Viscose Staple Fiber Market: Current Analysis and Forecast (2021-2027)

Viscose Staple Fiber Market: Current Analysis and Forecast (2021-2027)

Viscose is a man-made fiber derived from cellulose dissolving pulp and its raw materials are diverse, e.g., wood, cotton, or bamboo can be used. Currently, hardwood forests are the main source of cellulose used in viscose production. Cellulose is transformed into dissolving wood pulp and sold to fiber producers for filament or staple fibers production. Global viscose fiber production capacity grew at an average annual rate of 7.7% during the first decade of the 21st century, driven primarily by expansion in Asian countries. About 85% of the total viscose fiber production is produced as staple fibers and about 15% as filaments. overall fiber production declined in 2020, and the market share of preferred fiber and materials is increasing. But even with this growth, preferred fibers still only represent less than one-fifth of the global fiber market. Furthermore, overall cotton production remained relatively stable over the last few years with a production volume of 26.2 million tonnes in 2020 (i.e., the 2019/20 ICAC harvest year), the market share of preferred cotton increased from 24% in 2018/19 to 30% in 2019/20.

Moreover, growth in the textile and fashion industry is also leading to the growing demand for viscose staples fiber. According to the world trade statistical review 2019, the current dollar value of world textiles (SITC 65) and apparel (SITC 84) exports increased by 6.4% and 11.1% respectively. This has been the fastest growth in the world textile and apparel trade since 2012.

Also, According to the FICCI document, the current global apparel market is about US 1.7 trillion and it constitutes around 2% of the world’s GDP. European Union, U.S., and China are the world’s largest markets with a combined share of approximately 54%. The top eight apparel consuming nations from a dominating share of 70% of the global apparel market size. It indicates that the demand for clothing and shoes is on the rise across the world. The global apparel market size is expected to reach US$ 2.6 trillion in 2025 with a projected growth rate of 4%.

Emerging per capita spending on apparel across the globe is leading to a growing market. The highest per capita spending on apparel is in U.S. (US$1,116) followed by Japan (US$ 855) and Canada (US$ 768). However, the change in percentage shows that will be higher in China (US$ 261) followed by U.S. (US$ 138) and Brazil (US$ 134).

Based on the raw material, the market is fragmented into wood pulp, cotton pulp, cellulose xanthate, and others. The wood pulp segment grabbed the major market share and dominated the market. The market of this segment would reach US$ XX Mn by 2027. Wood pulp has high demands in viscose staple fiber in their production for its low cost and also relatively short fibers provide better processability and mature infrastructure available in pulp and paper mills to produce large quantities at low cost.

Based on the application, the market is fragmented into woven, non-woven, and specialty. The woven segment grabbed the major market share and dominated the market in 2020. Expanding the textile and apparel industry across the globe is leading to the growing share of the woven segment. China, the EU, India, U.S., and turkey are the top 5 leading exporters of textile.

Based on the end-user, the market is fragmented into apparel & clothing, healthcare, automotive, and others. The apparel segment grabbed the major market share in 2020. However, the healthcare and the automotive segment would witness a considerable CAGR in the forthcoming years. The growth of the global apparel market is expected to remain moderately strong, owing to increasing disposable income in middle-class people globally to shorten the fashion cycles.

For a better understanding of the market adoption of the viscose staple fiber, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Europe region grabbed XX% market for the Viscose Staple Fiber Market industry and generated revenue of US$ XX Million in 2020. However, the Asia –Pacific region would witness the highest CAGR during the forthcoming years.

Some of the major players operating in the market are Asia Pacific Rayon Limited, Birla Cellulose, Glanzstoff, Jilin Chemical Fiber Group Co. Ltd, Kelheim Fibres GmbH, LENZING AG, Nanjing Chemical Fibre Co. Ltd, Sateri, SNIACE Group, Xinjiang Zhongtoi Chemical Co. Ltd, etc., Several M&As along with partnerships have been undertaken by these players to develop Viscose Staple Fiber across the globe