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Spandex Fiber Market By Production Method, By Application: Global Opportunity Analysis and Industry Forecast, 2020-2030

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    Report

  • 246 Pages
  • March 2022
  • Region: Global
  • Allied Market Research
  • ID: 5640426
Description Jump to:
The global spandex fiber market was valued at $8.36 billion in 2020, and is projected to reach $16.87 billion by 2030, growing at a CAGR of 7.31% from 2021 to 2030.

Spandex fiber is a synthetic fiber, manufactured from the long chain of polyurethane, also called as lycra or elastane. This fiber is known for its exceptional elasticity and is more durable than rubber. It is lightweight, dyeable, and has excellent abrasion resistance. As compared to other elastic materials, when the spandex fiber is tailored, it doesn’t get frayed. Its prominent characteristics make it popular in the manufacturing of various textile industries, including tailoring of swimming wear, cycling wear, and casual wear.

Growth of global spandex fiber market is mostly driven, owing to rise in demand for spandex fiber for competitive swimming and cycling activities, rise in tourism, and consumers shifting trends for water-based tourism. Change in fashion trend is expected to play a key role in the growing adoption of spandex fiber for clothing apparel. Furthermore, development of bio-based products is attributed to the change in market dynamics of textile sector. Increase in investment in R&D of the spandex fiber is anticipated to offer lucrative growth opportunities for market in the forecast period. Growth in adoption of spandex fiber in manufacturing of pressure diapers and bandages is spurring the market growth. Furthermore, increase in applications in healthcare sector are expected to augment the growth of the market. Various government initiatives and campaigns encourage the students for participating in the water-related activities, which are expected to stimulate the growth of the market. Fluctuating prices of spandex fiber and availability of substitutes hamper the growth of the market in the forecast period. Moreover, stringent government regulations are expected to hinder the growth of the market.

The outbreak of pandemic accelerated growth of healthcare industry. Spandex fibers have wide range of application in the healthcare industry as it is used to manufacture masks, gloves, and medical apparel. Increase in demand for aforementioned healthcare products during the COVID-19 positively impacted the growth of the market.

The global spandex fiber market is segmented on the basis of type of production method, application, and region.

Depending on type of production method, it is segmented into solution dry spinning, solution wet spinning, and others. According to application, it is categorized into apparel & clothing, home furnishing, and others. The apparel & clothing accounted for the highest market share, owing to increase in utilization of spandex fiber products in various clothes and major sport equipment. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is the leading region in terms of demand for spandex fiber, and is expected to maintain its dominance during the forecast period. High adoption of spandex fiber products in the region continue to boost the growth of the spandex fiber market size, due to huge population base and presence of many developing countries in this region.

The key players operating in the global spandex fiber market are 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.

Other players in the value chain include Xinxiang Bailu Chemical Fibre Group Co. Ltd., Baoding Swan Spandex Co., Ltd., Spandex Corporation Ltd., Jiangsu Shuangliang Spandex Co., Ltd., Highsun Group, and Yantai Tayho Advanced materials Co. Ltd. are competing for the share of the market through product launch, joint venture, partnership, and expanding the production capabilities to meet the future demand for the spandex fiber market in the forecast period.

Key Benefits For Stakeholders

  • This report provides a detailed quantitative analysis of the current spandex fiber market trends and estimations from 2020 to 2030, which assists to identify the prevailing opportunities.
  • An in-depth analysis of spandex fiber market across the globe is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate specific plans.
  • A comprehensive analysis of the factors that drive and restrain the growth of the market is provided.
  • Region-wise and country-wise market conditions are comprehensively analyzed in this report.
  • The projections in this report are made by analyzing the current trends and future market potential from 2020 to 2030 in terms of value.
  • An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
  • Key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the global spandex fiber market.

Key Market Segments


By Production Method

  • Solution Dry Spinning
  • Solution Wet Spinning
  • Others

By Application

  • Home Furnishing
  • Others
  • Apparel and Clothing

By Region

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • France
  • Germany
  • Italy
  • U.K.
  • Netherlands
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest Of Asia Pacific
  • LAMEA
  • Brazil
  • Argentina
  • South Africa
  • Rest of LAMEA

Key Market Players

  • 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.
  • Taekwang Industrial Co. Ltd.

Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Top player positioning
3.5. Market dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. COVID-19 Impact Analysis on the market
3.7. Pricing Analysis
3.8. Value Chain Analysis
3.9. Key Regulation Analysis
CHAPTER 4: SPANDEX FIBER MARKET, BY PRODUCTION METHOD
4.1 Overview
4.1.1 Market size and forecast
4.2 Solution Dry Spinning
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market analysis by country
4.3 Solution Wet Spinning
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market analysis by country
4.4 Others
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market analysis by country
CHAPTER 5: SPANDEX FIBER MARKET, BY APPLICATION
5.1 Overview
5.1.1 Market size and forecast
5.2 Apparel and Clothing
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market analysis by country
5.3 Home Furnishing
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market analysis by country
5.4 Others
5.4.1 Key market trends, growth factors and opportunities
5.4.2 Market size and forecast, by region
5.4.3 Market analysis by country
CHAPTER 6: SPANDEX FIBER MARKET, BY REGION
6.1 Overview
6.1.1 Market size and forecast
6.2 North America
6.2.1 Key trends and opportunities
6.2.2 North America Market size and forecast, by Production Method
6.2.3 North America Market size and forecast, by Application
6.2.4 North America Market size and forecast, by country
6.2.4.1 U.S.
6.2.4.1.1 Market size and forecast, by Production Method
6.2.4.1.2 Market size and forecast, by Application
6.2.4.2 Canada
6.2.4.2.1 Market size and forecast, by Production Method
6.2.4.2.2 Market size and forecast, by Application
6.2.4.3 Mexico
6.2.4.3.1 Market size and forecast, by Production Method
6.2.4.3.2 Market size and forecast, by Application
6.3 Europe
6.3.1 Key trends and opportunities
6.3.2 Europe Market size and forecast, by Production Method
6.3.3 Europe Market size and forecast, by Application
6.3.4 Europe Market size and forecast, by country
6.3.4.1 France
6.3.4.1.1 Market size and forecast, by Production Method
6.3.4.1.2 Market size and forecast, by Application
6.3.4.2 Germany
6.3.4.2.1 Market size and forecast, by Production Method
6.3.4.2.2 Market size and forecast, by Application
6.3.4.3 Italy
6.3.4.3.1 Market size and forecast, by Production Method
6.3.4.3.2 Market size and forecast, by Application
6.3.4.4 U.K.
6.3.4.4.1 Market size and forecast, by Production Method
6.3.4.4.2 Market size and forecast, by Application
6.3.4.5 Netherlands
6.3.4.5.1 Market size and forecast, by Production Method
6.3.4.5.2 Market size and forecast, by Application
6.3.4.6 Rest of Europe
6.3.4.6.1 Market size and forecast, by Production Method
6.3.4.6.2 Market size and forecast, by Application
6.4 Asia-Pacific
6.4.1 Key trends and opportunities
6.4.2 Asia-Pacific Market size and forecast, by Production Method
6.4.3 Asia-Pacific Market size and forecast, by Application
6.4.4 Asia-Pacific Market size and forecast, by country
6.4.4.1 China
6.4.4.1.1 Market size and forecast, by Production Method
6.4.4.1.2 Market size and forecast, by Application
6.4.4.2 Japan
6.4.4.2.1 Market size and forecast, by Production Method
6.4.4.2.2 Market size and forecast, by Application
6.4.4.3 India
6.4.4.3.1 Market size and forecast, by Production Method
6.4.4.3.2 Market size and forecast, by Application
6.4.4.4 South Korea
6.4.4.4.1 Market size and forecast, by Production Method
6.4.4.4.2 Market size and forecast, by Application
6.4.4.5 Rest Of Asia Pacific
6.4.4.5.1 Market size and forecast, by Production Method
6.4.4.5.2 Market size and forecast, by Application
6.5 LAMEA
6.5.1 Key trends and opportunities
6.5.2 LAMEA Market size and forecast, by Production Method
6.5.3 LAMEA Market size and forecast, by Application
6.5.4 LAMEA Market size and forecast, by country
6.5.4.1 Brazil
6.5.4.1.1 Market size and forecast, by Production Method
6.5.4.1.2 Market size and forecast, by Application
6.5.4.2 Argentina
6.5.4.2.1 Market size and forecast, by Production Method
6.5.4.2.2 Market size and forecast, by Application
6.5.4.3 South Africa
6.5.4.3.1 Market size and forecast, by Production Method
6.5.4.3.2 Market size and forecast, by Application
6.5.4.4 Rest of LAMEA
6.5.4.4.1 Market size and forecast, by Production Method
6.5.4.4.2 Market size and forecast, by Application
CHAPTER 7: COMPANY LANDSCAPE
7.1. Introduction
7.2. Top winning strategies
7.3. Product Mapping of Top 10 Player
7.4. Competitive Dashboard
7.5. Competitive Heatmap
7.6. Key developments
CHAPTER 8: COMPANY PROFILES
8.1 Hyosung Corporation
8.1.1 Company overview
8.1.2 Company snapshot
8.1.3 Operating business segments
8.1.4 Product portfolio
8.1.5 Business performance
8.1.6 Key strategic moves and developments
8.2 invista
8.2.1 Company overview
8.2.2 Company snapshot
8.2.3 Operating business segments
8.2.4 Product portfolio
8.2.5 Business performance
8.2.6 Key strategic moves and developments
8.3 Asahi Kasei Corporation
8.3.1 Company overview
8.3.2 Company snapshot
8.3.3 Operating business segments
8.3.4 Product portfolio
8.3.5 Business performance
8.3.6 Key strategic moves and developments
8.4 Toray Industries, Inc.
8.4.1 Company overview
8.4.2 Company snapshot
8.4.3 Operating business segments
8.4.4 Product portfolio
8.4.5 Business performance
8.4.6 Key strategic moves and developments
8.5 Indorama Industries Ltd.
8.5.1 Company overview
8.5.2 Company snapshot
8.5.3 Operating business segments
8.5.4 Product portfolio
8.5.5 Business performance
8.5.6 Key strategic moves and developments
8.6 TK Chemical Corporation
8.6.1 Company overview
8.6.2 Company snapshot
8.6.3 Operating business segments
8.6.4 Product portfolio
8.6.5 Business performance
8.6.6 Key strategic moves and developments
8.7 Zhejiang Huafon Spandex Co. Ltd.
8.7.1 Company overview
8.7.2 Company snapshot
8.7.3 Operating business segments
8.7.4 Product portfolio
8.7.5 Business performance
8.7.6 Key strategic moves and developments
8.8 Xiamen Lilong Spandex Co., Ltd.
8.8.1 Company overview
8.8.2 Company snapshot
8.8.3 Operating business segments
8.8.4 Product portfolio
8.8.5 Business performance
8.8.6 Key strategic moves and developments
8.9 Yantai Spandex Co., Ltd.
8.9.1 Company overview
8.9.2 Company snapshot
8.9.3 Operating business segments
8.9.4 Product portfolio
8.9.5 Business performance
8.9.6 Key strategic moves and developments
8.10 Taekwang Industrial Co. Ltd.
8.10.1 Company overview
8.10.2 Company snapshot
8.10.3 Operating business segments
8.10.4 Product portfolio
8.10.5 Business performance
8.10.6 Key strategic moves and developments
LIST OF TABLES
Table 1. Global Spandex Fiber Market, by Production Method, 2020-2030, ($Million)
Table 2. Spandex Fiber Market Revenue, for Solution Dry Spinning, by Region, 2020-2030, ($Million)
Table 3. Spandex Fiber Market Solution Dry Spinning by Country, 2020-2030, ($Million)
Table 4. Spandex Fiber Market Revenue, for Solution Wet Spinning, by Region, 2020-2030, ($Million)
Table 5. Spandex Fiber Market Solution Wet Spinning by Country, 2020-2030, ($Million)
Table 6. Spandex Fiber Market Revenue, for Others, by Region, 2020-2030, ($Million)
Table 7. Spandex Fiber Market Others by Country, 2020-2030, ($Million)
Table 8. Global Spandex Fiber Market, by Application, 2020-2030, ($Million)
Table 9. Spandex Fiber Market Revenue, for Apparel and Clothing, by Region, 2020-2030, ($Million)
Table 10. Spandex Fiber Market Apparel and Clothing by Country, 2020-2030, ($Million)
Table 11. Spandex Fiber Market Revenue, for Home Furnishing, by Region, 2020-2030, ($Million)
Table 12. Spandex Fiber Market Home Furnishing by Country, 2020-2030, ($Million)
Table 13. Spandex Fiber Market Revenue, for Others, by Region, 2020-2030, ($Million)
Table 14. Spandex Fiber Market Others by Country, 2020-2030, ($Million)
Table 15. Spandex Fiber Market, by Region, 2020-2030, ($Million)
Table 16. North America Spandex Fiber Market, by Production Method, 2020-2030, ($Million)
Table 17. North America Spandex Fiber Market, by Application, 2020-2030, ($Million)
Table 18. North America Spandex Fiber Market, by Country, 2020-2030, ($Million)
Table 19. U.S. Spandex Fiber Market by Production Method 2020-2030, ($Million)
Table 20. U.S. Spandex Fiber Market by Application 2020-2030, ($Million)
Table 21. Canada Spandex Fiber Market by Production Method 2020-2030, ($Million)
Table 22. Canada Spandex Fiber Market by Application 2020-2030, ($Million)
Table 23. Mexico Spandex Fiber Market by Production Method 2020-2030, ($Million)
Table 24. Mexico Spandex Fiber Market by Application 2020-2030, ($Million)
Table 25. Europe Spandex Fiber Market, by Production Method, 2020-2030, ($Million)
Table 26. Europe Spandex Fiber Market, by Application, 2020-2030, ($Million)
Table 27. Europe Spandex Fiber Market, by Country, 2020-2030, ($Million)
Table 28. France Spandex Fiber Market by Production Method 2020-2030, ($Million)
Table 29. France Spandex Fiber Market by Application 2020-2030, ($Million)
Table 30. Germany Spandex Fiber Market by Production Method 2020-2030, ($Million)
Table 31. Germany Spandex Fiber Market by Application 2020-2030, ($Million)
Table 32. Italy Spandex Fiber Market by Production Method 2020-2030, ($Million)
Table 33. Italy Spandex Fiber Market by Application 2020-2030, ($Million)
Table 34. U.K. Spandex Fiber Market by Production Method 2020-2030, ($Million)
Table 35. U.K. Spandex Fiber Market by Application 2020-2030, ($Million)
Table 36. Netherlands Spandex Fiber Market by Production Method 2020-2030, ($Million)
Table 37. Netherlands Spandex Fiber Market by Application 2020-2030, ($Million)
Table 38. Rest of Europe Spandex Fiber Market by Production Method 2020-2030, ($Million)
Table 39. Rest of Europe Spandex Fiber Market by Application 2020-2030, ($Million)
Table 40. Asia-Pacific Spandex Fiber Market, by Production Method, 2020-2030, ($Million)
Table 41. Asia-Pacific Spandex Fiber Market, by Application, 2020-2030, ($Million)
Table 42. Asia-Pacific Spandex Fiber Market, by Country, 2020-2030, ($Million)
Table 43. China Spandex Fiber Market by Production Method 2020-2030, ($Million)
Table 44. China Spandex Fiber Market by Application 2020-2030, ($Million)
Table 45. Japan Spandex Fiber Market by Production Method 2020-2030, ($Million)
Table 46. Japan Spandex Fiber Market by Application 2020-2030, ($Million)
Table 47. India Spandex Fiber Market by Production Method 2020-2030, ($Million)
Table 48. India Spandex Fiber Market by Application 2020-2030, ($Million)
Table 49. South Korea Spandex Fiber Market by Production Method 2020-2030, ($Million)
Table 50. South Korea Spandex Fiber Market by Application 2020-2030, ($Million)
Table 51. Rest of Asia-Pacific Spandex Fiber Market by Production Method 2020-2030, ($Million)
Table 52. Rest of Asia-Pacific Spandex Fiber Market by Application 2020-2030, ($Million)
Table 53. LAMEA Spandex Fiber Market, by Production Method, 2020-2030, ($Million)
Table 54. LAMEA Spandex Fiber Market, by Application, 2020-2030, ($Million)
Table 55. LAMEA Spandex Fiber Market, by Country, 2020-2030, ($Million)
Table 56. Brazil Spandex Fiber Market by Production Method 2020-2030, ($Million)
Table 57. Brazil Spandex Fiber Market by Application 2020-2030, ($Million)
Table 58. Argentina Spandex Fiber Market by Production Method 2020-2030, ($Million)
Table 59. Argentina Spandex Fiber Market by Application 2020-2030, ($Million)
Table 60. South Africa Spandex Fiber Market by Production Method 2020-2030, ($Million)
Table 61. South Africa Spandex Fiber Market by Application 2020-2030, ($Million)
Table 62. Rest of LAMEA Spandex Fiber Market by Production Method 2020-2030, ($Million)
Table 63. Rest of LAMEA Spandex Fiber Market by Application 2020-2030, ($Million)
Table 64. Hyosung Corporation: Company Snapshot
Table 65. Hyosung Corporation: Operating Segments
Table 66. Hyosung Corporation: Product Portfolio
Table 67. Hyosung Corporation: Net Sales
Table 68. Hyosung Corporation: Key Stratergies
Table 69. Invista: Company Snapshot
Table 70. Invista: Operating Segments
Table 71. Invista: Product Portfolio
Table 72. Invista: Net Sales
Table 73. Invista: Key Stratergies
Table 74. Asahi Kasei Corporation: Company Snapshot
Table 75. Asahi Kasei Corporation: Operating Segments
Table 76. Asahi Kasei Corporation: Product Portfolio
Table 77. Asahi Kasei Corporation: Net Sales
Table 78. Asahi Kasei Corporation: Key Stratergies
Table 79. Toray Industries, Inc.: Company Snapshot
Table 80. Toray Industries, Inc.: Operating Segments
Table 81. Toray Industries, Inc.: Product Portfolio
Table 82. Toray Industries, Inc.: Net Sales
Table 83. Toray Industries, Inc.: Key Stratergies
Table 84. Indorama Industries Ltd.: Company Snapshot
Table 85. Indorama Industries Ltd.: Operating Segments
Table 86. Indorama Industries Ltd.: Product Portfolio
Table 87. Indorama Industries Ltd.: Net Sales
Table 88. Indorama Industries Ltd.: Key Stratergies
Table 89. Tk Chemical Corporation: Company Snapshot
Table 90. Tk Chemical Corporation: Operating Segments
Table 91. Tk Chemical Corporation: Product Portfolio
Table 92. Tk Chemical Corporation: Net Sales
Table 93. Tk Chemical Corporation: Key Stratergies
Table 94. Zhejiang Huafon Spandex Co. Ltd.: Company Snapshot
Table 95. Zhejiang Huafon Spandex Co. Ltd.: Operating Segments
Table 96. Zhejiang Huafon Spandex Co. Ltd.: Product Portfolio
Table 97. Zhejiang Huafon Spandex Co. Ltd.: Net Sales
Table 98. Zhejiang Huafon Spandex Co. Ltd.: Key Stratergies
Table 99. Xiamen Lilong Spandex Co., Ltd.: Company Snapshot
Table 100. Xiamen Lilong Spandex Co., Ltd.: Operating Segments
Table 101. Xiamen Lilong Spandex Co., Ltd.: Product Portfolio
Table 102. Xiamen Lilong Spandex Co., Ltd.: Net Sales
Table 103. Xiamen Lilong Spandex Co., Ltd.: Key Stratergies
Table 104. Yantai Spandex Co., Ltd.: Company Snapshot
Table 105. Yantai Spandex Co., Ltd.: Operating Segments
Table 106. Yantai Spandex Co., Ltd.: Product Portfolio
Table 107. Yantai Spandex Co., Ltd.: Net Sales
Table 108. Yantai Spandex Co., Ltd.: Key Stratergies
Table 109. Taekwang Industrial Co. Ltd.: Company Snapshot
Table 110. Taekwang Industrial Co. Ltd.: Operating Segments
Table 111. Taekwang Industrial Co. Ltd.: Product Portfolio
Table 112. Taekwang Industrial Co. Ltd.: Net Sales
Table 113. Taekwang Industrial Co. Ltd.: Key Stratergies
LIST OF FIGURES
Figure 1. Spandex Fiber Market Segmentation
Figure 2. Spandex Fiber Market, 2020-2030
Figure 3. Spandex Fiber Market, 2020-2030
Figure 4. Top Investment Pockets, by Region
Figure 5. Porter Five-1
Figure 6. Porter Five-2
Figure 7. Porter Five-3
Figure 8. Porter Five-4
Figure 9. Porter Five-5
Figure 10. Top Player Positioning
Figure 11. Spandex Fiber Market:Drivers, Restraints and Opportunities
Figure 12. Value Chain Analysis
Figure 13. Spandex Fiber Market, by Production Method, 2020 (%)
Figure 14. Comparative Share Analysis of Solution Dry Spinning Spandex Fiber Market, 2020-2030 (%)
Figure 15. Comparative Share Analysis of Solution Wet Spinning Spandex Fiber Market, 2020-2030 (%)
Figure 16. Comparative Share Analysis of Others Spandex Fiber Market, 2020-2030 (%)
Figure 17. Spandex Fiber Market, by Application, 2020 (%)
Figure 18. Comparative Share Analysis of Apparel and Clothing Spandex Fiber Market, 2020-2030 (%)
Figure 19. Comparative Share Analysis of Home Furnishing Spandex Fiber Market, 2020-2030 (%)
Figure 20. Comparative Share Analysis of Others Spandex Fiber Market, 2020-2030 (%)
Figure 21. Spandex Fiber Market by Region, 2020
Figure 22. U.S. Spandex Fiber Market, 2020-2030 ($Million)
Figure 23. Canada Spandex Fiber Market, 2020-2030 ($Million)
Figure 24. Mexico Spandex Fiber Market, 2020-2030 ($Million)
Figure 25. France Spandex Fiber Market, 2020-2030 ($Million)
Figure 26. Germany Spandex Fiber Market, 2020-2030 ($Million)
Figure 27. Italy Spandex Fiber Market, 2020-2030 ($Million)
Figure 28. U.K. Spandex Fiber Market, 2020-2030 ($Million)
Figure 29. Netherlands Spandex Fiber Market, 2020-2030 ($Million)
Figure 30. Rest of Europe Spandex Fiber Market, 2020-2030 ($Million)
Figure 31. China Spandex Fiber Market, 2020-2030 ($Million)
Figure 32. Japan Spandex Fiber Market, 2020-2030 ($Million)
Figure 33. India Spandex Fiber Market, 2020-2030 ($Million)
Figure 34. South Korea Spandex Fiber Market, 2020-2030 ($Million)
Figure 35. Rest of Asia-Pacific Spandex Fiber Market, 2020-2030 ($Million)
Figure 36. Brazil Spandex Fiber Market, 2020-2030 ($Million)
Figure 37. Argentina Spandex Fiber Market, 2020-2030 ($Million)
Figure 38. South Africa Spandex Fiber Market, 2020-2030 ($Million)
Figure 39. Rest of LAMEA Spandex Fiber Market, 2020-2030 ($Million)
Figure 40. Top Winning Strategies, by Year
Figure 41. Top Winning Strategies, by Development
Figure 42. Top Winning Strategies, by Company
Figure 43. Product Mapping of Top 10 Players
Figure 44. Competitive Dashboard
Figure 45. Competitive Heatmap of Top 10 Key Players
Figure 46. Hyosung Corporation.: Net Sales, ($Million)
Figure 47. Invista.: Net Sales, ($Million)
Figure 48. Asahi Kasei Corporation.: Net Sales, ($Million)
Figure 49. Toray Industries, Inc. Net Sales, ($Million)
Figure 50. Indorama Industries Ltd. Net Sales, ($Million)
Figure 51. Tk Chemical Corporation.: Net Sales, ($Million)
Figure 52. Zhejiang Huafon Spandex Co. Ltd. Net Sales, ($Million)
Figure 53. Xiamen Lilong Spandex Co. Ltd. Net Sales, ($Million)
Figure 54. Yantai Spandex Co. Ltd. Net Sales, ($Million)
Figure 55. Taekwang Industrial Co. Ltd. Net Sales, ($Million)

Executive Summary

According to this report titled, 'Spandex Fiber Market,' the spandex fiber market was valued at $8.4 billion in 2020, and is estimated to reach $16.9 billion by 2030, growing at a CAGR of 7.31% from 2021 to 2030.

The global spandex fiber market is significantly expanding, owing to increase in demand for spandex fiber from automotive and transportation industries to manufacture parts, including automotive door panels, car seat covers, and automotive films. Spandex fiber is higher quality, lighter, suppler, and more adaptable than rubber. Increase in use of spandex as an alternative to natural and synthetic rubber in industrial applications is driving market growth. It is does not absorb water therefore, is used in industrial protective clothing. In addition, various vehicle safety measures and stringent government regulations to promote provision of seat belts and airbags are driving market growth, as spandex fiber is used in the production of seat belts and airbags. In addition, increase in use of spandex fiber in the medical field support the growth of the spandex fiber market, as it is used in compression bandages, baby diapers, surgical gloves, and drapes. For instance, in 2019, the government of Malaysia and Australia allocated 7 billion and 5 billion respectively to support health and medical research. The increasing healthcare investments in various regions of Asia-Pacific lead to increase in demand for healthcare apparel, which further increase the demand for spandex fibers in the market.

The raw materials derived from crude oil are often used for manufacturing spandex fibers. Therefore, price fluctuation of crude oil prices hinders growth of the spandex fibers market. The geopolitical issues between the countries like the U.S., Iran, Iraq, Russia, and Saudi Arabia impacted the crude oil prices. For instance, in the beginning of 2020, demand for oil drastically declined following lockdowns and travel restrictions, due to pandemic. For instance, in April 2020, crude oil prices traded at3/bbl., whereas, the U.S. oil prices dropped below zero. Thus, volatility in crude oil prices is expected to be a significant challenge for the spandex fiber manufacturers during the forecast period. Increase in alternative products, due to rapid innovation and on-going major investments by the top market players and emerging market entrants hinder the development of spandex fiber market.

Owing to rise in the affluent population, changing lifestyle and the demand for comfortable life led to rise in demand for spandex fibers in variety of products, including automotive industry and healthcare industry. Furthermore, following a healthy lifestyle is anticipated to increase participation in sports activities, which, in turn, promote the demand for comfortable sportswear. Spandex has superior stretching property that prevents the wearer’s movements, which boosts its demand in sportswear. These advantages along with increase in demand for sportswear in various activities is expected to provide ample opportunities for the growth of the market.

The global spandex fiber industry is segmented on the basis of type of production method, application, and region.

Depending on the type of production method, the market is segmented into solution dry spinning, solution wet spinning, and others. According to application, it is categorized into apparel & clothing, home furnishing, and others. The apparel & clothing segment accounted for the highest market share, owing to increase in utilization of spandex fiber products in various clothes and major sport equipment. Region wise, it is analyzed across North America, Europe, Asia-Pacific and LAMEA. Asia-Pacific is leading region in terms of demand for spandex fiber, and is expected to maintain its dominance during the forecast period. The high adoption of spandex fiber products in the region continue to boost the growth of spandex fiber market size, due to huge population base and presence of many developing countries in this region.

The key players operating in the global spandex fiber market are 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.

Other players in the value chain include Xinxiang Bailu Chemical Fibre Group Co. Ltd., Baoding Swan Spandex Co., Ltd., Spandex Corporation Ltd., Jiangsu Shuangliang Spandex Co., Ltd., Highsun Group, and Yantai Tayho Advanced materials Co. Ltd., etc. are competing for the spandex fiber market share through product launch, joint venture, partnership, and expanding the production capabilities to meet the future demand for the Spandex Fiber market in the forecast period.

IMPACT OF COVID-19 ON THE GLOBAL SPANDEX FIBER MARKET

  • Emergence of COVID-19 minimally impacted the growth of the global spandex fiber market during the pandemic.
  • This impact is mostly attributed to significant disruptions in raw material transportation, and less availability of labor, which ceased the manufacturing industries led to decline in demand for spandex fiber during the pandemic.
  • Decrease in demand for many non-essential products and ceased construction negatively impacted the growth of global spandex fiber market.
  • Thus, aforementioned factors negatively impacted the global spandex fiber market growth during the pandemic period.

Key findings of the Study

  • By region, Asia-Pacific accounted for the largest market share in 2020.
  • Depending on type of production method, solution dry spinning segment holds the largest market share in 2020.
  • According to application, apparel & clothing segment holds the largest market share in 2020.

Companies Mentioned

  • 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.
  • Taekwang Industrial Co. Ltd.

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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Table Information

Report AttributeDetails
No. of Pages246
PublishedMarch 2022
Forecast Period2020 - 2030
Estimated Market Value ( USD ) in 2020 $ 8.36 billion
Forecasted Market Value ( USD ) by 2030 $ 16.87 billion
Compound Annual Growth Rate7.3%
Regions CoveredGlobal
No. of Companies Mentioned10

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