Spandex Fiber Market Worth 5.40 Billion USD by 2020
January 21, 2016 | By PRN NewsWire
PUNE, India, January 21, 2016 /PRNewswire/ —
The report “Spandex Fiber Market by Production Process (Solution Dry Spinning, and Solution Wet Spinning), by End-Use (Textile, and Healthcare) & by Region (Asia-Pacific, North America, Europe, and RoW) – Forecast to 2020”, published by MarketsandMarkets, The Market is estimated to reach USD 5.40 Billion by 2020, at a CAGR of 7.2% between 2015 and 2020.
Browse 72 market data Tables and 59 Figures spread through 143 Pages and in-depth TOC on “Spandex Fiber Market”
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Factors such as increasing disposable income in the emerging economies such as China, India, Japan, and others and increasing market for compress bandages are fueling the growth for spandex fiber market.
Solution dry spinning segment to dominate the global spandex market:
Manufacturing process of spandex entails two processes, solution dry spinning and solution wet spinning. Solution dry spinning is the most cost effective process out of the two and hence is used more commonly. It also accounts for the larger market share between the two processes. Solution wet spinning in spite of being costlier is growing slightly faster than the solution dry spinning because of the it is used in manufacturing spandex fiber for healthcare applications.
Textile segment of the global spandex market to witness highest growth
The textile segment accounted for the largest market share in the Spandex Fiber Market. Increasing disposable income in the developing countries has led to increase in demand for apparels, which in turn is fueling the growth of textile market. The demand for spandex fibers is expected to grow due to rapid growth of sportswear market in the recent years. This is creating enormous opportunities for the spandex fiber manufacturers and to tap these opportunities, companies are increasing their production capacities all over the globe.
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Asia-Pacific to hold largest market share in the global spandex market
The spandex fiber market in Asia-Pacific is expected to grow at the highest CAGR between 2015 and 2020. This is followed by North America and Europe. India is the largest-growing market in the Asia-Pacific region. Increasing foreign investments and improvement in the living standards of people in the country are driving the growth of the spandex market in India. In North America, the U.S. accounted for the largest share in 2014.
Major players operating in this market are Hyosung Corporation (South Korea), Du Pont (U.S.), Investa (U.S.), Teijin Ltd. (Japan), Asahi Kasei Corporation (Japan), Toray Industries (Japan), Far Eastern New Century Corporation (Taiwan), Acelon Chemical and Fiber Corporation (Taiwan), and others.
This research report categorizes the global spandex fiber market based on production process, end use industry, and region. This report describes the drivers, restraints, opportunities, and challenges with respect to the spandex fiber market. The Porter’s five forces analysis has been included in the report with a description of each of its forces and their respective impact on the spandex fiber market.
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