Published by Coherent Market Insights
Posted on October 10, 2021
The global spandex market is was accounted for US$ 7,150.4 Mn in terms of value by the end of 2019, witnessing a CAGR of 10.3% during the forecast period (2020 to 2027).
Spandex is a synthetic fabric that has exceptional elastic properties. It is produced by using PTMEG and MDI as the chemical reactants. It is widely used in the creation of bras, skin-tight garments, gloves, gym wear, slacks, and swimwear. Moreover, spandex is also used in the production of orthopedic braces and surgical hoses as it is more durable and stronger.
The research report studies the Spandex Market using different methodologies and analyzers to provide accurate and in-depth information about the market. For a clearer understanding, it is divided into several parts to cover different aspects of the market.
Top Key Players in Spandex market: INVISTA,Asahi Kasei Corporation,Hyosung Corporation,Zhejiang Huafon Spandex Co. Ltd.,Yantai Tayho Advanced Materials Co. Ltd.,Indorama Industries Ltd,TK Chemical Corp.
Regional Analysis:
The market research report on the global Spandex market offers complete analysis across various regions around the globe. The report contains detailed country-level analysis, market revenue, market value and forecast analysis for the following countries and regions: Geographically, the comprehensive analysis of ingestion, revenue and Market share and growth speed, historical and forecast (2021-2027) of these regions are covered.
Market Restraints
The volatile price of raw materials used for the manufacture of spandex is restricting market growth. Diphenylmethane diisocyanate (MDI) and poly tetra-methylene ether glycol (PTMEG) are key raw materials used in the production of the spandex and these products are petroleum-based derived products. Petroleum-based products are highly susceptible to volatility.
Key Takeaways:
On the basis of fabric the four way fabric segment dominated the global spandex market in 2019, accounting for 74.6% share in terms of value, followed by frozen sea food and frozen meat products, respectively
Market Trends
The growing trend of producing dyed spandex yarn as a raw product in order to eliminate the dyed spandex yarn as a raw product is fostering the market growth of spandex. Moreover, dyed and textured spandex yarn is trending among manufacturers of spandex fabric. For instance, in May 2020, THANH PHAT TEXTILE DYEING CO., LTD has introduced a new variant of spandex fabric. The new variant of spandex manufactured by the company is very light in weight and can be stretched widely and are available in many colors will not fade away even after repeated washes.
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com
The post Spandex market Emerging Economies Expected To Influence Growth Until 2029 appeared first on Gatorledger.
The global spandex market is was accounted for US$ 7,150.4 Mn in terms of value by the end of 2019, witnessing a CAGR of 10.3% during the forecast period (2020 to 2027).
Spandex is a synthetic fabric that has exceptional elastic properties. It is produced by using PTMEG and MDI as the chemical reactants. It is widely used in the creation of bras, skin-tight garments, gloves, gym wear, slacks, and swimwear. Moreover, spandex is also used in the production of orthopedic braces and surgical hoses as it is more durable and stronger.
The research report studies the Spandex Market using different methodologies and analyzers to provide accurate and in-depth information about the market. For a clearer understanding, it is divided into several parts to cover different aspects of the market.
Top Key Players in Spandex market: INVISTA,Asahi Kasei Corporation,Hyosung Corporation,Zhejiang Huafon Spandex Co. Ltd.,Yantai Tayho Advanced Materials Co. Ltd.,Indorama Industries Ltd,TK Chemical Corp.
Regional Analysis:
The market research report on the global Spandex market offers complete analysis across various regions around the globe. The report contains detailed country-level analysis, market revenue, market value and forecast analysis for the following countries and regions: Geographically, the comprehensive analysis of ingestion, revenue and Market share and growth speed, historical and forecast (2021-2027) of these regions are covered.
Market Restraints
The volatile price of raw materials used for the manufacture of spandex is restricting market growth. Diphenylmethane diisocyanate (MDI) and poly tetra-methylene ether glycol (PTMEG) are key raw materials used in the production of the spandex and these products are petroleum-based derived products. Petroleum-based products are highly susceptible to volatility.
Key Takeaways:
On the basis of fabric the four way fabric segment dominated the global spandex market in 2019, accounting for 74.6% share in terms of value, followed by frozen sea food and frozen meat products, respectively
Market Trends
The growing trend of producing dyed spandex yarn as a raw product in order to eliminate the dyed spandex yarn as a raw product is fostering the market growth of spandex. Moreover, dyed and textured spandex yarn is trending among manufacturers of spandex fabric. For instance, in May 2020, THANH PHAT TEXTILE DYEING CO., LTD has introduced a new variant of spandex fabric. The new variant of spandex manufactured by the company is very light in weight and can be stretched widely and are available in many colors will not fade away even after repeated washes.
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com
The post Spandex market Emerging Economies Expected To Influence Growth Until 2029 appeared first on Gatorledger.
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