Spandex Market, By Production Process (Dry Spinning, Wet Spinning, and Others), By Application (Automotive, Textile, Sportswear, Medical & Healthcare, and Others), and By Region (North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, and Rest of the World) – Market Size & Forecasting (2023-2032)

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The Spandex Market is estimated at USD 10.54 Billion in 2022, registering at a promising CAGR of 7.98% from 2023 to 2032. The historic year considered is 2020 and the base year considered for the study is 2021, the estimated year is 2023 and the forecast has been provided for the period, 2023 to 2032.

The spandex market is projected to register high demand during the forecast period, due to the increasing use of it in different applications such as textiles, automobiles, etc. 

Spandex is a synthetic fiber that is used to produce stretchable clothing. It is made of a long chain polymer called polyurethane, which is made by reacting polyester with a diisocyanate. Spandex was first produced in the early 1950s as a replacement for rubber. Spandex is superior to rubber, as they are stronger, lighter, and more versatile. It is a rubber-like product, which can be stretched to a certain degree and recoils when released. Spandex fibers can be stretched to almost 500% of their length.

Spandex is used in diverse clothing types. As it is lightweight and does not limit movement, it is regularly used in athletic wear. This includes swimsuits, bicycle pants, and exercise wear. Spandex is also used as undergarments. Hence, it is used in waistbands, bras, and briefs. Additionally, it is used in the medical and healthcare sectors in diapers, compression stockings & hoses, and bandages.

The global spandex market is growing with the increasing demand for athletic wear and compression garments. Features, such as superior elasticity, the regaining of the original shape, durability, lightweight, and resistance to UV light are boosting the demand for spandex. Additionally, an increase in the use of spandex in the automobile and healthcare sectors is fueling the demand for spandex.

Key Factors Impacting Market Growth:

  • Wide-ranging applications across various industries
  • Growing demand from the clothing industry
  • Natural latex is a close substitute
  • Strict government norms to control carbon footprints 

Regional Analysis: 

The spandex market by region has been segmented by North America, Western Europe, Asia Pacific, Middle East, Eastern Europe, and the Rest of the World. North America and Western Europe are major regions for the spandex market owing to diversified demand from end-use industries and competitive scenarios. These markets have been dynamic in terms of new product developments and related activities. Hence, some of the emerging sub-segments in this market promise high potential in this region. Major countries for the spandex market in these regions include the US, Germany, France, UK, Canada, Italy, and so on. Recent economic slowdowns, trade implications and environmental concerns are some of the key impact factors influencing the market dynamics in these regions. Developing regions including Asia Pacific, South America, and Africa have witnessed key developments in terms of organic and inorganic growth strategies. Global companies have made strategic investments in these regions with favorable production conditions and high demand from end-use industries. China, India, Brazil, South Africa, South Korea, Japan, and others have been some of the key economies in the region. Middle East promises a strong market potential with demand from countries including UAE, Saudi Arabia, Qatar, and others that are seeking to diversify the economic outlook. Eastern Europe consisting of Russia and Turkey is also estimated as one of the key markets

Companies Covered: Asahi Kasei Corporation, E. I. du Pont de Nemours and Company, Spandex Corporation Ltd., Swan Fiber Co., Ltd., The Dow Chemical Company, Toray Industries, Inc., Xinxiang Bailu Chemical Fiber Co., Ltd., Yantai Tayho Advanced Materials Corporation Ltd., Invista, Hyosung Corporation, Taekwang Industrial Co. Ltd., Zhejiang Huafon Spandex Co. Ltd., Yantai Tayho Advanced Materials Co. Ltd., and TK Chemical Corporation 

Market Segmentation:

By Production Process:

  • Dry Spinning
  • Wet Spinning
  • Others 

By Application:

  • Automotive Textile
  • Sportswear
  • Medical & Healthcare
  • Others

By Region:

  • North America
    • By Country (US, Canada, Mexico)
    • By Production Process
    • By Application
  • Western Europe
    • By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
    • By Production Process
    • By Application
  • Eastern Europe
    • By Country (Russia, Turkey, Rest of Eastern Europe)
    • By Production Process
    • By Application
  • Asia Pacific
    • By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
    • By Production Process
    • By Application
  • Middle East
    • By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
    • By Production Process
    • By Application
  • Rest of the World
    • By Region (South America, Africa)
    • By Production Process
    • By Application

Reasons to Buy This Report:

  • Market size estimation of the global spandex market on a regional and global basis
  • The unique research design for market size estimation and forecast
  • Profiling of major companies operating in the market with key developments
  • Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet specific requirements:

  • By Segment
  • By Sub-segment
  • By Region/Country

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