Viscose Staple Fiber Market Is Anticipated To Witness High Growth Owing To Rising Apparel Industry

 

Viscose Staple Fiber Market 

Viscose staple fiber finds extensive application in the textile and apparel industry due to its characteristics such as high absorbency, easy blending, low cost, and softness. It is primarily used to make viscose yarn used in textiles. The growing apparel industry across the globe due to rising population, improving economic conditions, and changing fashion trends is a major factor driving the demand for viscose staple fiber.

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 Share include 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. AT&T Inc. and Verizon Wireless currently hold the major market share and are investing heavily in expanding production capacities to meet the growing demand.

The rising population and improving economic conditions have resulted in increased disposable incomes allowing consumers to spend more on apparel and clothing items. This offers lucrative growth opportunities for viscose staple fiber manufacturers and players in the textile industry. The growing millennial population is especially driving demand for fashionable and trendy clothing made from viscose staple fiber.

Major players are focusing on geographical expansion strategies and setting up manufacturing facilities in Asia Pacific and Latin American countries to capture significant market share in high growth regions. Countries like India, China, Brazil, and Mexico offer excellent opportunities owing to the presence of a large textile industry and consumer base. Key players are also investing in R&D to develop newer grades of viscose staple fiber catering to different end-use applications.

Market Drivers

Growing apparel industry globally- rapid urbanization, rising incomes, changing lifestyle trends are fueling demand for different types of clothing made using viscose staple fiber

Market Restraints

Availability of substitute fibers- Viscose staple fiber faces competition from cheaper substitute fibers like polyester which may limit market growth.

Segment Analysis

The viscose staple fiber market comprises of textiles, nonwoven, and others as key segments. The textiles segment currently dominates the market, holding around 63% share in 2024. Viscose staple fiber finds extensive application in the textile industry for manufacturing clothing such as suits, dresses, shirts and other garments. It provides advantages such as soft texture, moisture absorption and drape ability. Hence, textile manufacturers prefer viscose staple fiber as a cheap alternative to cotton.

Within the nonwoven segment, the wipes sub-segment holds around 26% share, followed by personal hygiene and industrial wipes. Nonwoven products made using viscose staple fiber offers benefits such as flexibility, liquid absorbency and economic cost. Further, increase in health and hygiene awareness is propelling the demand for personal care wipes, contributing to the growth of the nonwoven segment during the forecast period.

Global Analysis

In terms of regions, Asia Pacific held the largest share of more than 55% in the global viscose staple fiber market in 2024. China accounted for the major consumption owing to presence of large textile industry and manufacturing hubs in the country. Availability of raw materials and low labor costs further aid market growth in Asia Pacific. Europe is projected to witness steady growth at a CAGR of around 6%, driven by rising demand from Germany, UK, Italy and France. However, North America will surpass Europe owing to high demand for reusable and sustainable nonwoven products such as wipes and textiles in the US and Canada.

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