Press release
The next 10 years to see the Spandex Market getting rehashed on the count of innovation
Rapidly growing population combined with increased consumer disposable income is expected to drive demand for sports and active wear, resulting in market expansion. Increasing engagement in sporting activities is expected to lead to rising demand for comfortable apparel, such as cycling pants, casual clothing, trekking pants, and even undergarments, as consumers become more conscious of the need of leading a healthy lifestyle, which, in turn, is expected to drive market growth substantially.
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Key Takeaways from Market Study
Over the next ten years, the global market for spandex is set to expand more than 2X.
Sportswear application of spandex to increase at the highest rate over the coming years.
East Asia, South Asia Pacific, and Europe are major markets for spandex.
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Consumption of spandex, especially in Asia Pacific countries such as China, India, and Japan, is rising due to rapid industrialization, low-cost manufacturing and processing, as well as rising foreign investments.
"Growing population coupled with economic growth, especially in developing regions across the globe, and increasing preference for sports clothing are expected to drive demand for spandex over the coming years," says a Persistence Market Research analyst.
Competitive Landscape
The global spandex market has been identified as a significantly fragmented space, with the organized sector occupying a major section of the overall market.
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Some leading players included in the report, such as are Hyosung Corporation, Asahi Kasei Corporation, INVISTA, Zhejiang Huafon Spandex Co. Ltd, TK Chemical Corp, Taekwang Industrial Co. Ltd., Yantai Tayho Advanced Materials Co., Ltd, Xiamen Lilong Spandex Co., Ltd, Hyosung Corporation, Jiangsu Shuangliang Spandex Co., Ltd., Toray Industries, and Xiamen Lilong Spandex Co., Ltd., are anticipated to create tough a competitive environment at the global level.
Conclusion
The global spandex market is anticipated to grow substantially owing to many small manufacturers and startups coming up with cost-effective solutions. Steady increase in demand from textile and healthcare industries as well as increased penetration in other industries such as as automobiles, aviation, and energy, and introduction of environmentally friendly and bio-based spandex, will drive market expansion in future.
Furthermore, several market players are investing heavily in research & development to enhance the features of spandex, such as elasticity.
More Valuable Insights
Persistence Market Research, a research and consulting firm, has published a market research report on the spandex market that contains global industry analysis of 2016-2020 and opportunity assessment for 2021-2031.
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The report provides in-depth analysis of the market through different segments, namely, fabric type, process, application, and region. The report also provides supply and demand trends, along with an overview of the parent market.
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How Nylon Spandex Elasticity Impacts Performance?
Image: https://www.iyunaitextile.com/uploads/%E5%8D%9A%E5%AE%A2%E6%A0%87%E9%A2%98-How-Nylon-Spandex-Elasticity-Impacts-Performance.jpg
Nylon Spandex Fabric elasticity variations [https://www.iyunaitextile.com/nylon-spandex-sports-fabric/] define how garments perform during intense activities. You experience superior comfort and flexibility when elasticity is balanced. Stretch nylon fabric [https://www.iyunaitextile.com/nylon-spandex-sports-fabric/] adapts to movement, while nylon stretch fabric ensures durability. Nylon fabric [https://www.iyunaitextile.com/nylon-spandex-sports-fabric/] blends with spandex to create recovery properties, keeping your gear functional even after repeated use.
Key Takeaways
* Nylon spandex fabrics stretch well and bounce back easily. This makes them great…
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Report Summary:
Coherent Industry Insights presents encyclopedic research of the Spandex Market with holistic insights into significant variables and features driving the future growth of the market. The Spandex Market was studied for the projected year 2023-2030 as well as the historical period 2017-2022. The research study provides complete qualitative and quantitative analysis to help shareholders obtain a thorough grasp of the Spandex Market and its crucial dynamics.
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Rapidly growing population combined with increased consumer disposable income is expected to drive demand for sports and active wear, resulting in market expansion. Increasing engagement in sporting…
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The global spandex market is estimated to expand at a CAGR of more than 8% over the forecast period of 2022-2031. Growing demand from industries such as medical and textiles is one of the leading driving factors for rising growth and consumption of spandex.
Rapidly growing population combined with increased consumer disposable income is expected to drive demand for sports and active wear, resulting in market expansion. Increasing engagement in sporting…
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