Viscose staple fiber is manufactured from dissolving pulp using the viscose process. It finds widespread applications in textiles like suits, casual wear, shirts, jeans, home furnishing products, medical fabrics, and hygiene products owing to attributes like good absorbency, luster, texture and affordable price point. 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 of 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. The global demand for viscose staple fiber has increased considerably over the years owing to growth in the textile industry. Developing economies are witnessing rising disposable incomes and changing lifestyles which is propelling the growth of textile industries. Technological advancements like development of solvent-spun fibers and recycled viscose fibers are further augmenting the growth of global viscose staple fiber market.

Market Trends

Growing demand for sustainable and eco-friendly fibers: Viscose staple fiber can be produced from sustainable wood or bamboo pulp. Major producers are focusing on increasing the share of dissolving wood pulp obtained from sustainably managed forests which is driving the demand for viscose staple fiber.
Rising adoption of solution-dyed viscose: Solution-dyed viscose produces vibrant colors without pattern constraints. Major brands are resorting to solution-dyed viscose to offer fashionable clothing lines which is attributed to drive its demand.

Market Opportunities

Growing fashion consciousness among youth: Younger population across globe is willing to spend more on fashionable clothing. Producers can capitalize on rising fashion trends by introducing novelty ranges of viscose blended fabrics.
Increasing demand from developing economies: Countries like India, Indonesia, Pakistan etc. offer lucrative growth opportunities with rising income levels and expansion of textile industry. Local production of viscose staple fiber can help players target these high growth markets.

Impact of COVID-19 on Viscose Staple Fiber Market Growth

The COVID-19 pandemic has severely impacted the viscose staple fiber market growth globally. During the initial lockdown phases in 2020, Textile manufacturing facilities were shut down across major markets such as China, India, Europe and USA. This led to a significant reduction in demand and disruptions across the entire supply chain. The apparel and textiles industry was one of the worst affected sectors as consumer spending on clothing and other textiles declined sharply. This created a cascading negative effect on the demand for viscose staple fiber which is widely used in manufacturing of fabrics.

With the resumption of economic activities and lifting of lockdowns in 2021, the market saw some recovery signs. However, challenges like reduced workforce capacity, raw material shortages and global logistical issues persisted. The market also faced weakened consumer spending power due to rising inflation and job losses. Moving forward, trends like rising preference for eco-friendly fibers may drive growth prospects. However, revival to pre-pandemic levels will take longer as supply chain integration remains a challenge. The market players need to focus on measures to reduce production costs, strengthen distribution networks and target growth areas like sustainable fibers. Diversifying sourcing and optimizing inventory management will help mitigate future uncertainties.

Regional Concentration of Viscose Staple Fiber Market

In terms of value, the viscose staple fiber market is highly concentrated in Asia Pacific region, especially in China and India. China dominates the global production as well as consumption of viscose staple fibers owing to strong textile manufacturing base and large domestic market. The country accounts for over 50% of the global viscose staple fiber production capacity. India is another major Asian market and is among the fastest growing regional markets for viscose staple fibers. The widespread availability of raw materials, cheap labor and growing textile exports support the favorable market conditions.

Europe is another major regional market concentrated in countries like Germany, Italy and UK. The region has major apparel brands and strong technical textiles sector driving fiber demand. However, the market is currently hampered due to overall economic challenges facing Europe. North America is expected to emerge as the fastest growing regional market in future with a recovering economy and shifting focus towards sustainability.

Fastest Growing Region for Viscose Staple Fiber Market

Currently, the viscose staple fiber market in Asia Pacific region holds the largest share in terms of both production and consumption. Within Asia Pacific, South East Asian countries like Vietnam, Indonesia and Thailand are emerging as the fastest growing regional markets. This growth can be attributed to factors like expansion of textile manufacturing facilities by global brands, relatively lower labor and production costs compared to China and India, and government initiatives to promote investments. Additionally, rising domestic consumption and growing exports of textiles and apparels from these countries are augmenting the demand for viscose staple fibers. ease shifting of some production capacities from China also supports the market growth. If this region sustains the momentum, it is likely to witness double digit growth over the forecast period.

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