RAYON FIBERS MARKET ANALYSIS

Rayon Fibers MarketSize and Trends

The global rayon fibers market size is projected to reach US$ 21 million by 2024, and register CAGR of 8.1% over the forecast period (2019 - 2027).

Market Overview

Rayon is a fiber manufactured from naturally occurring cellulose present in wood pulp, or plant-based material such as cotton, and then transformed into synthetic fibers through the process of chemical treatment. Types of rayon include modal, viscose, out of which viscose rayon is the most popular type of rayon which can be blended with manmade or naturally occurring fibers in order to produce a fabric of different textures and weight. It is also the most versatile type of rayon owing to its degree of comfort, cost effectiveness, and absorbent properties.

Market Dynamics

Rayon fibers have a wide range of applications in a number of industries such as textiles, apparel, surgical equipment, upholstery, and feminine hygiene products. Rayon can mimic properties of other fibers such as nylon fibers, cotton, and wool which makes it a popular and cost effective alternative for use in varying climatic conditions. It also finds application in the apparel industry owing to its semi-synthetic nature. Technological advancements in the clothing industry are likely to benefit demand for rayon in the next few years. Growing preference for blended fabrics instead of purely synthetic fabric among the consumers is expected to influence demand for rayon fabric worldwide. Additionally, growing cotton prices have led clothing manufacturers to opt for rayon instead of cotton. As a result of increase in demand for rayon, companies are investing in manufacturing facilities, and pulp mills, in order to increase production of rayon.

Furthermore, scientists are focused on research and development activities centered on chemical reactivity and structure of cellulose. According to researchers, it may be possible to obtain cellulose molecules with a direct interaction with sunlight, carbon dioxide, and water. Such innovations may reduce the cost of obtaining raw materials required for manufacturing manmade fabrics. Properties of rayon fiber such as high tenacity, absorbency, abrasion resistance, as well as resistance to sunlight are expected to drive growth of the global rayon fibers market.

Market Trends