Spandex Market Growth by Top Key Players - 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.

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.

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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.

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.

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.

Spandex -Market Taxonomy

On the basis of fabric type, the global spandex market is segmented into

Two Way Spandex
Four Way Spandex

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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