North America Spandex Market, By Technology (Solution Dry-Spinning, Wet-Spinning and Others), Application (Clothing, Medical, and Others), Country (U.S., Canada, and Mexico) Industry Trends and Forecast to 2029.
Market Analysis and Insights: North America Spandex Market
North America 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 6.0% in the forecast period of 2022 to 2029 and is expected to reach USD 2,192,002.23 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, and bandages.
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 North America spandex market report provides details of market share, new developments, and product pipeline analysis, the impact of domestic and localized 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.
North America Spandex Market Scope and Market Size
The 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, solution dry-spinning is expected to dominate the spandex market due to increased awareness about the efficiency of solution dry-spinning technology in manufacturing spandex in the region.
- 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 raising people's awareness of their health and inclining towards exercising in the region.
North America Spandex Market Country Level Analysis
The market is analyzed, and market size information is provided by technology and application.
The countries covered in the North America spandex market report are U.S., Canada, and Mexico
The U.S. is dominating the market in the North American region due to rising demand from the sports industry for various types of spandex fiber.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact 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, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of sales channels are considered while providing forecast analysis of the country data.
Positive Outlook towards Activewear Segment
North America spandex market also provides you with detailed market analysis for every country's growth in the installed base of different kinds of products for the market, the impact of technology using lifeline curves and changes in spandex regulatory scenarios, and their impact on the spandex market. The data is available for the historical period 2010 to 2020.
Competitive Landscape and North America Spandex Market Share Analysis
North America spandex market competitive landscape provides details by the 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 breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to the spandex market.
The major players covered in the report are Asahi Kasei Corporation, HYOSUNG TNC, Xinxiang Sunshining Ecotex Clothes Co.,Ltd, Mitsubishi Chemical Corporation, TORAY INDUSTRIES, INC. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
- In March 2016, Xinxiang Sunshining Ecotex Clothes Co.,Ltd presented in the 27th session of the Shanghai international fashion yarn exhibition. This exhibition helped the company to showcase its product portfolio.