Viscose Staple Fiber Market Driven By High Demand For Apparels
Market drivers
One of the key drivers of the viscose staple fiber market is the surge in online shopping. Due to the COVID-19 pandemic and social distancing norms, online shopping platforms witnessed massive growth over the last few years. This has propelled the demand for fabrics made from viscose staple fiber. Apparel manufacturers are focusing on increasing their online offerings, thereby positively impacting the viscose staple fiber market. The excellent draping property and affordability of viscose staple fiber make it an ideal material for apparel sold online.
Current Geopolitical Situation and its Impact on the Viscose Staple Fiber Market Growth
The geopolitical tensions across the globe are significantly impacting the Viscose Staple Fiber Market Size growth. The trade wars between the US and China, and rising political conflicts in the Middle East are disrupting global supply chains. This is hindering the easy availability of raw materials in different parts of the world. The rising raw material prices and supply bottlenecks due to geo-political issues are negatively impacting the profit margins of viscose staple fiber producers.
However, governments across regions are now focusing on strengthening the local viscose staple fiber industry and reducing dependence on imports. This includes providing subsidies and incentives to industries to set up manufacturing plants within their territories. Local production will help insulate the market from external shocks. Producers will also need to diversify their supplier base and build strategic inventories to offset impacts of geopolitical risks on raw material supply. Investing in innovative technologies for improving production efficiency can help maintain competitiveness despite rising input costs. Exploring new export markets will further aid future growth prospects.
Geographical Regions with Highest Viscose Staple Fiber Market Concentration
The viscose staple fiber market in terms of value is currently concentrated highly in Asia Pacific region, driven by strong demand from China, India, Indonesia and Vietnam. These countries collectively account for over 65% of the global viscose staple fiber demand led by a booming textiles sector. Countries like China have been strategic in developing large scale indigenous viscose fiber production capabilities to meet domestic needs and also emerge as key export hubs. Availability of low cost raw materials and labor in Asia has encouraged significant capacity additions within the region over the years.
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