Europe Spandex Market, By Technology (Solution Dry-Spinning, Wet-Spinning, and Others), Application (Clothing, Medical, and Others), Country (Germany, U.K., France, Italy, Spain, Netherlands, Belgium, Russia, Turkey, Switzerland, Luxembourg, and Rest of Europe) Industry Trends and Forecast to 2029.
Market Analysis and Insights: Europe Spandex Market
The spandex market is expected to grow in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing at a CAGR of 5.6% in the forecast period of 2022 to 2029 and is expected to reach USD 1,800,584.13 thousand by 2029.
Spandex fiber, also known as Lycra or elastane, is a long-chain polyurethane-polyurea copolymer 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 recovery properties. These characteristics entail its wide-scale use across diverse 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, diapers, bandages, and so on.
A rapidly growing population combined with rising consumer disposable income is expected to propel the demand for sports and activewear, leading to the growth of the spandex market.
The major restrain that may negatively impact the spandex market is the increasing threat of substitutes such as natural rubber latex (NRL), polybutylene terephthalate (PBT), and relatively slower economic growth in certain regions.
Increasing development of innovation in spandex fibers is expected to provide opportunity in the spandex market. However, high price volatility in raw petroleum-based materials is projected to challenge the spandex market growth.
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.
Europe Spandex Market Scope and Market Size
Europe spandex market is segmented into two segments based on technology and application. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- Based on technology, the spandex market is segmented into solution dry-spinning, wet-spinning, and others. In 2022, the solution dry-spinning is expected to dominate the spandex market due to the high spinning speed and greater ease and flexibility in implementing the dry spinning process.
- Based on application, the spandex market is segmented into clothing, medical, and others. In 2022, the clothing segment is expected to dominate the spandex market due to increasing demand in different applications such as sportswear, activewear, intimate wear, and others.
Europe Spandex Market Country Level Analysis
Europe market is analyzed, and market size information is provided by country, technology and application.
The countries covered in the Europe spandex market report are Germany, U.K., Italy, France, Spain, Russia, Switzerland, Turkey, Belgium, Netherlands, Luxemburg, and Rest of Europe.
Germany, U.K, and France have dominated in the European region due to increasing preference towards the importance of spandex among clothing manufacturers.
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.
Growing demand in the Healthcare Sector
Europe 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 spandex regulatory scenarios and their impact on the spandex market. The data is available for historic period 2020 to 2029.
Competitive Landscape and Spandex Market Share Analysis
Europe 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, Europe presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to Europe spandex market.
The major players covered in the report are HYOSUNG TNC, Asahi Kasei Corporation., Xinxiang Sunshining Ecotex Clothes Co.,Ltd, TORAY INDUSTRIES, INC., Mitsubishi Chemical Corporation, other domestic and global players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
- In August 2021, Hyosung TNC signed a MOU on Gwangyang Bay Resources Circulation Project. The MOU signed companies established a circulation system that bolsters sustainable consumption and production by recycling waste resources. Hyosung TNC will produce recycled fiber Regen with the waste PET bottles.