Global Spandex Fiber Market Overview:
Spandex, Lycra or Elastane is a Synthetic Fiber Known for its Superior Elasticity. It Comprises of a Long-Chain Polyglycol Combined with a Short Diisocyanate, & Contains at Least 85% Polyurethane. It can be Stretched to a Certain Degree & Recoils when Released. The Main usage for Spandex Fibers is in Fabric. It is Lightweight, Soft, & Smooth. It is also Resilient since it is Resistant to Abrasion & the Deleterious Effects of Body Oils, Perspiration, & Detergents. It can be Combined with Other Materials, & Can Be Spun with Other Types of Fibers to Produce Unique Fabrics, which have Characteristics of Both Fibers
Growth Drivers
- Growth in the Textile Industry Requiring Spandex Fibers for Producing Apparels like Leggings, Shorts, Skinny Jeans, Slacks, Yoga Pants, & Undergarments, Owing to the Need for Greater Comfort & Elasticity
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- Rising Adoption of Spandex Fiber in Medical Industry for Manufacturing Products like Bandages, Surgical Hoses & Attires, owing to its Characteristics Like Light Weight, Efficient Compression, Reduced Skin Irritation, High Air Permeability & Easy Bodily Movement
Roadblocks
- Market Presence of Other Synthetic Fibers like Nylon & Polyester
Opportunities
- There is an Increased Opportunity for the Usage of Spandex Fiber in the Automotive Industry as an Automotive Textile with Superior Characteristics such as Greater Elasticity, Good Resistance to Perspiration, & High Durability & Strength
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- There are Prospects for the Market Expansion, due to the Demand for Spandex Fiber in Plastics & Polymer Industry
Challenges
- The Waste Generated from Products Manufactured from Spandex Fiber & the Lack of Sufficient Facilities for Recycling Spandex Fibers
Competitive Landscape:
The Market for the Spandex Fiber is Fragmented with the Presence of Many Regional Players. Owing to the Booming Textile Industry, there are Growing Prospects for the New Players to Enter the Market
Some of the key players profiled in the report are Invista (United States), Maker's Row (United States), Dun & Bradstreet (United States), Mansfield Textiles, Inc. (United States), Hyosung Corporation (South Korea), TK Chemical Corporation (South Korea), Asahi Kasei Corporation (Japan), Toray Industries (Japan) and Indorama Industries Limited (India). Additionally, following companies can also be profiled that are part of our coverage like Zhejiang Huafon Spandex Co. Ltd (China), Indorama Corporation (Indonesia), Varindra Industries (India), Tulsi International (India), Anand Super Fabrics Private Limited (India), Ansh Fabrics (India) and Balavigna Mills Pvt Ltd (India). Analyst at AMA Research see United States & Asian Vendors to retain maximum share of Global Spandex Fiber market by 2026. Considering Market by Products, the sub-segment i.e. Apparels & Clothing {Leggings, Swimsuits, Shorts, Jeans, Yoga Pants, Undergarments, & Others} will boost the Spandex Fiber market. Considering Market by Sales Channel, the sub-segment i.e. Direct Sales will boost the Spandex Fiber market. Considering Market by Production Process, the sub-segment i.e. Wet Spinning will boost the Spandex Fiber market. Considering Market by Production Method, the sub-segment i.e. Solution Dry Spinning will boost the Spandex Fiber market.
Latest Market Insights:
In September 2019, The Lycra Company Announced that it is Amplifying its Planet Agenda Sustainability Platform with the Launch of Lycra® Ecomade Fiber, its First Branded Spandex Made with Pre-Consumer Content. The Company also Announced Plans to Convert the Majority Of Coolmax® And Thermolite® Fiber Products to Include Recycled Content By The End Of 2021 and In June 2019, Hyosung, one of the World’s Largest Spandex Manufacturer, Launched New High-Performance Creora® Actifit Spandex, which Provides Long-Lasting Durability, UV & Chlorine Resistance, & Superior Recovery Required Of Cycling, Swimming, Triathlon & Adventure Racing Apparels
In January 2019, Invista Completed the Previously Announced Sale of its Apparel & Advanced Textiles Business to an Affiliate of Shandong Ruyi Investment Holding
What Can be Explored with the Spandex Fiber Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Spandex Fiber Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Spandex Fiber
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Spandex Fiber market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Spandex Fiber market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Manufacturers of Spandex Fiber, Distributors, Traders, & Suppliers, Importers & Exporters, Investors, Regulatory & Government Bodies and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.