𝐒𝐩𝐚𝐧𝐝𝐞𝐱 𝐅𝐢𝐛𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐢𝐳𝐞 / 𝐍𝐮𝐦𝐛𝐞𝐫𝐬

According to Zion Market Research, the global spandex fiber market was valued at $8.5 billion in 2023 and is projected to reach $17.5 billion by the end of 2032. It is expected to grow at a compound annual growth rate (CAGR) of approximately 10% from 2024 to 2032.

Introduction

Spandex, also referred to as elastane, is a synthetic fiber renowned for its remarkable elasticity. Spandex is a popular choice in the textile and apparel industries, as it offers a great deal of stretch and comfort to a wide range of clothing items, including activewear and everyday garments. The spandex fiber market has experienced substantial growth in recent years, fueled by the rising consumer preference for clothing that is both comfortable and long-lasting. This article provides an in-depth analysis of the factors influencing the spandex fiber market, the leading companies involved, the obstacles they face, and the potential developments.

𝐂𝐥𝐢𝐜𝐤 𝐇𝐞𝐫𝐞 𝐅𝐨𝐫 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞

Market Drivers

Growing Demand for Activewear and Sportswear: The rising popularity of activewear and sportswear has led to an increase in demand. With the growing popularity of fitness and active lifestyles, there has been a surge in the demand for activewear and sportswear. Spandex has become an essential material in meeting this demand. With its exceptional stretch, support, and moisture-wicking properties, it’s the perfect choice for performance clothing.
Expansion in Fashion and Apparel Industry: The fashion and apparel industry has seen significant growth with the widespread use of spandex in everyday clothing such as jeans, underwear, hosiery, and outerwear. This versatile material has gained popularity for its ability to enhance comfort and provide a better fit. The fashion industry’s emphasis on form-fitting and flexible clothing has significantly increased the popularity of spandex.
Textile Technology Advancements: The quality and performance of spandex fibers have been significantly enhanced through innovations in textile manufacturing. Spandex has become a crucial ingredient in a wide range of clothing due to its improved durability, elasticity, and comfort, which has resulted in a significant boost in market demand.
Rising Popularity of Athleisure: The growing demand for athleisure has had a major impact on the spandex market, as this trend combines athletic and leisurewear. With the growing demand for clothing that combines style and comfort, spandex-infused garments have gained significant popularity among consumers.
Comfort and Performance Needs: Consumers are placing a growing emphasis on the comfort and performance of their clothing selections. Spandex is highly sought after for its exceptional qualities, including its ability to stretch and its lightweight nature. This makes it a popular choice for both casual and formal attire.

Major Players in the Industry

INVISTA: INVISTA is a leading global producer of synthetic fibers, providing a diverse selection of spandex fibers under the renowned LYCRA® brand. The company has gained a reputation for its cutting-edge advancements in stretch and recovery technology, serving a diverse range of industries such as activewear, lingerie, and hosiery.
Hyosung Corporation: Hyosung Corporation is a prominent player in the global market for spandex fibers, renowned for its highly regarded creora® brand. Our company provides a diverse selection of spandex products that are known for their exceptional durability, elasticity, and performance. These high-quality materials are commonly used in sportswear, intimate apparel, and casual clothing.
Asahi Kasei Corporation: Asahi Kasei Corporation is a well-known company in the spandex industry, manufacturing fibers under the ROICA™ brand. Our company is dedicated to offering environmentally-friendly and top-performing spandex solutions for both fashion and functional wear.
Toray Industries, Inc.: Toray Industries, Inc. is a prominent manufacturer of spandex fibers, providing a wide range of products that are known for their exceptional stretchability and comfort. Our company’s spandex fibers have found their way into a wide range of applications, from sportswear and casual wear to industrial textiles.
Taekwang Industrial Co., Ltd.: Taekwang Industrial Co., Ltd. is a major player in the spandex market, manufacturing a variety of spandex fibers that are utilized in a wide range of textile applications. The company places a strong emphasis on innovation and quality when it comes to its spandex products.

𝐂𝐥𝐢𝐜𝐤 𝗛𝐞𝐫𝐞 𝗧𝗼 𝗔𝐜𝐜𝐞𝐬𝐬 𝗧𝐡𝐞 𝗙𝐮𝐥𝐥 𝗠𝗮𝗿𝗸𝗲𝘁 𝗥𝐞𝐩𝐨𝐫𝐭:

𝐒𝐩𝐚𝐧𝐝𝐞𝐱 𝐅𝐢𝐛𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐒𝐩𝐚𝐜𝐞

The global spandex fiber market profiles key players such as:

🏭 ACEPARA®(para-Aramid) / Taekwang Industrial.KOREA

🏭 Xiamen Lilong Spandex Co, Ltd

🏭 Xinxiang Bailu Chemical Fiber Group Fittings Factory

🏭 Asahi Kasei

🏭 Hyosung Corporation

🏭 Highsun

🏭 INVISTA

🏭 Toray Industries, Inc.

🏭 Baoding Swan Spandex Co., Ltd.

🏭 INDORAMA — ICS (Industries Chimiques du Senegal)

🏭 Jiangsu Shuangliang Spandex Co., Ltd.

🏭 Spandex

🏭 Yantai Spandex Co Ltd

🏭 Yantai Tayho Advanced Materials Co., Ltd.

🏭 And Others

Challenges and Opportunities

The spandex fiber industry encounters various challenges, including the volatility of raw material prices, environmental issues associated with the production of synthetic fibers, and the demand for more sustainable alternatives. In addition, the industry is highly competitive, with a multitude of companies competing for a slice of the market.

Nevertheless, these challenges also offer possibilities for expansion and creativity. The growing interest in sustainable and environmentally-friendly textiles is fueling the advancement of bio-based and recycled spandex fibers. In addition, the continuous development of manufacturing processes is enhancing the efficiency and environmental sustainability of spandex production.

The global spandex fiber market is segmented as follows:

By Production Process Type

Solution Dry Spinning
Solution Wet Spinning

By End-Use

Textile
Medical & Healthcare

𝗥𝗲𝗴𝗶𝗼𝗻𝗮𝗹 𝗔𝗻𝗮𝗹𝘆𝘀𝗶𝘀:

» 𝗡𝗼𝗿𝘁𝗵 𝗔𝗺𝗲𝗿𝗶𝗰𝗮: United States, Canada, and Mexico

» 𝗦𝗼𝘂𝘁𝗵 & 𝗖𝗲𝗻𝘁𝗿𝗮𝗹 𝗔𝗺𝗲𝗿𝗶𝗰𝗮: Argentina, Chile, Brazil, and Others

» 𝗠𝗶𝗱𝗱𝗹𝗲 𝗘𝗮𝘀𝘁 & 𝗔𝗳𝗿𝗶𝗰𝗮: Saudi Arabia, UAE, Israel, Turkey, Egypt, South Africa & Rest of MEA.

» 𝗘𝘂𝗿𝗼𝗽𝗲: UK, France, Italy, Germany, Spain, Benelux, Russia, NORDIC Nations and Rest of Europe.

» 𝗔𝘀𝗶𝗮-𝗣𝗮𝗰𝗶𝗳𝗶𝗰: India, China, Japan, South Korea, Indonesia, Thailand, Singapore, Australia, and the Rest of APAC.

Future Outlook

The outlook for the spandex fiber market appears optimistic, as there is a projected compound annual growth rate (CAGR) that suggests a robust demand. With the ever-changing demands of consumers, the market is poised for growth as preferences shift towards comfort, performance, and sustainability. It is possible that upcoming trends will involve a rise in the utilization of bio-based spandex, advancements in fiber technology, and a stronger incorporation of spandex in different textile applications.

Overall, the spandex fiber market is set to experience substantial growth as it adapts to the changing demands of the fashion and apparel sectors. Leading companies are making significant investments in research and development to provide cutting-edge, top-notch, and environmentally-friendly spandex solutions. With the increasing demand for comfortable and versatile clothing, it is clear that spandex will continue to be a crucial component in the textile market.

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