Global Spandex Market Size study, by Technology (Solution Dry-Spinning, Wet-Spinning, and Others) by Application (Clothing, Medical, and Others) and Regional Forecasts 2022-2028

Global Spandex Market is valued approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2022-2028. Spandex is a fiber which is composed of 85 percent polyurethane by weight. These fibres are commonly employed because of their excellent elasticity. Lycra, Numa, Spandelle, and Vyrene are all trademarked fibres in this category. The increasing technological advancement by the key market players has led the adoption of Spandex across the forecast period. Huafon Chemical's Zhejiang Manufacturing Standard issued Colored Spandex Filament T / ZZB 2535-2021 in November 2021. The standard establishes higher standards for the production and inspection of coloured spandex filaments in four areas: exceptional quality, independent innovation, and cost-effectiveness. Also, with the rapidly growing population combined with rising consumer disposable income, the adoption & demand for Spandex is likely to increase the market growth during the forecast period. However, increasing threat of substitutes might impede the growth of the market over the forecast period of 2022-2028.

The key regions considered for the global Spandex Market study includes Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the significant region across the world in terms of market share owing to the manufacturer's corporate business in Asian countries or the high disposable income of consumers. Whereas, North America is  anticipated to exhibit highest growth rate over the forecast period 2022-2028. Factors such as rising disposable income, shifting preference towards the importance of spandex among clothing manufacturers would create lucrative growth prospects for the Spandex Market across Asia-Pacific region.

Major market player included in this report are:
Huafon Chemical Co., Ltd.
HYOSUNG TNC.
Asahi Kasei Corporation
TAEKWANG INDUSTRIAL CO., LTD
Xinxiang Sunshining Ecotex Clothes Co.,Ltd
Indorama Corporation
Mitsubishi Chemical Engineering Corporation.
TORAY INDUSTRIES, INC.
Yantai Tayho Advanced Materials Co., Ltd
Xiamen Lilong Spandex Co., Ltd.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. 

The detailed segments and sub-segment of the market are explained below: 
By Technology:
Solution Dry-Spinning
Wet-Spinning
Others
 

By Application:
Clothing
Medical
Others
 

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia 
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028

Target Audience of the Global Spandex Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors