Analysing the Future Landscape: Spandex Market to USD 8.3 Billion Value in 2023 by 2030, With a 8.24% CAGR of – MarkNtel Advisors

Market Overview: Global Spandex Market:

According to the latest report from MarkNtel Advisors, the Global Spandex Market is projected to grow at a CAGR of approximately 8.24% from 2024-30. MarkNtel Advisors, renowned for evaluating business performance, product portfolios, operational segments, and industry developments, provides stakeholders with accurate market projections and estimates. This commitment to precise insights ensures stakeholders can make informed decisions and remain competitive in the rapidly evolving business environment.

Global Spandex Market Driver:

Surging Demand for Spandex Fibers in Medical Textile Industries – Hospitals & medical facilities have high patient traffic. Close patient contact and the presence of immune-compromised patients make these facilities susceptible to higher infection. High-touch surfaces like door knobs, bed rails, medical equipment, etc., are also at high contamination risk. As a result, healthcare workers across the globe tend to use face masks, gloves, etc., for protection from different viruses and bacteria. Medical textiles are manufactured using spandex due to their unique characteristics, including elasticity, comfort, and durability. Therefore, the increasing demand for these textiles to minimize the infection spread within healthcare facilities is driving the Global Spandex Material Market.

In addition, spandex fiber is also being increasingly used for manufacturing bandages, rubber tubing, surgical hose hoses, braces, etc., to provide compression to the surgical areas and improve the functionality of medical products. Hence, the extensive spandex usage in medical product manufacturing is accelerating industry growth.

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Insights into Dominant Segments in the Spandex Market

The comprehensive analysis of the Spandex Market identifies profitable opportunities across various segments, categorized. This detailed segmentation allows potential investors to make informed decisions and optimize returns.

-By Application

  • Clothing- Market Size & Forecast 2019-2030F, Thousand Tons
  • Medical- Market Size & Forecast 2019-2030F, Thousand Tons
  • Home Furnishing- Market Size & Forecast 2019-2030F, Thousand Tons
  • Automotive- Market Size & Forecast 2019-2030F, Thousand Tons
  • Others (Personal Care, Sports Equipment, etc.) – Market Size & Forecast 2019-2030F, Thousand Tons

-By Technology

  • Dry Spinning- Market Size & Forecast 2019-2030F, Thousand Tons
  • Wet Spinning- Market Size & Forecast 2019-2030F, Thousand Tons
  • Reaction Spinning- Market Size & Forecast 2019-2030F, Thousand Tons
  • Melt Extrusion- Market Size & Forecast 2019-2030F, Thousand Tons

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Spandex Market Geographical Reach:

The report also examines the market’s geographical landscape, analysing geographical that dominate in terms of size or volume or show promising future growth.

-By Region

  • North America
  • South America
  • Europe
  • The Middle East & Africa
  • Asia-Pacific

Prominent Spandex Market Competitive Landscape: and Their Strategic Outlook

The report identifies key players and provides an in-depth analysis of their business strategies, trends, innovations, and manufacturing infrastructure. This strategic analysis helps forecast the market presence of these players over the next five years.

  • Huafon Chemicals Co., Ltd
  • Hyosung TNC
  • Asahi Kasei Corporation
  • Taekwang Industrial Co., Ltd.
  • Sunshining Ecotex Clothes Co., Ltd.
  • Indorama Corporation
  • Jiangsu Shuangliang Spandex Co., Ltd.
  • TK Chemical Corporation
  • Xiamen Lilong Spandex Co., Ltd.
  • Yantai Tayho Advanced Material Co., Ltd.
  • New Star Textile Co., Ltd
  • Positex
  • The LYCRA Company
  • Jining Ruyi High-tech Fibre Co., Ltd.
  • Hangzhou Qingyun Advanced Materials Co., Ltd.
  • Others (Colossustex)

Customization of Reports Available –

Key Questions Addressed in the Report

  1. Current Market Size and Share: What is the current size and share of the Spandex Market, and what growth trends are anticipated shortly?
  2. Product/Service Demand: How does the demand for specific products/services in the Spandex Market look, and what factors contribute to its growth or decline?
  3. Market Forecast: What is the forecast for the Spandex Market in terms of size, growth, and emerging trends over the next few years?
  4. Market Evolution: How has the Spandex Market evolved recently, and what are the latest developments that industry professionals should be aware of?
  5. Demand Factors: What key factors contribute to the demand for the Spandex Market, as outlined in the most recent research report?

About Us

MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others.

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