Spandex Market was accounted for US$ 7,150.4 Mn by the end of 2019, witnessing a CAGR of 10.3% during the forecast period
Spandex is a synthetic fabric that has exceptional elastic properties. It is produced by using PTMEG and MDI as the chemical reactants. It is widely used in the creation of bras, skin-tight garments, gloves, gym wear, slacks, and swimwear. Moreover, spandex is also used in the production of orthopedic braces and surgical hoses as it is more durable and stronger.
Market Dynamics
Robust growth in the apparel & clothing industry is augmenting the market growth of the spandex. Growing demand for intimate wear, sportswear, compression garments, etc. coupled with the emergence of a new application of spandex in denim is again expected to foster market growth. The Indian textiles and apparel market was estimated at US$ 100 billion in 2019. India is the world's second-largest exporter of textiles and clothing and is expected to increase to US$ 82.00 billion by 2021 from US$ 22.95 billion in 2020.
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Global Spandex Market, By Fabric Type:
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Two-way
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Four-way
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Global Spandex Market, By Application:
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Clothing
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Medical
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Global Spandex Market, By Process:
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Knitting
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Weaving
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Yarn Covering
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Major Keyplayers: INVISTA, Asahi Kasei Corporation, Hyosung Corporation, Zhejiang Huafon Spandex Co. Ltd.,Yantai Tayho Advanced Materials Co. Ltd., Indorama Industries Ltd, TK Chemical Corp., Taekwang Industrial Co., Ltd, Jiangsu Shaungliang Spandex Co., Ltd., Xiamen Lilong Spandex Co. Ltd
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