Global Rayon Fibers Market Size, Share & Trends Analysis Report, Type, By Application, By Region Forecasts, 2023 - 2030

Global Rayon Fibers Market Size, Share & Trends Analysis Report, Type, By Application, By Region Forecasts, 2023 - 2030

Global Rayon Fibers Market was valued at US $ 19.5 Billion in 2022 and is expected to reach US 35.6 Billion by 2030 growing at a CAGR of 7.8% during the forecast period 2023 – 2030.

The growing demand for eco-friendly and sustainable textiles is fueling the textile market's rapid rise. This trend stems from customers' increasing awareness of the environment and their preference for goods with less environmental impact. These environmentally conscious tastes are in line with sustainable fabrics, such as those manufactured from organic ingredients or recycled fibres like rayon. They are environmentally friendly options since their production procedures usually involve less resource use, fewer carbon emissions, and an avoidance of dangerous chemicals. Concerns about textile waste and landfill accumulation are addressed by biodegradability.

Labels and certifications attesting to safety and environmental standards increase consumer confidence and stimulate demand. The sustainable textile movement is gaining speed thanks to corporate sustainability initiatives, regulatory assistance, and the fashion industry's significant influence. Furthermore, sustainable fabrics frequently provide durability, which lowers the need for frequent replacements and appeals to customers who want high-quality goods that last. The sales proportion of eco-friendly apparel has increased steadily over the past ten years, and estimates suggest that by 2026, it will surpass six percent. This increasing trend is being driven by millennials and Gen Z, who together will account for almost 68 percent of sustainable apparel revenue in the US in 2022. Investment in environmentally friendly textile solutions and industry innovation are encouraged by this expanding market.

“Viscose Rayon segment, by type, to be dominating market from 2023 to 2030.”

With more than 35% of the market in 2022, viscose rayon fibre commanded a dominant position in the rayon fibre industry. These fibres are a flexible replacement in many industries since they have qualities similar to those of cotton. The method of producing viscose fibre begins with cellulose reacting with sodium hydroxide to make alkali cellulose, which is further reacted with carbon disulfide (CS2) to produce cellulose xanthate. Then, using the wet spinning method, it is dissolved in diluted sodium hydroxide and extruded through spinnerets into an acid bath. Because of their softness and lack of insulation, viscose rayon fibres are widely prized for their ability to be worked into gowns, ribbons, and trims. The market is anticipated to develop as a result of viscose rayon's increasing use in upholstery and apparel materials. The International Trade Centre has reported a significant rise in the global imports of viscose rayon filament from 90,489 tonnes in 2017 to 101,633 tonnes in 2019, indicating the growing demand for this adaptable fibre.

“Textile segment, by application, to be dominating market from 2023 to 2030.”

For several strong reasons, the rayon fibre market is led by the textile industry, which is growing at an impressive rate. Because of its unmatched adaptability, rayon can mimic a wide range of natural and synthetic fibres with ease, making it a fantastic option for a variety of textile applications. Because of its versatility and relative affordability when compared to high-end natural fibres, rayon is a desirable material for textile producers that want to strike a compromise between cost and quality. Moreover, the need for rayon fibres derived from sustainable sources, like bamboo or sustainably managed forests, has increased due to the textile industry's growing emphasis on sustainability. The environmentally benign qualities of rayon are a major factor in its growing popularity as consumer and business tastes become more and more influenced by environmental concerns. Because of its natural softness and comfort, rayon is especially well-suited for textiles used in bedding, clothes, and other applications where comfort is a top priority.

“Asia Pacific to be largest region in Rayon Fibers market.”

With about 62.4% of the global rayon fibre market share in 2022, the Asia Pacific region dominated the industry. Moreover, it is anticipated to increase at the fastest rate, with a predicted compound annual growth rate (CAGR) of more than 8.3% for the next time frame. With its quick expansion and leadership in the rayon fibre sector, the Asia-Pacific (APAC) region is leading the way. A myriad of elements that jointly determine the textile landscape of the region can be linked to this supremacy. Nations with a long history of textile production, such as China, India, and Japan, are well known for their textile customs. In addition, the sizeable population in the Asia-Pacific area, together with the developing middle class and their rising disposable income, has increased demand for textiles, especially rayon fibres.

APAC has also cemented its standing as the world's centre for textile manufacturing, providing experienced workforces, reasonably priced production sites, and a robust supply chain network. For producers of textiles, this attractiveness extends to rayon production, making it a top option. Globally, consumers' awareness of environmental issues is growing, and this has led to an increase in demand for eco-friendly and sustainable textiles like rayon made from sustainable resources like bamboo or managed forests.

Rayon Fibers Competitive Landscape

The competitive landscape of the Rayon Fibers market involves assessing the competitive landscape to understand the strengths, weaknesses, opportunities, and threats of the industry. Key industry players have recognized that the adoption of Rayon Fibers technology holds the potential for further growth. The growing desire among producers to optimize their production costs has spurred collaborative efforts among companies to scale up their production capacity. This strategic collaboration not only aims to increase revenue but also seeks to establish dominance in the market.

The Rayon Fibers market is highly competitive, with numerous companies vying for market share. Prominent companies in the Rayon Fibers Market include:

Major Players:

PT Tifico Fiber Indonesia, Grasim Industries, PT Asia Pacific Rayon, Aditya Birla Nuvo, Indorama Ventures, Indo Rama Synthetics, Eastman Chemical, Reliance Industries, Rayonier Advanced Materials, Grasim Industries, Kelon Group, China National Textile Group, Sateri, Lenzing, Jiangsu Sunshine Group, Shandong Ruyi Technology Group, Zhejiang Shaoxing Xinfeng Group

Recent Developments:

In December 2019, a major rayon fiber producer, Lenzing AG, made a about $1.3 billion investment in a Sao Paulo, Brazil, facility that dissolves wood pulp. With a 500 kilo ton capacity, this plant will generate cellulosic fibers for the biobased fiber market.

In October 2019, Lenzing AG and Dupont Biomaterials worked together to create a line of natural materials fabrics using TENCEL (modal & lyocell) fibers from Lenzing and Sorona fibers from Dupont. It is anticipated that this collaboration will accelerate rayon fiber growth.

With an annual production capacity of 100 kilo tons, Lenzing AG started building of the largest lyocell fiber facility in Thailand in November 2019. This project, which is expected to start operations in the second half of 2021, aims to supply the Asia Pacific region's expanding need for rayon fibers.