Spandex Fiber Market Report,
published by Allied Market Research, forecasts that the global market is
expected to garner $10,482 million by 2022, registering a CAGR of
8.8% during the period 2016-2022. It is anticipated that solution dry spinning
segment would generate the highest revenue throughout the forecast period. In
the year 2015, Asia-Pacific led the global market and is expected to
maintain its position throughout the study period. The region is also expected
to witness highest growth over the forecast period.
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The industry players made significant investments on new commercial avenues for
their product segments via strategic partnerships & collaborations.
Investments towards extensive research and development activities coupled with
an increasing support for application of spandex fiber is expected to boost
market growth. There is a rise in demand for spandex Fiber from various
end-user industries and an increase in application scope owing to its superior
properties. Also, launch of bio-based, eco-friendly spandex products by market
players is expected to drive the demand for spandex fiber over the forecast
period. However, a growing threat of substitution and volatility in raw
material prices could hamper the market growth during the forecast period.
In the year 2015, apparel & clothing segment was the largest application
segment, and is expected to grow at a high CAGR of 8.9% I terms of revenue,
followed by home furnishing and others segment. The extraordinary
physio-chemical properties of spandex fiber, such as elasticity, durability and
abrasion resistance have increased its penetration in a wide array of
application, as it results in improved performance of the end product.
According
to Eswara Prasad, Team Lead Chemical Research at AMR, "Asia-Pacific is
the most attractive market for the new entrants along with industry players, as
the growth in number of industries and increased expenditure towards R&D is
expected to provide significant opportunities to the entrants."
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Key findings of the Spandex Fiber Market:
·
Solution dry spinning production
method is expected to witness highest CAGR of 8.9% during the forecast period.
·
Sportswear and inner wear
sub-segments together accounted for around three-fourths of the market share in
2015.
·
Asia-Pacific is anticipated
to lead the market demand throughout the forecast period, growing at a high
CAGR of 9.5% during the forecast period.
·
In 2015, China led the
world demand in the spandex fiber market.
·
The world spandex fiber market
is moderately consolidated, with top 10 players constituting of approximately
66.8% market share.
·
Hyosung Corporation leads the
world spandex fiber market in 2015, with a market share of around 18.1%.
In
2015, North America and Europe collectively accounted for
more than one-fourth of the worldwide demand for spandex fiber and are expected
to lose share over the forecast period. Asia-Pacific is projected to
be the fastest growing region, with a CAGR of 9.5% in value terms, followed by
LAMEA, North America and Europe.
The report provides comprehensive analysis of the key players that operate in
the world spandex fiber market such as Hyosung Corporation, Invista, Asahi
Kasei Corporation, Toray Industries, Inc., Indorama Industries Ltd., TK
Chemical Corporation, Zhejiang Huafon Spandex Co. Ltd., Xiamen Lilong Spandex
Co., Ltd., Yantai Spandex Co., Ltd. and Taekwang Industrial Co. Ltd. These
players occupy a major share in the world spandex fiber market followed by
other tier 2 and tier 3 players worldwide.
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About Us
Allied Market Research (AMR) is a full-service
market research and business-consulting wing of Allied Analytics LLP based
in Portland, Oregon. Allied Market Research
provides global enterprises as well as medium and small businesses with
unmatched quality of "Market Research Reports" and "Business
Intelligence Solutions." AMR has a targeted view to provide business
insights and consulting to assist its clients to make strategic business
decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various
companies and this helps us in digging out market data that helps us generate
accurate research data tables and confirms utmost accuracy in our market
forecasting. Each and every data presented in the reports published by us is
extracted through primary interviews with top officials from leading companies
of domain concerned. Our secondary data procurement methodology includes deep
online and offline research and discussion with knowledgeable professionals and
analysts in the industry.
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