Spandex Market

Spandex Market Outlook (2024 to 2034)

Revenue from the global spandex market size is set to reach US$ 10 billion in 2024. The market has been projected to climb to a value of US$ 21.9 billion by the end of 2034, expanding at a CAGR of 8.1% between 2024 and 2034.

Spandex is a synthetic fabric known for its elasticity. It is a general term for fabrics made of polyether-polyurea copolymers using a range of manufacturing techniques. Elastane, Lycra, and spandex are interchangeable terms. This fabric, which is typically used in form-fitting consumer clothing, can stretch up to five to eight times its original size. Tiny amounts of pure spandex are woven into other synthetic, semi-synthetic, or organic fibers rather than being utilized alone in clothing.

In a wide range of applications across the textile and apparel industries, spandex fibers are the most sought-after elastomeric fibers. Among the popular application areas of spandex are sportswear, casual wear, intimate wear, and various denim types. Their lightweight and flexible nature makes them suitable for use in sportswear and activewear applications, including swimsuits and exercise wear. Moreover, spandex fibers are gaining traction in the field of healthcare. They are also used in compression garments, including bandages, surgical hoses, and support hoses.

Key Market Growth Drivers

• Due to their lightweight and flexible nature, spandex fibers are suitable for use in sportswear and activewear applications, including swimsuits and exercise wear.
• Spandex fibers are finding applications in the medical field, particularly in compression garments like bandages and surgical hoses, contributing to the growth of the spandex market.
• Spandex is utilized in the production of socks to facilitate easier wearing and prevent slipping by ensuring a secure fit.
• Varying amounts of spandex are incorporated into socks to achieve the desired level of elasticity.
• Spandex plays a significant role in the production of incontinence products and diapers, with the diaper market projected to exhibit strong growth, especially in countries such as China and India.

Report Attribute	Detail
Market Size (2024E)	US$ 10 Billion
Forecasted Market Value (2034F)	US$ 21.9 Billion
Global Market Growth Rate (2024 to 2034)	8.1% CAGR
East Asia Market Share (2024E)	22.9%
North America Market Share (2024E)	17.1%
Sales of Four-Way Spandex (2024E)	US$ 4.4 Billion
Key Companies Profiled	INVISTA; Hyosung Corporation; Asahi Kasei Corporation; Taekwang Industrial Co. Ltd.; Yantai Tayho Advanced Materials Co., Ltd.; Xiamen Lilong Spandex Co., Ltd.; Jiangsu Shuangliang Spandex Co., Ltd.; Toray Industries; Xiamen Lilong Spandex Co., Ltd.; DuPont de Nemours, Inc.; LYCRA; Mitsubishi Chemical Engineering Corporation; Indorama Industries.

Which Spandex Market Trends are Manufacturers Leveraging?

“High Stretchability of Spandex Driving Use in Production of Socks”

Spandex is soft, lightweight, and impervious to dust. Spandex is an ideal fabric for producing a wide range of clothes and accessories due to its superior resistance to body oils, sweat, and abrasions. Given its high stretchability, spandex can expand up to 100 times its initial size, thus expanding spandex market size.

Spandex clothing is flexible and comfortable to wear. It is known that the material breathes, absorbs perspiration, and dries fast. Spandex is used in the production of clothing intended for physical activity because it keeps wearers comfortable during exercise and guards against injuries from pulling or stretching too much fabric. Blending spandex with other fibers, such as cotton, polyester, or nylon, can result in a variety of fabrics with distinct qualities.

Spandex fabric has a reputation for being strong and resilient; it retains its elasticity and strength even after being repeatedly stretched, cleaned, and worn. Spandex is also used in the manufacture of socks. It facilitates putting on and taking off the socks and keeps them from slipping down. Depending on the required degree of elasticity, different amounts of spandex are used in socks.

Petroleum feedstock is the source of the raw materials used in the commercial production of spandex fibers, specifically poly tetra-methylene ether glycol (PTMEG) and diphenylmethane diisocyanate (MDI). Raw material price fluctuations and the increasing focus on sustainability throughout the textile value chain are pushing spandex producers to direct their efforts toward creating eco-friendly, bio-based products.

What are the Hindrances to Spandex Market Growth?

“Availability of Lower-Cost Alternatives with Same Effectiveness”

Some of the substitutes for spandex fibers in stretch textiles and apparel applications are polybutylene terephthalate (PBT) and natural rubber latex (NRL). After spandex fiber, NRL is the elastomeric fiber that is used in stretch textile applications the most frequently. NRL has an advantage over spandex in that it can be used to reasonably achieve stretch properties and fit in fabric at a relatively low cost. Polybutylene terephthalate (PBT) is an alternative to spandex. Stretch textiles contain a significant amount of PBT. PBT provides an affordable substitute for spandex in stretch textile applications, much like NRL does.

Country-wise Insights

Spandex market size growth is being driven by the growing preference of consumers for stretch textiles in South Korea and Japan. Due to the substantial expansion of the manufacturing industry in developing nations such as China and India, the Asia Pacific region is set to account for a significant market share of 22.9% in 2024.

Availability of raw materials, cheap production costs, and growing foreign investments have made India a global leader in the textile manufacturing sector. Improvements in people's lifestyles are driving up local demand, and the healthcare sector has also seen significant advancements that have increased the country's consumption of spandex.

How is Adoption of Healthy Lifestyle Influencing Spandex Use in the United States?

“Market Benefitting from High Demand for Sportswear, Activewear, and Innerwear”

Attribute	United States
Market Value (2024E)	US$ 1.2 Billion
Growth Rate (2024 to 2034)	8.5% CAGR
Projected Value (2034F)	US$ 2.8 Billion

The United States accounts for 70.3% spandex market share in North America in 2024. Increasing demand for this fabric in the United States for use in sportswear, activewear, and innerwear is projected to influence market growth. Sales of spandex are projected to grow at a significant pace in the coming decade due to the growing appeal of various sports and leisure pursuits. Growing awareness of the significance of a healthy lifestyle, as well as rising production of clothing to support an active lifestyle in the United States is driving the use of spandex.

How is Demand for Spandex Shaping Up in China?

“Low-Cost Manufacturing and Processing and Rising Demand for Medical Textiles”

Attribute	China
Market Value (2024E)	US$ 1.2 Billion
Growth Rate (2024 to 2034)	9.5% CAGR
Projected Value (2034F)	US$ 3 Billion

Most of the world's spandex manufacturing plants are located in China.

China has a substantial lead in the East Asia market for spandex because of its growing manufacturing sector. The country's market expansion is being aided by multiple factors, including industrialization, population growth, rising demand for medical textiles, low-cost manufacturing and processing, and an increase in foreign investments.

Category-wise Insights

In terms of process, the market is divided into three segments: weaving, knitting, and covered yarn. Covered yarn is expected to hold a major share of the market. Throughout the forecast period, the segment is projected to maintain its dominant position in the global market due to its growing utilization in the textile industry.

Which Benefits of Four-way Spandex are Driving Its Widespread Preference?

“Greater Freedom of Movement and Capability to Stretch Lengthwise and Crosswise”

Attribute	Four-Way
Segment Value (2024E)	US$ 4.4 Billion
Growth Rate (2024 to 2034)	7.6% CAGR
Projected Value (2034F)	US$ 9.2 Billion

Four-way stretch fabric is used to create clothing that allows for greater freedom of movement. It is suitable for a variety of uses, including sportswear, leggings, and fitness pants. Usually, they are fitted to reduce resistance for the wearer without limiting their range of motion. It is possible to stretch this fabric both lengthwise and crosswise. Due to its high degree of elasticity, sportspersons can effectively use it. The demand for this fabric type from the textile industry is projected to rise at a significant pace over the forecast period.

Why Does the Clothing Segment Occupy a Leading Share of the Market?

“Expansion of Sportswear Market and Growing Demand for Medical Stretch Bandages”

Clothing occupies a substantial share of the market. Demand for spandex clothing is rising in developing nations. The expansion of the sportswear market and the apparel industry have both contributed to the sales of spandex. The demand for diapers has also increased significantly due to lifestyle upgrades.

Extensive use of spandex in compress and stretch bandages in the healthcare sector is projected to drive the growth of the segment in the coming years. The high elasticity, smoothness, and softness of spandex stimulate its use in the production of medical textiles.

Competition Analysis

Key players in the spandex market are INVISTA, Hyosung Corporation, Asahi Kasei Corporation, Taekwang Industrial Co. Ltd., Yantai Tayho Advanced Materials Co., Ltd., Xiamen Lilong Spandex Co., Ltd., Jiangsu Shuangliang Spandex Co., Ltd., Toray Industries, Xiamen Lilong Spandex Co., Ltd., DuPont de Nemours, Inc., LYCRA, Mitsubishi Chemical Engineering Corporation, and Indorama Industries.

• In April 2024, Hyosung, the largest producer of spandex fibers in the world, announced an investment of US$ 1 billion in a facility in Vietnam where sugar will be converted into 1,4-butanediol (BDO), a precursor to spandex that is normally produced from coal or natural gas, using Genomatica's fermentation technology. By 2026, Hyosung intends to produce 50,000 metric tons (mt) of biobased BDO annually, and by 2035, 200,000 mt. BDO is used to make polybutylene terephthalate and other plastics in addition to spandex. The majority of BDO is made in China, where coal is used as a raw material in many plants.

Fact.MR provides detailed information about the price points of key manufacturers of spandex positioned across the world, sales growth, production capacity, and speculative technological expansion, in this new market report.

Segmentation of Spandex Market Research

• By Fabric Type :

  • Two-Way
  • Four-Way

• By Process :

  • Knitting
  • Weaving
  • Yarn Covering

• By Application :

  • Clothing
  • Medical

• By Region :

  • North America
  • Western Europe
  • Eastern Europe
  • Latin America
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa