Americas Spandex Market Size

Americas Spandex Market Size

Americas Spandex market size exceeded USD 630 Million, globally in 2018 and is estimated to grow at over 12% CAGR between 2019 and 2025. Increasing demand for compressional stockings and surgical hoses in medical sector will foster product demand.

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Spandex is an elastic fiber produced from polyether-polyurea copolymer. It offers various benefits including resistance to wear & tear caused by detergents, sweat, body oils, and lotions, making it ideal for apparel usage. It has several applications which include medical, home furnishings, apparel, and automotive textiles. These factors will have a positive impact on Americas spandex market.
 

The product offers high elasticity, up to 500% its length, providing perfect comfort & fit thus preventing sagging when used in garments. Spandex is used extensively in various sportswear, such as swimsuits and exercise wear owing to its lightness & ability to allow free movements thus preventing chafing & rashes. Growing sportswear demand will foster product demand.
 

Growing product demand from several end-user industries, including automotive & apparel sectors, along with strategic collaborations & alliances between manufacturers will drive the Americas spandex market share. In February 2019, ITOCHU Group, a global trading firm, collaborated with Shandong Ruyi Science and Technology Group, a Chinese clothing firm, to acquire The LYCRA Company, a spandex apparel manufacturer based in the U.S. This acquisition allows the partnering firms to achieve collaborative synergies and increase the corporate value of LYCRA
 

U.S. textile and apparel shipments were reported over USD 76.8 billion in 2018. Favorable policies and initiatives by the government in the region to promote the textile & clothing sector will have a positive impact on industry growth. The changing spending patterns of the middle-class has led to increased expenditure on apparel & clothing, which will enhance Americas spandex market.
 

Companies invest on technological advancements in order to improve production efficiency and provide quality product. Functional drawbacks including heat sensitivity and moisture trapping of spandex may hamper industry growth. However, growing product demand for medical applications will positively impact Americas spandex market growth.