Viscose Staple Fiber Market Market to Reach $16 Billion by 2021

 

Market Research Analysts at Beige Intelligence (Bangalore, India) announced this week they expect the worldwide viscose staple fiber market to reach approximately $16 billion by 2021 and the market to grow at a CAGR of 4.64% during the forecast period. Viscose fibers, primarily made of wood pulp (dissolving pulp), are chemically solidified cellulose fibers that shows high structural resemblance with cotton fibers.

 

Viscose fiber, usually soft, finds extensive applications in the manufacture of apparel, non-woven hygiene products, and as a packaging material. Viscose or rayon is often termed to be the reason behind the demise of the traditional textile industry in the 19th century because it turned out to be an effective alternative to cotton, wool, and silk. Viscose fiber has seen a dramatic rise in its adoption since its introduction as, unlike cotton, it is not only cheaper to produce but also has a supply chain that is reasonably insulated to environmental risks and agricultural commodity-price shocks.

The global viscose staple fiber market has been segmented on the basis of production method, application, and geography. While apparel manufacture constitutes 70%-80% of the applications for the material, non-woven manufacture remains an interesting opportunity in view of the rapidly growing demand.

This market research report (available for purchase starting June 15) provides an overview of the factors driving and restraining the growth of the global viscose staple fiber market. The report also outlines the key trends emerging in the market that will contribute to the growth of market during the forecast period. Some of the factors driving the growth of the market include the volatility and supply shocks of its substitute - cotton. Cotton prices are often subjected to immense volatility on account of uncertain climate conditions and supply-chain constraints forcing apparel manufacturers to turn to substitutes. Viscose stands as a strong substitute to not only cotton but also to synthetic polymers such as polyester and acrylics on account of the replenishable nature of its raw material. Viscose products, on account of their cellulosic origin are termed to be environment and skin-friendly on account of their botanical origin.

Some of the impending challenges confronting the viscose staple fiber market include over-expansion and under-utilization of production capacities, particularly in China. The global viscose production capacity, which stands at 5.65 million metric tons in 2015 expanded by 35% in the past five years, with growth in demand often trailing that of the production. Further, a growing preference for alternative cellulosic fibers such as lyocell and modal fibers that are produced through energy-efficient closed loop processes and symbiotic resource management is posing a challenge to the viscose fiber market.