Industry Overview of Spandex Fiber Market
Spandex fiber, also known as elastane, is a synthetic fiber known for its smoothness, lightweight nature, and exceptional elasticity. It possesses unique properties that set it apart from other elastic materials. When stitched, it demonstrates minimal damage from needle cutting and is highly abrasion-resistant. Spandex fiber is also dyeable and offers excellent color retention compared to other stretch fabrics. It provides several advantages, including resistance to body oils, perspiration, lotions, and detergents, as well as durability and resistance to static and pilling. These qualities make spandex fiber a preferred choice in the manufacturing of various products, including aerobic, athletic, and exercise apparel, swimwear, ski pants, hosiery, socks, belts, bra straps and side panels, surgical hose, bicycle pants, and shaped garments, among others.
How Big Is the Spandex Fiber Market?
According to the new market research report by IMARC Group the global spandex fiber market reached a value of US$ 7.8 Billion in 2022. It is projected to reach a value of US$ 10.7 Billion by 2028, exhibiting a CAGR of 5.2% during 2023-2028.
Global Industry Trends and Drivers:
The spandex fiber market is experiencing significant growth, driven by the increasing demand for quick-drying and comfortable fabrics in activewear and the widespread usage of spandex fiber in the production of swimwear and cycling garments worldwide. Additionally, the healthcare industry is witnessing a rising need for spandex fiber in the manufacturing of products like pressure diapers, compression stockings, surgical hoses, and bandages, contributing to market expansion. The automotive sector is also embracing spandex fiber for producing door panel fabrics due to its elasticity, resistance to ultraviolet light, and durability. Moreover, spandex fiber finds applications in the textile industry for tailoring athletic, aerobic, and exercise apparel as well as casual wear. Furthermore, manufacturers are focusing on improving the fabric quality to meet changing fashion trends, which is expected to drive the spandex fiber market in the forecast period.
Key Market Segmentation:
The report provides detailed segmentation of the global spandex fiber market based on based on product, distribution channel and application and region.
Breakup by Fabric Type:
Breakup by Production Method:
- Solution Dry Spinning
- Solution Wet Spinning
Breakup by Application:
- Apparel and Clothing
- Casual Wear
- Inner Wear
- Medical and Healthcare
- Home Furnishing
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The report provides a comprehensive analysis of the industry key players listed below:
The Major Players in the market are Asahi Kasei Corporation, BASF SE, Huafon Chemical Co. Ltd., Hyosung Corporation, Indorama Corporation, Invista (Koch Industries Inc.), Mitsubishi Chemical Corporation, Taekwang Industrial Co.Ltd, Teijin Limited, TK Chemical Corporation, Toray Industries Inc., Xiamen Lilong Spandex Co. Ltd. and Yantai Tayho Advanced Materials Co. Ltd.
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