Spandex Fiber Market 2025

2025-06-17
By: siddheshkapshikar
Posted in: news

The global Spandex Fiber market was valued at US$ 5,993.4 million in 2023 and is anticipated to reach US$ 10,510 million by 2030, witnessing a CAGR of 8.42% during the forecast period 2024-2030.

Spandex, also known as Lycra or elastane, is a synthetic fiber that is known for its elasticity and stretchiness.

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Spandex fibers are made from a polymer called polyurethane, which is made by reacting a diisocyanate with a diol or diamine. The resulting polymer has a repeating unit of urethane linkages that provide the elasticity and stretchiness that is characteristic of spandex fibers.

This report aims to provide a comprehensive presentation of the global market for Spandex Fiber, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Spandex Fiber.

The Spandex Fiber market size, estimations, and forecasts are provided in terms of output/shipments (K Tons) and revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global Spandex Fiber market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players , are also provided.

For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors , and their respective market ranks. The report also discusses technological trends and new product developments.

The report will help the Spandex Fiber manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, production, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions .

Market Segmentation

By Company

Hyosung Corporation
Zhejiang Huafon Spandex
Huahai Group
Highsun Group
Xinxiang Bailu Chemical Fiber
Asahi Kasei Corporation
Yantai Tayho Advanced Materials
Jiangsu Shuangliang Spandex
Taekwang Industrial
TK Chemical Corporation
Xiamen Lilong Spandex
Indorama Corporation
LDZ New Aoshen Spandex

Segment by Type

Solution Dry Spinning
Solution Wet Spinning
Others

Segment by Application

Apparel and Clothing
Medical and Healthcare
Others

Production by Region

China
Japan
South Korea
India
Rest of World

Consumption by Region

North America

U.S.
Canada

Asia-Pacific

China
Japan
South Korea
India
Southeast Asia
Australia
Rest of Asia-Pacific

Europe

Germany
UK
France
Russia
Italy
Rest of Europe

Latin America

Brazil
Mexico
Rest of Latin America

The Spandex Fiber Market is growing significantly, driven by its essential role in textiles, sportswear, hosiery, and medical applications. Valued at $6.35 billion in 2023, it is projected to expand at a CAGR of 6.77% and reach approximately $10.05 billion by 2030. This growth is underpinned by increasing demand for activewear, driven by rising fitness trends and lifestyle shifts towards comfort-focused clothing

Despite its strong growth, the market faces challenges such as raw material price volatility, mainly linked to the petrochemical sector, and sustainability-related regulatory hurdles. There is also competition from alternative materials that offer similar benefits. However, there are significant opportunities for market players to innovate in eco-friendly production practices and explore high-growth sectors like automotive and electronics

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