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Spandex Market 2022| Key Players, Investment Opportunities, Top Regions, Growth and Forecast by 2028

Spandex Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Process (Knitting, Weaving, Yarn Covering); Fabric Type (Two-Way, Four-Way); Application (Clothing, Medical) and Geography

MARKET INTRODUCTION

Spandex, commonly known as lycra or elastane, is lightweight synthetic fiber known to possess exceptional strength and elasticity. In addition, spandex fabrics possess resistance to UV light. Spandex is used in manufacturing skin tight and stretchable garments. The spandex fiber finds wide usage in applications involving strenuous movements such as active sportswear. Spandex is also used across healthcare and textile industries in the manufacturing of diapers, compression stockings, home furnishings, and undergarments.

MARKET DYNAMICS

The spandex market is anticipated to grow in the forecast period owing to thriving demands for sportswear and activewear coupled with rising disposable incomes of consumers. Demands from healthcare industries for use in surgical hoses, bandages, diapers, and compression stockings further fuel the spandex market growth. However, declining imports of apparel and clothing in some major countries due to slower economic growth deters the spandex market growth. On the other hand, the global spandex market is likely to showcase growth opportunities with increasing investment in R&D during the forecast period.

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MARKET SCOPE

The “Global Spandex Market Analysis to 2028” is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of spandex market with detailed market segmentation by the process, fabric type, application, and geography. The global spandex market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading spandex market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global spandex market is segmented on the basis of process, fabric type, and application. Based on process, the market is segmented as knitting, weaving, and yarn covering. On the basis of the fabric type, the market is segmented as two-way and four-way. The market on the basis of the application is classified as clothing and medical. The market, based on clothing, is sub-segmented as sportswear, home furnishing, underwear, and others. By medical, the market is sub segmented as diapers, compression stockings & hoses, and others.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global spandex market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The spandex market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting spandex market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the spandex market in these regions.

Impacts of Covid-19 on the Market

The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries. This report on ‘spandex market’ provides the analysis on impact on Covid-19 on various business segments and country markets. The reports also showcase market trends and forecast to 2028, factoring the impact of COVID -19 Situation.

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MARKET PLAYERS

The reports cover key developments in the spandex market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market payers from spandex market are anticipated to lucrative growth opportunities in the future with the rising demand for spandex in the global market. Below mentioned is the list of few companies engaged in the spandex market.

The report also includes the profiles of key spandex companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, key developments in the past five years.

  • Asahi Kasei Corp.
  • Hyosung TNC Co
  • Indorama Industries Limited (IIL)
  • INVISTA (Koch Industries, Inc.)
  • Jiangsu Shuangliang Spandex Co., Ltd
  • Taekwang Synthetic Fiber Co., Ltd.
  • TK Chemical Corp.
  • Xiamen Lilong Spandex Co., Ltd
  • Yantai Tayho Advanced Materials Co., Ltd
  • Zhejiang Huafon Spandex Co., Ltd.

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