Press release
Spandex Market to Expand At An Amazing Rate in 2024 - 2031 | INVISTA, Asahi Kasei Corporation, Hyosung Corporation
Spandex Market
Global spandex market was valued at US$ 8484.9 Million in 2021, exhibiting a CAGR of 9.24 % during the forecast period (2022 to 2030).
Market Dynamics:
The global spandex market is estimated to experience significant growth over the forecast period, driven by growing demand from sports apparel industry and increasing adoption of activewear. Sports apparel manufacturers are widely incorporating spandex into their clothing lines owing to its stretchable and flexible nature which allows free movement. In addition, rising health awareness has boosted demand for activewears in recent years. Changing lifestyle patterns and increasing popularity of activities like running, cycling and gymnasium among individuals have spurred sales of sports apparel and activewear containing spandex. Growing fashion consciousness coupled with rising disposable income in developing nations have also contributed to the growth of global spandex market.
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Opportunity: Increasing research on bio-based spandex
With growing environmental concerns, research on renewable and sustainable alternatives to petrochemical-based spandex is gaining momentum. Some major players are actively exploring possibilities of producing spandex using agricultural waste biomass or renewable plant sources. Successful commercialization of such bio-based spandex will offer an attractive green opportunity in the future. It can help address issues relating to over-reliance on non-renewable feedstock and reduce GHG emissions. Manufacturers investing in novel production technologies utilizing bio-resources will gain competitive edge in the evolving regulatory scenario favoring bio-materials.
Trend: Rapid adoption of e-commerce expanding accessible markets
Rise of e-commerce platforms globally has revolutionized retail channels. This is opening up new growth avenues for spandex supplying industries as well. Online shopping has increased the reach of activewear and athletic garments to wider demographics including smaller towns beyond tier 1 cities. E-tailers offering a variety of sports and fitness apparel lines embedded with spandex are attracting more customers. Live streaming, influencer marketing are further driving the online sales of such products. Easy virtual accessibility and convenient delivery are major contributors to the ballooning e-commerce pie. This expanding digitalization and direct-to-consumer retail models presents substantial opportunities to spandex manufacturers.
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Top Companies Featured in This Report:
★ INVISTA
★ Asahi Kasei Corporation
★ Hyosung Corporation
★ Zhejiang Huafon Spandex Co. Ltd.
★ Yantai Tayho Advanced Materials Co. Ltd.
★ Indorama Industries Ltd
★ TK Chemical Corp.
★ Taekwang Industrial Co.
★ Ltd
★ Jiangsu Shaungliang Spandex Co., Ltd.,
★ Xiamen Lilong Spandex Co. Ltd.
Market Segmentation:
By Product Type:
★ By Fabric Type: Two-Way, Four-Way
★ By Process: Knitting, Weaving, Yarn Covering
By Applications:
★ By Application: Clothing (Sportswear, Home Furnishing, Underwear, Other Casuals), Medical (Diaper, Compression Stockings & Hoses, Other Medical)
Key Regions/Countries Classified as Follows:
» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
Key Insights from the Global Spandex Market Analysis:
Market Size Evaluation: Assessing the value and sales volume of the Spandex market spanning from 2024 to 2031.
Market Trends and Dynamics: Analyzing the drivers, opportunities, challenges, and risks influencing the Spandex market.
Macro-economic and Regional Impacts: Exploring how global inflation and geopolitical events affect the Spandex market.
Segment Analysis: Examining the market value and sales volume of Spandex by type and application from 2024 to 2031.
Regional Market Overview: Assessing the current situations and future prospects of the Spandex market in different regions.
Country-level Studies: Providing insights into revenue and sales volume for major countries within each region.
The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.
In summary, whether you're engaged in manufacturing, distribution, or investment within the Spandex sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.
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Author Bio:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
(LinkedIn: linkedin.com/in/alice-mutum-3b247b137 )
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Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
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