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Global spandex market size was estimated at over 760 kilo tons in 2015 and is likely to exceed 1,550 kilo tons by 2023, growing at a CAGR of more than 8% from 2016 to 2023. It is also commonly known as elastane.Asia Pacific, especially China spandex market size was the dominant region and accounted for more than 60% of the total volume in 2015. China accounted for a major chunk of the market in Asia Pacific region in 2015.
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Growing application scope in apparel and textile industry is likely to drive spandex market over the forecast period. They are used in textile manufacturing applications such as leggings, gloves, cycling jerseys and competitive swimwear. Spandex market price has witnessed to be weak in mid 2014 owing to ease of tight supply and low demand from downstream applications. The market is expected to grow with recovery in U.S. economy post recession.
Strenuous movements are involved in active sports that may require garment stretch. This stretch can result in movement restriction for the wearer. This can be overcome by using spandex material. Factors such as superior elasticity, regaining to original shape, durability, lightweight, resistance to UV light is likely to favor spandex market demand.
The Spandex Market reports basic table of content consists of,
1. Methodology and Scope
2. Executive Summary
3. Spandex Market Industry Insights
3.1 Industry segmentation
3.2. Industry size, forecast and growth expectations, 2019 – 2025
3.3. Industry ecosystem analysis
3.4. Raw material insights
3.5. Technology insights
3.6. Regulatory framework
3.7. Industry dynamics
3.8. Key growth opportunities
3.9. Porter’s analysis
3.10. Company market share, 2018
3.11. PESTEL analysis
3.14. Regional price trends
4. Spandex Market Product Insights
5. Spandex Market Application Insights
6. Spandex Market Regional Insights
7. Competitor Profiles
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Stringent government norms to curb carbon footprints into the atmosphere are likely to hinder industry participant’s growth. Investments to develop products from renewable sources are likely to provide growth opportunity with stable raw material supply.
Invista, under the brandname Lycra, has recently introduced bio based spandex market for apparel and garment applications. Bio spandex contains approximately 70% of the sustainable feedstock made out of renewable butanediol from dextrose which is derived from corn. The company markets the product as a specialty product and sells at a premium rate than conventional Lycra.
Invista uses biobased 1,4-butanediol as raw material from Genometica’s developed technology which has successfully developed fermentation route for the chemical using E. coli to metabolize sugar.1,4-butanediol is then synthesized to THF which is further used for PTEF production.
1 Spandex Market size & share forecast by product & application 2019-2025
2. Growth drivers, pitfalls & industry challenges
3. Spandex Market growth opportunities & emerging business models
4. Competitive benchmarking with market share analysis and company profiles
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The global spandex market share is moderately consolidated and comprises of companies sucg as BASF, DuPont, Invista and Mitsubishi Chemical. Other major companies include Zhejiang Huafo, Dow Chemical, Yantai Bailu Chemical Fiber Co and Swan Fiber Co.
Contact Info:
Name: Arun Hedge
Email: Send Email
Organization: Global Market Insights, Inc.
Website: https://www.gminsights.com/industry-analysis/spandex-market
Release ID: 88890856