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Americas Spandex Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032
Market Report I 2024-08-21 I 200 Pages I Global Market Insights
The Americas spandex market reached USD 1,127.88 million in 2023 and is projected to grow at a CAGR of 12.03% from 2024 to 2032. The medical sector's rising demand for compression stockings and surgical hoses will boost product demand. Spandex, an elastic fiber from polyether-polyurea copolymer, resists wear and tear from detergents, body oils, sweat, and lotions, making it ideal for apparel. Its applications include home furnishings, medical, automotive textiles, and apparel positively impacting the market. Spandex offers high elasticity, stretching up to 500% of its length, ensuring comfort and fit, and preventing sagging in garments. Its lightweight nature and ability to facilitate free movement make it essential in sportswear, from swimsuits to exercise attire, preventing chafing and rashes. As sportswear demand rises, so does the need for spandex.
The overall Americas spandex industry is classified based on the application and region.
The Apparel segment is projected to reach USD 1,565.6 million, with a CAGR of 12.7% by 2032. Spandex's high elasticity makes it ideal for home decor items like chair and pillow covers, ensuring quick recovery and providing an anti-skid feature. Its wrinkle resistance, comfort, softness, and ease of cleaning add to its appeal. As interest in interior design for offices and homes rises, so does the demand for spandex in North America. Spandex's properties like wrinkle and stain resistance, UV protection, and skin-friendliness make it a choice for curtains, party drapes, and sofa covers. Its durability and breathability enhance its appeal. As construction activities surge, boosting the furniture industry, the demand for spandex will rise.
The Americas spandex market is projected to reach USD 2.53 billion, with a CAGR of 12.3% from 2024 to 2032. This growth is largely fueled by rising demand for activewear and athleisure, as well as ongoing technological advancements. Innovations such as enhanced fiber elasticity, moisture-wicking capabilities, and eco-friendly production methods are boosting both product performance and sustainability. Companies are heavily investing in R&D to develop high-performance spandex that offers exceptional comfort and durability. Additionally, new manufacturing techniques like 3D knitting and digital printing are enabling greater customization and efficiency. The increasing consumer preference for versatile and functional clothing is further driving market growth. Environmental concerns are also pushing the industry to explore recycled and biodegradable spandex options, aligning with sustainability goals. As these trends progress, the spandex market in the Americas is poised for continued expansion, driven by both technological advancements and shifting consumer demands.
Report Content
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Industry 360 synopsis
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.1.1 Key manufacturers
3.1.2 Distributors
3.1.3 Profit margins across the industry
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.1.1 Product penetration in the apparel and textile industry
3.2.1.2 Large automotive production capacity along with technological developments in the industry
3.2.1.3 Expansion in the global spandex production capacity along with ease in raw material availability
3.2.2 Market challenges
3.2.2.1 Functional drawbacks including heat sensitivity and moisture trapping
3.2.3 Market opportunity
3.2.3.1 New opportunities
3.2.3.2 Growth potential analysis
3.3 Raw material landscape
3.3.1 Manufacturing trends
3.3.2 Technology evolution
3.3.2.1 Sustainable manufacturing
3.3.2.1.1 Green practices
3.3.2.1.2 Decarbonization
3.3.3 Sustainability in raw materials
3.3.4 Pricing trends (USD/Ton), 2021 - 2032
3.3.4.1 North America
3.3.4.2 Latin America
3.4 Regulations & market impact
3.5 Porter's analysis
3.6 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Company market share analysis
4.2 Competitive positioning matrix
4.3 Strategic outlook matrix
Chapter 5 Market Size and Forecast, By Application, 2021-2032 (USD Million, Kilo Tons)
5.1 Key trends
5.2 Apparel
5.2.1 Sportswear
5.2.2 Gloves
5.2.3 Swimwear
5.2.4 Activewear
5.3 Medical
5.3.1 Diapers
5.3.2 Surgical hoses & compressional stockings
5.3.3 Bandages
5.4 Home furnishings,
5.5 Automotive textiles
Chapter 6 Market Size and Forecast, By Region, 2021-2032 (USD Million, Tons)
6.1 Key trends
6.2 North America
6.2.1 U.S.
6.2.2 Canada
6.3 Latin America
6.3.1 Brazil
6.3.2 Mexico
6.3.3 Argentina
6.3.4 Rest of Latin America
Chapter 7 Company Profiles
7.1 Hyosung
7.2 INVISTA
7.3 TK Chemical Corporation
7.4 Taekwang Industrial Co. Ltd
7.5 Asahi Kasei
7.6 American Dyeing & Manufacturing
7.7 Toray Industries
7.8 Fibertex
7.9 Shandong Ruyi Technology Group
7.10 Nantong Huamao Industrial Co., Ltd.
7.11 Teijin Limited
7.12 Eslon Chemical Co., Ltd.
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