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The size of the global spandex fiber market, estimated at USD 710 million in 2022, is expected to increase to USD 1484 million by 2030, rising at a CAGR of 9.7% over the forecast period (2023-2030).
Activewear, sportswear, swimwear, intimate apparel, and even denim are all produced using spandex fibers because of its elasticity and stretchability. The demand for spandex fibers in various applications has increased as consumers look for more flexible and comfortable apparel options. A larger demand for activewear and sports gear has been attributed to the global trend towards better lifestyles, increased engagement in sports and fitness activities, and the athleisure fashion trend. The demand for spandex in the industry is fueled by the fact that these kinds of apparel frequently use spandex fibers to offer the necessary stretch and flexibility. Innovative spandex mixes and applications have been created as a result of technological developments in the textile industry. New spandex-based fabrics with improved performance qualities, including as moisture-wicking, breathability, and antibacterial capabilities, are constantly being researched and developed by manufacturers. These developments have increased the potential uses of spandex across a range of industries, which has helped the market flourish.
The first step in the research approach used to assess and predict the market is to gather information about the top competitors' income streams through secondary research. The offerings of the market participants are also taken into account while segmenting the market. Using the revenue of the major market participants as a starting point, a bottom-up approach was used to determine the entire market size of the worldwide spandex fiber market. The complete market was divided into a number of segments and subsegments after the overall market size was determined. These segments and subsegments were then validated through primary research by conducting in-depth interviews with important figures like CEOs, VPs, directors, and executives. In order to complete the overall market engineering process and determine the precise statistics for all segments and subsegments, data triangulation and market breakdown processes were used.
A synthetic fiber known as spandex is created from a long polyurethane chain, also known as lycra or elastane. This fiber is more resilient than rubber and is renowned for its excellent flexibility. It is incredibly abrasion resistant, dyeable, and lightweight. When fitted, spandex fiber material does not fray as easily as other elastic textiles. It is used in a wide variety of textile sectors, including tailored swimwear, cycle apparel, and casual clothing. Additionally, it serves as a raw material for the production of healthcare-related products including newborn diapers and surgical gloves. Due to population increase and shifting fashion preferences, the global market for spandex fiber is growing at a significant rate. Furthermore, a change in the market dynamics of spandex fibers in the textile industry is linked to the development of raw materials made from bio-based sources.
Due to its wide range of characteristics, including its elasticity, durability, and resistance to ultraviolet light, spandex fiber is becoming more and more in demand from a variety of industrial verticals, including the textile and automotive sectors. Stretchable clothing is made possible by the widespread use of spandex fiber in the textile sector. Additionally, throughout the projected period, the healthcare sector's spike in demand for bandages, medical housing, and diapers fuels the expansion of the spandex fiber market share globally. During the projected period, rising middle class incomes in developing nations and rising personal healthcare awareness among consumers drove changes in living standards, which in turn fueled the market for spandex fiber.
It is divided into solution dry spinning, solution wet spinning, and various types of production methods. It is divided into three categories based on use: clothing, home furnishings, and others. Due to the growing use of spandex fiber materials in various garments and important sporting goods, the apparel and clothing segment held the largest market share. It is examined from the perspectives of North America, Europe, Asia-Pacific, and LAMEA. The region with the highest demand for spandex fiber is Asia-Pacific, and it is anticipated that it will continue to hold this position during the projection period. Due to the large population base and the existence of numerous emerging nations in the region, the high acceptance of spandex fiber products has continued to fuel the expansion of the spandex fiber market size.
The demand for spandex fibers has greatly expanded as a result of the trend of mixing athletic and athleisure into everyday clothing. In line with consumer preferences for multifunctional and comfortable clothes, these fibers offer stretch, comfort, and durability. The textile business is placing more and more focus on environmentally friendly and sustainable production methods. Manufacturers are looking on ways to use recycled materials and lessen the negative effects of producing spandex fiber on the environment.
Report Coverage
Global Spandex Fiber research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Spandex Fiber report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Spandex Fiber competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Spandex Fiber market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Spandex Fiber market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Spandex Fiber market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Indorama Industries Ltd., Asahi Kasei Corporation, Taekwang Industrial Co. Ltd., Xiamen Lilong Spandex Co., Ltd., TK Chemical Corporation, Hyosung Corporation, Toray Industries, Inc., Yantai Spandex Co., Ltd., invista, Zhejiang Huafon Spandex Co. Ltd., Jiangsu Shuangliang Spandex Co., Ltd. (China), Toyobo Co., Ltd. (Japan), RadiciGroup (Italy)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Spandex Fiber market based on the below-mentioned segments:
Global Spandex Fiber Market, By Production Method
Solution Dry Spinning
Solution Wet Spinning
Others
Global Spandex Fiber market, By Application
Home Furnishing
Others
Apparel and Clothing
Global Spandex Fiber market, Regional Analysis
Activewear, sportswear, swimwear, intimate apparel, and even denim are all produced using spandex fibers because of its elasticity and stretchability. The demand for spandex fibers in various applications has increased as consumers look for more flexible and comfortable apparel options. A larger demand for activewear and sports gear has been attributed to the global trend towards better lifestyles, increased engagement in sports and fitness activities, and the athleisure fashion trend. The demand for spandex in the industry is fueled by the fact that these kinds of apparel frequently use spandex fibers to offer the necessary stretch and flexibility. Innovative spandex mixes and applications have been created as a result of technological developments in the textile industry. New spandex-based fabrics with improved performance qualities, including as moisture-wicking, breathability, and antibacterial capabilities, are constantly being researched and developed by manufacturers. These developments have increased the potential uses of spandex across a range of industries, which has helped the market flourish.
The first step in the research approach used to assess and predict the market is to gather information about the top competitors' income streams through secondary research. The offerings of the market participants are also taken into account while segmenting the market. Using the revenue of the major market participants as a starting point, a bottom-up approach was used to determine the entire market size of the worldwide spandex fiber market. The complete market was divided into a number of segments and subsegments after the overall market size was determined. These segments and subsegments were then validated through primary research by conducting in-depth interviews with important figures like CEOs, VPs, directors, and executives. In order to complete the overall market engineering process and determine the precise statistics for all segments and subsegments, data triangulation and market breakdown processes were used.
A synthetic fiber known as spandex is created from a long polyurethane chain, also known as lycra or elastane. This fiber is more resilient than rubber and is renowned for its excellent flexibility. It is incredibly abrasion resistant, dyeable, and lightweight. When fitted, spandex fiber material does not fray as easily as other elastic textiles. It is used in a wide variety of textile sectors, including tailored swimwear, cycle apparel, and casual clothing. Additionally, it serves as a raw material for the production of healthcare-related products including newborn diapers and surgical gloves. Due to population increase and shifting fashion preferences, the global market for spandex fiber is growing at a significant rate. Furthermore, a change in the market dynamics of spandex fibers in the textile industry is linked to the development of raw materials made from bio-based sources.
Due to its wide range of characteristics, including its elasticity, durability, and resistance to ultraviolet light, spandex fiber is becoming more and more in demand from a variety of industrial verticals, including the textile and automotive sectors. Stretchable clothing is made possible by the widespread use of spandex fiber in the textile sector. Additionally, throughout the projected period, the healthcare sector's spike in demand for bandages, medical housing, and diapers fuels the expansion of the spandex fiber market share globally. During the projected period, rising middle class incomes in developing nations and rising personal healthcare awareness among consumers drove changes in living standards, which in turn fueled the market for spandex fiber.
It is divided into solution dry spinning, solution wet spinning, and various types of production methods. It is divided into three categories based on use: clothing, home furnishings, and others. Due to the growing use of spandex fiber materials in various garments and important sporting goods, the apparel and clothing segment held the largest market share. It is examined from the perspectives of North America, Europe, Asia-Pacific, and LAMEA. The region with the highest demand for spandex fiber is Asia-Pacific, and it is anticipated that it will continue to hold this position during the projection period. Due to the large population base and the existence of numerous emerging nations in the region, the high acceptance of spandex fiber products has continued to fuel the expansion of the spandex fiber market size.
The demand for spandex fibers has greatly expanded as a result of the trend of mixing athletic and athleisure into everyday clothing. In line with consumer preferences for multifunctional and comfortable clothes, these fibers offer stretch, comfort, and durability. The textile business is placing more and more focus on environmentally friendly and sustainable production methods. Manufacturers are looking on ways to use recycled materials and lessen the negative effects of producing spandex fiber on the environment.
Report Coverage
Global Spandex Fiber research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Spandex Fiber report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Spandex Fiber competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Spandex Fiber market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Indorama Industries Ltd., Asahi Kasei Corporation, Taekwang Industrial Co. Ltd., Xiamen Lilong Spandex Co., Ltd., TK Chemical Corporation, Hyosung Corporation, Toray Industries, Inc., Yantai Spandex Co., Ltd., invista, Zhejiang Huafon Spandex Co. Ltd., Jiangsu Shuangliang Spandex Co., Ltd. (China), Toyobo Co., Ltd. (Japan), RadiciGroup (Italy) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Spandex Fiber Market from 2021 to 2030.
- Market Forecast for Spandex Fiber Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Spandex Fiber competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Spandex Fiber
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Spandex Fiber market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Spandex Fiber market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Indorama Industries Ltd., Asahi Kasei Corporation, Taekwang Industrial Co. Ltd., Xiamen Lilong Spandex Co., Ltd., TK Chemical Corporation, Hyosung Corporation, Toray Industries, Inc., Yantai Spandex Co., Ltd., invista, Zhejiang Huafon Spandex Co. Ltd., Jiangsu Shuangliang Spandex Co., Ltd. (China), Toyobo Co., Ltd. (Japan), RadiciGroup (Italy)
Primary Target Market
- Market Players of Spandex Fiber
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Spandex Fiber market based on the below-mentioned segments:
Global Spandex Fiber Market, By Production Method
Solution Dry Spinning
Solution Wet Spinning
Others
Global Spandex Fiber market, By Application
Home Furnishing
Others
Apparel and Clothing
Global Spandex Fiber market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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