The viscose staple fiber market comprises of products made from cellulose and manufactured into filament or staple fibers. The fibers are eco-friendly, soft, and absorbent offering advantages similar to cotton. Viscose staple is used in the production of fabrics which find applications in clothing, home furnishing, and hygiene products.
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 Growth 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. The key players are involved in expanding production capacities and launching new product lines to cater to the rising demand. For instance, in 2023 Aditya Birla Group expanded its viscose staple fiber plant in India.
The demand for viscose staple fiber is increasing from the textile industry owing to its properties and lower price point compared to cotton. Factors such as growth in population, rising disposable incomes in developing nations, and rapid urbanization are driving the demand for clothing and textiles. The viscose staple fiber market is expected to grow at a significant rate to meet this increasing demand over the forecast period.
Globally, the Asia Pacific region dominates the viscose staple fiber market and the trend is projected to continue owing to the presence of large textile manufacturing hubs and rapid economic growth. Leading players are focusing on capacity expansion plans and new product launches in countries across Asia and other global markets to leverage growth opportunities.
Market drivers
One of the key drivers for the viscose staple fiber market is the strong growth of the textile industry. The textile industry has been growing at a healthy rate globally due to rising living standards, changing fashion trends, and increasing demand for readymade garments and clothing. Viscose staple fiber is widely used in textile manufacturing and its market is directly connected to the performance of the textile sector. Continued development of the textile industry coupled with rising demand will augment the demand for viscose staple fiber over the next few years.
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