Viscose staple fiber is used as a raw material in the production of fabrics like viscose rayon, modal and acetate. It provides strength, appearance and easy care properties to fabrics. The growth of the textile industry globally has fuelled the demand for viscose staple fiber over the past few years. Viscose staple fiber can be blended with other fibers like cotton or polyester to manufacture fabrics that are both affordable and have good moisture absorption ability. The rising demand for sustainable and eco-friendly fabrics is also driving the viscose staple fiber market.
The Global Viscose Staple Fiber Market is estimated to be valued at US$ 14.83 Bn in 2024 and is expected to exhibit a CAGR of 7.8 % over the forecast period 2024 To 2031.
Key Takeaways
Key Players: Key players operating in the viscose staple fiber market are AT&T Inc., Huawei Technologies Co. Ltd., Verizon Wireless, Nokia Solutions and Networks B.V., Sprint Corporation, Alcatel-Lucent, T-Mobile US Inc., LM Ericsson, China Mobile Ltd., and Bharti Airtel Ltd. These players are focusing on capacity expansion and M&A activities to strengthen their market position.
Key Opportunities: There is immense opportunity for Viscose Staple Fiber Market Demand manufacturers in developing countries due to rising apparel demand and availability of low-cost labor. The bamboo viscose segment is also expected to provide good opportunities for sustainable growth.
Global Expansion: Key manufacturers are expanding globally through greenfield projects and acquisition strategies to gain access to new markets and diversify geographic risks. China and India are targeted aggressively for their large textile industry base and growing economies. European players are also acquiring Asian assets to benefit from favorable policies.
Market Drivers
- Growth of the textile industry worldwide is driving the demand for sustainable, eco-friendly and affordable fabrics like viscose.
- Development of bamboo-based viscose is catering to the rising preference for natural, sustainable fibers in fabrics.
Market Restraints
- Price volatility of raw materials like wood pulp affects the operating margins of viscose staple fiber manufacturers.
- Intense competition from synthetic fibers and stringent environment regulations can hamper the market growth to some extent.
Segment Analysis
The clothing and apparel segment is dominating the viscose staple fiber market owing to the high demand for viscose fiber in manufacturing clothes and fabrics. Viscose fiber is widely used in making shirts, dresses, suits, and other clothing items due to its excellent attributes like moisture absorption, easy wash, and soft texture. The home textiles segment is also gaining popularity due to rising consumer expenditure on home decor products. Viscose fiber finds extensive applications in manufacturing curtains, towels, bedsheets, and other home furnishing materials. The filtration segment is emerging as a lucrative segment as well on account of increasing utilization of viscose fiber in water filtration cartridges and air filters.
Global Analysis
The Asia Pacific region holds the largest share in the global viscose staple fiber market. China, India, Indonesia, and Vietnam are the major consumers of viscose staple fiber in the region. Strong growth in textile and clothing industries coupled with rising population and disposable incomes in developing Asian countries are propelling the demand for viscose fiber in the region. Europe is also displaying considerable growth owing to the presence of key manufacturers in countries like Germany and Italy and a strong fashion industry. The North American region is anticipated to grow at a steady rate during the forecast period due to the well-established textile sector in the US and Canada. However, Asia Pacific is likely to remain the dominant regional market over the coming years.
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