IMARC Group has recently released a new research study titled, “Spandex Fiber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the spandex fiber market. The report also includes competitor and regional analysis, and contemporary advancements in the market.
Market Overview:
The global spandex fiber market reached a value of US$ 7.44 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 10.55 Billion by 2027 exhibiting a CAGR of 5.70% during 2022-2027.
Year Considered to Estimate the Market:
Base Year of the Analysis: 2021
Historical Period: 2016-2021
Forecast Period: 2022-2027
Industry Definition and Application:
Spandex fiber or elastane is a smooth, lightweight man-made fiber with unique elasticity. It exhibits excellent abrasion resistance and negligible needle-cutting damage during stitching compared to other elastic textiles. It offers numerous benefits, including durability, resistance to body oils, sweat, lotions, and detergents, and no static and pilling issues. As a result, spandex fiber finds extensive applications in manufacturing athletic, aerobic, and exercise apparel, swimsuits, bathing suits, surgical hose, cycling pants, hosiery, socks, belts, foundation, and shaped garments.
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Spandex Fiber Market Trends and Drivers:
The market is primarily driven by the rising product utilization in swimming and cycling garments. Moreover, there is a surge in the use of spandex fiber in the healthcare sector to fabricate bandages, surgical hoses, pressure diapers, and compression stockings. In line with this, the increasing use of spandex fiber in the automotive industry for manufacturing door panel fabrics is positively influencing the market growth.
Moreover, the escalating demand for textiles around the globe is another major growth-inducing factor. Besides this, several key players are focusing on mergers and acquisitions (M&A), capacity and business expansions, and partnerships to expand their customer base. Furthermore, governments of numerous countries are taking favorable initiatives to promote sports participation among students. In addition, the increasing demand for quick-drying, comfortable materials for activewear has catalyzed market growth. Other factors, including extensive investments in research and development (R&D) activities, growing awareness regarding personal healthcare, and rising living standards, are also anticipated to drive the market further.
| Report Coverage | Details |
| Market size value in 2021 | US$ 7.44 Billion |
| Market forecast in 2027 | US$ 10.55 Billion |
| Growth Rate | CAGR of 5.70% from 2022 to 2027 |
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Spandex Fiber Market Analysis and Segmentation:
The report has segmented the market on the basis of fabric type, production method and application.
Breakup by Fabric Type:
- Two-Way
- Four-Way
Breakup by Production Method:
- Solution Dry Spinning
- Solution Wet Spinning
- Others
Breakup by Application:
- Apparel and Clothing
- Sportswear
- Casual Wear
- Inner Wear
- Medical and Healthcare
- Others
- Home Furnishing
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape With Key Players:
The competitive landscape of the spandex fiber market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Taekwang Industrial Co.Ltd
- Indorama Corporation
- Hyosung Corporation
- Xiamen Lilong Spandex Co. Ltd.
- Toray Industries Inc.
- TK Chemical Corporation
- Mitsubishi Chemical Corporation
- Yantai Tayho Advanced Materials Co. Ltd.
- BASF SE
- Asahi Kasei Corporation
- Invista (Koch Industries Inc.)
- Huafon Chemical Co. Ltd.
- Teijin Limited
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
Key Highlights of the Report:
- Value Chain
- Impact of COVID-19
- SWOT Analysis
- Market Performance (2016-2021)
- Porter’s Five Forces Analysis
- Comprehensive Mapping of the Competitive Landscape
- Market Drivers and Success Factors
- Market Outlook (2022-2027)
Note: We are in the process of updating our reports. If you want to receive the latest research data covering the time period from 2023 to 2028, along with industry trends, market size, and competitive analysis, click on the request sample report. The team would be able to deliver the latest version of the report in a quick turnaround time.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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