Spandex Market to Make Great Impact in Near Future by 2026 | 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,
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.
Spandex -Market Taxonomy:
On the basis of fabric type, the global spandex market is segmented into
Two Way Spandex
Four Way Spandex
On the basis of production process, the global spandex market is segmented into
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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.
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.
There is a lucrative demand for spandex in textile and healthcare industry which has augmented the spandex market in North America.
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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