IMARC Group, a leading market research company, has recently releases report titled “Spandex Fiber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global spandex fiber market share, growth, size, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Industry Overview of Spandex Fiber Market
Spandex fiber, also known as elastane, represents a man-made fiber that is smooth, lightweight, and possesses unique elasticity. It is abrasion-resistant and demonstrates negligible damage from needle cutting when stitched as compared to other elastic materials. Spandex fiber is dyeable and has an excellent graze than other flexible fabrics. In addition to this, it offers various advantages, such as resistance against body oils, perspiration, lotions, and detergents, durability, no static and pilling problems, etc. As a result, spandex fiber is extensively utilized in the manufacturing of aerobic, athletic, and exercise apparel, swim and bathing suits, ski pants, slacks, hosiery, socks, belts, brassiere straps and bra side panels, surgical hose, bicycle pants, shaped garments, etc.
How Big Is the Spandex Fiber Market?
The global spandex fiber market reached a value of US$ 7.8 Billion in 2022. It is projected to reach a value of US$ 10.7 Billion by 2028, exhibiting a CAGR of 5.2% during 2023-2028.
Global Industry Trends and Drivers:
The escalating demand for quick dry and comfortable fabrics for activewear and the rising product usage in producing swimming and cycling garments across the globe are among the primary factors driving the spandex fiber market. Besides this, the inflating need for this material in the healthcare industry to manufacture pressure diapers, compression stockings, surgical hoses, bandages, etc., is further augmenting the market growth. Moreover, the growing popularity of spandex fiber in the automotive sector to produce door panel fabrics, on account of its elasticity, resistance to ultraviolet light, durability, etc., is catalyzing the global market. Apart from this, it is also used in the textile industry for tailoring athletic, aerobic, and exercise apparel and casual wear. Furthermore, leading manufacturers are focusing on enhancing the quality of the fabric, owing to the changing fashion trends, which is anticipated to propel the spandex fiber market over the forecasted period.
Key Market Segmentation:
The report provides detailed segmentation of the global spandex fiber market based on based on product, distribution channel and application and region.
Breakup by Fabric Type:
- Two-Way
- Four-Way
Breakup by Production Method:
- Solution Dry Spinning
- Solution Wet Spinning
- Others
Breakup by Application:
- Apparel and Clothing
- Sportswear
- Casual Wear
- Inner Wear
- Medical and Healthcare
- Others
- Home Furnishing
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
The report provides a comprehensive analysis of the industry key players listed below:
The Major Players in the market are Asahi Kasei Corporation, BASF SE, Huafon Chemical Co. Ltd., Hyosung Corporation, Indorama Corporation, Invista (Koch Industries Inc.), Mitsubishi Chemical Corporation, Taekwang Industrial Co.Ltd, Teijin Limited, TK Chemical Corporation, Toray Industries Inc., Xiamen Lilong Spandex Co. Ltd. and Yantai Tayho Advanced Materials Co. Ltd.
Key highlights of the Report:
- Market Performance (2018–2023)
- Market Outlook (2023–2028)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
TOC for the Report:
- Preface
- Scope and Methodology
- Executive Summary
- Introduction
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape