“The spandex fiber market is expected to grow at a CAGR of 7.2% between 2015 and 2020. Factors such as increasing awareness and increasing disposable income are propelling the growth of the spandex fiber smarket.
Textile is expected to grow at the highest CAGR
In the spandex fiber market, the textile industry is estimated to grow at a significant pace during the forecast period. In the textile industry, spandex fiber is used across application areas such as sportswear, swimwear, apparel, lingerie, active wear, and other stretchable fiber. Increasing awareness for the stretchable fiber is one of the reason for growing demand of spandex fiber in the textile industry.
APAC is the fastest-growing region in the spandex fiber market
The market in APAC is expected to grow at the highest CAGR between 2015 and 2020. The growth is attributed to increasing industrialization in this region. The increasing production facilities by market players in APAC is the main factor responsible for the increasing spandex fiber market in the region. Further, the presence of local players such as Teijin Ltd (Japan), Toray Industries (Japan), and Asahi Kasei (Japan) are also contributing towards the growth of the spandex market.
Several primary interviews with market experts have been conducted across four major regions, namely, the North America, Europe, Asia-Pacific, and Rest of the World (Brazil and Turkey). The primary participants considered for the study are C level executives, managers, and D level executives of the tier 1, tier 2, and tier 3 companies.
â¢ By Company Type – Tier 1 â 47%, Tier 2 â 34% and Tier 3 â 19%
â¢ By Designation â C level â 45%, Director level â 30%, Others â 25%
â¢ By Region â APAC â 55%, North America – 25%, Europe â 13%, RoW â 7%
The key players operating in this market include Hyosung Corporation (South Korea), Du Pont (U.S.), Teijin ltd (Japan), Toray Industries (Japan), Asahi Kasei Corporation (Japan), Far Eastern New Century Corporation (Taiwan), and INVISTA (U.S.).
âReasons to buy the reportâ:
â¢ This report includes the market statistics pertaining to end-use industry, production process, and geography along with their respective volumes.
â¢ The Porterâs five forces framework has been utilized along with the value chain analysis to provide an in-depth insight into the spandex fiber market.
â¢ Major drivers, restraints, and opportunities for the spandex fiber market have been detailed in this report.
â¢ Illustrative segmentation, analysis, and forecast for the markets based on end-use industry, production process, and geography has been conducted to give an overall view of the spandex fiber market.
â¢ A detailed competitive landscape includes key players, in-depth analysis, and revenue of key players.
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