Rayon Fibers Market Size, Share, Growth Analysis 2023 - 2029

According to Precision Business Insights (PBI), the latest rayon fibers market was valued at USD 18,736.2 million in 2022, growing at 7.6% CAGR during the forecast period 2023 to 2029. The increased demand for fashionable clothes worldwide owing to the increasing population is expected to drive the rayon fiber market. According to the World Bank, the fashion industry is key for economic development is valued at some USD 2.4 billion globally, and directly employs 75 million people throughout its value chain. Moreover, the increased awareness of environment-friendly sanitary napkins among the youth population has provided an opportunity for the increase of the rayon market. According to "periodofchange", a campaign started under "The Kachra project", an average woman throws away about 150kg of mostly non-biodegradable absorbents every year leading to shifting preference to rayon sanitary napkins. Furthermore, rayon fiber being a manufactured fiber and considered to be regenerated cellulose has wide applications in the civil field, industrial field, medical field, and others also burgeon the growth of the market over the forecast years.

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The global rayon fibers market is segmented based on type, application, and geography.

Based on the type, the market is segmented into the following:
• Viscose Rayon
• Modal Rayon
• Cuprammonium Rayon
• Others

Based on the application, the market is segmented into the following:
• Automotive & Transportation
o Tire Cords
o Automotive Hoses
o Brake Lining Hoses
o Others
• Personal Care
o Feminine Hygiene Products
o Wipes
o Diapers
o Others
• Manufacturing
o Industrial Hoses
o Conveyor Belts
o Industrial Fabric
o Others
• Textile
o Domestic Textile
o Industrial Textile
• Healthcare
• Aerospace and Defence
• Others

Based on Geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

Viscose Rayon Are Dominating the Rayon Fibres Market:
Based on type, Viscose rayon is anticipated to show a significant growth rate in the market share over the forecasting period. The viscose fibers have similar characteristics as cotton, providing a good alternative. According to the International Trade Centre, viscose rayon filament imports increased from 90,489 tonnes in 2017 to 101,633 tonnes in 2019. Alkali cellulose, which is created when cellulose reacts with sodium hydroxide to create rayon fibers, is then changed into cellulose xanthate by reacting it with carbon disulfide (CS2). It would then be extruded into an acid bath using spinnerets after being dissolved in mild sodium hydroxide. The smooth and non-insulating fabric viscose rayon is used to make dresses, ribbons, and embellishments. The increased demand for viscose rayon in upholstery fabric and clothing is anticipated to benefit the market.

Asia Pacific Leads Rayon Fibres Market:
Rayon's fiber market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Asia Pacific accounted to have a significant share of the global rayon fibers market and the market is expected to grow at a significant CAGR over the forecast years owing to China and India having well-developed infrastructural development, rising per capita income of the individuals, increasing birth rate, and higher domestic demand along with the availability of low-cost labor. The increased healthcare investments in various regions of Asia Pacific drive the demand for surgical apparel, which further increases the demand for rayon fibers in the market. The fashion industry is one of the largest contributors to the rayon fabric market. China has a share of 17.39%, and Japan has a share of 5.97% in apparel retail markets in the world
Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players

Rayon Fibres market further reveals that the key players increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance,

In July 2020, PolyOne Corporation, a leading global provider of specialized polymer materials, services, and sustainable solutions, acquired the color masterbatch businesses of Clariant and Clariant Chemicals India Ltd.

In April 2019, Sateri acquired Jiangsu Xiangsheng Viscose Fiber Co., Ltd. ("Xiangsheng"). With this acquisition, Sateri operates four viscose mills in China, making it the world's largest viscose producer with a total annual production capacity of 1.1 million metric tons.

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Key player's profiles in the rayon fibers market are Aditya Birla Group (India), Lenzing (Austria), Kelheim (Germany), Sanyou (China), Sateri (China), Fulida (China), Aoyang Technology (China), Yibin Grace Group (China), CHTC Helon (China), Bohi Industry (China), Xiangsheng Group (China) and Silver Hawk (China).

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This release was published on openPR.