VISCOSE STAPLE FIBER MARKET ANALYSIS

Viscose Staple Fiber MarketSize and Trends

The global viscose staple fiber market size was valued at USD 12.34 billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 4.3% from 2023 to 2030. Viscose staple fiber market is forecast to grow at a high CAGR during the projected period. This growth is attributed to increased demand for textiles and apparels from emerging economies such as the United States, China, Germany, Russia and the United Kingdom. The emergence of social networking sites, apps, and digitalization is also boosting sales of garments and uplifting the demand for viscose staple fiber. Additionally, increasing demand for healthcare and automotive industries is likely to drive the global viscose staple fiber market in the future. Moreover, the growing trend of consuming fast fashion apparel is further expected to drive the global viscose staple fiber market growth in the future.

Global Viscose Staple Fiber Market Trends:

Increasing working women population

The growing number of working women has been a driving force for growth of the apparels industry. The increased popularity of fast fashion has also contributed to the demand for apparels. Moreover, increased use of ordinary fibers in the apparel industry is further projected to foster market growth.

Growing production capacity of textile

In February 2020, Indonesia‘s largest integrated viscose rayon production facility was opened in Pnagkalan Kerinci, Riau province of Sumatra. Several senior officials, including Indonesian President Joko Widodo, attended the opening ceremony of the New Asia Pacific Rayon (APR) facility, which is part of the Royal Golden Eagle (RGE). This investment supports both the development of the country’s textile industry and the Indonesian Government’s industrial 4.0 development strategy.