MarkNtel Advisors recently published a detailed industry analysis of the Global Spandex Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Global Spandex Market, Share, and Trends Analysis Report – Industry Overview and Forecast to 2030
The Spandex Market size is valued at around USD 8.3 billion in 2023 and estimated to grow at a CAGR of around 8.24% during the forecast period, i.e., 2024-30.
Key Findings in Global Spandex Market:
Historical Analysis: 2019–2022
Base Year: 2023
Forecast Period: 2024–2030
Leading Market Players- Huafon Chemicals Co., Ltd, Hyosung TNC, Asahi Kasei Corporation, Taekwang Industrial Co., Ltd., Sunshining Ecotex Clothes Co., Ltd, Indorama Corporation, Jiangsu Shuangliang Spandex Co., Ltd, TK Chemical Corporation, Xiamen Lilong Spandex Co., Ltd, Yantai Tayho Advanced Material Co., Ltd, New Star Textile Co., Ltd, Positex, The LYCRA Company, Jining Ruyi High-tech Fibre Co., Ltd., Hangzhou Qingyun Advanced Materials Co., Ltd., Others
Key Highlights of the Report
Market Dimensions & Projections
Pricing Evaluation,
Recent Strategic Moves by Companies,
Primary Stakeholders,
Analysis of Import and Export Trends,
Competitive Landscape Assessment,
Emerging Opportunities,
Market Trends and Indicators
What are the major Driver the Global Spandex industry?
Surging Demand for Spandex Fibers in Medical Textile Industries – Hospitals & medical facilities have high patient traffic. Close patient contact and the presence of immune-compromised patients make these facilities susceptible to higher infection. High-touch surfaces like door bed rails, medical equipment, etc., are also at high contamination risk. As a result, healthcare workers across the globe tend to use face masks, gloves, etc., for protection from different viruses and bacteria. Medical textiles are manufactured using spandex due to their unique characteristics, including elasticity, comfort, and durability. Therefore, the increasing demand for these textiles to minimize the infection spread within healthcare facilities is driving the Global Spandex Material Market.
In addition, spandex fiber is also being increasingly used for manufacturing bandages, rubber tubing, surgical hose hoses, braces, etc., to provide compression to the surgical areas and improve the functionality of medical products. Hence, the extensive spandex usage in medical product manufacturing is accelerating industry growth.
Increasing Textile Production to Meet the Demand for Apparel for the GenZ Population – Consumer preferences for clothing styles have undergone a notable change in recent years. Individuals, specifically GenZ, prefer to keep themselves on par with the latest trends online and follow the fashion statements made by celebrities & influencers. As a result, they often purchase the clothes & apparel that are currently in demand & trending.
Hence, the increasing & consistently changing consumer preferences are leading global apparel manufacturers to release seasonal collections like Winter-specific, autumn collections, etc., throughout the year. This is augmenting the demand for numerous apparel & enhancing production, consequently uplifting the requirement for spandex material.
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What segments define the Global Spandex Market from 2024 to 2030? How do these segments contribute to market dynamics and growth?
By Application
Clothing- Market Size & Forecast 2019-2030F, Thousand Tons
Sportswear- Market Size & Forecast 2019-2030F, Thousand Tons
Activewear - Market Size & Forecast 2019-2030F, Thousand Tons
Others (Swimwear, etc.)- Market Size & Forecast 2019-2030F, Thousand Tons
Medical- Market Size & Forecast 2019-2030F, Thousand Tons
Compression Garments & Bandages - Market Size & Forecast 2019-2030F, Thousand Tons
Elastic Tapes & Wraps - Market Size & Forecast 2019-2030F, Thousand Tons
Orthopedic Braces - Market Size & Forecast 2019-2030F, Thousand Tons
Others (Prosthetic Devices, etc.) - Market Size & Forecast 2019-2030F, Thousand Tons
Home Furnishing- Market Size & Forecast 2019-2030F, Thousand Tons
Furniture Upholstery- Market Size & Forecast 2019-2030F, Thousand Tons
Bed Linens- Market Size & Forecast 2019-2030F, Thousand Tons
Curtains- Market Size & Forecast 2019-2030F, Thousand Tons
Others (Rugs, Decorative Fabrics, etc.) - Market Size & Forecast 2019-2030F, Thousand Tons
Automotive- Market Size & Forecast 2019-2030F, Thousand Tons
Seat Covers- Market Size & Forecast 2019-2030F, Thousand Tons
Headliners- Market Size & Forecast 2019-2030F, Thousand Tons
Others- Market Size & Forecast 2019-2030F, Thousand Tons
Others (Personal Care, Sports Equipment, etc.) - Market Size & Forecast 2019-2030F, Thousand Tons
According to report, Spandex is extensively used in textile industries to manufacture numerous clothes like sportswear, activewear, swimwear, casual clothes, etc.
By Technology
Dry Spinning- Market Size & Forecast 2019-2030F, Thousand Tons
Wet Spinning- Market Size & Forecast 2019-2030F, Thousand Tons
Reaction Spinning- Market Size & Forecast 2019-2030F, Thousand Tons
Melt Extrusion- Market Size & Forecast 2019-2030F, Thousand Tons
Explore the Complete Global Spandex Market Analysis Report – https://www.marknteladvisors.com/research-library/spandex-market.html
Geographical Analysis: Global Spandex Market
By Region
North America
South America
Europe
The Middle East & Africa
Asia-Pacific
Global Spandex Market Recent Development:
2022: Hyosung TNC, announced the development of bio-based spandex using natural materials extracted from corn instead of coal.
Key Questions Addressed in This Study
What are the primary factors driving the growth of the Global Spandex Market?
How is the Global Spandex Market expected to evolve over the next five years?
What key insights can be drawn from current trends shaping the market?
What is the current market size, and how is it forecasted to change in the coming years?
What is the future outlook for the market in terms of technological innovation and geographic expansion?
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Why MarkNtel Advisors?
MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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