Asia-Pacific Spandex Market is forecasted to grow at 6.2% with factors such as significant demand for sports and active wear is an important driver for the Asia-Pacific spandex market. A rapidly growing population combined with rising consumer disposable income is expected to propel the demand for sports and active wear, leading to the growth of the Asia-Pacific spandex market.
The major restraint that may negatively impact the Asia-Pacific spandex market is the increasing threat of substitutes such as natural rubber latex (NRL), polybutylene terephthalate (PBT), and relatively slower economic growth in certain regions.
Increasing development of innovation in spandex fibers is expected to provide opportunity in the Asia-Pacific spandex market. However, high price volatility in raw petroleum-based materials is projected to challenge the Asia-Pacific spandex market growth.
Asia-Pacific Spandex Market Scenario
According to Data Bridge Market Research Huafon Chemical Co., Ltd. accounts for an estimated market share of 52.86% in the Asia-Pacific spandex market. The company has gained outstanding sale through innovative product development for various industries.
- In October 2021, Huafon Chemical greatly showed up together with five well-known domestic yarn and fabric suppliers. It brought the forum with the theme "new materials, new life-display of recent achievements in qianxi spandex research and development" for downstream enterprise representatives, brands, and purchasers of an industrial chain.
Trends Impacting the Market
Now the question is which other regions Huafon Chemical Co., Ltd., HYOSUNG TNC, Yantai Tayho Advanced Materials Co., Ltd are targeting? Data Bridge Market Research has forecasted a large growth in Asia-Pacific spandex market and the market leaders targeting India and China to be their next revenue pockets for 2022.
Asia-Pacific spandex market is becoming more competitive every year with companies such as regions Huafon Chemical Co., Ltd., HYOSUNG TNC, Yantai Tayho Advanced Materials Co., Ltd as they are the market leaders for spandex. The data bridge market research new reports highlight the major growth factors and opportunities in the Asia-Pacific spandex market.
For more analysis on the Asia-Pacific spandex market request for a briefing with our analysts: https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=asia-pacific-spandex-market
Asia-Pacific Spandex Market Development
- In August 2021, Hyosung TNC signed a MOU on Gwangyang Bay Resources Circulation Project. The MOU signed companies established a circulation system that bolsters sustainable consumption and production by recycling waste resources. Hyosung TNC will produce recycled fiber Regen with the waste PET bottles.
Scope of the Asia-Pacific Spandex Market
Asia-Pacific spandex market is segmented based on countries into Japan, China, South Korea, India, Singapore, Thailand, Indonesia, Malaysia, Philippines, Australia & New Zealand and Rest of Asia-Pacific.
All country-based analysis of the Asia-Pacific spandex market is further analyzed based on further segmentation, the Asia-Pacific spandex market is segmented into solution dry-spinning, wet-spinning, and others. On the basis of application, the Asia-Pacific spandex market is segmented into clothing, medical, and others
To know more about the study: https://www.databridgemarketresearch.com/reports/asia-pacific-spandex-market
Key Pointers Covered in of Asia-Pacific Spandex Market Industry Trends and Forecast to 2029
- Market Size
- Market Standards and Changes
- Market Trials in Different Regions
- Market Requirements in Different Regions
- Market Shares in Different Regions
- Recent Developments for Market Competitors
- Recent Market Value for Different regions
- Sales Data for Market Competitors
- Key Vendors and Disruptors Study
- Supply Chain Competiveness
Key Market Competitors Covered in the Report
- Huafon Chemical Co., Ltd.
- HYOSUNG TNC
- Yantai Tayho Advanced Materials Co., Ltd
- TAKEWANG INDUSTRIAL CO., LTD.
- Xiamen Lilong Spandex Co., Ltd.
- TK CHEMICAL CORPORATION
- Asahi Kasei Corporation.
- Xinxiang Sunshining Ecotex Clothes Co., Ltd
- Mitsubishi Chemical Corporation
- Jiangsu Shuangliang spandex Co., Ltd
- Indorama Corporation
- TORAY INDUSTRIES, INC.
Above are the key players covered in the report, to know about more and exhaustive list of Asia-Pacific spandex market, contact us https://www.databridgemarketresearch.com/toc/?dbmr=asia-pacific-spandex-market
Research Methodology: Asia-Pacific Spandex Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Primary Respondents
- Demand Side: End Industries
- Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
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