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Spandex Market Achieves USD 8.3 billion in 2023, Braces for 8.24% CAGR Elevate Until 2030

Spandex Market Achieves USD 8.3 billion in 2023, Braces for 8.24% CAGR Elevate Until 2030

Global Spandex Market A Dive from USD 8.3 billion in 2023/by 2030 | MarkNtel Advisors

MarkNtel Advisors has recently released an all-encompassing report on Global Spandex Market. The report thoroughly explores the present and future market scenarios, providing valuable insights into market size, share, and competitor segmentation. It also delivers an overview of manufacturers, regions, product categories, and application areas. This extensive research is designed to empower clients with the knowledge required to comprehend and capitalize on market trends for their business strategies.

Forecast 2030: Revealing Spandex Market Insights and Analysis

The Global Spandex Market size is valued at around USD 8.3 billion in 2023 and estimated to grow at a CAGR of around 8.24% during the forecast period, i.e., 2024-30.

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Market Driver: Surging Demand for Spandex Fibers in Medical Textile Industries

Hospitals & medical facilities have high patient traffic. Close patient contact and the presence of immune-compromised patients make these facilities susceptible to higher infection. High-touch surfaces like door knobs, bed rails, medical equipment, etc., are also at high contamination risk. As a result, healthcare workers across the globe tend to use face masks, gloves, etc., for protection from different viruses and bacteria. Medical textiles are manufactured using spandex due to their unique characteristics, including elasticity, comfort, and durability. Therefore, the increasing demand for these textiles to minimize the infection spread within healthcare facilities is driving the Global Spandex Material Market.

A Comprehensive Overview of Geographical Diversity:

the Global Spandex Market expands across:

  • North America
  • South America
  • Europe
  • The Middle East & Africa
  • Asia-Pacific

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Spandex Market Segmentation Outline:

  • By Application (Clothing [Sportswear, Activewear, Others], Medical [Compression Garments & Bandages, Elastic Tapes & Wraps, Orthopedic Braces, Others], Home Furnishing [Furniture Upholstery, Bed Linens, Curtains, Others], Automotive [Seat Covers, Headliners, Others], Others)
  • By Technology (Dry Spinning, Wet Spinning, Reaction Spinning, Melt Extrusion)

Competitive Outlook

Huafon Chemicals Co., Ltd, Hyosung TNC, Asahi Kasei Corporation, Taekwang Industrial Co., Ltd., Sunshining Ecotex Clothes Co., Ltd, Indorama Corporation, Jiangsu Shuangliang Spandex Co., Ltd, TK Chemical Corporation, Xiamen Lilong Spandex Co., Ltd, Yantai Tayho Advanced Material Co., Ltd, New Star Textile Co., Ltd, Positex, The LYCRA Company, Jining Ruyi High-tech Fibre Co., Ltd., Hangzhou Qingyun Advanced Materials Co., Ltd., Others.

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About MarkNtel Advisors

MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.

Using such information, our clients can identify attractive investment opportunities & strategize their moves to yield higher ROI (Return of Interest) through an early mover advantage with top-management approaches.

We understand the mounting & diverse needs of our clients. Hence, our analysts focus on emerging industries to provide services that fulfil their assessment of the current & future industry potential, identify white spaces & hotspots, & venture into new geographies or business segments in the future.

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