Spandex fiber, also known as Lycra or elastane, is a highly elastic synthetic fiber made from polyurethane. Its superior stretchability and lightweight properties have made it an essential material in various industries, including apparel, sportswear, medical textiles, and more.

Market Overview

Global spandex fiber market was valued at USD 5,993.4 million in 2023 and is projected to reach USD 10,510 million by 2030, growing at a CAGR of 8.42% during 2024–2030. Some alternate reports peg the 2023 market at USD 6.35 billion, forecasting a slightly lower CAGR of 6.77%, reaching USD 10.05 billion by 2030.

Key Market Drivers

• Rising demand for activewear and athleisure

• Growing health consciousness fueling sports and fitness trends

• Increasing applications in medical and healthcare textiles

• Preference for lightweight, stretchable materials in fashion and functional clothing

Market Challenges

• Volatility in raw material prices (mainly from petrochemicals)

• Environmental and regulatory concerns over synthetic production

• Competition from alternative sustainable or stretchable materials

Innovation Opportunities

• Development of eco-friendly production processes

• Exploration of spandex applications in automotive, smart textiles, and electronics

• Bio-based and recycled spandex innovations to meet sustainability goals

Top 10 Companies in Spandex Fiber Market

1. Hyosung Corporation
Leading global manufacturer known for its Creora® spandex, serving apparel, sportswear, and industrial applications.

2. Zhejiang Huafon Spandex
A dominant Chinese player with large-scale production capabilities and global export reach.

3. Huahai Group
China-based company focused on domestic and international markets with diverse spandex solutions.

4. Highsun Group
Strong R&D investments and sustainable production strategies position this company as an emerging innovation leader.

5. Xinxiang Bailu Chemical Fiber
Offers a broad product portfolio across apparel, industrial textiles, and healthcare applications.

6. Asahi Kasei Corporation
Japanese multinational with high-performance spandex offerings under the ROICA™ brand.

7. Yantai Tayho Advanced Materials
Specializes in differentiated spandex fibers for demanding applications such as shapewear and compression garments.

8. Jiangsu Shuangliang Spandex
Known for large-scale output and rapid expansion across Asia-Pacific markets.

9. Taekwang Industrial
South Korean manufacturer with strong technological integration and a presence in fashion-forward textile markets.

10. TK Chemical Corporation
Diversified portfolio in synthetic fibers with a growing footprint in functional fabrics and spandex innovations.

Market Segmentation

By Type

• Solution Dry Spinning

• Solution Wet Spinning

• Others

By Application

• Apparel and Clothing

• Medical and Healthcare

• Others

Production by Region

• China

• Japan

• South Korea

• India

• Rest of World

Consumption by Region

North America

• U.S.

• Canada

Asia-Pacific

• China

• Japan

• South Korea

• India

• Southeast Asia

• Australia

• Rest of Asia-Pacific

Europe

• Germany

• UK

• France

• Russia

• Italy

• Rest of Europe

Latin America

• Brazil

• Mexico

• Rest of Latin America

Spandex Fiber Trends That Will Dominate the Market in 2025

• Shift to sustainable and recycled spandex production

• Smart textiles integrating stretchable electronics

• Increased demand in medical compression garments

• Expansion in automotive and technical textiles

• Regional manufacturing shifts to reduce supply chain risks

Breakthrough Trends Shaping the Evolution of Spandex Fiber

• Bio-based spandex from renewable feedstocks

• Nano-finishing and coating technologies for enhanced functionality

• AI and automation in textile manufacturing processes

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