New York, Aug. 31, 2023 (GLOBE NEWSWIRE) -- The global Viscose Staple Fiber Market is expected to witness significant growth at a CAGR of 4.7% during the forecast period of 2023-2030. The factors such as the increasing development of new healthcare facilities, rising investment in automotive manufacturing, and others are accelerating the demand for viscose staple fiber, which, in turn, is boosting the market growth. In addition, the rising development of a new range of Viscose staple fiber product categories will further boost the market growth during the forecast period.
According to a recent report by Consegic Business Intelligence, the viscose staple fiber market is poised for strong expansion and is expected to reach USD 18,395.52 Million by 2030. The market, which was valued at USD 12,830.00 Million in 2022, is predicted to grow at a compound annual growth rate of 4.7% during the period 2023-2030. The report highlights the increasing adoption of viscose staple fibers in the textile industry, which is augmenting global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the viscose staple fiber market.
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Viscose staple fiber is frequently deployed in the textile industry to provide comfort and breathability. Viscose staple fiber is employed in textile products such as apparel, home textiles, and others. The factors such as growth in the research & development associated with the development of new eco-friendly textile products, increasing investments in textile zones, and others are some of the crucial factors accelerating the growth of the textile industry at the global level. For instance, according to the recent statistics published by the Italian Federation of Textiles, Fashion, and Accessories, in 2021, the Italian textiles industry showcased a positive trend over 2020. Furthermore, the Italian textiles market was valued at more than Euro 5.8 billion (USD 6.9 billion) in 2021, registering a year-on-year growth rate of 9.6% as compared with 2020. Hence, the advancing textile industry is fueling the demand for viscose staple fiber to ensure excellent fiber performance. This, in turn, is amplifying market growth.
Viscose staple fiber ensures prominent features in healthcare products to ensure superior softness, safe nature, and others. Thus, viscose staple fiber is utilized in healthcare products such as pads, bed sheets, and others. The increasing investment in the healthcare infrastructure, increasing government initiatives, and others are favoring the development of new healthcare facilities. As a result, the development of new healthcare facilities will accelerate the demand for pads, bed sheets, and others. This, in turn, will boost the demand for viscose staple fiber to ensure high absorbency, thereby creating a potential for market growth in the coming years.
Global Viscose Staple Fiber Market: Report Attributes
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Million) | USD 18,395.52 Million |
| CAGR (2023-2030) | 4.7% |
| By Application | Woven and Non-Woven |
| By end-use industry | Textile, Automotive, Healthcare, and Others |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more. |
| By Region | North America, Asia-Pacific, Latin America, Europe, Middle East & Africa |
| Key Players | LENZING AG, Sateri, Birla Cellulose, Kelheim Fibres GmbH, Asia Pacific Rayon Limited, Glanzstoff, SNIACE Group, Clossus Tex, China Hi-Tech Group Corporation (CHTC), and Tangshan Sanyou Group Xingda Chemical Fibre Co. Ltd |
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Key Market Takeaways
- Asia Pacific accounted for the highest market share at 36.35% and was valued at USD 4,663.71 million in 2022 and is expected to reach USD 6,723.56 million in 2030. Moreover, in Asia Pacific, China accounted for the highest market share of 25.05% during the base year of 2022.
- Based on application, the woven segment accounted for the highest share contribution to the viscose staple fiber market statistics in 2022.
- In the context of end-use industry, the textile segment is expected to contribute significant shares to the growth of viscose staple fiber market statistics during the forecast period.
- North America is expected to boost the market demand for viscose staple fibers due to the increasing investments in new textile manufacturing plants in countries such as Canada and Mexico.
Global Viscose Staple Fiber Market Segmentation Details:
Based on Application, the woven segment contributed the largest shares to the market growth in 2022. The crucial properties of viscose staple fiber include superior gloss, higher heat, excellent chromatography, and others. Thus, the corrosion of viscose staple fiber (VSF) is significant as compared with synthetic fiber. As a result, viscose staple fiber is frequently utilized in woven fabric to ensure superior esthetics and hanging dynamic. Thus, due to the above benefits, the adoption of viscose staple fiber is increasing in woven fabric. This, in turn, is boosting the market growth.
Based on End-use Industry, the textile segment accounted for the largest market share in the year 2022. viscose staple fiber is versatile and easily blendable fiber. Furthermore, the viscose staple fiber is utilized in its original form or can be blended with natural & synthetic fibers to ensure enhanced comfort, feel, and luster. Viscose staple fiber is utilized in textile products such as dress materials, knitted wear, apparel, home textiles, and others. As a result, the booming textile is propelling the demand for viscose staple fiber to ensure the soft texture of fabrics which, in turn, is supplementing the market growth.
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Based on Region, in the year 2022, Asia Pacific accounted for the largest share contribution to the market growth, owing to the growth of the pharmaceuticals industry. For instance, according to recent statistics published by Invest India, the Indian textile industry has witnessed a CAGR growth of 28% during the forecast period of 2019 to 2021. Henceforth, the revenue expansion of the above end-use industries is fostering market growth.
Competitive Landscape
LENZING AG, Sateri, Birla Cellulose, and Kelheim Fibres GmbH are major market players that comprise the latest market circumstances. These companies are substantially leveraging their technologies for the development of a new range of viscose staple fiber. Further, the viscose staple fiber market is expected to grow steadily due to rising demand from the textiles industry, especially in the regions such as the Asia Pacific, the Middle East, and Europe are estimated to boost the market statistics in the coming years. Additionally, the trend toward increasing strategic partnerships between viscose staple fiber manufacturers is expected to increase the competition in the market.
Recent Developments
- In July 2020, Renewcell, a textile company based in Sweden formed a collaboration with Levi on the Wellthread line. The line of jeans contains 40% circulose viscose staple fiber and is combined with 60% virgin organic cotton. Thus, the increasing partnership for the supply of viscose staple fiber is driving the market growth.
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List of Major Global Viscose Staple Fiber Market:
- LENZING AG
- Sateri
- Birla Cellulose
- Kelheim Fibres GmbH
- Asia Pacific Rayon Limited
- Glanzstoff
- SNIACE Group
- Clossus Tex
- China Hi-Tech Group Corporation (CHTC)
- Tangshan Sanyou Group Xingda Chemical Fibre Co. Ltd
Global Viscose Staple Fiber Market Segmentation:
- By Application
- Woven
- Non-Woven
- By End-use Industry
- Textile
- Automotive
- Healthcare
- Others
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Frequently Asked Questions in the Viscose staple fiber Market Report
- What was the market size of the viscose staple fiber industry in 2022?
- In 2022, the market size of viscose staple fiber was USD 12,830.00 million.
- What will be the potential market valuation for the viscose staple fiber industry by 2030?
- In 2030, the market size of viscose staple fiber will be expected to reach USD 18,395.52 million.
- What are the key factors driving the growth of the viscose staple fiber market?
- The booming textiles industry is fostering the viscose staple fiber market growth at the global level.
- What is the dominating segment in the viscose staple fiber market by end-use industry?
- In 2022, the textile segment accounted for the highest market share of 46.75% in the overall viscose staple fiber market.
- Based on current market trends and future predictions, which geographical region is the dominating region in the viscose staple fiber market?
- Asia Pacific accounted for the highest market share in the overall viscose staple fiber market.
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