Quarterly Update on Global Viscose Filament Yarn (VFY) Market
For the Quarter Ending December 2020
With an appreciable rebound in the textile sector in November, a sharp pickup due to festive demand across several Asian economies bolstered the market sentiments across various textiles units including Viscose Filament Yarn (VFY). Price of VFY (Bright 40D) was averaged at USD 4908 per MT in India, showcasing a significant revival in comparison to the previous quarter. Since several domestic manufacturers reported that the Indian market remained flooded with heavy VFY imports from neighboring countries like China, Indonesia and Vietnam, the country’s commerce ministry announced initiation of anti-dumping probe to check on the imports from these countries in the final week of December. Although the proposed dumping duty is likely to extend the profit margins of domestic manufacturers, but it might also squeeze the intakes for garners and weavers as the prices of domestically produced viscose yarn are already very high. In addition, anti-China movement in U.S. has embraced a shift in the outsourcing of textiles from China to India.
Supply of Viscose Filament Yarn (VFY) from overseas considerably increased with respect to the previous quarters owing to a considerable rebound in the retail sale of textiles. Increased demand for home textile products following the shift to work from home has caused a prominent increment in consumption for various textile products. Suppliers were heard catering imports from more than two Asian countries to restrain from the risk of any shortage amidst the pandemic uncertainties. In December end, the US government along with several private officials signed an MoU to assist Asia Pacific garment workers severely hit by Covid-19 hardships.
Recovery in the European Viscose Filament Yarn (VFY) market was severely hit towards the end of Q4 by the sudden buzz of new trace of coronavirus in UK. Partial lockdown implied in several parts of Europe majorly UK has caused a force measure in various garments stores causing the slowdown in the sales of garments in the later half of the quarter. Furthermore, the Brexit agreement signed between European Union and UK has also concerned several suppliers over their export margins in the coming years. Traders anticipate that this deal aiming to push UK as an independent trade identity could bottleneck the investment opportunities and supply chain in the near-term.
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ChemAnalyst gathers information through primary research surveys conducted with various Viscose Filament Yarns manufacturers, spread across the domestic and international market, suppliers and dealers/distributors to gain insights into value-chains and demand-supply scenario to assess the market situation. Thorough study of company’s annual reports and secondary sources such as exhaustive search on credible paid databases, including our internal database is done to verify the information. All the collected information is analyzed, evaluated and presented in chronological order to depict a meaningful and clear picture of the concerned market.
Our dedicated team of industry experts comprehensively monitors and analyzes various aspects of the Global Viscose Filament Yarns market. The team analyzes various industrial segments, strategic viewpoints and provides an analysis of the industry’s performance in the long run. This would enable our clients in efficiently plan their future investments, mitigate risk, understand the cost dynamics and strike out a balance amidst market volatility.
Critical examination of the impact of COVID-19 pandemic on the global supply chains and shift in demand patterns with change in buying behavior of consumers across the globe.
Several ongoing development projects across industries are tracked, followed by the details of major projects in the development stage, which can positively or negatively influence Global Viscose Filament Yarns market.
Pricing is captured through exhaustive primary interviews with domestic and international manufacturers, traders and importers and customers on monthly and yearly basis.
Finally, region-specific markets for Viscose Filament Yarns are analyzed and region-wise demand pattern is tracked.
Viscose is mainly produced from cellulose-dissolving pulp such as cotton, wood, bamboo and others. Viscose exists in two forms namely Viscose Staple Fiber (VSF) and Viscose Filament Yarn (VFY). VFY, also called rayon filament yarn or rayon yarn is a spun thread which can be directly weaved into textiles. The product is highly popular for manufacturing fibers like crepes, georgette and chiffon owing to its extraordinary properties like luster, fluidity and superior drape. Manufacturing process of VFY comprises various steps such as pressing and steeping, aging, dissolving, wet spinning, weaving and others. VFY can be produced in a range of 40D to 1500D (Denier), depending upon the desired finish. Since most of the synthetic fibers are usually petroleum based, thus severely polluting to the environment, various industries are thinking of shifting to biodegradable and environment friendly alternatives like VFY.