MarkNtel Advisors analyses the growth rate of the Spandex market in the forecast period from 2024 to 2030. In addition to comprehensive market insights such as market value, growth rate, market segmentation, key market players, and market dynamic. This detailed analysis aims to provide valuable information for stakeholders in the Spandex market, helping them make informed decisions.
Market Outlook – 2024-2030:
The Global 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. The factors responsible for the growth of spandex across the globe have been the soaring usage of spandex fiber in the textile industries for manufacturing sportswear, garments, and casual wear, the increasing application of the spandex in the medical & healthcare industry, and rising usage in the automotive interiors, industrial belts, and other applications. The automotive industry highly uses spandex fiber due to its features like higher elasticity, durability, and resistance. This fiber is often blended with other textile materials such as leather, vinyl, Suede, and others to provide a snug fit for seat covers to enhance the overall appearance & comfort of the interior of automotive vehicles.
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Key Company Profiles
This report explores recent significant developments in the Spandex Market, focusing on the leading companies and their innovative profiles. The major players in the Spandex Market, featured in this report, include:
- 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 (Colossustex)
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Market Segmentation & Coverage
This research report by MarkNtel Advisors categorizes the Spandex Market to forecast revenues and analyse trends across each of the following sub-markets:
- 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
- Clothing- Market Size & Forecast 2019-2030F, Thousand Tons
Spandex is extensively used in textile industries to manufacture numerous clothes like sportswear, activewear, swimwear, casual clothes, etc., making Clothing a leading application.
- 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
- By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
What are the primary factors driving the growth of the Spandex Market?
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 knobs, 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.
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Key Questions Addressed:
- Market Size and Growth Projections: What is the current size of the market, and how is it expected to grow?
- Investment Opportunities: Which products, segments, and regions present the most attractive investment opportunities?
- Technology Trends and Regulatory Influences: What are the prevailing technology trends and regulatory factors influencing the market?
- Competitive Ranking: How do top vendors rank regarding market share and competitive positioning?
- Revenue Sources and Strategic Opportunities: What revenue sources and strategic opportunities guide vendors’ market entry or exit decisions?
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