Spandex Market

Spandex Market, By Fabric Type,
Production Process and Application Global Industry Insights, Trends,
Outlook, 2017-2025
Spandex, elastane or lycra is an elastic synthetic fiber. It contains a combination of long
chain polglycol, short chain diisocynate, and minimum 85% of polyurethane. Stabilizers
and colorants are added to improve quality and enhance appearance of spandex.
Spandex offers superior strength, weight, and versatility as compared to rubber. They
have high elasticity and can be stretched 500% of their length. It is mainly used in
fabrics due to its properties such as ability to be stretched, softness, smoothness,
lightweight, easy dyeing, abrasion resistant, resistant to detergent, resistant to body oils
and perspiration, and compatible with other materials and fibers. It is commonly used in
textile and clothing industry and healthcare industry. Spandex is used in sportswear,
active wear, casual clothing, under garments, home furnishings, diapers, bandages, and
compression stocking and hoses.
Increasing use of spandex in healthcare and textile industry, increasing penetration in
other industries such as automobiles, aviation and energy, and the launch of ecofriendly
and bio-based spandex are the major market drivers of spandex market. Development
of alternatives such as natural latex is the major threat to this market. However, many
market players are investing significantly in research and development to improve
characteristics of spandex such as elasticity, for further growth of spandex market.
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Dry spinning is commonly used for synthesis of spandex as it is a cost effective method.
However, the use of wet spinning method is increasing due to its application in
manufacturing spandex for medical use. Textile is the largest application segment of
spandex market, owing to increasing awareness about its stretching ability and
increasing demand for sportswear.
Spandex -Market Outlook
Asia pacific is the largest and rapid growing market, owing to industrialization, improved
standard of living, low cost of production and processing, and increasing foreign
investments. Moreover, the presence of a large number of local players in India, China,
and Japan is fueling the market growth. According to India Brand Equity Foundation
(IBEF), trust established by the Department of Commerce, Ministry of Commerce and
Industry, and Government of India, the apparel market in India is expected to exhibit a
CAGR of 11.8% and is projected to reach US$ 180 billion by 2025 which, in turn, will
drive the growth of the spandex market in India.
Europe is witnessed to have a fastest growing market mainly in Germany, France, Italy,
Spain, and Netherlands. This is owing to the growing apparel and textile sector in this
region. Thus, there is a significant demand for spandex in Europe. There is a lucrative
demand for spandex in textile and healthcare industry which has augmented the
spandex market in North America.
In developing nations of Latin America, Africa, and Middle East, factors such as
increasing population, increasing disposable income, and rising preference and
adoption of spandex containing products are fueling the growth of spandex market in
this region.
Key Players in the Global Spandex Market
The key market players in spandex market are adopting inorganic and organic
strategies such as merger and acquisition, capacity expansion, and new product launch
to sustain their position. Some companies operating in the spandex market include
Asahi Kasei Corporation, DuPont, Hyosung Corporation, Indorama Industries Limited,
INVISTA, Jiangsu Shaungliang Spandex Co., Ltd, TK Chemical Corp., Xiamen Lilong
Spandex Co., Ltd, Yantai, Taekwang Industrial Co. Ltd., Tayho Advanced Materials Co.,
Ltd, and Zhejiang Huafon Spandex Co. Ltd.
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Spandex Market report categorizes global market by Fabric Type (Two Way Spandex, Four Way Spandex), By Production Process (Wet spinning, Dry spinning, Melt Extrusion, Reaction Spinning), and By Application (Medical, Textile, Others) - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2017-2025

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