Spandex Fiber Market Report

Market Insights

Spandex Fiber market is likely to witness an impressive CAGR of 7.1% during the forecast period. The key driver that is contributing to the demand for spandex fiber is mainly its unmatched physical and chemical qualities, which make it the most favorable choice for fabric manufacturers.   

Segments' Analysis

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Spandex Fiber Market Share: By Production Process Type

Based on the production process type, the market is segmented as solution dry spinning and solution wet spinning. The solution dry spinning segment held the larger share of the market in 2020, and is expected to remain dominant during the forecast period. Solution dry spinning is the more cost-effective process, the fibers manufactured through this process offer better elastic recovery, which is driving the growth of this segment.

Spandex Fiber Market Share: By End-Use Industry Type

Based on the end-use industry type, the spandex fiber market is segmented as textile, medical & healthcare, and others. The textile industry segment dominates the market, as expanding discretionary income in the developing nations has prompted the increasing requirements for apparel. Further, demand for applications such as sport wear, active wear, intimate wear, and others is likely to propel the growth during the forecast period.

Spandex Fiber Market Share: By Region

In terms of regions, Asia-Pacific is estimated to be the largest as well as the fastest-growing market for spandex fiber during the forecast period, with China, Japan, and India, being the major countries with lucrative growth opportunities. The growth of the market is driven by the growth of various end-use industries, such as textile, medical & healthcare, and others, which is generating huge demand for spandex fiber along with the presence of a large number of spandex fiber manufacturers in the Asia-Pacific region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

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Market Scope & Segmentation

Spandex Fiber is made up of synthetic polymer called polyurethane which has extraordinary stretch ability. By reacting polyester with diisocyanate which contains at least 85% polyurethane, the long chain of polymer is produced. First invented at DuPont's laboratory in 1959, in Virginia, spandex is strong and durable. It transformed the garment industry after its arrival.

Spandex Fiber has different production processes, such as solution dry spinning and solution wet spinning, that are used in various end-use industries, such as textile, medical & healthcare, and others.

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The spandex fiber market is segmented into the following categories. 

Spandex Fiber Market Size, Share, & Forecast, by Production Process Type:

• Solution Dry Spinning (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Solution Wet Spinning (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Spandex Fiber Market Size, Share, & Forecast, by End-Use Industry Type:

• Textile (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Medical & Healthcare (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others
  • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (End-Use Industry Type Analysis: Sport Accessories, Industrial, and Household Products)

Spandex Fiber Market Size, Share, & Forecast, by Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Key Players

Some of the major spandex fiber manufacturers are-

• Hyosung Corporation
• DuPont
• Teijin ltd
• Toray Industries
• Asahi Kasei Corporation
• INVISTA
• Far Eastern New Century Corporation
• Zhejiang Huafon Spandex Co. Ltd.
• ZheJiang Huahai Machinery Group
• Highsun Group

Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the production process type by end-use industry type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].