The global demand for Spandex Fiber Market is presumed to reach the market size of nearly USD 17.57 MN by 2028 from USD 10.16 MN in 2021 with a CAGR of 8.13% under the study period of 2022 - 2028. Regarding volume, the market was calculated XX MT in 2021 and forecast to touch XX MT by 2028 with a CAGR of XX% during 2022-2028.
Spandex fiber is known for its exceptional elasticity (stretchability). Spandex fiber is a lightweight, soft, smooth synthetic fiber, resistant to UV rays, bacteria-free and dries faster and has a unique elasticity. Spandex fiber is probably popular because they allow the body to breathe and the muscles to expand and contract during the workout. Moreover, the unique characteristics of this product make it very well suited for a wide range of usages, from the dressy to even sports apparel.
Market Dynamics
The increased awareness among individuals for personal healthcare and demand for spandex fiber for competitive swimming and cycling activities have become the major factors in the growth of spandex fiber. The increasing use of spandex fibre in the production of pressure diapers and bandages also drives the growth of this market. Changes in fashion trends also play an important role in the growing use of spandex fiber in clothing apparel. Women use spandex fiber more as they demand close-fitting material than men, which is also anticipated to boost the market growth of spandex fiber.
The report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of spandex fiber. The growth and trends of Spandex Fiber Industry provide a holistic approach to this study.
Market Segmentation
This section of the spandex fiber market report provides detailed data on the segments by analyzing them at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By End-Use Industry
By Production Process
- Solution Dry Spinning
- Solution Wet Spinning
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Spandex Fiber market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Spandex Fiber Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the spandex fiber market include Hyosung Corporation (South Korea), Du Pont (U.S.), Teijin ltd (Japan), Toray Industries (Japan), Asahi Kasei Corporation (Japan), Far Eastern New Century Corporation (Taiwan), and INVISTA (U.S.). This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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