The global linen viscose market is expected to grow at a CAGR of 4.4% during the forecast period, 2023–2031.
Linen refers to the natural fibers made by the bark of the flax plant. It has similar qualities to natural fabrics, such as silk and cotton, and is mostly used in its natural form. This fiber is known for its durability, smoothness, high comfort value, and strength, along with its very lustrous and breathable characteristics as compared to cotton. It also comes with a drawback of high premium range and easy crushability due to which it is sometimes used in combination with other fabrics, such as viscose.
Viscose, on the other hand, is a semi-synthetic fiber that is made from wood pulp by dissolving cellulose in a suitable solvent system. It very much resembles silk and has properties similar to cotton. It is known for greater elasticity than cotton and linen and is a good conductor of heat, making it an ideal choice for summer clothing. However, due to some significant downsides, such as easy fading, wrinkling, and shrinking, it is mostly blended with other fabrics to gain stronger qualities.
Linen and viscose, when blended, form a fabric that is soft, durable, comfortable, and appropriate for summers, which are expected to increase its demand. Apart from the summer clothing, this blend also has various applications in industrial uses, home textiles, and many others. Therefore, this market is anticipated to grow at a fast rate during the forecast period. However, the easy availability of substitutes may restrict the growth of this market.
The changing trend in the fashion industry is a prime factor responsible for the growth of the linen viscose market. The increase in demand in the clothing sector due to changes in preferences of the consumers has created the demand for linen and viscose for their properties, such as durability, high comfort level, smoothness, elasticity, lightweight, and a good conductor of heat. Additionally, in emerging nations, rapid urbanization and an increasing youth population that is inclined towards ongoing fashion trends, especially in developing regions, boost the market growth.
As per the India Brand Equity Foundation (IBEF), the rise in disposable income level of the population and increasing penetration in the organized retail market is expected to drive the demand for the textile industry, which will further increase the demand for trending fashion apparels and fabrics.
The fashion and textile industries are booming at a large scale, which is further increasing the demand for various kinds of fabrics, materials, blends, and chemical processes, having a negative impact on the environment. As per the report launched by the United Nations Economic Commission for Europe (UNECE), the textile industry alone is producing 1.2 billion tons of CO2 every year and is the second most polluting industry after petrochemicals, which clearly shows how it is alarming and impacting the environment.
Additionally, according to the statistics provided by the United Nations Environment Program (UNEP) and the Ellen MacArthur Foundation, every year, around 93 billion cubic meters of water is used by the fashion industry, which meets the consumption needs of around five million people. Apart from this, around 20% of wastewater across the globe comes from fabric dyeing and treatment, which is a rising environmental concern.
The apparel segment holds the largest market share, owing to the increasing demand for apparels due to changing fashion trends. Because of such dynamic trends, the global trade in the textiles and apparel sector has been able to consistently grow in recent times. According to the National Investment Promotion and Facilitation Agency (INVEST INDIA), the world's textile and apparel trade stood at USD 823 billion in 2018, growing with a CAGR of 4%. Also, the current market size of the global apparel market is estimated at USD 1.9 trillion, which is expected to reach USD 2.6 trillion, with a CAGR of 5%. The below figure shows the top five global apparel market sizes.
Bangladesh and China to Be the Frontrunners in Asia-Pacific's Market Growth
Asia-Pacific holds the largest share in the linen viscose market as it is backed by the presence of emerging countries, such as India and China, and the growing textile industry. As per the Direct China Chamber of Commerce, China's textile and garment industry will produce more than 40% of the global textile and apparel exports. Another factor that has propelled the growth of the linen viscose market in this region is the rising disposable income of the population and a surge in demand for apparel and home furnishing products. As per the UN Comtrade 2019, global apparel exports are USD 481.7 billion in 2018, out of which China's exports were the largest at USD 145 billion, followed by Bangladesh with USD 36.9 billion.
As per the International Journal of Technology Enhancements, and Emerging Engineering Research, the ready-made garments (RMG) industry holds an upper position in the Bangladesh economy as it is the largest exporting industry in the country. It has also attained a high profile in terms of foreign exports, earnings, industrialization, and contribution to GDP by taking advantage of the insulated market, which comes under the provision of the Multi Fibre Agreement (MFA) of GATT. The below figure shows the global RMG exporters.
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