Spandex Fiber Market Size, Share, Growth Analysis, By Product(Solution Dry Spinning, Solution Wet Spinning, Others), By End - Use(Apparel & Clothing, Medical & Healthcare, Others), By Region - Industry Forecast 2024-2031

Global Spandex Fiber Market size was valued at USD 761 million in 2022 and is poised to grow from USD 827.21 million in 2023 to USD 1612.32 million by 2031, growing at a CAGR of 8.7% in the forecast period (2024-2031).

Spandex fibers, known for their elasticity and stretchability, are widely used in the apparel industry for manufacturing activewear, sportswear, swimwear, intimate wear, and even denim. As consumers increasingly seek comfortable and flexible clothing options, the demand for spandex fibers in these applications has been on the rise.

The global trend towards healthier lifestyles, increased participation in sports and fitness activities, and the athleisure fashion trend have contributed to a higher demand for activewear and sports clothing. These types of clothing often incorporate spandex fibers to provide the necessary stretch and flexibility, driving the demand for spandex in the market.

Technological advancements in the textile industry have led to the development of innovative spandex blends and applications. Manufacturers are continuously researching and introducing new spandex-based fabrics that offer enhanced performance characteristics such as moisture-wicking, breathability, and antibacterial properties. These advancements have expanded the potential applications of spandex in various industries, contributing to market growth.

US Spandex Fiber Market is poised to grow at a sustainable CAGR for the next forecast year.