天风证券：氨纶需求有望持续增长

Core Viewpoint - The demand for spandex is expected to continue growing due to the expansion of application areas and the increasing proportion of spandex in downstream fabrics [1] Group 1: Demand Trends - In recent years, the demand for spandex has shown two major trends: continuous expansion of application areas and an increasing proportion of spandex in downstream fabrics [1] - The downstream demand for spandex is expected to remain stable in 2024, with further growth anticipated as applications expand [1] Group 2: Differentiated Spandex - Differentiated spandex is expanding its application areas from simple knitwear to various fields such as automotive interiors, medical bandages, health products, and artificial organs [1] - The production proportion of differentiated spandex in China is approximately 23%, while developed countries have a differentiation rate as high as 60% [1] - The application of differentiated spandex is expected to open up broader demand space [1]