Asia-Pacific Spandex Market, By Technology (Solution Dry-Spinning, Wet-Spinning and Others), Application (Clothing, Medical, and Others), Country (Japan, China, South Korea, India, Singapore, Thailand, Indonesia, Malaysia, Philippines, Australia & New Zealand and Rest of Asia-Pacific) Industry Trends and forecast to 2029.
Market Analysis and Insights: Asia-Pacific Spandex Market
Spandex market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing at a CAGR of 6.2% in the forecast period of 2022 to 2029 and expected to reach USD 3,834,459.05 thousand by 2029. Spandex fiber, also known as lycra or elastane, is a long-chain polyurethane-polyurea copolymer that is composed of flexible macro-glycol segments and rigid di-isocyanate segments arranged in a specific order. The fiber is characterized by its exceptional elastic and recover properties. These characteristics entail its wide-scale use across a diverse set of applications in textile & clothing and healthcare industries. Some prominent areas of application for spandex fibers include sportswear, casual clothing, undergarments and home-furnishings. Healthcare applications of spandex fiber include compression stockings & hoses, and diapers and bandages.
The major factors driving the growth of the spandex market are rising popularity of spandex as a substitute for natural and synthetic rubber in industrial applications. Introduction of spandex in denim and rising demand for stretched denim in many countries is creating opportunities for the growth of the market. High market price due to laborious manufacturing process is acting as the major restraint for spandex packaging market. The availability of substitutes such as natural latex is acting as a major challenge for the growth of the market.
This spandex market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Asia-Pacific Spandex Market Scope and Market Size
Asia-Pacific spandex market is segmented into two notable segments based on technology and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of technology, the market is segmented into solution dry-spinning, wet-spinning, and others. In 2022, solution dry-spinning is dominating due to mostly manufacture used the technology to produce the spandex.
- On the basis of application, the market is segmented into clothing, medical, and others. In 2022, clothing is dominating as it increasing demand in different application such as sport wear, active wear, and intimate wear and among others.
Spandex Market Country Level Analysis
Asia-Pacific market is analysed and market size information is provided by country, technology and application.
The countries covered in Asia-Pacific spandex market report are Japan, China, South Korea, India, Singapore, Thailand, Indonesia, Malaysia, Philippines, Australia & New Zealand and Rest of Asia-Pacific.
Countries such as China, India and Japan are leading in population consumption in spandex market China has dominated in the region due to increasing export of spandex products. India dominated due to the high disposable income of consumers which help in creating more awareness about the spandex comfort products. Japan is dominating the market in Asia-Pacific region due to rising demand in sports industry. At the same time, these counties have increased their production capacity to meet the local and regional demands.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Rise in Number of Material Choices for Polymer Manufacturing such as Cyclic Olefin Copolymer (COC)
Asia-Pacific spandex market also provides you with detailed market analysis for every country growth in installed base of different kind of products for spandex market, impact of technology using life line curves and changes in infant formula regulatory scenarios and their impact on the spandex market. The data is available for historic period 2011 to 2020.
Competitive Landscape and Spandex Market Share Analysis
Asia-Pacific spandex market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breath, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to Asia-Pacific Spandex market.
Some major players covered in the report is Huafon Chemical Co., Ltd.,HYOSUNG TNC,TAKEWANG INDUSTRIAL CO.,LTD.,Asahi Kasei Corporation,Indorama Corporation,Yantai Tayho Advanced Materials Co.,Ltd,TK CHEMICAL CORPORATION,Xiamen Lilong Spandex Co., Ltd., Mitsubishi Chemical Corporation, Xinxiang Sunshining Ecotex Clothes Co.,Ltd, TORAY INDUSTRIES, INC. are among other players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
- In November 2021, Zhejiang Manufacturing Standard formulated by Huafon Chemical released Colored Spandex Filament T / ZZB 2535-2021. The standard puts forward stricter requirements for producing and inspecting colored spandex filaments from the four aspects of excellent quality and independent innovation. This will help the company improve the industry manufacturing standard and expand the brand effect of "Made in Zhejiang," and stimulate the company's innovation driving potential, increasing the application of new technologies, new methods, and new ideas and expanding the sustainable competitive advantage.