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the global Market in terms of value, during the forecast period 2021
According to the U.S Federal Trade Commission (FTC), Spandex is a manufactured fiber in
which the fiber-forming substance is a long-chain synthetic polymer comprising at least 85%
of segmented polyurethane. This fiber, also called elastane, is a synthetic long-chain
polyurethane-polyurea copolymer composed of rigid diisocyanate segments and flexible
macro-glycol segments arranged in a specific order. The fiber is characterized by exceptional
stretch and recovery properties, with the elongation at break of around 400% to 600%.
These characteristics entail its wide-scale use in a diverse set of applications in textile &
clothing and healthcare industries. Some prominent areas of application for spandex fibers
include sportswear, casual clothing, home furnishings, and undergarments. Medical and
healthcare-related applications of spandex fibers include diapers, compression stockings &
hoses, and bandages.
In the recent past, there has been a steady increase in demand for spandex-based
stretchable clothing & apparel in developing regions. Steadily rising population, coupled with
increasing disposable income, in these regions is expected to drive the growth of the global
spandex market over the forecast period. Besides, increasing demand from healthcarerelated applications is another major factor driving the growth of the global spandex market
during the forecast period. On the contrary, relatively slower economic growth in some
major clothing & apparel-importing countries is expected to act as a deterrent to the growth
of the global spandex market over the forecast period. Revenue from the global spandex
market is expected to increase from US$ 4,834.8 Mn in 2015 to US$ 8,704.6 Mn by 2021,
expanding at a CAGR of 10.3% over the forecast period.
In terms of market value, Asia-Pacific is expected to dominate the global spandex market
during the forecast period, whereas the Middle East & Africa, Latin America, Europe, and
North America are expected to account for a relatively smaller share in the global spandex
On the basis of application, the medical segment is slated to expand at a relatively faster
CAGR during the forecast period. Growth in this segment is primarily driven by increasing
demand for medial textiles & apparel and rising demand for diapers from certain regions. In
terms of market value, a medical segment is expected to expand at a CAGR of 10.8% over
the forecast period. In terms of overall market value, clothing segment is expected to
dominate the global spandex market throughout the forecast period.
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Hyosung Corporation, INVISTA, Asahi Kasei Corporation, and Zhejiang Huafon Spandex Co.
Ltd are leading players in the global Spandex market. Other players in the market include
Yantai Tayho Advanced Materials Co., Ltd, TK Chemical Corp., Taekwang Industrial Co. Ltd.,
Jiangsu Shaungliang Spandex Co., Ltd, Xiamen Lilong Spandex Co., Ltd, and Indorama
Industries Limited.
Sportswear
Home furnishing
Underwear
Medical Applications
Diapers
By Fabric Type:
Two-Way
Four-Way
By Process
Knitting
Weaving
Yarn covering
By Region
North America
Europe
APAC
Latin America
Market History:
According to the U.S Federal Trade Commission (FTC), Spandex is a manufactured fiber in which the
fiber-forming substance is a long chain synthetic polymer comprising at least 85% of segmented
polyurethane. This fiber, also known as elastane, is a synthetic long-chain polyurethane-polyurea
copolymer composed of rigid diisocyanate segments and flexible macro-glycol segments arranged in a
specific order. The fiber is characterized by exceptional stretch and recover properties with relatively
higher elongation at break values. These characteristics entail its wide-scale use across a diverse set of
applications in textile & clothing and healthcare industries. Some prominent areas of application for
spandex fibers include sportswear, casual clothing, home-furnishings, and undergarments. Medical and
healthcare-related applications of spandex fibers include diapers, compression stockings & hoses, and
bandages.
The global spandex market is expected to expand at a steady CAGR of 10.3% in terms of value over the
forecast period, to reach market value of US$ 8,704.6 Mn by 2021.
Demand for Spandex is influenced by a number of factors. Steadily increasing population, coupled with
an increase in disposable incomes, especially in developing regions and growing preference for and
subsequent adoption of spandex-based stretch clothing in these regions are expected to drive growth of
the global spandex market during the forecast period. Besides, increasing demand for use in activewear
and sportswear is another major factor expected to fuel growth of the spandex market over the forecast
period. Also, growth in demand from the healthcare sector, especially for use in diapers and compression
stockings & surgical hoses, is expected to drive growth of the spandex market throughout the forecast
period.
Persistence Market Research, in its report titled, Spandex Market: Global Industry Analysis and Forecast,
20152020, has segmented the global spandex market by application, fabric type, downstream process,
and region. On the basis of application, the market is segmented into clothing and medical. Clothing
segment is sub-segmented into sportswear, home furnishings, underwear, and other clothing. Medical
segment has been sub-segmented into diapers, compression stockings & hoses, and other medical
applications. On the basis of fabric type, the global spandex market has been segmented into two key
segments: two-way and four-way. On the basis of downstream process type, the market has been
segmented into knitting, weaving, and yarn covering. Finally, on the basis of region, the overall spandex
market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
Table of Content
1. Spandex market - Executive Summary
2. Research Methodology
3. Assumptions and Acronyms Used
4. Spandex market: Market Overview
4.1. Introduction
4.1.1. Spandex market: Market Definition
4.1.2. Spandex market: Market Taxonomy
4.2. Market Dynamics
4.2.1. Drivers
4.2.2. Restraints
4.2.3. Market Trends
4.3. Value Chain
4.4. Global Spandex Market Size Forecast, 2015-2021
4.4.1. Market Volume Forecast
4.4.2. Market Value Forecast
5. Global Spandex Market Analysis, by Application
5.1. Introduction
5.1.1. Y-o-Y growth comparison, by Application
5.1.2. Basis Point Share (BPS) Analysis, by Application
5.2. Market Forecast by Application
5.2.1. Clothing
5.2.1.1. Market Value & Volume Forecast
5.2.1.2. Absolute $ Opportunity
5.2.1.3. Y-o-Y Growth Projection & Basis Points Share Analysis, by application subsegment
5.2.1.3.1. Sportswear
5.2.1.3.2. Home Furnishing
5.2.1.3.3. Underwear
5.2.1.3.4. Other Clothing
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2014 ? 2021
Figure 24 Global Spandex Market Volume (metric tons) and Value (US$ Mn) by Weaving
Segment, 2014 ? 2021
Figure 25 Global Spandex Market Absolute $ Opportunity
2014 ? 2021
Figure 26 Global Spandex Market Volume (metric tons) and Value (US$ Mn) by Yarn Covering
Segment, 2014 ? 2021
Figure 27 Global Spandex Market Absolute $ Opportunity
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