Viscose Staple Fiber Market Will Grow At Highest Pace Owing To Increasing Demand From Textile Industry

The viscose staple fiber market has witnessed significant growth in recent years. Viscose staple fibers are manufactured cellulosic fibers used by the textile industry. They are primarily used in the production of clothing such as dresses, gowns, lingerie, sportswear and home textiles. Viscose staple fibers provide great features like excellent moisture absorption, high comfort, drapability and texture. The viscose staple fiber industry has grown owing to rising demand from the rapidly growing textile and apparel sector, particularly in developing economies. 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 2030.

Key Takeaways

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. The high demand from textile industry is driving the growth of the viscose staple fiber market globally. The demand for viscose staple fiber has increased significantly from developing regions like Asia Pacific owing to rapid expansion of textile sector in countries like India and China. Technological advancement in viscose staple fiber manufacturing process has led to development of specialty viscose fibers with improved properties. This is further widening the application scope of these fibers.

Market Trends

Growing Application Diversity - Viscose staple fibers are increasingly finding new applications beyond textiles like in nonwoven fabrics for wipes and feminine hygiene products owing to their properties. This growing application diversity is a key trend driving the market growth.

Sustainability Focus - With greater environmental awareness, there is a trend of switch to sustainable and eco-friendly materials. Manufacturers are investing in developing recycled or biodegradable viscose staple fibers produced from sustainable wood and agricultural sources using greener processes. This focus on sustainability offers significant market opportunities.

Market Opportunities

Rise of Ethics-driven Consumers - More consumers are now inclined towards brands ensuring ethical and sustainable sourcing as well as production. This offers opportunities for viscose staple fiber players engaging in sustainable practices.

Growth in Emerging Economies - Emerging economies in Asia and Latin America have been witnessing rapid economic development and rising living standards resulting in increased demand for clothing, home textiles etc. This offers major market potential to viscose staple fiber producers for catering to such emerging markets.

Impact of COVID-19 on Viscose Staple Fiber Market Growth

The COVID-19 pandemic has adversely impacted the growth of the Global Viscose Staple Fiber Market Growth. The imposition of lockdowns and travel restrictions led to a decline in manufacturing activities and disruptions across supply chains. This resulted in reduced demand for viscose staple fiber from end-use industries like clothing, home textiles, and industrial products. The textile sector witnessed a sharp fall in orders, exports, and revenue during the initial months of the pandemic in 2020. However, with gradual lifting of restrictions and resumption of operations, the market is slowly recovering. Economic stimulus packages by various governments are also boosting consumption and supporting market recovery. Going forward, increased focus on hygiene products and demand for affordable clothing are expected to aid growth in the post-COVID era. However, recurring virus waves continue to pose uncertainty over the growth trajectory in the near future. Manufacturers will need to focus on developing anti-microbial and self-cleaning viscose fibers to cater to rising hygiene requirements.

Geographical Regions

In terms of value, the Asia Pacific region holds the largest share in the global viscose staple fiber market. Countries like China, India, and Vietnam are major producers and consumers due to their large textiles industries. However, the region experienced a setback due to strict lockdowns in countries like India, which disrupted production activities. The European market was also drastically impacted due to high COVID-19 cases and economic downturn. Among regions, North America was relatively less affected and is recovering faster on the back of stimulus programs. Going forward, the Asia Pacific region is expected to regain growth momentum and solidify its dominance backed by resumption of operations and policy support by governments of developing nations.

Fastest Growing Region for Viscose Staple Fiber Market

Among geographical regions, Africa is projected to witness the fastest growth in demand for viscose staple fiber during the forecast period. Several factors are driving the African market's promising expansion. Higher population growth is translating to rising needs for affordable clothing and textiles. Additionally, initiatives to promote local manufacturing are encouraging investments in the region's textiles sector. Countries such as Egypt, Nigeria, and Ethiopia are emerging as major hubs for textiles production. Viscose staple fiber manufacturers are setting up new plants to cater to the growing demand from African nations. Thus, increasing domestic demand coupled with supportive government policies are fueling Africa's rapid emergence as the fastest growing regional market for viscose staple fiber.

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