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Oct 30, 2024

Bio-Based Fiber Market to Grow by USD 18.6 Billion (2024-2028) as Diverse Feedstock Usage Boosts Growth; AI-Driven Market Transformation Report - Technavio

Oct 29, 2024, 14:33 ET Share this article NEW YORK, Oct. 29, 2024 /PRNewswire/ -- Report with the AI impact on market trends - The global bio-based fibre market size is estimated to grow by USD 18.6

Oct 29, 2024, 14:33 ET

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NEW YORK, Oct. 29, 2024 /PRNewswire/ -- Report with the AI impact on market trends - The global bio-based fibre market size is estimated to grow by USD 18.6 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 7.7% during the forecast period. Diverse feedstock utilization for production of bio-based fibres is driving market growth, with a trend towards growing shift toward eco-friendly textiles. However, variability in costs of raw materials of bio-based fibres poses a challenge.Key market players include Acegreen Eco-Material Technology co, Ltd., AMSilk GmbH, Bambooder Biobased Fibers B.V., Baoding Swan New Fiber Manufacturing Co., Ltd., BPREG Composites, China Bambro Textile Co. Ltd., China Populus Textile Ltd, David C. Poole Co. Inc., Grasim Industries Ltd, Lenzing AG, Qingdao Textiles Group Fiber Technology Co. Ltd., Sateri Shanghai Ltd., SCALE Advanced Biocomposites, Shanghai Tenbro Bamboo Textile Co. Ltd., Smartfiber AG, Teijin Ltd., and USFibers.

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Bio-Based Fibre Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 - 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 7.7%

Market growth 2024-2028

USD 18599.4 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

7.2

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 46%

Key countries

China, India, US, and Germany

Key companies profiled

Acegreen Eco-Material Technology co, Ltd., AMSilk GmbH, Bambooder Biobased Fibers B.V., Baoding Swan New Fiber Manufacturing Co., Ltd., BPREG Composites, China Bambro Textile Co. Ltd., China Populus Textile Ltd, David C. Poole Co. Inc., Grasim Industries Ltd, Lenzing AG, Qingdao Textiles Group Fiber Technology Co. Ltd., Sateri Shanghai Ltd., SCALE Advanced Biocomposites, Shanghai Tenbro Bamboo Textile Co. Ltd., Smartfiber AG, Teijin Ltd., and USFibers

Market Driver

The textile industry is experiencing a shift towards eco-friendly and sustainable textiles due to increasing consumer demand for ethical and environmentally responsible products. Notable progress in this area is being made by the NorthEastern Handicrafts and Handlooms Development Corporation (NEHHDC), which secured the Oeko-Tex certification for its Eri Silk in August 2024. This certification, awarded from Germany, signifies the commitment to producing textiles free from harmful substances and under eco-friendly conditions. Eri Silk, a bio-based vegan silk, is produced through an ethical process where the silk moth naturally emerges from its cocoon, leaving the silk intact. This method aligns with global trends towards sustainable textiles and positions Eri Silk as a leading eco-friendly fabric. The certification also reinforces Eri Silk's status as a Geographical Indication (GI) product of Assam, highlighting its regional significance and authenticity. This recognition is expected to open new opportunities in the global export industry. The textile industry's move towards sustainability is driven by the need to reduce the environmental impact of production and promote a circular economy. Traditional craftsmanship can thrive in the modern market by aligning with contemporary values of sustainability and ethical production. The success of initiatives like NEHHDC's Eri Silk demonstrates the potential for eco-friendly textiles to drive growth in the global bio-based fibre market.

The Bio-Based Fibre Market is experiencing significant growth as businesses shift towards eco-friendly and sustainable solutions. Key trends include the use of Plant Fibres in Textile and Apparel, Nien Foun Fiber, and Bioplastics. Regulatory pressures are driving demand for Biodegradable films, Compostable containers, and Insulation materials. Natural fibers like Hemp-based products and Mycelium composites are popular in Sustainable Construction Materials and Green Packaging Solutions. Bio-Based Chemicals, Bioplastics, and Biopolymers like PLA, Bio-PET, and PHA are in high demand. Synthetic biology and Biorefinery processes are also gaining traction in the production of Bio-Based Polymers, Resins, Adhesives, and advanced Biofuels like Biodiesel and Bioethanol. The market also includes Sustainable Electronics, Semiconductors, and Eco-friendly Textiles like Mycelium Leather and Algae-based Textiles. Overall, the Bio-Based Fibre Market offers numerous opportunities for businesses looking to reduce their carbon footprint and meet sustainability goals.

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Market Challenges

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Segment Overview

This bio-based fibre market report extensively covers market segmentation by

1.1 Textiles and apparel- The global bio-based fibre market is experiencing notable progress within the textiles and apparel sector, driven by the demand for eco-friendly alternatives to synthetic fibres. Mycelium, the web-like root structure of fungi, is a promising development in this area. Researchers explore mycelium as a sustainable substitute for synthetic fibres used in clothing due to its environmental benefits. Mycelium fibres are renewable, biodegradable, and have a lower environmental footprint compared to synthetic fibres, which contribute to pollution and are derived from non-renewable resources. Mycelium fibres offer several advantages for textiles and apparel. They are flexible, durable, and can be produced with various textures and finishes, making them suitable for diverse clothing types. Controlled environment cultivation ensures consistent quality and properties. This adaptability caters to the fashion industry's diverse needs, from high-end fashion to everyday wear. The market potential for mycelium-based textiles is significant, with increasing consumer awareness of environmental issues driving demand for sustainable fashion options. Brands incorporating bio-based fibres into their products differentiate themselves, appealing to eco-conscious consumers and aligning with global sustainability goals. Ongoing research and development are crucial for the success of mycelium-based textiles. Scientists refine growing and harvesting processes to improve properties and scalability, leading to new applications and broader industry adoption. Collaboration between researchers, designers, and manufacturers is essential to overcome technical challenges and bring sustainable materials to market. The future of bio-based fibres in textiles and apparel looks promising, with mycelium playing a key role. As the industry innovates and prioritizes sustainability, mycelium-based textiles' adoption is expected to grow, reducing fashion's environmental impact and paving the way for new, sustainable materials.

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Research Analysis

The Bio-Based Fibre Market encompasses a range of natural and synthetic fibers derived from renewable plant sources, including Plant Fibre, Nien Foun Fiber, and Recycled Fibers. These fibers find extensive applications in various industries such as Textile and Apparel, Bioplastics, Natural Fiber Composites, Bio-based Chemicals, Sustainable Construction Materials, Green Packaging Solutions, Eco-friendly Textiles, Biodegradable Films, Compostable Containers, Insulation Materials, Bio-based Concrete, and more. The market is driven by increasing regulatory pressures to reduce carbon emissions and promote sustainability. The production of Bio-Based Fibres involves various processes such as Biorefinery Processes, Synthetic Biology, and the utilization of Microbial Sources, Plant-based Materials, and Waste-derived Materials. Key products include Bio-based Polymers like PLA (Polylactic Acid), Bio-PET, and PHA (Polyhydroxyalkanoates), as well as Cellulose-based materials. These fibres offer numerous benefits, including reduced carbon footprint, biodegradability, and eco-friendliness, making them a popular choice for industries seeking sustainable solutions.

Market Research Overview

The Bio-Based Fibre Market encompasses a diverse range of plant-derived fibres, including Nien Foun Fiber and natural fibers like hemp, used in various industries. These fibres find extensive applications in textiles and apparel, bioplastics, natural fiber composites, sustainable construction materials, green packaging solutions, and eco-friendly textiles. Regulatory pressures are driving the demand for biodegradable and compostable alternatives to traditional materials, leading to the development of biodegradable films, compostable containers, insulation materials, and bio-based concrete. Recycled fibers and biorefinery processes are also gaining traction, along with innovative start-ups exploring synthetic biology, microbial sources, and bio-based polymers like PLA (Polylactic Acid), Bio-PET, and PHA (Polyhydroxyalkanoates). The market also includes cellulose-based materials, mycelium-based products, algal biomaterials, and waste-derived materials. Applications span from bioplastics and eco-friendly textiles to advanced biofuels, sustainable electronics, and chemical producers.

Table of Contents:

1 Executive Summary2 Market Landscape3 Market Sizing4 Historic Market Size5 Five Forces Analysis6 Market Segmentation

7 Customer Landscape8 Geographic Landscape9 Drivers, Challenges, and Trends10 Company Landscape11 Company Analysis12 Appendix

About Technavio

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With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com/

SOURCE Technavio