Spandex Fiber Market Insights | Key Players: 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.).

According to the new research report "Spandex Fiber Market by Production Process (Solution Dry Spinning, and Solution Wet Spinning), by End-Use (Textile, and Healthcare) & by Region (Asia-Pacific, North America, Europe, and RoW) - Forecast to 2020" Published by MarketsandMarkets™, The spandex fiber market is estimated to reach USD 5.40 Billion by 2020, at a CAGR of 7.2% between 2015 and 2020. Factors such as increasing disposable income in the emerging economies such as China, India, Japan, and others and increasing market for compress bandages are fueling the growth for spandex fiber market.

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Browse 72 market data Tables and 59 Figures spread through 143 Pages and in-depth TOC on "Spandex Fiber Market"

The growth of the textile industry is the key driver of the spandex fiber market. The major applications of spandex in textile industry are sportswear, swimwear, lingerie, apparel, active wear, and other stretchable fibers. The spandex fiber market is fragmented with few prominent players and large number of small scale manufacturers. Out of those prominent players Hyosung Corporation (South Korea) and INVISTA (USA) are the two market leaders.

Hyosung Corporation (South Korea), is a leading player in the spandex fiber market. The company offers wide range of spandex fiber under its brand, Creora. The company also manufacturers carpet yarn and polyester fiber. The company serves a wide range of application area such as sportswear, swimwear, active wear, lingerie, and apparel. Hyosung Corporation adopted strategies such as new product launches and expansions. The company has effectively managed developing new products and acquiring different facilities to expand its product portfolio, globally. The company has launched creora highclo 20de, 30de and 55de under the Spandex brand Creora in 2015. Hyosung Corporation has also expanded its production capacity of spandex plant in China.

INVISTA (USA) dominates the North America fiber market by providing a wide range of spandex fibers. INVISTA is a subsidiary of Koch Industries. INVISTA accounts for one of the world’s largest integrated producers of polymers and fibers, and is also the owner of the LYCRA brand (spandex). Apart from apparel, the company also manufactures fibers for flooring, household, automotive, industrial, and outdoor & travel industries. The company adopted several growth strategies in past few years such as new technology, new product developments, collaborations, and expansions. The wide range of brand & product and active operations of the company make INVISTA bolster.

The other companies involved in the development of spandex fiber include Du Pont (U.S.), Teijin Ltd. (Japan), Asahi Kasei Corporation (Japan), Toray Industries (Japan), Far Eastern New Century Corporation (Taiwan), Acelon Chemical and Fiber Corporation (Taiwan), and others.

Rise in demand for textile products in the emerging economies has fueled the growth of global spandex fiber market

Global Spandex Fiber Market, By Production Process (Solution Dry Spinning and Solution Wet Spinning), By End use industry (Textile and Healthcare), and By Region (Asia-Pacific, North America, Europe, and RoW) - Forecast to 2020

Spandex is a synthetic fiber and is popularly known for its elasticity. It is majorly used in the modern textile industry to manufacture range of garments such as sportswear, intimate wear, gloves, belts, bandages, gaskets, and others. The stretchability of spandex fiber is remarkable because it is composed of two segments, soft segment and hard segment. The soft segments intermingle and the make the fiber soft while the hard segment bond with each other and give fiber a structure.

The spandex fiber market in Asia-Pacific is a potential market due to the increasing demand for textile products in the emerging economies such as China, India, and Japan. This region has transformed into a most attractive investment destination for most of the industries. The increasing sales of textile products and increasing awareness for fitness in the emerging countries are driving the growth of the textile segment, which is the major application area of spandex fiber.

However, the healthcare segment dominates the European spandex fiber market due to presence of number of manufacturers of medical bandages in the region.

Spandex fiber is produced majorly by two processes namely solution dry spinning and solution wet spinning. Of which, the solution dry spinning segment is the most cost efficient process and it dominates the spandex fiber market having accounted for a share of 87.4% in 2014. The fibers manufactured through this process offer better elastic recovery.

The key players operational in the global spandex fiber market are Hyosung Corporation (South Korea), Du Pont (U.S.), Investa (U.S.), Teijin Ltd. (Japan), Asahi Kasei Corporation (Japan), Toray Industries (Japan), Far Eastern New Century Corporation (Taiwan), Acelon Chemical and Fiber Corporation (Taiwan), and others.

In-depth profiling of the key players has been conducted, along with the recent developments, including expansion, new product launches, partnerships, agreements, collaborations, and joint ventures and other strategies adopted by them to sustain and strengthen their position in the global spandex fiber market.

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