The global market for viscose staple fiber (VSF) reached a valuation of USD 13.32 billion in 2022 and is projected to continue its upward trajectory, reaching USD 13.91 billion in 2023 and an estimated USD 20.16 billion by 2030, marking a compound annual growth rate (CAGR) of 5.4% during the forecast period.
VSF, a cellulose fiber derived from natural sources such as wood pulp and cotton linter through regeneration, boasts several advantageous properties including excellent drape, softness, and high absorbency, rendering it highly suitable for various applications in home textiles, apparel, and consumer goods. Its utilization in the automotive sector for applications like carpeting, textile reinforcement in composite parts, and interior and exterior textile components is also significant, further propelling market growth. These insights are encapsulated in a comprehensive report titled "Viscose Staple Fiber Market, 2023-2030" by Fortune Business Insights™.
Market Segmentation:
High Wet Modulus Fiber and Strong Fiber Segments to Witness Prominent Growth
The market is segmented based on type into high wet modulus fiber, strong fiber, modified fiber, and others. Among these, the strong fiber segment dominated the market in 2022, attributed to its extensive usage in a myriad of industrial, medical, and domestic applications, as well as in apparel manufacturing.
Textile Apparel Industry Emerges as Key Consumer of VSF
In terms of end-use industry segmentation, the market encompasses textile apparel, healthcare, automotive, and others. The textile apparel segment holds a substantial market share owing to the widespread demand for VSF in the fashion industry, driven by its desirable properties like softness, absorbency, comfort, and cost-effectiveness.
Geographical Analysis:
The market spans across regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Driving Forces and Challenges:
Increasing Adoption of Sustainable Materials Propels Market Growth
The versatility of viscose staple fibers makes them highly sought-after in the fashion and apparel sector. With the fashion industry witnessing a surge in the utilization of sustainable materials due to growing consumer preference for eco-friendly clothing, the demand for VSF is anticipated to witness a significant uptick, fostering market expansion. However, environmental concerns associated with VSF production may pose challenges to market advancement.
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