The Global Spandex Fiber Market is projected to reach more than 6 USD billion by the end of 2025, growing at a CAGR of more than 7% over the foreseeable future. Spandex soon became popular owing to its toughness. Spandex also has a greater tolerance to dry heat and oil relative to rubber. The level of comfort and wicking capacity found in Spandex is unprecedented and does not exist at such a high level in any other product. Spandex is used in a constantly growing variety of clothing pieces.
In terms of type, the global spandex market report is segmented into solution dry spinning and solution wet spinning. Solution dry spinning is expected to maintain its dominance over the forecast period. In term of application, the global spandex fiber market is segmented into textile and healthcare. It is well known that spandex is commonly used in the textile industry. However, this is also a valuable cloth for hospitality and manufacturing organizations.
Spandex fabrics are mostly used in garments where fit and comfort both are required. For instance, leggings, shorts, wetsuits, leotards, zentai suits, triathlon suits, etc. It is also used in the manufacture of household items such as microbeads pillows and fitted sheets. One of the lesser recognized applications of spandex is event preparation and indoor decoration.
Spandex is very sensitive to heat due its chemical formation and does not absorb liquid. Hence, washing spandex fiber in hot water or ironing might damage the fabric. Further, the smooth and slippery surface of spandex creates lack of friction, which may sometimes pose risk to the wearer. These are some of the factors that are hindering the growth potential of the spandex fiber market.
The market is segmented into various geographies such as North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America. Asia Pacific accounted for a major market revenue share owing to the presence of China and India. Key players include Hyosung Corporation, Teijin Limited, Eastern New Century Corporation, Asahi Kasei Corporation, Toray Industries Inc., Acelon Chemical and Fiber Corporation, Toyobo Co., Ltd, Indorama Corporation, Invista
Key Segments Across Spandex Fiber Market
- Type Overview, 2018-2025, (USD Billion) (Million Tons)
- Solution dry spinning
- Solution wet spinning
- Applications Overview, 2018-2025, (USD Billion) (Million Tons)
- Regional Overview, 2018-2025, (USD Billion) (Million Tons)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Central & South America
- Rest of Central & South America
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- North America