Spandex Market is estimated to expand at a CAGR of more than 8% over the forecast period of 2021-2031
The global spandex market is estimated to expand at a CAGR of more than 8% over the forecast period of 2021-2031. Growing demand from industries such as medical and textiles is one of the leading driving factors for rising growth and consumption of spandex.
Rapidly growing population combined with increased consumer disposable income is expected to drive demand for sports and active wear, resulting in market expansion. Increasing engagement in sporting activities is expected to lead to rising demand for comfortable apparel, such as cycling pants, casual clothing, trekking pants, and even undergarments, as consumers become more conscious of the need of leading a healthy lifestyle, which, in turn, is expected to drive market growth substantially.
Request For Report Sample@ https://www.persistencemarketresearch.com/samples/4358
Key Takeaways from Market Study
- Over the next ten years, the global market for spandex is set to expand more than 2X.
- Sportswear application of spandex to increase at the highest rate over the coming years.
- East Asia, South Asia Pacific, and Europe are major markets for spandex.
- Consumption of spandex, especially in Asia Pacific countries such as China, India, and Japan, is rising due to rapid industrialization, low-cost manufacturing and processing, as well as rising foreign investments.
“Growing population coupled with economic growth, especially in developing regions across the globe, and increasing preference for sports clothing are expected to drive demand for spandex over the coming years,” says a Persistence Market Research analyst.
Request For Report Customization @ https://www.persistencemarketresearch.com/request-customization/4358
The global spandex market has been identified as a significantly fragmented space, with the organized sector occupying a major section of the overall market.
Some leading players included in the report, such as are Hyosung Corporation, Asahi Kasei Corporation, INVISTA, Zhejiang Huafon Spandex Co. Ltd, TK Chemical Corp, Taekwang Industrial Co. Ltd., Yantai Tayho Advanced Materials Co., Ltd, Xiamen Lilong Spandex Co., Ltd, Hyosung Corporation, Jiangsu Shuangliang Spandex Co., Ltd., Toray Industries, and Xiamen Lilong Spandex Co., Ltd., are anticipated to create tough a competitive environment at the global level.
The global spandex market is anticipated to grow substantially owing to many small manufacturers and startups coming up with cost-effective solutions. Steady increase in demand from textile and healthcare industries as well as increased penetration in other industries such as as automobiles, aviation, and energy, and introduction of environmentally friendly and bio-based spandex, will drive market expansion in future.
Furthermore, several market players are investing heavily in research & development to enhance the features of spandex, such as elasticity.
More Valuable Insights
Persistence Market Research, a research and consulting firm, has published a market research report on the spandex market that contains global industry analysis of 2016–2020 and opportunity assessment for 2021–2031.
The report provides in-depth analysis of the market through different segments, namely, fabric type, process, application, and region. The report also provides supply and demand trends, along with an overview of the parent market.
For in-depth competitive analysis, buy now@ https://www.persistencemarketresearch.com/checkout/4358
Persistence Market Research is here to provide companies a one-stop solution with regards to bettering customer experience. It does engage in gathering appropriate feedback after getting through personalized customer interactions for adding value to customers’ experience by acting as the “missing” link between “customer relationships” and “business outcomes’. The best possible returns are assured therein.
Address – 305 Broadway, 7th Floor, New York City,
NY 10007 United States
U.S. Ph. – +1-646-568-7751
USA-Canada Toll-free – +1 800-961-0353
Sales – email@example.com
BUSINESS4 days ago
Domino’s Completes First Contextual and Attention-Powered Campaign with GumGum and Playground xyz
BUSINESS4 days ago
InMobi Wins Gold, Silver, Bronze MMA SMARTIES MENA Awards, Named “Technology Provider of the Year” for Fourth Consecutive Year
FINANCE4 days ago
Explainer-Why does the UK have such a painful inflation problem?
NEWS3 days ago
Analysis-Europe hits resistance in race to finalise green laws