The Spandex Fiber industry was 5565.9 million USD in 2017 and is projected to reach USD 1,367.09 million USD by 2022.
Currently, there are many producing companies in the world. The main market players are Hyosung Corporation, Zhejiang Huafon Spandex Co. Ltd., Invista, ZheJiang Huahai Machinery Group, Highsun Group and so on. The production value of Spandex Fiber is about 5163.2 Million USD in 2016.
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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.
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