MarkNtel Advisors, a leading market research and consulting firm, has announced the release of its latest study titled Spandex Market Research Report: Forecast (2024–2030). This report provides a detailed assessment of the Spandex, covering its evolving dynamics, emerging trends, key growth drivers, major challenges, and competitive landscape.
Designed to guide investors, stakeholders, and business leaders, the research aims to deliver valuable insights for strategic planning, risk assessment, and investment decision-making in the years ahead.
Market Timeline Overview
- Historical Years: 2019–22
- Base Year: 2023
- Forecast Years: 2024–30
This helps businesses identify emerging opportunities, assess market risks, and develop data-driven strategies for long-term success.
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Spandex Market Outlook
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.
Spandex Market Drivers:
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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Spandex Market Challenge:
Availability of Low-cost Substitutes Impeding the Market Growth – Traditionally, the spandex fiber is manufactured via a specific chemical & catalyst-based process that involves the usage of certain chemicals like macro glycol, diisocyanate monomer, and others, making the production of spandex relatively higher. Hence, due to the increased production costs of spandex, manufacturers' price is significantly higher than other fibers such as nylon, cotton, polyester, and others in order to preserve profitability in their business.
Spandex Market Segmentation
The study categorizes the Spandex into various segments and sub-segments, each analyzed for its size, growth potential, and contribution to the overall industry.
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
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
Geographical Analysis
The report presents detailed insights into the market’s geographical expansion, highlighting key trends and opportunities across the following geographies:
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific.
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Leading Companies in Spandex Market Worldwide: Players, Analysis & Future Outlook
- 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).
Key Highlights of the Report
- Comprehensive Market Overview: In-depth analysis of market size, share, and forecasts from 2024 to 2030.
- Growth Drivers & Challenges: Clear insights into factors feeling or restraining market expansion.
- Investment & Regulatory Insights: Evaluation of key policies, funding trends, and collaborations influencing industry performance.
- Competitive Landscape: Detailed profiles of leading companies, including product portfolios, business strategies, financials, and recent developments such as mergers & acquisitions.
Analytical Tools: Application of SWOT Analysis, PESTEL Analysis, and Porter’s Five Forces Model to assess competition and external influences
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Frequently Asked Questions (FAQ)
- What is the projected growth rate of the Spandex?
2. What are the major factors driving this market’s growth?
3. Which regions are expected to lead the Spandex?
4. Who are the prominent players in the Spandex?
5. How is the competition structured in this market?
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About Us
MarkNtel Advisors is a trusted global market research and consulting company providing intelligence across the fast-moving consumer goods (FMCG) landscape, covering consumer goods, food & beverage, personal care, and retail sectors. We analyze market trends, consumer behaviors, and innovation patterns to guide brands in optimizing product portfolios and retail strategies. Our Custom Market Analysis delivers business-specific insights that empower companies to expand market presence, enhance consumer engagement, and achieve profitable growth in competitive FMCG environments.
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