Global rayon fibers market to continue growing

LOW prices and high comfort features are propelling the global rayon fibers market, which is expected to post a CAGR exceeding 10% from 2015 through 2019, when it is expected to reach $16.3 billion. 

 

A new report from Technavio titled "Global Rayon Fibers market 2015-2019" forecasts increased demand for rayon fibers during this period, particularly in the Asia-Pacific region.

 

Rayon fiber, the oldest man-made fiber composed of regenerated and purified cellulose obtained from plant sources such as wood pulp or cotton, is widely used for various applications in the textile, apparel, and medical industries. It is also used as a replacement for silk, cotton, and woolen products, especially in hot and humid regions.

 

Rising demand from the textile industry is one major trend in the market. This is fueled by greater spending on clothing and apparel as a result of an increase in the disposable income of consumers. 

 

In terms of market challenges, one of the major issues being faced by the industry is the volatility in the price of wood pulp. The instability in the cost of raw materials such as cellulose of wood pulp and cotton, could affect production, demand, and supply of rayon fibers. 

 

The key vendors in the market, according to the report, are Grasim Industries, Kalheim Fibres, and Lenzing AG. Other prominent vendors include Celanese, Century Rayon, Daicel, Eastman Chemical, Formosa Chemical & Fibres, Glanzstoff, Mitsubishi Rayon, PT Indo Bharat Rayon, Thai Rayon, and Toray Industries.