Product Launch (Blog)

Sep, 12 2023

Elastic Excellence: World of Spandex and Its Multifaceted Applications

Spandex, renowned for its exceptional elasticity, finds diverse applications. Primarily, it's integral in clothing, especially sportswear, activewear, and intimate apparel, enhancing flexibility and comfort. Its unique ability to stretch and recover, along with its lightweight and breathable characteristics, makes it ideal for form-fitting garments. Spandex is also used in medical compression garments, bandages, and in automotive upholstery. In industrial settings, it functions as a replacement for rubber, offering durability and resilience in various applications, from conveyor belts to elastic threads. Its versatility and adaptability remain key attributes across industries.

According to Data Bridge Market Research, the Global Spandex Market is expected to reach USD 8,642,865.12 thousand by 2029. The market is expected to grow with a CAGR of 5.9% in the forecast period of 2022 to 2029.

“Rise in consumer disposable income boosts the market’s growth”

The spandex market is experiencing significant growth, largely propelled by the rise in consumer disposable income. As people's incomes increase, there's a greater capacity to spend on comfortable and stretchable clothing, which often incorporates spandex fibers. This demand extends to sportswear, athleisure, and even everyday apparel. Spandex's unique properties of elasticity and comfort make it a favored choice. As consumers seek clothing that offers both style and flexibility, the spandex market continues to expand, reflecting changing consumer preferences and lifestyles.

What restraints the growth of the global spandex market?

“Emerging substitute materials restraints the market’s growth”

The spandex market faces a significant challenge from emerging substitute materials such as elastane and polyester elastomers. These alternatives offer similar stretch and comfort properties, occasionally at a more cost-effective price point. This poses a notable threat to traditional spandex demand, necessitating adaptation and differentiation strategies within the industry to remain competitive in the evolving market landscape.

Segmentation: Global Spandex Market

The global spandex market is segmented on the basis of technology and application. 

  • On the basis of technology, the global spandex market is segmented into solution dry-spinning, wet-spinning, and others.
  • On the basis of application, the global spandex market is segmented into clothing, medical, and others.

Regional Insights: Asia-Pacific is expected to dominate the Global Spandex Market

In Asia-Pacific, China is expected to dominate the global spandex market due to the concentration of manufacturing facilities in Asian countries, reducing production costs, and the high disposable income of consumers, enabling greater spending on comfortable and stretchable clothing, a primary application for spandex fibers.

North America, the U.S. is expected to dominate due to shifting preferences among clothing manufacturers, with Germany expected to lead due to spandex's rising popularity as a substitute for natural and synthetic rubber in industrial applications. This shift underscores the material's versatility and adaptability across various sectors, propelling market growth in the region.

To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-spandex-market

Recent Developments

  • In November 2021, Huafon Chemical unveiled the Zhejiang Manufacturing Standard for Colored Spandex Filament T/ZZB 2535-2021. This standard introduces more stringent criteria for the production and quality assessment of colored spandex filaments. It prioritizes exceptional quality and encourages independent innovation, addressing these aspects through the formulation of stricter requirements.
  • In August, Huafon Chemical released the Colored Spandex Filament T/ZZB 2535-2021 as part of the Zhejiang Manufacturing Standard. This standard introduces more rigorous criteria for the production and quality assessment of colored spandex filaments. It focuses on enhancing product quality and promoting independent innovation, emphasizing four key aspects.

The Prominent Key Players Operating in the Global Spandex Market Include:

  • Huafon Chemical Co., Ltd. (China)
  • HYOSUNG TNC (South Korea)
  • Asahi Kasei Corporation (Japan)
  • TAEKWANG INDUSTRIAL CO., LTD (South Korea)
  • Xinxiang Sunshining Ecotex Clothes Co., Ltd (China)
  • Indorama Corporation (Thailand)
  • Mitsubishi Chemical Engineering Corporation (Japan)
  • TORAY INDUSTRIES, INC. (Japan)
  • Yantai Tayho Advanced Materials Co., Ltd (China)
  • Xiamen Lilong Spandex Co., Ltd. (China)
  • Jiangsu Shuangliang Spandex Co., Ltd (China)
  • TK CHEMICAL CORPORATION (South Korea)

Above are the key players covered in the report, to know about more and exhaustive list of global spandex market companies contact, https://www.databridgemarketresearch.com/contact

Research Methodology: Global Spandex Market

Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.


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