Spandex Fiber Market by Application and Geography - Forecast and Analysis 2022-2026
| Published: Jun 2022 | Pages: 128 | SKU: IRTNTR73798 |
Spandex Fiber Market Report 2023-2027
The spandex fiber market share is expected to increase to USD 3.50 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 7.1%.
This spandex fiber market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers spandex fiber market segmentation by application (apparel and clothing, medical, and others) and geography (APAC, North America, Europe, South America, and Middle East and Africa).
What will the Spandex Fiber Market Size be During the Forecast Period?
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Spandex Fiber Market: Key Drivers, Trends, and Challenges
Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the spandex fiber industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Spandex Fiber Market Driver
The increasing usage in the automotive industry is one of the key drivers supporting the spandex fiber market growth. The spandex fiber is increasingly used as a substitute for natural and synthetic rubber in industrial applications and is superior to rubber in terms of quality, lightness, suppleness, and adaptability. Furthermore, the growing demand for spandex fibers in the automotive and transportation industries for items such as automobile door panels, car seat covers, and vehicle wraps is propelling the market growth. Moreover, various in-vehicle safety measures, as well as rising government rules pushing the use of seat belts and airbags, are also expected to propel the spandex fiber market growth during the forecast period.
Key Spandex Fiber Market Trends
The growing use of spandex fiber in swimming and sports clothing is one of the key spandex fiber market trends contributing to the market growth. With the increasing population and changing lifestyles, sports gear has been gaining popularity in emerging markets of sportswear. Nowadays, people are becoming more conscious regarding their health, which is increasing their involvement in sporting activities, which will enhance the demand for comfortable sportswear. Furthermore, various government efforts for youth engagement in sports, such as the National Sports Talent Contest Scheme in India and the National Youth Sports Strategy in the US, are fueling the demand for spandex fiber in sportswear such as jackets and gloves. Hence the market in focus is expected to grow during the forecast period.
Key Spandex Fiber Market Challenge
Spandex fiber can trigger skin allergies is one of the factors hampering the spandex fiber market growth. Wearing spandex on a regular basis can make one more susceptible to skin allergies because it does not absorb sweat and moisture is retained, allowing allergens to penetrate deeper into the skin. When a person sweats while wearing spandex, chemicals from the dyes and formaldehyde used on the fabric may be released into the skin, causing allergies. For instance, spandex underwear does not allow the skin to breathe, which can make a person more susceptible to yeast infections. Candida albicans fungus, which causes vaginal yeast infections, reproduces very quickly since the fiber cannot absorb moisture or sweat. Hence, these infections can hinder the growth of the spandex fiber market in focus during the forecast period.
This spandex fiber market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Which are the Key Regions for Spandex Fiber Market?
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41% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for the spandex fiber market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The growing popularity of sports and fitness activities will facilitate the spandex fiber market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The COVID-19 outbreak had a negative impact on the demand for non-essential products, such as sports textiles, which had a negative impact on the regional market. However, owing to the initiation of vaccination drives in 2021 in the region and a decline in the number of COVID-19 cases, a significant rise in the business operations of spandex fiber manufacturing companies, redesigned supply chains for spandex fibers, and the resumption of offline distribution channels are expected to contribute to the growth of the regional spandex fiber market during the forecast period.
What are the Revenue-generating Application Segments in the Spandex Fiber Market?
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The spandex fiber market share growth by the apparel and clothing segment will be significant during the forecast period. Garments made of spandex fiber are becoming more popular and consumers are drawn toward the fiber since it is made of renewable butanediol, which is obtained from corn. Moreover, spandex fiber is majorly used in the apparel and clothing industry because of its flexibility. The apparel and clothing industry is growing due to the rising demand for activewear and sportswear for competitive water-related activities. Such growth in the apparel and clothing industry will drive the spandex fiber market growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the spandex fiber market size and actionable market insights on post COVID-19 impact on each segment.
Product Insights and News
- Asahi-kasei.co.jp - The company offers spandex fiber that is used in a broad array of fields with superior elastic stretch and recovery properties.
- Basf.com - The company offers spandex fiber that is used for highly abrasion-resistant and flexible hoses, films, and cable sheathing.
- Hyosung.com - The company offers spandex fiber with excellent dyeability and color fastness in blends with nylon.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The spandex fiber market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Spandex Fiber Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the spandex fiber market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
Who are the Major Spandex Fiber Market Vendors?
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- Asahi Kasei Corp.
- BASF SE
- Highsun Holding Group
- Hyosung Corp.
- Indorama Corp.
- LDZ New Aoshen Spandex Co. Ltd.
- PT. FILLATTICE Indah Industry
- Taekwang Industrial Co. Ltd.
- Teijin Ltd.
- TK Chemical Corp.
- Toray Industries Inc.
- Xiamen Lilong Spandex Co. Ltd.
- Yantai Tayho Advanced Materials Co. Ltd.
- Zhejiang Huafon New Materials Co. Ltd.
This statistical study of the spandex fiber market encompasses successful business strategies deployed by the key vendors. The spandex fiber market is concentrated and the vendors are deploying organic and inorganic growth strategies to compete in the market.
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Spandex Fiber Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.1% |
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Market growth 2022-2026 |
USD 3.50 billion |
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Market structure |
Concentrated |
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YoY growth (%) |
6.1 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 41% |
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Key consumer countries |
US, Canada, China, India, and Germany |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Asahi Kasei Corp., BASF SE, Highsun Holding Group, Hyosung Corp., Indorama Corp., LDZ New Aoshen Spandex Co. Ltd., PT. FILLATTICE Indah Industry, Taekwang Industrial Co. Ltd., Teijin Ltd., TK Chemical Corp., Toray Industries Inc., Xiamen Lilong Spandex Co. Ltd., Yantai Tayho Advanced Materials Co. Ltd., and Zhejiang Huafon New Materials Co. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Spandex Fiber Market Report?
- CAGR of the market during the forecast period 2022-2026
- Detailed information on factors that will drive spandex fiber market growth during the next five years
- Precise estimation of the spandex fiber market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the spandex fiber industry across APAC, North America, Europe, South America, and Middle East and Africa
- A thorough analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of spandex fiber market vendors
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 12: Market segments
- 3.3 Market size 2021
- 3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
- 4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
- 4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
- 4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
- 4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
- 4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
- 4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026
5 Market Segmentation by Application
- 5.1 Market segments
- Exhibit 24: Chart on Application - Market share 2021-2026 (%)
- Exhibit 25: Data Table on Application - Market share 2021-2026 (%)
- 5.2 Comparison by Application
- Exhibit 26: Chart on Comparison by Application
- Exhibit 27: Data Table on Comparison by Application
- 5.3 Apparel and clothing - Market size and forecast 2021-2026
- Exhibit 28: Chart on Apparel and clothing - Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on Apparel and clothing - Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on Apparel and clothing - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Apparel and clothing - Year-over-year growth 2021-2026 (%)
- 5.4 Medical - Market size and forecast 2021-2026
- Exhibit 32: Chart on Medical - Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on Medical - Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on Medical - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Medical - Year-over-year growth 2021-2026 (%)
- 5.5 Others - Market size and forecast 2021-2026
- Exhibit 36: Chart on Others - Market size and forecast 2021-2026 ($ million)
- Exhibit 37: Data Table on Others - Market size and forecast 2021-2026 ($ million)
- Exhibit 38: Chart on Others - Year-over-year growth 2021-2026 (%)
- Exhibit 39: Data Table on Others - Year-over-year growth 2021-2026 (%)
- 5.6 Market opportunity by Application
- Exhibit 40: Market opportunity by Application ($ million)
6 Customer Landscape
- 6.1 Customer landscape overview
- Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 42: Chart on Market share by geography 2021-2026 (%)
- Exhibit 43: Data Table on Market share by geography 2021-2026 (%)
- 7.2 Geographic comparison
- Exhibit 44: Chart on Geographic comparison
- Exhibit 45: Data Table on Geographic comparison
- 7.3 APAC - Market size and forecast 2021-2026
- Exhibit 46: Chart on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 47: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 48: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 49: Data Table on APAC - Year-over-year growth 2021-2026 (%)
- 7.4 North America - Market size and forecast 2021-2026
- Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)
- 7.5 Europe - Market size and forecast 2021-2026
- Exhibit 54: Chart on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on Europe - Year-over-year growth 2021-2026 (%)
- 7.6 South America - Market size and forecast 2021-2026
- Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)
- 7.7 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 62: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- 7.8 US - Market size and forecast 2021-2026
- Exhibit 66: Chart on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)
- 7.9 China - Market size and forecast 2021-2026
- Exhibit 70: Chart on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on China - Year-over-year growth 2021-2026 (%)
- 7.10 Germany - Market size and forecast 2021-2026
- Exhibit 74: Chart on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on Germany - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on Germany - Year-over-year growth 2021-2026 (%)
- 7.11 India - Market size and forecast 2021-2026
- Exhibit 78: Chart on India - Market size and forecast 2021-2026 ($ million)
- Exhibit 79: Data Table on India - Market size and forecast 2021-2026 ($ million)
- Exhibit 80: Chart on India - Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on India - Year-over-year growth 2021-2026 (%)
- 7.12 Canada - Market size and forecast 2021-2026
- Exhibit 82: Chart on Canada - Market size and forecast 2021-2026 ($ million)
- Exhibit 83: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
- Exhibit 84: Chart on Canada - Year-over-year growth 2021-2026 (%)
- Exhibit 85: Data Table on Canada - Year-over-year growth 2021-2026 (%)
- 7.13 Market opportunity by geography
- Exhibit 86: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- 8.3 Impact of drivers and challenges
- Exhibit 87: Impact of drivers and challenges in 2021 and 2026
- 8.4 Market trends
9 Vendor Landscape
- 9.1 Overview
- 9.2 Vendor landscape
- Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
- 9.3 Landscape disruption
- Exhibit 89: Overview on factors of disruption
- 9.4 Industry risks
- Exhibit 90: Impact of key risks on business
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 91: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 92: Matrix on vendor position and classification
- 10.3 Asahi Kasei Corp.
- Exhibit 93: Asahi Kasei Corp. - Overview
- Exhibit 94: Asahi Kasei Corp. - Business segments
- Exhibit 95: Asahi Kasei Corp. - Key offerings
- Exhibit 96: Asahi Kasei Corp. - Segment focus
- 10.4 BASF SE
- Exhibit 97: BASF SE - Overview
- Exhibit 98: BASF SE - Business segments
- Exhibit 99: BASF SE - Key news
- Exhibit 100: BASF SE - Key offerings
- Exhibit 101: BASF SE - Segment focus
- 10.5 Hyosung Corp.
- Exhibit 102: Hyosung Corp. - Overview
- Exhibit 103: Hyosung Corp. - Product / Service
- Exhibit 104: Hyosung Corp. - Key news
- Exhibit 105: Hyosung Corp. - Key offerings
- 10.6 Indorama Corp.
- Exhibit 106: Indorama Corp. - Overview
- Exhibit 107: Indorama Corp. - Product / Service
- Exhibit 108: Indorama Corp. - Key offerings
- 10.7 Taekwang Industrial Co. Ltd.
- Exhibit 109: Taekwang Industrial Co. Ltd. - Overview
- Exhibit 110: Taekwang Industrial Co. Ltd. - Product / Service
- Exhibit 111: Taekwang Industrial Co. Ltd. - Key offerings
- 10.8 Teijin Ltd.
- Exhibit 112: Teijin Ltd. - Overview
- Exhibit 113: Teijin Ltd. - Business segments
- Exhibit 114: Teijin Ltd. - Key offerings
- Exhibit 115: Teijin Ltd. - Segment focus
- 10.9 TK Chemical Corp.
- Exhibit 116: TK Chemical Corp. - Overview
- Exhibit 117: TK Chemical Corp. - Key offerings
- 10.10 Toray Industries Inc.
- Exhibit 118: Toray Industries Inc. - Overview
- Exhibit 119: Toray Industries Inc. - Business segments
- Exhibit 120: Toray Industries Inc. - Key news
- Exhibit 121: Toray Industries Inc. - Key offerings
- Exhibit 122: Toray Industries Inc. - Segment focus
- 10.11 Xiamen Lilong Spandex Co. Ltd.
- Exhibit 123: Xiamen Lilong Spandex Co. Ltd. - Overview
- Exhibit 124: Xiamen Lilong Spandex Co. Ltd. - Product / Service
- Exhibit 125: Xiamen Lilong Spandex Co. Ltd. - Key offerings
- 10.12 Zhejiang Huafon New Materials Co. Ltd.
- Exhibit 126: Zhejiang Huafon New Materials Co. Ltd. - Overview
- Exhibit 127: Zhejiang Huafon New Materials Co. Ltd. - Product / Service
- Exhibit 128: Zhejiang Huafon New Materials Co. Ltd. - Key offerings
11 Appendix
- 11.1 Scope of the report
- 11.2 Inclusions and exclusions checklist
- Exhibit 129: Inclusions checklist
- Exhibit 130: Exclusions checklist
- 11.3 Currency conversion rates for US$
- Exhibit 131: Currency conversion rates for US$
- 11.4 Research methodology
- Exhibit 132: Research methodology
- Exhibit 133: Validation techniques employed for market sizing
- Exhibit 134: Information sources
- 11.5 List of abbreviations
- Exhibit 135: List of abbreviations
- o
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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spandex fiber market market
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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