Spandex Market Exceeds USD 8.3 Billion in 2023, Projected to Surge with 8.24% CAGR by 2030

Spandex Market Exceeds USD 8.3 Billion in 2023, Projected to Surge with 8.24% CAGR by 2030

MarkNtel Advisors who is leading market research company, has recently published a research report, titled Global Spandex Market”. The report is estimated historical data, base year and forecast period and the projections are made for the next five years, i.e., 2024-30. The data, facts, and figures are sourced from reliable platforms, including government portals, white papers, and others.

For a better understanding to download a free sample PDF of this study –

Market Study Period

Historical Data: 2019-22

Base Year: 2023

Forecast Period: 2024-30

CAGR (2024-2030): 8.24%

Global Spandex Market Insights:

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. The report covers each and every aspect of the market in detail, offering actionable insights to the stakeholders. We extensively cover key trends, opportunities, possible challenges, and major growth drivers for the industry. The report also highlights the role and involvement of governments and other relevant factors that promote market growth.

Global Spandex Market Drivers:

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.

In addition, spandex fiber is also being increasingly used for manufacturing bandages, rubber tubing, surgical hose hoses, braces, etc., to provide compression to the surgical areas and improve the functionality of medical products. Hence, the extensive spandex usage in medical product manufacturing is accelerating industry growth.

Explore the Complete Spandex Market Analysis Report –

Which segments are covered in the Spandex Market Research Report?

  • By Application
    • Clothing
      • Sportswear
      • Activewear
      • Others (Swimwear, etc.)
    • Medical
      • Compression Garments & Bandages
      • Elastic Tapes & Wraps
      • Orthopedic Braces
      • Others (Prosthetic Devices, etc.)
    • Home Furnishing
      • Furniture Upholstery
      • Bed Linens
      • Curtains
      • Others (Rugs, Decorative Fabrics, etc.)
    • Automotive
      • Seat Covers
      • Headliners
      • Others
    • Others (Personal Care, Sports Equipment, etc.)
  • By Technology
    • Dry Spinning
    • Wet Spinning
    • Reaction Spinning
    • Melt Extrusion
  • By Region
    • North America
    • South America
    • Europe
    • The Middle East & Africa
    • Asia-Pacific

Top 10 Key Brands/Players in the Spandex Market

Our analysts have closely analyzed leading players within the industry, providing stakeholders with valuable insights into the competitive landscape. This enables them to formulate strategic tactics based on the comprehensive data compiled in the report. The information encompasses recent developments, mergers and acquisitions, product/service launches, expansion plans, and revenue-generating opportunities. Notable entities featured in the report include:

  • 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

For a Customized Analysis Report, Just Drop Your Inquiry Here –

Frequently Asked Questions

  1. Which companies dominate the Spandex Market in terms of market share?
  2. What is the projected market size of Spandex Market in 2030?
  3. What key factor is anticipated to propel the Spandex Market by 2030?
  4. How big is the Spandex Market?

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