According to the latest study titled ‘Global Spandex Market (Value, Volume): Analysis By Production Process (Dry Spinning, Wet Spinning), By Application (Textile, Medical Care, Others), By Region, By Country (2018 Edition): Opportunities and Forecast (2013-2023)’ available with Market Study Report, the global spandex market is estimated to grow with a CAGR of 9.56% through the year 2023.  
 

Spandex is a light weight, stretchable synthetic fabric. It is made up of long chain polymer and is converted into fiber using several techniques. The property of spandex is a result of its chemical composition. The fiber is also characterized by recover properties with comparatively higher elongation at break values. All these properties entail wide-scale use of spandex across diverse applications, hence propelling the spandex market growth.
 

The study examines the market for revenue shares of each segment and expansion strategies adopted by manufacturers. It analyses the competitive landscape of spandex market using SWOT analysis and Porter’s Five Force analysis methods. Information about the market dynamics influencing the market growth are also given in the report. It also provides strategic recommendations that can be incorporated by competitors to expand their business footprint.
 

Based on production process, the spandex market is bifurcated into wet spinning and dry spinning. While speaking of application spectrum, the industry is split into medical care, textile, and others. The spandex market from textile application segment witness substantial growth over the recent past, pertaining to rising demand for compression garments and athleisure wears, cites the report.
 

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Considering the geographical landscape, the global spandex market is fragmented into regions including Europe, North America, APAC, and rest of the world, with a key focus on countries like U.S., U.K, Canada, France, Germany, South Korea, Japan, and China. The report claims that APAC spandex market registered the largest share in 2017 and is presumed to dominate the market over the predicted time period, owing to booming population and widespread use of spandex fiber in various end-user industries including automobiles.
 

Some of the vendors that operate in global spandex market are DowDupont, Hyosung Corporation, Teijin Ltd., Invista, Toray Industries, and Assahi Kasei.