Market Overview: The global market for viscose fiber exhibited significant strength in 2020 and is projected to maintain a steady revenue compound annual growth rate (CAGR) throughout the forecast period. The growth is driven by the increasing demand for household and medical textiles, as well as its expanding application in industries such as automotive and construction. Moreover, the market is bolstered by a high demand for apparels due to the rising spending power of consumers worldwide.

Viscose staple fibers are biodegradable fibers that resemble cotton. These fibers are manufactured using wood pulp and cotton pulp. Viscose staple fiber is a synthetic textile made from viscose, obtained through the degradation of cellulosic materials. It is used in the production of fabrics for garments and household textiles, either in plain or blended form. Textile manufacturers often combine viscose staple fiber with cotton and linen to enhance fabric strength, shine, or elasticity. Additionally, it finds application in medical textiles, such as bandages, due to its high wet modulus of elasticity, which allows these items to retain their shape even after repeated stretching.

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Major Factors Driving Growth of the Global Viscose Fiber Market: The global viscose fiber market is driven by the increasing demand for garments, home textiles, and medical textiles, which is fueling revenue growth. Additionally, the growing emphasis on testing techniques and regulations to enhance product quality is expected to drive market growth. Technological advancements in equipment used to create high wet modulus fiber further contribute to market expansion. Moreover, evolving fashion trends and increasing consumer spending are supporting market growth.

Factors Restraining Growth of the Global Viscose Fiber Market: The growth of the global viscose fiber market is hindered by stiff competition from synthetic fibers worldwide. Additionally, high processing costs and the availability of cheaper alternative materials are impacting market growth. Pollution caused during the processing of viscose fiber, such as air and water pollution, is another factor contributing to the market's slowdown.

Opportunities for Players in the Global Viscose Fiber Market: During the forecast period, the global viscose fiber market is expected to benefit from the increasing use of cellulose fiber in healthcare applications. The rising per capita income of people worldwide presents a lucrative opportunity for market players. Stringent import and export regulations can also create profitable opportunities for all players in the market.

Global Viscose Fiber Market Revenue Led by Product Type Segment: The market is segmented based on product types, including ordinary fiber, high wet modulus fiber, strong fiber, modified fiber, and other segments. Among these, the modified fiber segment holds the most dominant share due to its various features, such as strength, elasticity, durability, and flexibility. Moreover, modified fiber's breathability provides comfort during intense physical activities.

Global Viscose Fiber Market Leading End-Use Segment: Based on end-use, the market is segmented into spinning clothing, home textiles, and medical textiles. The medical textiles segment is expected to dominate other segments in terms of revenue generation over the forecast period. Viscose staple fiber is used in medical textiles to create soft and comfortable fabrics against the skin, improving the quality of life for patients. Its thinness and high water absorption also make it a suitable alternative to cotton for reducing bacterial growth in diabetics and people sensitive to certain fibers. Additionally, it exhibits limited heat conductivity.

North America Accounts for the Largest Revenue Share in the Global Viscose Fiber Market: Among regional markets, North America emerged as the largest market for viscose fiber in 2020, with the highest revenue share. The region's thriving textile industry, significant government investments in manufacturing and development activities, and rapid industrialization contribute to its revenue growth. Moreover, the dense population in these locations, driven by increasing industrialization in textiles and apparel, further supports market expansion.

Asia Pacific Continues to Lead in Terms of Revenue CAGR: The Asia Pacific viscose fiber market is expected to exhibit the fastest growth in CAGR over the forecast period. The region's rapid urbanization, significant rise in manufacturing activities, increasing population rate, especially in emerging economies such as India, China, Malaysia, and Indonesia, and rising government investments in the textile sector are major factors driving market growth. The ability to manufacture high-quality items at low costs, attracting more buyers, further fuels market growth.

Major Companies Profiled in the Report: The report features profiles of major companies operating in the market, including Aditya Birla Group, Lenzing, Sanyou, Sateri Chemical Fibre, Xinjiang Zhongtai, Aoyang Technology, Xiangsheng, Shandong Bohi, Yibin Grace Group Company, Zhejiang Fulida, Silver Hawk, Manasi Shunquan, Kelheim-Fibres, Xinxiang Bailu, Nanjing Chemical Fiber, Somet Fiber, Jilin Chemical Fiber. The report outlines their strategies and objectives for growth.

Strategies and Objectives of Major Companies: Various companies in the global viscose fiber market have adopted different strategies and objectives for growth. For example, Asia Pacific Rayon (APR) announced plans to increase its production capacity to 600,000 metric tons in 2021 to capitalize on the growth potential of viscose staple fiber and expand its market position in Indonesia and export markets across the region. Sateri, a global producer of viscose, achieved responsible manufacturing of high-quality viscose for textile and personal hygiene products, as evidenced by the completion of the Higg Facility Environmental Module (FEM) evaluation in 2018. Kelheim Fibers debuted a new viscose fiber for disinfecting wipes and specialized fibers in the same year.

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