The worldwide spandex fibre market reached a valuation of US $ 7.9 Billion in 2022 and is anticipated to expand significantly, reaching a market size of US $ 15.2 Billion by 2032, with a projected Compound Annual Growth Rate (CAGR) of 7.1 per cent during the period from 2023 to 2032. This was stated in Acumen Research and Consulting’s recently published report titled Spandex Fiber Market Forecast, 2023 – 2032.
The market’s positive momentum is driven by several factors, including the increasing demand for stretchable fabrics in the apparel and textile industries, the growing popularity of activewear and athleisure, and notable advancements in spandex manufacturing technologies. These factors collectively contribute to the market’s upward trajectory.
Spandex fibres play a crucial role in creating stretchable clothing, sportswear, and technical textiles that align with changing consumer demands. Key market trends include the surge in athleisure and activewear, the embrace of sustainable solutions, and advancements in functional textiles. Factors like enhanced apparel comfort and fit, the thriving sports and fitness sector, the expansive textile industry, and continuous innovations in spandex manufacturing act as drivers propelling the market’s expansion.
The growing preference among consumers for comfortable and well-fitting clothing that allows unrestricted movement has led to an increasing adoption of spandex fibres in apparel manufacturing. With their inherent elasticity and shape retention properties, spandex fibres guarantee a comfortable and flattering fit, catering to the desires of modern consumers.