H1 2023: During H1 2023, the prominent producers of Viscose Filament Yarn (VFY) were Yibin Grace Group Co., Ltd., Grasim Industries Limited, and Xinxiang Bailu Chemical Fibre Co.,Ltd. Although, Yibin Grace Group Co., Ltd. held the highest production capacity of Viscose Filament Yarn. In H1 2023, the Asia Pacific region witnessed varied VFY prices. The prices remained sluggish in the first three months of 2023 due to slow purchasing pattern in the area. At the same time, demand for VFY by the downstream textile & apparel industry remained poor. As a result of the delayed offtake, the sector has recently struggled due to low regional output. Additionally, the Index of Industrial Production (IIP) for textiles revealed a steady decline in textile production in the Indian textile industry. Due to a sufficient amount of inventory, the market for viscose filament yarn remained feeble in the first three months of 2023. In the Indian market, prices rose in April 2023 and then continued to dip throughout May – June 2023. The falling costs of raw materials like wood pulp have had a detrimental effect on VFY production costs in India. The demand from the apparel and home furnishings industry was gloomy and downstream industries also appeared hazy. In the first three months of 2023, the demand for viscose filament yarn (VFY) continuously declined in the US. This price drop was due to decreased demand, rise in inflation, and volatile cost of raw materials. Changes in these elements significantly affected the textile industry of the US.
H1 2022: During H1 2022, the key players of Viscose Filament Yarn (VFY) were Yibin Grace Group Co., Ltd., Xinxiang Bailu Chemical Fibre Co.,Ltd., and Grasim Industries Limited. Although, Yibin Grace Group Co., Ltd. held the highest rank in terms of producing Viscose Filament Yarn. Regionally, Asia Pacific held the position of the biggest consumer of Viscose Filament Yarn during H1 2022. Viscose filament yarn prices experienced an upward trajectory in Asia in H1 2022. It was mainly due to heavy demand from downstream textile and apparel sectors of the Asian nations, especially India. In India, prices rose continuously in H1 2022, followed by improved demand from downstream industries. Also, prices trended upwards across the Asia Pacific region as China's dual energy policy restrictions and significant increase in manufacturing costs pushed up raw material prices in the region. Import and export cargo prices surged amid inflationary pressures which made traders to maintain product margin by the hike in prices. However, Viscose filament yarn prices were on the higher side in the European market in the first three months of H1 2022. Downstream garment and textile market demand remained strong in the European nations, resulting in strong market activity.
H2 2022: In Asia Pacific region, the price trend of Viscose Filament Yarn kept on fluctuating during H2 2022. In the starting months of H2 2022, Viscose Filament Yarn prices increased significantly in the first few months of H2 2022. High prices of the product were supported by high freight rates and a large number of orders from the Asian market. It was observed that downstream industries had raised the price of yarn to meet the increase in the production costs of Viscose Filament Yarn. The demand for viscose filament yarns used in high-end fabrics such as satin and velvet was moderate in the Asia’s market. However, VFY prices dipped in Asia in October 2022. There was a decline in the VFY demand by the downstream industries, which was the main reason for the price drop in the Asia Pacific region The demand for VFY was hazed the first half of H2 2022 due to lower consumption of the product in the downstream textile industry. The rise in VFY prices in the second half of H2 2022 was observed in the Asian market due to higher product demand from the textile sector of the region. On the other hand, VFY prices fell in the European market from October 2022. Significantly low demand from the apparel and upholstery industries led to wider regional sales-to-stock ratios in H2 2022 in Europe.
The global Viscose Filament Yarn market has expanded to reach approximately 420 thousand tonnes in 2022 and is expected to grow at a healthy CAGR of 3.39% during the forecast period until 2032. The Viscose Filament Yarn market's primary driver is the flourishing textile industry and growing demand of raw fiber for manufacturing fabric across the globe.
Viscose Filament Yarn, also known as rayon filament yarn, is a natural yarn obtained from wood or cotton pulp globally and commonly produced by a reaction of cellulose with caustic soda. It is widely used to make fabrics for a variety of applications including clothing & home textiles. Its silky & smooth appearance, ability to absorb liquid and different colors availability make it a versatile material to be used for clothing purposes such as for dresses, lingerie, and others. There is a wide range of Viscose Filament Yarn having several weaving and embroidery applications including 120D, 150D, 300D, and 600D deniers. The quality of this Viscose Filament Yarn is similar to natural fiber, but it has superior properties such as highly absorbent, comfortable, soft, and good drapability making it suitable for the weaving & knitwear industry across the globe. The major share of demand for Viscose Filament Yarn comes from emerging nations such as China and India. The global Viscose Filament Yarn market is anticipated to reach 580 thousand tonnes by 2032.
By Region, the Viscose Filament Yarn market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Asia Pacific dominates the Viscose Filament Yarn market followed by Europe and North America as of 2022. The dominance of the region is due to the significant growth of the textile industry across Asian countries generating huge demand for Viscose Filament Yarn across various applications. In 2022, Asia Pacific consumed approximately 52% of the market. Moreover, Asia Pacific also dominates as the producer of the global Viscose Filament Yarn market, with China and India being the key manufacturers in Asia holding more than 60% of the regional capacity.
Based on the end-use, the global Viscose Filament Yarn market is segregated into Textiles and Apparel, Home Textile, and Others. As of 2022, the Textiles and Apparel industry is leading the global Viscose Filament Yarn market with a share of about 40%. Because of its silky appearance and feel, viscose filament yarn can be used to make fabrics for apparel and home furnishings. Also, due to its capacity to breathe and absorb liquid, viscose filament yarn can be utilized to create soft and silky clothing textiles. Additionally, it's utilized to make viscose embroidery thread. In addition to other items, it was used to produce fabric, particularly lingerie and gowns.
Major players in the production of Global Viscose Filament Yarn are Xinxiang Bailu Chemical Fibre Group Co., Ltd., Grasim Industries Limited, Xinxiang Bailu Chemical Fibre Co.,Ltd, Yibin Grace Group Co., Ltd., China Hi Tech Group Corporation, Jilin Chemical Fibre Co.,Ltd., Baroda Rayon, Nanjing Chemical Fiber, Indorama Ventures, Shandong Helon Textile Sci. & Tech. Co., Ltd., and others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Viscose Filament Yarn which covers production, demand and supply of Viscose Filament Yarn market in the globe.
• To analyse and forecast the market size of Viscose Filament Yarn
• To classify and forecast Global Viscose Filament Yarn market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Viscose Filament Yarn market in the globe.
To extract data for Global Viscose Filament Yarn market, primary research surveys were conducted with Viscose Filament Yarn manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Viscose Filament Yarn market over the coming years.
ChemAnalyst calculated Viscose Filament Yarn demand in the globe by analyzing the historical data and demand forecast which was carried out considering the historical supply and demand of Viscose Filament Yarn across the globe. ChemAnalyst sourced these values from industry experts, and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Viscose Filament Yarn manufacturers and other stakeholders
• Organizations, forums and alliances related to Viscose Filament Yarn distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Viscose Filament Yarn manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Viscose Filament Yarn market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
420 thousand tonnes
Market size Volume by 2032
580 thousand tonnes
Growth Rate
CAGR of 3.39% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Foreign Trade, Company Share, Company Share, Manufacturing Process, Policy and Regulatory Landscape,
Segments covered
By End-Use: (Textiles and Apparel, Home Textile, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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What is the expected global market size of Viscose Filament Yarn in terms of volume for 2032?
Ans:
The global market size of Viscose Filament Yarn is expected to grow to reach approximately 600 thousand tonnes by 2032.
Q2.
Which region is dominating the Global Viscose Filament Yarn market?
Ans:
The Asia Pacific region is dominating the Viscose Filament Yarn market with a market share of 52% in 2022.
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