Submitted by: Submitted by Rahulvarpe
Views: 10
Words: 697
Pages: 3
Category: Other Topics
Date Submitted: 08/30/2016 11:39 PM
Global spandex market size was estimated at over 760 kilo tons in 2015 and is likely to exceed 1,550 kilo tons by 2023, growing at a CAGR of more than 8% from 2016 to 2023. It is also commonly known as elastane.
Asia Pacific, especially China spandex market size was the dominant region and accounted for more than 60% of the total volume in 2015. China accounted for a major chunk of the market in Asia Pacific region in 2015.
Dry spinning technology was majorly preferred among manufacturers over the past few years. Other process includes wet spinning, melt extrusion and reaction spinning.
Growing application scope in apparel and textile industry is likely to drive spandex market over the forecast period. They are used in textile manufacturing applications such as leggings, gloves, cycling jerseys and competitive swimwear. Spandex market price has witnessed to be weak in mid 2014 owing to ease of tight supply and low demand from downstream applications. The market is expected to grow with recovery in U.S. economy post recession.
Request for detailed professional and technical insights@
https://www.gminsights.com/request-toc/upcoming/312
Increase in automobile production, particularly in Asia Pacific is likely to drive market growth. Major automobile manufacturers are shifting bases to countries such as Indonesia, Thailand, India and China owing to cheap labor wages and favorable government incentive schemes. It is preferred for manufacturing door panel fabrics required to stretch and adhere to floor. Global automobile sales were estimated at 75 million units in 2011 and are likely to cross 90 million units by 2017.
Sportswear application is likely to witness highest gains over the forecast period. Technology advancement with moisture management properties coupled with performance efficiency is likely to benefit elastane market growth. Up to 3% of spandex fiber in fabric is enough for fabric improvement & shape retention whereas high...