June 16, 2024
Viscose Staple Fiber Market

Viscose Staple Fiber Market To Grow At A Notable Pace Owing To Rising Demand From Textile Industry

Viscose staple fiber is a type of regenerated cellulosic fiber derived from naturally occurring polymers such as wood pulp or cotton. It is an alternative to cotton and is extensively used in textiles due to its notable beneficial properties like excellent absorbency and dyeability. Viscose fibers are soft and smooth and provide a texture and absorbency 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 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. Key players account for major share of the market. AT&T Inc. is one of the leading players and offers various types of viscose staple fibers under the brand name Rayonier Advanced Materials.

The Viscose Staple Fiber Market Share is expected to witness substantial growth opportunities owing to the growing demand from developing economies of Asia Pacific and Latin America. Rising population, increasing disposable incomes, and growth of the textile industry are some key factors driving the demand in these regions.

The major players are focused on expansion in Asia Pacific and Latin America to tap the growth opportunities. Huawei Technologies, for instance, has set up manufacturing plants in China and research centers in India to boost its presence in Asia Pacific region. Similarly, Verizon Wireless acquired Tracfone, a leading wireless provider in USA, to consolidate its position in North America.

Market Drivers

The major driver for growth of global viscose staple fiber market is the significant demand from the textile industry. Viscose staple fiber finds extensive application in manufacturing clothes, home textiles, and apparel owing to its properties like excellent moisture absorption, soft texture and lustrous appearance. According to statistics, the global textile industry consumes over 60% of the total viscose staple fiber production annually. Moreover, viscose staple fiber has lower production cost as compared to alternatives like cotton which further propels its demand.

PEST Analysis

Political: The political environment for the viscose staple fiber market is shaped by trade policies and regulations related to environmental protection. Stringent environmental norms regarding deforestation and emission control in various countries impact the trade and production of viscose staple fibers.

Economic: The economic condition of major viscose consuming industries such as apparel and home furnishing influences overall demand trends. As economies grow and consumer spending power increases, the demand for affordable apparel and other end-use goods rises, benefiting the viscose staple fiber market.

Social: Changing lifestyles and preferences toward sustainable fabrics present opportunities for viscose staple fibers. Increasing awareness about eco-friendly textiles is driving demand for viscose made from renewable wood sources as an alternative to cotton and synthetic fibers.

Technological: Technological advancements in the manufacturing process help achieve higher productivity and quality consistency in viscose staple fiber production. Continuous innovation to develop new production methods and fiber varieties further expands the range of applications for viscose staple fibers.

The market in terms of value is concentrated majorly in Asia Pacific region. Countries like China, India, Indonesia and Vietnam account for sizable shares of global viscose staple fiber demand and production due to availability of wood raw materials and thriving textile industries in these nations.

The European region is also among the fast growing markets for viscose staple fibers worldwide. Countries including Germany, Italy, Spain and UK showcase strong demand growth owing to stringent regulations favoring eco-friendly fabrics and sustained apparel consumption in the bloc.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.