The global Spandex Market is expected to see growth in the market during the forecast period 2022 to 2029. Data Bridge Market Research analyzed that the market will grow at a CAGR of 5.9% during the forecast period 2022-2029 and is expected to reach $8,642,865.12K in 2029. Rising up The demand for sportswear and activewear is a key driver of the global spandex market.
Spandex fiber, also known as Lycra or Elastane, is a long-chain polyurethane-polyurea copolymer consisting of flexible macroglycol segments and rigid diisocyanate segments arranged in a specific order. Fibers are characterized by their outstanding elastic and regenerating properties.
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Spandex Market Scenario
According to Bridge Market Research Data, the spandex market has the highest market share in Asia Pacific. The market leader is Huafon Chemical Co., Ltd., which accounts for about 23.03% of the global spandex market. The company has achieved outstanding sales through the development of innovative products for various industries.
The rapidly growing population combined with rising consumer incomes are expected to drive demand for sportswear and activewear, leading to growth in the global spandex market.
Trends Impacting the Market
The global spandex market is getting more competitive every year with companies like Huafon Chemical Co., Ltd., HYOSUNG TNC, Asahi Kasei Corporation as they are the market leaders in spandex. The Data Bridge Market research report highlights key growth factors and opportunities in the global Spandex Market.
Spandex Market Development
In December 2021, ZOLL Medical Corporation (ZOLL), Asahi Kasei, acquired Itamar Medical Ltd. (Itamar Medical), an Israeli medical device manufacturer. ZOLL subsidiary Asahi Kasei is focused on Itamar Medical's business continuity while leveraging ZOLL's global infrastructure and strong brand to accelerate and expand growth.
Key Pointers Covered in Global Spandex Market Industry Trends and Forecast to 2029
· Market Size
· Market Standards and Changes
· Market Trials in Different Regions
· Market Requirements in Different Regions
· Market Shares in Different Regions
· Recent Developments for Market Competitors
· Recent Market Value for Different regions
· Sales Data for Market Competitors
· Key Vendors and Disruptors Study
· Supply Chain Competiveness
Key Market Competitors Covered in the Spandex Market Report
· Huafon Chemical Co., Ltd.
· HYOSUNG TNC
· Yantai Tayho Advanced Materials Co.,Ltd
· TAKEWANG INDUSTRIAL CO.,LTD.
· Xiamen Lilong Spandex Co., Ltd.
· TK CHEMICAL CORPORATION
· Asahi Kasei Corporation.
· Xinxiang Sunshining Ecotex Clothes Co.,Ltd
· Mitsubishi Chemical Corporation
· Jiangsu Shuangliang spandex Co., Ltd
· Indorama Corporation
· TORAY INDUSTRIES, INC.
Spandex Market Scope and Market Size
The global spandex market is segmented into two segments based on technology and applications. Segment growth helps you analyze growth niches and market approach strategies, and to identify your key application areas and differences within your target market.
Based on technology, the global spandex market is segmented into dry spinning, wet spinning and other solutions. By 2022, dry spinning solutions are expected to dominate the global spandex market due to their high spinning speed and greater ease and flexibility in implementing dry spinning processes.
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Major TOC of Spandex Market Forecast
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