Global Spandex Market is Expected to Increase from US$ 4,834.8 Mn in 2015 to US$ 8,704.6 Mn by 2021, Report by Persistence Market Research (PMR)

Steadily increasing population, coupled with an increase in disposable incomes, especially in developing regions and growing preference for and subsequent adoption of spandex-based stretch clothing in these regions are expected to drive growth of the global spandex market during the forecast period.


New York, Feb. 05, 2016 (GLOBE NEWSWIRE) -- According to a new market report published by Persistence Market Research titled, “Global Market Study on Spandex Market: High demand for stretchable fabrics in clothing sector to drive growth”, the global spandex market has been estimated to reach US$ 4,834.8 Mn in 2015, and is expected to expand at a CAGR of 10.3% over 2015-2021, to reach US$ 8,704.6 Mn by 2021. 

According to the U.S Federal Trade Commission (FTC), “Spandex is a manufactured fiber in which the fiber-forming substance is a long-chain synthetic polymer comprising at least 85% of segmented polyurethane.” This fiber, also called elastane, is a synthetic long-chain polyurethane-polyurea copolymer composed of rigid diisocyanate segments and flexible macro-glycol segments arranged in a specific order. The fiber is characterized by exceptional stretch and recovery properties, with the elongation at break of around 400% to 600%. These characteristics entail its wide-scale use in a diverse set of applications in textile & clothing and healthcare industries. Some prominent areas of application for spandex fibers include sportswear, casual clothing, home furnishings, and undergarments. Medical and healthcare-related applications of spandex fibers include diapers, compression stockings & hoses, and bandages. 

In the recent past, there has been a steady increase in demand for spandex-based stretchable clothing & apparel in developing regions. Steadily rising population, coupled with increasing disposable income, in these regions is expected to drive the growth of the global spandex market over the forecast period. Besides, increasing demand from healthcare-related applications is another major factor driving the growth of the global spandex market during the forecast period. On the contrary, relatively slower economic growth in some major clothing & apparel-importing countries is expected to act as a deterrent to the growth of the global spandex market over the forecast period. Revenue from the global spandex market is expected to increase from US$ 4,834.8 Mn in 2015 to US$ 8,704.6 Mn by 2021, expanding at a CAGR of 10.3% over the forecast period.   

Get Sample Report: http://www.persistencemarketresearch.com/samples/4358 

In terms of market value, Asia-Pacific is expected to dominate the global spandex market during the forecast period, whereas the Middle East & Africa, Latin America, Europe, and North America are expected to account for a relatively smaller share in the global spandex market value during the forecast period. Asia Pacific is expected to register a CAGR of 11.0% in terms of market value over the forecast period.  

On the basis of application, the medical segment is slated to expand at a relatively faster CAGR during the forecast period. Growth in this segment is primarily driven by increasing demand for medial textiles & apparel and rising demand for diapers from certain regions. In terms of market value, a medical segment is expected to expand at a CAGR of 10.8% over the forecast period. In terms of overall market value, clothing segment is expected to dominate the global spandex market throughout the forecast period. 

Browse Full Report with TOChttp://www.persistencemarketresearch.com/market-research/spandex-market.asp 

Hyosung Corporation, INVISTA, Asahi Kasei Corporation, and Zhejiang Huafon Spandex Co. Ltd are leading players in the global Spandex market.  Other players in the market include YantaiTayho Advanced Materials Co., Ltd, TK Chemical Corp., Taekwang Industrial Co. Ltd., Jiangsu Shaungliang Spandex Co., Ltd, Xiamen Lilong Spandex Co., Ltd, and Indorama Industries Limited.  

The global Spandex market is segmented as follows: 

By Application:

  • Clothing
    • Sportswear
    • Home furnishing
    • Underwear
    • Other clothing (denims, casual clothing, etc.)
  • Medical Applications
    • Diapers
    • Compression stockings & surgical hoses
    • Other medical applications (bandages, etc.) 

By Fabric Type:

  • Two-Way
  • Four-Way 

By Process

  • Knitting
  • Weaving
  • Yarn covering 

By Region

  • North America
  • Europe
  • APAC
  • The Middle East & Africa
  • Latin America 

For More Info, Please email us: sales@persistencemarketresearch.com 

About Us:  

Persistence Market Research (PMR) is an innovative provider of market research reports and consulting services. The three PMR pillars of strength that have helped us win clients for years are: Quality Research, Quick Research, and In-depth Research.


            

Contact Data