Press release
Spandex Fiber Market Size is Projected to Reach $16.9 Billion by 2030 With a CAGR of 7.31%
Spandex fibers are being extensively used in the production of medical textiles. Growth of the spandex market can be attributed to its usage in compression garments, including bandages, surgical hoses, and support hoses. Spandex is appropriate for use in sportswear and activewear applications, such as swimsuits and workout apparel, because of its lightweight and flexible nature.
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Spandex is also utilized in the production of socks. It helps keep socks in place by preventing them from slipping down and makes putting them on and taking them off easier. Socks can contain varying amounts of spandex, depending on the desired level of elasticity. One of the primary uses for spandex is in the manufacture of incontinence products and diapers. The market for diapers is forecasted to experience strong growth during the forecast period due to rising demand from countries such as China and India.
Focus on Producing Sustainable, Bio-based, and Environment-Friendly Spandex:
Polytetramethylene ether glycol (PTMEG) and diphenylmethane diisocyanate (MDI), the raw materials used in the commercial production of spandex fibers, come from petroleum feedstock. The shifting costs of these raw materials combined with the growing emphasis on sustainability along the whole textile value chain are forcing manufacturers of spandex to focus their efforts on developing sustainable, bio-based, and environmentally friendly product lines.
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In terms of application, the apparel and clothing segment held the largest share, accounting for 91.19% of the global market in 2020 and would lead the trail through the forecast period. However, the others segment is likely to witness the highest CAGR of 8.83% in 2030.
By region, Asia-Pacific was the largest market in 2020, grabbing over three-fifths of the total market share. The same would exhibit the fastest CAGR of 7.93% in 2030.
The report analyzes the key players operating in the global spandex fiber market as Hyosung Corporation, Invista, Asahi Kasei Corporation, Toray Industries, Inc., Indorama Industries Ltd., TK Chemical Corporation, Zhejiang Huafon Spandex Co. Ltd., Xiamen Lilong Spandex Co., Ltd., Yantai Spandex Co., Ltd., and Taekwang Industrial Co. Ltd.
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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.
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