Industry Outlook and Trend Analysis
The global Spandex Fibre market was worth USD 3.51 billion in 2014 and is expected to reach approximately USD 6.64 billion by 2023, while registering itself at a compound annual growth rate CAGR of 7.33% during the forecast period. Spandex fiber, otherwise called Lycra or elastane, is a long-chain polyurethane-polyurea copolymer that is made out of adaptable large scale glycol sections and unbending di-isocyanate fragments organized in a particular order. The fiber is defined by its remarkable elastic and recovers properties. These qualities involve its wide-scale use over an assorted arrangement of usages in material and garments and healthcare enterprises. Some noticeable areas of use for spandex fibers incorporate home-furnishings, sportswear, casual clothing and undergarments. Healthcare applications uses of spandex fiber incorporate pressure diapers and bandages, compression stockings and hoses, and so forth.
Production Process Outlook and Trend Analysis
Production procedure of spandex involves two procedures; solution wet spinning and solution dry spinning. Solution dry spinning is a cost effective process out of the two and consequently is made use of all the more normally. It likewise represents the bigger share of the overall industry between the two procedures. Solution wet spinning regardless of being costlier is becoming somewhat quicker than the arrangement dry turning on account of the it is used as a part of assembling spandex fiber for healthcare applications.
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End User Outlook and Trend Analysis
The textile fragment represented the biggest share of the overall industry in the spandex fiber market. Expanding discretionary income in the creating nations has prompted increasing requirement for apparels, which thusly is powering the development of textile market. The requirement for spandex fibers is foreseen to develop because of quick development of sportswear market in the current years. This is making significant opportunities for the spandex fiber makers and to tap these opportunities, organizations are expanding their generation limits everywhere throughout the globe.
Regional Outlook and Trend Analysis
The spandex fiber market in Asia-Pacific is anticipated to develop at the most astounding CAGR throughout the forecast period. This is trailed by Europe and North America. India is the biggest developing business sector in the Asia-Pacific locale. Expanding remote speculations and change in the expectations for living standards of individuals in the nation are driving the development of the spandex market in India. In North America, the U.S. represented the biggest share in 2014.
Competitive Insights
The leading players in the market are Hyosung, Asahi Kasei, Far Eastern New Century, Investa, Acelon Chemicals and Fiber and Toray Industries. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
The Spandex Fiber market is segmented as follows-
By Production Process:
Solution Dry Spinning
Solution Wet Spinning
By End User:
Textile
Healthcare
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By Region:
North America
U.S
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia Pacific
Rest of the World
Brazil
South Africa
Saudi Arabia
United Arab Emirates
Others
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
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