DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Spandex Fiber Market by Type of Production Method (Solution Dry Spinning, Solution Wet Spinning and Others) and Application (Apparel & Clothing, Home Furnishing and Others) - Global Opportunity Analysis and Industry Forecast, 2014-2022" report to their offering.
The world spandex fiber market was valued at $5,820 million in 2015 and is expected to grow at a CAGR of 8.8% to reach $10,482 million by 2022 end.
The world demand for spandex fiber has witnessed a noticeable growth over the past few years and the trend is expected to continue over the forecast period, owing to increase in demand in numerous applications and continuous investments in R&D to find new commercial avenues. Rise in demand for comfort in sportswear and intimate wear is anticipated influence the market growth. Spandex fiber has high demand in emerging economies such as China, India, and others. However, the increase in use of substitutes is expected to hamper the market growth.
Key findings of the study:
- 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.
Key market segment:
By Production Method
- Solution Dry Spinning
- Solution Wet Spinning
- Others (Melt Extrusion and Reaction Spinning)
- Apparel & Clothing
- Casual Wear
- Inner Wear
- Medical & Healthcare
- House Furnishing
- Others (Automotive, Sports Accessories, etc.)
Comprehensive competitive analysis and profiles of major market players in the report are:
- Hyosung Corporation
- 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.
- Taekwang Industrial Co. Ltd.
For more information about this report visit http://www.researchandmarkets.com/research/d73qz7/spandex_fiber