Viscose staple fiber is a type of rayon fiber produced from cellulose. It has properties similar to natural fibers such as cotton and is used to manufacture a variety of apparel and home textiles. The demand for viscose staple fiber is growing in the apparel industry as it provides advantages such as being budget-friendly and having a soft texture similar to cotton.
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 operating in the Viscose Staple Fiber Market Growth 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. New product launches and strategic collaborations are some of the key strategies adopted by these players to gain a foothold in the market.
The growing apparel industry especially in emerging economies of Asia Pacific presents significant opportunities for manufacturers to expand their consumer base. Technological advancements such as the development of Lyocell and modal fibers that have properties superior to viscose are expected to gain traction in the market.
Market Drivers
The rising demand for viscose staple fiber from the textile and apparel industry is the key driver propelling the market growth. Viscose staple fiber is widely used in the manufacturing of t-shirts, shirts, pants, socks and other clothing items due to its affordable price and soft texture similar to cotton. The growing population, urbanization and rise in disposable incomes in developing nations are increasing the demand for apparels which is positively impacting the viscose staple fiber market. Additionally, the low production cost of viscose staple fiber compared to other cellulosic fibers is encouraging textile manufacturers to use it thereby fueling market expansion.
Challenges in Viscose Staple Fiber Market
The viscose staple fiber industry is facing challenges due to fluctuating raw material prices and environmental regulations. Raw material prices directly impact production costs. Stringent environmental norms to reduce pollution during manufacturing present compliance challenges. Additionally, the demand swing due to economic cycles adversely impacts capacity utilization and profitability. However, innovation in production processes can help tackle some of these issues.
SWOT Analysis
Strength: Viscose staple fiber offers good absorbency and is inexpensive. It can be blended with other fibers to produce a wide variety of fabrics.
Weakness: The manufacturing process generates toxic waste and emissions. Also, viscose staple fiber is not as strong or durable as other man-made fibers.
Opportunity: Growing apparel demand from developing nations and demand for sustainable fabrics present expansion opportunities. Blending viscose with other fibers allows customizing properties as per end-use.
Threats: Strict environment regulations and growing preference for alternative fibers like modal and bamboo pose threats. Price volatility of raw materials is also a concern.
Geographical regions of concentration
The Asia Pacific region dominates the global viscose staple fiber market in terms of value. Countries like China, India, and Indonesia have a strong manufacturing base and huge textile industries that are major consumers. China alone accounts for over 50% of global viscose staple fiber production due to large capacities of domestic players.
Fastest growing region
The European region is projected to grow at the fastest pace during the forecast period. This can be attributed to factors like growing fashion industry, demand for comfortable fabrics, and stringent environmental norms compelling shift toward eco-friendly fibers in the region. Countries like Germany, Italy, UK offer immense opportunities.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.