flexible structure made from minerals, plants, or living things. Eco fibres are made from renewable resources and have a number of benefits, including high specific strength and stiffness, a desirable fibre aspect ratio, and easy access to natural resources. Bamboo, cotton, sisal, and jute are a few common plant-based eco fibres.
Eco fibre is a fine, naturally occurring strand or thread with a flexible texture. Because of its all-natural and environmentally friendly qualities, this material is frequently employed in the textile industry. Typically, a wide variety of chemical agents, such as scouring agents, wetting agents, soaping agents, and dyeing agents, are used to make textile-based products. The over usage of these substances has given rise to many worries about environmental contamination and how it affects global warming. As a result, the textile industry’s need for eco-fibers is rising, driving the market’s expansion.
Changing costs for traditional fabrics and the expanding textile industry are two of the main drivers of the eco fibre market. Additionally, big market participants are progressively getting involved in manufacturing bamboo fibres and organic cotton, among other green items. In turn, this is anticipated to fuel market expansion for eco fibres. Without the use of pesticides or other chemicals, organic cotton production uses about 70% less water than conventional cotton production. This is yet another important aspect fueling the global market for eco-fibers.
Impact of COVID-19 on the Eco Fiber Market
The global market for eco fibres is severely impacted by the COVID-19 pandemic epidemic. Nearly all developing countries had slower economic growth as a result of the COVID-19 epidemic, which had an impact on consumer spending habits. One of the businesses that was severely impacted by this pandemic was the textile industry. The global market is seeing a double-digit decline in business orders for clothing. For instance, a programme to enhance working conditions in the clothing sector was started by the European Union (E.U.) and Better Work. They made the decision to enhance the labour conditions in nations like Bangladesh and Vietnam that are home to the textile industry. In the next years, it is hoped that initiatives like this would boost the industry and boost the demand for eco-friendly fibres.
The Coronavirus disease (COVID-19) epidemic has been deemed a public health emergency of global significance by the World Health Organization’s (WHO) International Health Regulations Emergency Committee. The virus started in China and has now reached at least 214 nations and territories.
Due to recent events surrounding the COVID-19 pandemic, a number of governments and private sector businesses are operating at a reduced capacity or have totally suspended operations.
Due to a lack of raw materials, labour shortages, and other factors, the production of many consumer items and other products was halted globally. The market for eco fibres is predicted to suffer as a result.
The Eco Fibers Market – Segmentation
The Eco Fibers Market fragrance concentrates market has been sub-classified into application, type.
On the basis of application, the Eco Fibers Market is bifurcated into:
• Household and furnishings
On the basis of type, the market is segmented into:
• Organic fibres
• Recycled fibres
• Regenerated fibres
The Eco Fibers Market Wi-Fi Market – Key Market players
Global key players of Eco Fibers Market include SATERI, Aditya Birla Management Corporation Pvt. Ltd (Grasim Industries Limited), Universal Fibers Inc., LENZING AG (ECOVERO), and Tangshan Sanyou Group Xingda Chemical Fibre Co. Ltd, among others.
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