Description :
The demand for spandex fiber has witnessed a tremendous growth driven by the growing penetration in the clothing and textile industry , particularly in the sportswear and intimate wear applications . Spandex fiber are superior to rubber having more strength , are lighter , and are more versatile . In fact , spandex fiber can be stretched to almost 500 % of their length . Spandex fibers are compatible with other materials , and can be spun with other types of fibers to produce unique fabrics , which have characteristics of both fibers . They are generally mixed with synthetic and natural fiber such as polyester or cotton for clothing applications and contributes for a minimal percentage of the final fabric . In developed regions such as North America , spandex fiber is mostly used in women clothing , and also accounts for a significant market share in clothing in economies such as the U . S . The world spandex fiber market was valued at $ 5,820 million in 2015 and is expected to grow at a CAGR of 8.8 % to reach $ 10,482 million by 2022 end .
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The world demand for spandex fiber has witnessed a noticeable growth over the past few years and the trend is expected to continue over the forecast period , owing to increase in demand in numerous applications and continuous investments in R & D to find new commercial avenues . Rise in demand for comfort in sportswear and intimate wear is anticipated influence the market growth . Spandex fiber has high demand in emerging economies such as China , India , and others . However , the increase in use of substitutes is expected to hamper the market growth .
The report segments the world spandex fiber market on the basis of application , production method , and geography . On the basis of application , it is divided into apparel & clothing , home furnishing and others . Based on production type , the market is segmented into solution dry spinning , solution wet spinning and others . Solution dry spinning segment is expected to grow at the fastest rate over the forecast period owing to the ease of production and low costs . Geographically , it is analyzed across North America , Europe , Asia- Pacific , and LAMEA . Asia-Pacific is expected to be the largest region , both in terms of value and volume .
Major players in the world spandex fiber market focus on expanding their geographical presence and broaden their product portfolio by means of significant investments , mergers and collaborations in emerging economies . For instance , major companies such as Hyosung Corporation and Invista have made significant investments for the expansion of Spandex fiber capacity in emerging economies such as China , Singapore and Turkey to meet the rapidly growing demand for spandex fibers . Comprehensive competitive analysis and profiles of major market players in the report are :
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