Jun 9, 2022   SOURCE: BusinessWire

Worldwide Spandex Fiber Industry to 2027 - Featuring Indorama, Invista and Mitsubishi Chemical Among Others - ResearchAndMarkets.com

The "Spandex Fiber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.

The global spandex fiber market reached a value of US$ 7.44 Billion in 2021. Looking forward, the publisher expects the market to reach a value of US$ 10.55 Billion by 2027 exhibiting a CAGR of 5.70% during 2022-2027.

Companies Mentioned

  • Asahi Kasei Corporation
  • BASF SE
  • Huafon Chemical Co. Ltd.
  • Hyosung Corporation
  • Indorama Corporation
  • Invista (Koch Industries Inc.)
  • Mitsubishi Chemical Corporation
  • Taekwang Industrial Co.Ltd
  • Teijin Limited
  • TK Chemical Corporation
  • Toray Industries Inc.
  • Xiamen Lilong Spandex Co. Ltd.
  • Yantai Tayho Advanced Materials Co. Ltd.

Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Spandex fiber, also known as elastane, is a man-made fiber that is lightweight, smooth and possesses unique elasticity. It is abrasion-resistant and demonstrates negligible damage from needle cutting when stitched as compared to other elastic materials. In addition, it offers several advantages, including durability; resistance against body oils, perspiration, lotions, and detergents; and no static and pilling problems. As a result, it is widely used in the manufacturing of athletic, aerobic, exercise apparel, swim and bathing suits, brassiere straps and bra side panels, ski pants, slacks, hosiery, socks, belts, surgical hose, bicycle pants, foundation, and shaped garments.

The growing utilization of spandex fiber in swimming and cycling garments worldwide represent one of the key factors driving the market. Moreover, governments of several countries are focusing on encouraging students to participate in sports. This, along with the rising demand for rapid dry and comfortable fabrics for activewear, is propelling the growth of the market. In addition, there is a rise in the utilization of spandex fiber in the healthcare industry to manufacture pressure diapers, compression stockings, surgical hoses, and bandages across the globe.

This, coupled with the increasing employment of spandex fiber in the automotive industry to make door panel fabrics, is positively influencing the market. Besides this, the escalating demand for textiles around the world is offering lucrative growth opportunities to investors and end-users.

Furthermore, key market players are focusing on the capacity and business expansions, partnerships, and mergers and acquisitions (M&A) to expand their customer base. These players are also extensively investing in research and development (R&D) activities to enhance product quality, which is projected to augment their overall sales and profitability.

Key Questions Answered in This Report:

  • How has the global spandex fiber market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global spandex fiber market?
  • What are the key regional markets?
  • What is the breakup of the market based on the fabric type?
  • What is the breakup of the market based on the production method?
  • What is the breakup of the market based on the application?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global spandex fiber market and who are the key players?
  • What is the degree of competition in the industry?

Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction

4.1 Overview

4.2 Key Industry Trends

5 Global Spandex Fiber Market

5.1 Market Overview

5.2 Market Performance

5.3 Impact of COVID-19

5.4 Market Forecast

6 Market Breakup by Fabric Type

7 Market Breakup by Production Method

8 Market Breakup by Application

9 Market Breakup by Region

10 SWOT Analysis

11 Value Chain Analysis

12 Porters Five Forces Analysis

13 Price Analysis

14 Competitive Landscape

14.1 Market Structure

14.2 Key Players

14.3 Profiles of Key Players

For more information about this report visit https://www.researchandmarkets.com/r/oxrq8e