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 The latest research study “Spandex Fiber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global spandex fiber market size reached a value of US$ 7.44 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 10.55 Billion by 2027 exhibiting a CAGR of 5.70% during 2022-2027.

The global spandex fiber market is primarily driven by the escalating demand for sports and activewear due to the increasing consumer participation in sports and leisure activities. Additionally, the rising automobile production has accelerated the adoption of spandex fiber for manufacturing automotive door panel fabrics. 

Along with this, there has been growing product usage in pressure diapers, compression stockings, surgical hoses, and bandages for use in the healthcare industry. Furthermore, the leading manufacturers are heavily investing in research and development (R&D) activities to enhance the production capacity and quality, thereby propelling the market growth. 

Other factors, including the increasing demand for textiles, technological advancements, elevating incomes, and rapid industrialization, are also anticipated to drive the market further.  

Ask Analyst for Customization and Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/spandex-fiber-market

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