(EMAILWIRE.COM, October 29, 2021 ) The growth of the textile industry is the key driver of the spandex fiber market. The major applications of spandex in textile industry are sportswear, swimwear, lingerie, apparel, active wear, and other stretchable fibers.The spandex fiber market is fragmented with few prominent players and large number of small scale manufacturers.Out of those prominent players Hyosung Corporation (South Korea) and INVISTA (USA) are the two market leaders.

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Hyosung Corporation (South Korea), is a leading player in the spandex fiber market. The company offers wide range of spandex fiber under its brand,Creora. The company also manufacturers carpet yarn and polyester fiber. The company serves a wide range of application area such as sportswear, swimwear, active wear, lingerie, and apparel. Hyosung Corporation adopted strategies such as new product launches and expansions. The company has effectively managed developing new products and acquiring different facilities to expand its product portfolio, globally. The company has launched creora highclo 20de, 30de and 55de under the Spandex brand Creora in 2015. Hyosung Corporation has also expanded its production capacity of spandex plant in China.

INVISTA (USA) dominates the North America fiber market by providing a wide range of spandex fibers. INVISTA is a subsidiary of Koch Industries. INVISTA accounts for one of the world’s largest integrated producers of polymers and fibers, and is also the owner of the LYCRA brand (spandex). Apart from apparel, the company also manufactures fibers for flooring, household, automotive, industrial, and outdoor & travel industries. The company adopted several growth strategies in past few years such as new technology, new product developments, collaborations, and expansions. The wide range of brand & product and active operations of the company make INVISTA bolster.

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The other companies involved in the development of spandex fiberinclude Du Pont (U.S.), Teijin Ltd. (Japan), Asahi Kasei Corporation (Japan), Toray Industries (Japan), Far Eastern New Century Corporation (Taiwan), Acelon Chemical and Fiber Corporation (Taiwan), and others.

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