Dublin, April 03, 2024 (GLOBE NEWSWIRE) -- The "Spandex Market Report: Trends, Forecast and Competitive Analysis to 2030" report has been added to ResearchAndMarkets.com's offering.
The future of the global spandex market looks promising with opportunities in the clothing and medical markets. The global spandex market is expected to reach an estimated $8.2 billion by 2030 with a CAGR of 2.6% from 2024 to 2030.
The major drivers for this market are rapidly increasing population coupled with rising consumer disposable income, growing innovation in spandex fibers development, as well as, growing need for textile industry materials, particularly for athletic and active wear as well as extensive use in medical applications.
Spandex Market Insights
- The report forecasts that solution dry-spinning is expected to witness the higher growth over the forecast period because it increases the productivity of the product to a great extent as compared to other processes, such as wet spinning and melt spinning.
- APAC is expected to witness highest growth over the forecast period due to the industrial sector is expanding quickly in nations like China and India, and international investment is also rising in the area.
Spandex Market Segmentation
The study includes a forecast for the global spandex by technology, application, and region.
Spandex Market by Technology::
- Solution Dry-Spinning
- Wet-Spinning
- Others
Spandex Market by Application:
- Clothing
- Medical
- Others
Spandex Market by Region:
- North America
- Europe
- Asia Pacific
- The Rest of the World
Spandex Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies spandex companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base.
Some of the spandex companies profiled in this report include:
- DuPont de Nemours
- Asahi Kasei
- Hyosung
- Zhejiang Huafon Spandex
- Yantai Tayho Advanced Materials
- Indorama Industries
- TK Chemical
- Taekwang Industrial
- Jiangsu Shaungliang Spandex
- Xiamen Lilong Spandex
Key Report Features
- Market Size Estimates: Spandex market size estimation in terms of value ($B).
- Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
- Segmentation Analysis: Spandex market size by technology, application, and region in terms of value ($B).
- Regional Analysis: Spandex market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
- Growth Opportunities: Analysis of growth opportunities in different technology, application, and regions for the spandex market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape of the spandex market.
- Analysis of competitive intensity of the industry based on Porter's Five Forces model.
This report answers the following key questions:
- What are some of the most promising, high-growth opportunities for the spandex market by technology (solution dry-spinning, wet-spinning, and others), application (clothing, medical, and others), and region?
- Which segments will grow at a faster pace and why?
- Which region will grow at a faster pace and why?
- What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
- What are the business risks and competitive threats in this market?
- What are the emerging trends in this market and the reasons behind them?
- What are some of the changing demands of customers in the market?
- What are the new developments in the market? Which companies are leading these developments?
- Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
- What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
- What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For more information about this report visit https://www.researchandmarkets.com/r/dfigxh
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