Latest News:- Bio-Based Fibre Market: Textiles and apparel is expected to lead the Application segment during 2024-2028

Bio-Based Fibre Market to grow at a CAGR of 7.7% during 2024-2028

The Bio-Based Fibre Market is expected to grow at a CAGR of 7.7% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 18599.4 million. The textile sector is witnessing a significant shift towards eco-friendly and sustainable textile production, driven by escalating consumer demand for ethical and environmentally responsible products. The NorthEastern Handicrafts and Handlooms Development Corporation (NEHHDC) is leading this trend with its Oeko-Tex certified Eri Silk, which was awarded in August 2024. This certification, issued by the renowned German organization, signifies the corporation's dedication to manufacturing textiles free from harmful substances and under sustainable conditions. Notably, Eri Silk, the world's only bio-based vegan silk, is ethically produced through a natural process that allows the silk moth to emerge from its cocoon without harm, leaving the silk intact. 

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The Textiles and apparel subsegment is expected to dominate the Application segment during the forecast period 

Technavio analysts predict that the Textiles and apparel subsegment will lead the Application segment during 2024 and 2028 The global bio-based fibre market is experiencing substantial growth in the textiles and apparel industry, driven by the imperative to discover eco-friendly alternatives to synthetic fibres. One of the most intriguing advancements in this domain is the application of mycelium, the intricate web-like structure of fungi, as a potential replacement for conventional synthetic fibres utilized in garments. This transition towards mycelium-based textiles is primarily fueled by its environmental advantages. Synthetic fibres, despite their versatility and durability, pose a significant environmental concern due to their contribution to pollution and their non-renewable origin derived from fossil resources.

Here are the various ways based on which the market is segmented: 

• Application
  • Textiles and apparel
  • Home furnishings
  • Automotive
  • Others
• Type
  • Synthetic fibers
  • Natural fibers
• Geography
  • APAC
  • Europe
  • North America
  • Middle East and Africa
  • South America

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There are several factors that are causing the market to flourish diverse feedstock utilization for production of bio-based fibres

Learn which are the obstacles that the market is experiencing in the way of its growth by accessing the free PDF report

Research Analysis Overview

The Bio-Based Fibre Market is witnessing significant growth due to the increasing demand for eco-friendly and sustainable alternatives to traditional fossil fuel-derived materials. The market includes a range of bio-based fibres such as Cellulose-based materials derived from plant fibres, Microbial sources like PHA (Polyhydroxyalkanoates), and Waste-derived materials. Bio-PET (Polyethylene Terephthalate) and PLA (Polylactic Acid) are popular Bio-based polymers used in the production of eco-friendly textiles and packaging solutions. Synthetic biology and Biorefinery processes are being explored to produce new Bio-based fibres and chemicals. Recycled fibers, Bio-based concrete, Insulation materials, Compostable containers, Biodegradable films, and Eco-friendly textiles are some of the applications for Bio-based fibres. Nien Foun Fiber, a plant-based fibre, is gaining popularity in the Textile and Apparel industry. Regulatory pressures are driving the demand for Bio-based chemicals, Natural fiber composites, Bioplastics, and Sustainable construction materials. The market is expected to grow further as consumers become more conscious of their environmental impact and regulatory bodies impose stricter regulations on plastic use.

Market Research Overview

The global specialty chemicals industry encompasses businesses specializing in high-value-add chemicals used in the production of various products, such as fine chemicals, additives, advanced polymers, adhesives, sealants, specialty paints, pigments, and coatings. According to Technavio, the market size is determined by the consolidated revenue of these businesses. Key growth drivers for the specialty chemicals market include the increasing preference for specialty adhesives and sealants due to their superior performance and versatility, which is expected to fuel market expansion throughout the forecast period.

The Bio-Based Fibre Market is experiencing significant growth, fueled by the diverse feedstock utilization for production of bio-based fibres. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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