Exploring Spandex Market Opportunity, Latest Trends, Demand, and Development By 2030- MarkNtel Advisors

 According to Markntel Advisors Report, Spandex Market is expected to grow at a significant growth rate, and the analysis period is 2024-2030, considering the base year as 2023. Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.

Spandex is a synthetic fiber known for its exceptional elasticity and is used in form-fitting consumer apparel, ties, handbags, pillows, bandages, masks, rubber tubing, etc. These fibers are lightweight and offer abrasion resistance, owing to which they are classified as superior to rubber.

 

Global Spandex Market Research Report & Summary:

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.       

Time Period Captured in the Report:

·         Historical Years: 2019-22

·         Base Years: 2023

·         Forecast Years: 2024-2030

Who are the Key Players Operating in the Spandex Market?

The top companies of the Spandex Market ruling the industry are: 

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

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Spandex Industry Recent Development:

·         2022: Hyosung TNC, announced the development of bio-based spandex using natural materials extracted from corn instead of coal.What is Included in Spandex Market Segmentation?

The Spandex Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic.  The further bifurcations are as follows:

-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

-By Region

-North America

-South America

-Europe

-The Middle East & Africa

-Asia-Pacific

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Market Dynamics -Global 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.

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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MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

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