Market Size of Spandex Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | < 6.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Spandex Market Analysis
The Global Spandex market is projected to register a CAGR of around 6% during the forecast period (2022-2027).
The market was negatively impacted by COVID-19 in 2020. The COVID-19 pandemic affected the market with the pandemic the supply chain and market were disrupted. During the pandemic, many factories producing spandex were shut down.
- Over the short term, rising demand for spandex for the usage in sportswear and activewear is the driving factor which is stimulating the market demand.
- Environmental degradation caused by spandex fabric is supposed to hinder market growth.
- The emergence of the usage of spandex for industrial applications and production using biodegradable materials is likely to create opportunities for the market in the coming years.
- Asia-Pacific region is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period.
