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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

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MA_161769
Pages: 120
Dec 2016 | 3027 Views
 
Author's : Yashwant Sahu & Yash Doshi
Tables: 67
Charts: 28
 

Spandex Fiber Market Overview:

Global spandex fiber market size is estimated to be valued at $5,820 million in 2015. It is projected to grow at a CAGR of 8.8% from 2016 to 2022 and reach $10,482 million by 2022. Spandex fiber, also known as Lycra or elastane, is a long-chain polyurethane-polyurea copolymer that is composed of flexible macro-glycol segments and rigid di-isocyanate segments arranged in a specific order. The fiber is characterized by its exceptional elastic and recover properties. These characteristics entail its wide-scale use across a diverse set of applications in textile & clothing and healthcare industries. Some prominent areas of application for spandex fibers include sportswear, casual clothing, undergarments and home-furnishings. Healthcare applications of spandex fiber include compression stockings & hoses, diapers and bandages, etc.

Breakdown of Primary Respondents

Rising demand and growing application scope of spandex fiber in various end-user industries, collaborations and strategic alliances between market players and high performance properties coupled with rising acceptance of spandex fiber are some of the important factors that are expected to drive the market growth over the forecast period. However, factors such as increasing threat of substitutes and relatively slower economic growth in certain regions of the world coupled with volatile prices are likely to hamper the market growth during the forecast period. Furthermore, a growth in the penetration of Spandex Fiber in industries such as new energies, oil & gas, automotive and aviation will provide significant opportunities to the industry players across the value chain. Besides, significant investments in research & development activities is expected to provide novel opportunities for the market to grow in the near future.

The spandex fiber market report focuses on current market trends and future growth opportunities of spandex fiber, in industries such as textile & clothing, pharmaceuticals and other industries such as automotive, aviation and sports accessories etc. It also emphasizes on the varied production methods such as solution dry spinning, solution wet spinning and other methods such as melt extrusion and reaction spinning for manufacturing of spandex fiber that are commercially available in the market. It also analyzes the current market trends of spandex fiber in different geographies and suggests the future growth opportunities by analyzing government regulations & policies, which can further increase the consumer acceptance in that region. The figures provided in this report are based on the demand or consumption quantity across type of material and end-users, at country level. The market value and volumes are further derived by doing bottom-up approach and considering price trends.

World Spandex Fiber Market Segmentation

Key players in the world spandex fiber industry have adopted different business strategies such as capacity & business expansion, partnerships, mergers, acquisitions, joint venture, sales agreement, and product & application development to withstand in the global competitive market. Market players profiled in this report are spandex fiber manufacturers who either use it internally in some applications or supply it to other end-users in the industry. The data pertaining to market players and their strategic moves are gathered through press releases of respective companies, various blogs available on the website, and primary calls made to the experts in the industry.

Top Investment Pockets

By application, the world spandex fiber market is segmented into apparel & clothing, home furnishing and others. Apparel & clothing segment is further sub-segmented into sportswear, casual wear, inner wear, medical & healthcare and others. Sportswear is expected to be the most attractive application segment for new entrants as well as for major industry players operating in the world spandex fiber industry.

Opportunities in Spandex Fiber Market

Spandex material have unique elasticity combined with excellent durability and abrasion resistance, making it a favorable fiber to be used in comfort and active wear. Increasing disposable income in the emerging economies coupled with significant opportunities in end-user industries and continuous R&D investments are expected to provide significant opportunities for key players operating in the market.

Key trends that drive the market penetration of spandex fabric/fiber are:

  • New application development and product designing
  • Launch of bio-based, eco-friendly spandex offerings
  • Differentiated, application-specific product offerings
  • Business and capacity expansion by existing players and new entrants
  • Increase in collaborations among industry players to meet challenges in the industry
  • Spandex production capacity expansion, especially in China

Europe Review:

Europe accounted for the third largest revenue share in the global spandex fiber market. The major reason for Europe lacking behind North America and Asia-Pacific is due to the absence of spandex fiber manufacturing facilities as the production cost is very high and it is not economical to invest on spandex fiber business considering the low demand from this region.

 Netherlands Spandex Fiber Market 2014-2022 ($Million)

The spandex fiber manufacturers either use in-house materials or buy from raw material suppliers to process them. Major companies that are prevailing in the world spandex fiber market are Hyosung Corporation, Invista, 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. and Taekwang Industrial Co. Ltd.
Other players in the value chain include Xinxiang Bailu Chemical Fibre Group Co. Ltd., Baoding Swan Spandex Co., Ltd., Spandex Corporation Ltd., Jiangsu Shuangliang Spandex Co., Ltd., Highsun Group, and Yantai Tayho Advanced materials Co. Ltd., etc.

Key Market Benefits

  • The study provides spandex fiber market analysis in terms of quantitative, with current trends and future estimations through 2014‐2022 to identify the prevailing market opportunities to capitalize on.
  • Extensive analysis by application and production method predicts the various types of spandex fiber used in different end-user applications.
  • Competitive intelligence highlights the business practices followed by leading players across various regions.
  • An in-depth analysis of current research and clinical developments within world spandex fiber market is provided with key dynamic factors that affect the market behavior.
  • Comprehensive spandex fiber market share analysis across all geographic regions are provided to determine the prevailing opportunities in these geographies.
  • Key market players and their strategies are analyzed to identify the competitive outlook.

Spandex Fiber Market Key Segments

The world spandex fiber market is divided based on application and geography.

By Production Method

  • Solution Dry Spinning
  • Solution Wet Spinning
  • Others (Melt Extrusion and Reaction Spinning)

By Application

  • Apparel & Clothing
    • Sportswear
    • Casual Wear
    • Inner Wear
    • Medical & Healthcare
    • Others
  • Home Furnishing
  • Others (Automotive, Sports Accessories, etc.)

By Geography

  • North America                
    • U.S.            
    • Canada            
    • Mexic        
  • Europe            
    • Germany            
    • UK            
    • Netherlands
    • Rest of Europe    
  • Asia-Pacific                    
    • China            
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA                    
    • Brazil
    • Argentina
    • South Africa
    • Rest of LAMEA
 

Chapter: 1 INTRODUCTION

1.1. Report Description
1.2. Key Benefits For Stakeholders
1.3. Key Market Segments
1.4. Research methodology

Chapter: 2 EXECUTIVE SUMMARY

2.1. Market snapshot
2.2. CXO perspective

Chapter: 3 MARKET OVERVIEW

3.1. Market definition and scope
3.2. Key findings

3.2.1. Top Investment Pockets
3.2.2. Top winning strategy

3.3. Market Share Analysis, 2015
3.4. Value chain analysis
3.5. Porters Five Forces analysis

3.5.1. Bargaining power of the supplier
3.5.2. Bargaining power of the buyer
3.5.3. Threat of substitute
3.5.4. Competitive rivalry
3.5.5. Threat of new entrants

3.6. Market Dynamics

3.6.1. Drivers

3.6.1.1. Rising Demand and growing application scope In End-user Industries
3.6.1.2. Collaborations & strategic alliances
3.6.1.3. High Performance Properties Coupled with Rising Acceptance of Spandex fiber to Fuel Market Growth

3.6.2. Restraints

3.6.2.1. High threat of Substitutes to hinder market growth
3.6.2.2. Relatively slower economic growth In certain regions of the world coupled with volatility in raw material prices

3.6.3. Opportunity

3.6.3.1. Significant Investments in Research & Development Activities
3.6.3.2. Expansion In The emerging regions such as Asia-Pacific to provide new opportunities

3.7. Typical Properties of Spandex Fiber
3.8. Emerging Trends in Spandex Fiber Market

Chapter: 4 SPANDEX FIBER MARKET, BY PRODUCTION METHOD

4.1. Overview

4.1.1. Market Size and Forecast

4.2. solution dry spinning

4.2.1. Key Market Trends
4.2.2. Key Growth Factors and Opportunities
4.2.3. Market Size and Forecast

4.3. solution wet spinning

4.3.1. Key Market Trends
4.3.2. Key Growth Factors and Opportunities
4.3.3. Market Size and Forecast

4.4. Others

4.4.1. Key Market Trends
4.4.2. Key Growth Factors and Opportunities
4.4.3. Market Size and Forecast

Chapter: 5 SPANDEX FIBER MARKET, BY APPLICATION

5.1. Overview

5.1.1. Market Size and Forecast

5.2. apparel & clothing

5.2.1. Key Market Trends
5.2.2. Key Growth Factors and Opportunities
5.2.3. Market Size and Forecast
5.2.4. Sportswear
5.2.5. Casual Wear
5.2.6. Inner Wear
5.2.7. Medical & Health Care
5.2.8. Others

5.3. Home Furnishing

5.3.1. Key Market Trends
5.3.2. Key Growth Factors and Opportunities
5.3.3. Market Size and Forecast

5.4. Others

5.4.1. Key Market Trends
5.4.2. Key Growth Factors and Opportunities
5.4.3. Market Size and Forecast

Chapter: 6 SPANDEX FIBER MARKET, BY GEOGRAPHY

6.1. Overview

6.1.1. Market Size and Forecast

6.2. North America

6.2.1. Key Market Trends
6.2.2. Key Growth Factors and Opportunities
6.2.3. Market Size and Forecast
6.2.4. U.S.
6.2.5. Canada
6.2.6. Mexico

6.3. Europe

6.3.1. Key Market Trends
6.3.2. Key Growth Factors and Opportunities
6.3.3. Market Size and Forecast
6.3.4. UK
6.3.5. Germany
6.3.6. Netherlands
6.3.7. Rest of Europe

6.4. Asia-Pacific

6.4.1. Key Market Trends
6.4.2. Key Growth Factors and Opportunities
6.4.3. Market Size and Forecast
6.4.4. China
6.4.5. Japan
6.4.6. South Korea
6.4.7. Rest of Asia-Pacific

6.5. LAMEA

6.5.1. Key Market Trends
6.5.2. Key Growth Factors and Opportunities
6.5.3. Market Size and Forecast
6.5.4. Brazil
6.5.5. Argentina
6.5.6. South Africa
6.5.7. Rest of LAMEA

Chapter: 7 COMPANY PROFILES

7.1. Asahi Kasei Corporation

7.1.1. Overview
7.1.2. Operating Business Segments
7.1.3. Business performance
7.1.4. Key Strategic Moves and Developments

7.2. Hyosung Corporation

7.2.1. Overview
7.2.2. Operating Business Segments
7.2.3. Business performance
7.2.4. Key Strategic Moves and Developments

7.3. Indorama Industries Limited

7.3.1. Overview
7.3.2. Operating Business Segments
7.3.3. Business performance
7.3.4. Key Strategic Moves and Developments

7.4. INVISTA

7.4.1. Overview
7.4.2. Operating Business Segments
7.4.3. Key Strategic Moves and Developments

7.5. Toray Industries, Inc.

7.5.1. Overview
7.5.2. Operating Business Segments
7.5.3. Business performance

7.6. TK Chemical Corporation

7.6.1. Overview
7.6.2. Operating Business Segments
7.6.3. Business performance
7.6.4. Key Strategic Moves and Developments

7.7. Zhejiang Huafon Spandex Co., Ltd.

7.7.1. Overview
7.7.2. Operating Business Segments
7.7.3. Business performance

7.8. Xiamen Lilong Spandex Co., Ltd.

7.8.1. Overview
7.8.2. Operating Business Segments

7.9. Yantai Spandex Co., Ltd.

7.9.1. Overview
7.9.2. Operating Business Segments

7.10. TAEKWANG INDUSTRIAL CO., LTD.

7.10.1. Overview
7.10.2. Operating Business Segments
7.10.3. Business performance

Other players in the value chain include

  • Xinxiang Bailu Chemical Fibre Group Co. Ltd.
  • Baoding Swan Spandex Co., Ltd.
  • Spandex Corporation Ltd.
  • Jiangsu Shuangliang Spandex Co., Ltd.
  • Highsun Group
  • Yantai Tayho Advanced materials Co. Ltd.

*Profiles of these companies are not included in report, can be added as per client request

List of Figures

FIGURE 1. WORLD SPANDEX FIBER MARKET SIZE, 20142022
FIGURE 2. WORLD SPANDEX FIBER MARKET, REVENUE SHARE, BY PRODUCTION METHOD, 2015 (%)
FIGURE 3. WORLD SPANDEX FIBER MARKET, REVENUE SHARE, BY APPLICATION, 2015 (%)
FIGURE 4. WORLD SPANDEX FIBER MARKET, REVENUE SHARE, BY GEOGRAPHY, 2015 (%)
FIGURE 5. TOP INVESTMENT POCKETS, BY GEOGRAPHY
FIGURE 6. TOP INVESTMENT POCKETS, BY APPLICATION
FIGURE 7. TOP WINNING STRATEGIES, 20102016 (%)
FIGURE 8. WINNING STRATEGIES, BY KEY COMPANY, 20102016
FIGURE 9. MARKET SHARE ANALYSIS, WORLD SPANDEX FIBER MARKET, 2015 (%)
FIGURE 10. WORLD SPANDEX FIBER MARKET, VALUE CHAIN ANALYSIS
FIGURE 11. PORTERS FIVE FORCES ANALYSIS
FIGURE 12. WORLD SPANDEX FIBER MARKET, MAJOR DRIVING FACTORS
FIGURE 13. WORLD SPANDEX FIBER MARKET, RESTRAINTS
FIGURE 14. U.S. SPANDEX FIBER MARKET SIZE (2014-2022)
FIGURE 15. CANADA SPANDEX FIBER MARKET SIZE (2014-2022)
FIGURE 16. MEXICO SPANDEX FIBER MARKET SIZE
FIGURE 17. UK SPANDEX FIBER MARKET SIZE (2014-2022)
FIGURE 18. GERMANY SPANDEX FIBER MARKET SIZE (2014-2022)
FIGURE 19. NETHERLANDS SPANDEX FIBER MARKET SIZE (2014-2022)
FIGURE 20. REST OF EUROPE SPANDEX FIBER MARKET SIZE (2014-2022)
FIGURE 21. CHINA SPANDEX FIBER MARKET SIZE (2014-2022)
FIGURE 22. JAPAN SPANDEX FIBER MARKET SIZE (2014-2022)
FIGURE 23. KOREA SPANDEX FIBER MARKET SIZE (2014-2022)
FIGURE 24. REST OF ASIA-PACIFIC SPANDEX FIBER MARKET SIZE (2014-2022)
FIGURE 25. BRAZIL SPANDEX FIBER MARKET SIZE (2014-2022)
FIGURE 26. ARGENTINA SPANDEX FIBER MARKET (2014-2022)
FIGURE 27. SOUTH AFRICA SPANDEX FIBER MARKET (2014-2022)
FIGURE 28. REST OF LAMEA SPANDEX FIBER MARKET (2014-2022)

List of Tables

TABLE 1. MECHANICAL ATTRIBUTES OF SPANDEX FIBER
TABLE 2. GLOBAL SPANDEX FIBER MARKET VOLUME, BY PRODUCTION METHOD, 2014-2022 (000 TONS)
TABLE 3. GLOBAL SPANDEX FIBER MARKET REVENUE, BY PRODUCTION METHOD, 2014-2022 ($MILLION)
TABLE 4. GLOBAL SPANDEX FIBER IN SOLUTION DRY SPINNING MARKET VOLUME, BY GEOGRAPHY, 2014-2022 (000 TONS)
TABLE 5. GLOBAL SPANDEX FIBER IN SOLUTION DRY SPINNING MARKET REVENUE, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 6. GLOBAL SPANDEX FIBER IN SOLUTION WET SPINNING MARKET VOLUME, BY GEOGRAPHY, 2014-2022 (000 TONS)
TABLE 7. GLOBAL SPANDEX FIBER IN SOLUTION WET SPINNING MARKET REVENUE, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 8. GLOBAL SPANDEX FIBER IN OTHER PRODUCTION PROCESSES MARKET VOLUME, BY GEOGRAPHY, 2014-2022 (000 TONS)
TABLE 9. GLOBAL SPANDEX FIBER IN OTHER PRODUCTION PROCESSES MARKET REVENUE, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 10. GLOBAL SPANDEX FIBER MARKET VOLUME, BY APPLICATION, 2014-2022 (000 TONS)
TABLE 11. GLOBAL SPANDEX FIBER MARKET REVENUE, BY APLLICATION, 2014-2022 ($MILLION)
TABLE 12. GLOBAL SPANDEX FIBER IN APPAREL & CLOTHING MARKET VOLUME, BY GEOGRAPHY, 2014-2022 (000 TONS)
TABLE 13. GLOBAL SPANDEX FIBER IN APPAREL & CLOTHING MARKET REVENUE, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 14. WORLD SPANDEX FIBER MARKET, BY SPORTSWEAR SUB-SEGMENT, 2014-2022 (000 TONS/$MILLION)
TABLE 15. WORLD SPANDEX FIBER MARKET, BY CASUAL WEAR SUB-SEGMENT, 2014-2022 (000 TONS/$MILLION)
TABLE 16. WORLD SPANDEX FIBER MARKET, BY INNER WEAR SUB-SEGMENT, 2014-2022 (000 TONS/$MILLION)
TABLE 17. WORLD SPANDEX FIBER MARKET, BY MEDICAL & HEALTHCARE SUB-SEGMENT, 2014-2022 (000 TONS/$MILLION)
TABLE 18. WORLD SPANDEX FIBER MARKET, BY SPORTSWEAR SUB-SEGMENT, 2014-2022 (000 TONS/$MILLION)
TABLE 19. GLOBAL SPANDEX FIBER IN HOME FURNISHING MARKET VOLUME, BY GEOGRAPHY, 2014-2022 (000 TONS)
TABLE 20. GLOBAL SPANDEX FIBER IN HOME FURNISHING MARKET REVENUE, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 21. GLOBAL SPANDEX FIBER IN OTHERS MARKET VOLUME, BY GEOGRAPHY, 2014-2022 (000 TONS)
TABLE 22. GLOBAL SPANDEX FIBER IN OTHERS MARKET REVENUE, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 23. GLOBAL SPANDEX FIBER MARKET VOLUME, BY GEOGRAPHY, 2014-2022 (000 TONS)
TABLE 24. GLOBAL SPANDEX FIBER MARKET REVENUE, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 25. NORTH AMERICA SPANDEX FIBER MARKET VOLUME, BY PRODUCTION METHOD, 2014-2022 (000 TONS)
TABLE 26. NORTH AMERICA SPANDEX FIBER MARKET REVENUE, BY PRODUCTION METHOD, 2014-2022 ($MILLION)
TABLE 27. NORTH AMERICA SPANDEX FIBER MARKET VOLUME, BY APPLICATION, 2014-2022 (000 TONS)
TABLE 28. NORTH AMERICA SPANDEX FIBER MARKET REVENUE, BY APPLICATION, 2014-2022 ($MILLION)
TABLE 29. NORTH AMERICA SPANDEX FIBER MARKET VOLUME, BY COUNTRY, 2014-2022 (000 TONS)
TABLE 30. NORTH AMERICA SPANDEX FIBER MARKET REVENUE, BY COUNTRY, 2014-2022 ($MILLION)
TABLE 31. EUROPE SPANDEX FIBER MARKET VOLUEM, BY PRODUCTION METHOD, 2014-2022 (000 TONS)
TABLE 32. EUROPE SPANDEX FIBER MARKET REVENUE, BY PRODCTION METHOD, 2014-2022 ($MILLION)
TABLE 33. EUROPE SPANDEX FIBER MARKET VOLUME, BY APPLICATION, 2014-2022 (000 TONS)
TABLE 34. EUROPE SPANDEX FIBER MARKET REVENUE, BY APPLICATION, 2014-2022 ($MILLION)
TABLE 35. EUROPE SPANDEX FIBER MARKET VOLUME, BY COUNTRY, 2014-2022 (000 TONS)
TABLE 36. EUROPE SPANDEX FIBER MARKET REVENUE, BY COUNTRY, 2014-2022 ($MILLION)
TABLE 37. ASIA-PACIFIC SPANDEX FIBER MARKET VOLUME, BY PRODUCTION METHOD, 2014-2022 (000 TONS)
TABLE 38. ASIA-PACIFIC SPANDEX FIBER MARKET REVENUE, BY PRODUCTION METHOD, 2014-2022 ($MILLION)
TABLE 39. ASIA-PACIFIC SPANDEX FIBER MARKET VOLUME, BY APPLICATION, 2014-2022 (000 TONS)
TABLE 40. ASIA-PACIFIC SPANDEX FIBER MARKET REVENUE, BY APPLICATION, 2014-2022 ($MILLION)
TABLE 41. ASIA-PACIFIC SPANDEX FIBER MARKET VOLUME, BY COUNTRY, 2014-2022 (000 TONS)
TABLE 42. ASIA-PACIFIC SPANDEX FIBER REVENUE, BY COUNTRY, 2014-2022 ($MILLION)
TABLE 43. LAMEA SPANDEX FIBER MARKET VOLUME, BY PRODUCTION METHOD, 2014-2022 (000 TONS)
TABLE 44. LAMEA SPANDEX FIBER MARKET REVENUE, BY PRODUCTION METHOD, 2014-2022 ($MILLION)
TABLE 45. LAMEA SPANDEX FIBER MARKET VOLUME, BY APPLICATION, 2014-2022 (000 TONS)
TABLE 46. LAMEA SPANDEX FIBER MARKET REVENUE, BY APPLICATION, 2014-2022 ($MILLION)
TABLE 47. LAMEA SPANDEX FIBER MARKET VOLUME, BY COUNTRY, 2014-2022 (000 TONS)
TABLE 48. LAMEA SPANDEX FIBER MARKET REVENUE, BY COUNTRY, 2014-2022 ($MILLION)
TABLE 49. ASAHI KASEI CORPORATION: COMPANY SNAPSHOT
TABLE 50. BUSINESS SEGMENTS
TABLE 51. HYOSUNG CORPORATION: COMPANY SNAPSHOT
TABLE 52. HYOSUNG CORPORATION: BUSINESS SEGMENTS
TABLE 53. INDORAMA COROPORATION: COMPANY SNAPSHOT
TABLE 54. INDORAMA CORPORATION: BUSINESS SEGMENTS
TABLE 55. INVISTA: COMPANY SNAPSHOT
TABLE 56. INVISTA: BUSINESS SEGMENTS
TABLE 57. TORAY INDUSTRIES INC.: COMPANY SNAPSHOT
TABLE 58. TORAY INDUSTRIES INC.: BUSINESS SEGMENTS
TABLE 59. TK CHEMICAL CORPORATION: COMPANY SNAPSHOT
TABLE 60. TK CHEMICAL CORPORATION: BUSINESS SEGMENTS
TABLE 61. ZHEJIANG HUAFON SPANDEX CO. LTD.: COMPANY SNAPSHOT
TABLE 62. ZHEJIANG HUAFON SPANDEX CO. LTD.: BUSINESS SEGMENTS
TABLE 63. XIAMEN LILONG SPANDEX CO., LTD.: COMPANY SNAPSHOT
TABLE 64. YANTAI SPANDEX CO., LTD.: COMPANY SNAPSHOT
TABLE 65. YANTAI SPANDEX CO., LTD.: BUSINESS SEGMENTS
TABLE 66. TAEKWANG INDUSTRIAL CO. LTD.: COMPANY SNAPSHOT
TABLE 67. TAEKWANG INDUSTRIAL CO. LTD.: BUSINESS SEGMENTS

 

Spandex is a lightweight, synthetic fiber that is used to make stretchable clothing such as sportswear. Compared to a number of other synthetic fibers, spandex fiber exhibit unique physical properties such as low weight, durability, resistance to body oils and perspiration, excellent elasticity, abrasion resistance, and toughness, owing to which it has found widespread acceptance in the textile industry. Automotive industry have adopted spandex fiber for use in the manufacture of door panel fabrics that stretch and adhere to the door. In the last few years, private and government investments have escalated the R&D of synthetic fibers in the scientific and engineering communities. 

Spandex fiber has a wide array of applications in the textile & clothing and pharmaceuticals industry. This wide range of applications leads to a large number of buyers, who usually purchase the spandex fiber in large quantities, to manufacture a number of end-products, which makes the buyer power low in the industry. In addition, the presence of large number of players with their own supply for raw materials and undifferentiated products across the industry result in low bargaining power of suppliers. Besides this, the spandex fiber industry is in the growth stage. The demand for spandex fiber, in various applications and end-user industries, is growing at a rapid pace, which has encouraged the existing industry players to expand their capacity to meet this growing demand. This has resulted in an increase in the competition among the industry players to gain the market share.

Emerging economies such as China, India, Brazil, South Africa and others have seen an increase in their disposable income, resulting in the rise in demand for comfort wear. Factors such as demand for spandex fiber in various end-user industries, growing penetration of spandex fiber in various application industries, investments in R&D activities, collaboration & strategic alliances among industry players and new application development and product designing are expected to drive the market growth. As the penetration of spandex fiber inflates at an exponential rate, it creates more opportunities for industry players to position themselves to meet this growth.

 

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