VISCOSE STAPLE FIBRE MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)

 

Viscose Staple Fibre Market Analysis:

The market for viscose staple fiber is anticipated to exhibit a compound annual growth rate (CAGR) of over 4% throughout the forecast period. The COVID-19 pandemic has had a significant impact on the value chain in all aspects. The supply of raw materials was halted due to government restrictions, resulting in a drop in viscose fiber prices due to lockdowns in various countries. This compelled companies such as Lenzing AG to manufacture safety masks at their factories, as non-woven fibers are required for mask production. The pandemic had a negative impact on the market, particularly in the automobile and garment sectors. However, the industry experienced modest growth in 2021, as several companies began producing woven textiles in their facilities. The market is expected to grow positively within the projected timeframe.

In the short term, the demand for viscose fiber from the fashion apparel sector will drive the market. The expansion of synthetic fibers may impede the market growth of viscose fibers. Future market opportunities will arise from the increasing use of dense fibers in the medical sector. The Asia-Pacific region dominated the market and is expected to record the fastest CAGR during the forecast period.

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