Spandex Market

Market Definition

The market encompasses the global production, distribution, and consumption of spandex fibers, known for their exceptional elasticity and strength. It includes applications in apparel, sportswear, medical textiles, and industrial products. 

The market involves raw material suppliers, manufacturers, and end users, driven by the demand for stretchable, comfortable, and durable fabrics across fashion, fitness, and healthcare sectors. The report presents a comprehensive assessment of the primary drivers propelling the market, alongside a detailed examination of regional analysis and the competitive landscape impacting industry dynamics.

Spandex Market Overview

The global spandex market size was valued at USD 6.09 billion in 2023 and is projected to grow from USD 6.47 billion in 2024 to USD 10.25 billion by 2031, exhibiting a CAGR of 6.80% during the forecast period. 

This market is registering significant growth, primarily driven by the increasing demand for high-performance, stretchable fabrics across key end-use sectors such as apparel, healthcare, and sportswear. Rising consumer preference for comfort and functionality in clothing, particularly in activewear and athleisure, is fueling the market. 

Technological advancements in textile processing, including the development of sustainable and high-durability spandex fibers, are further enhancing product adoption. In the healthcare industry, spandex is widely utilized in compression garments, orthopedic supports, and medical textiles, contributing to steady demand.

Major companies operating in the spandex industry are HYOSUNG TNC., The LYCRA Company LLC, Huafon Chemical Co., Ltd., Asahi Kasei Corporation, TK CHEMICAL CORPORATION, Yantai Tayho Advanced Materials Co.,Ltd., Indorama Corporation, Taekwang, Milliken & Company, TORAY INDUSTRIES, INC., Xiamen Lilong Spandex Co., Ltd., TOYOBO CO., LTD., Gopal Jee Fabrics, Shenzhen Supertex Textile Co., Ltd., and Knit Zone.

Additionally, evolving fashion trends and the global shift toward fitness and wellness lifestyles are supporting the increased consumption of spandex-based garments. Overall, spandex continues to gain strategic importance in the textile value chain, positioning itself as a critical material for innovation and differentiation in competitive markets.

• In March 2025, Qore, a joint venture between Cargill and HELM, announced a partnership with The LYCRA Company to produce bio-derived LYCRA spandex fibers using QIRA, a bio-based alternative to fossil fuel-based butanediol. This collaboration supports the launch of the world’s first large-scale, bio-based spandex production, aiming to reduce carbon emissions by up to 44% while maintaining fiber quality and performance.

Key Highlights:

1. The spandex industry size was valued at USD 6.09 billion in 2023.
2. The market is projected to grow at a CAGR of 6.80% from 2024 to 2031.
3. Asia Pacific held a market share of 48.12% in 2023, with a valuation of USD 2.93 billion.
4. The polyether-based spandex segment garnered USD 3.33 billion in revenue in 2023.
5. The knitted segment is expected to reach USD 6.01 billion by 2031.
6. The standard spandex segment is expected to reach USD 7.32 billion by 2031.
7. The dry spinning segment is expected to reach USD 7.21 billion by 2031.
8. The textile & fashion segment is expected to reach USD 6.17 billion by 2031.
9. The market in North America is anticipated to grow at a CAGR of 7.19% during the forecast period.

Market Driver

Rising Demand for Comfortable Apparel and Technological Advancements

The market is registering significant expansion, primarily driven by the rising demand for stretchable & comfortable apparel and continuous technological advancements in spandex fiber production. The increasing popularity of athleisure, activewear, and casual wear has heightened consumer expectations for comfort, flexibility, and garment performance. 

Spandex, known for its superior elasticity and shape retention, is integral in fulfilling these demands. It is increasingly used in a wide range of clothing, including sportswear, lingerie, and fitted denim. Alongside this growing demand, technological innovations in fiber production are transforming the capabilities and quality of spandex. 

Advancements such as enhanced polymer chemistry, improved fiber cross-section design, and eco-friendly production processes are leading to spandex fibers that are more durable, breathable, and easier to blend with other materials. These innovations not only enhance the stretch and recovery properties of spandex but also improve its resistance to heat, chlorine, and UV exposure, thereby extending the lifespan of finished products.

• In January 2025, The LYCRA Company introduced LYCRA CHROMA fiber, a new spandex innovation developed at its Northern Ireland facility. The fiber is designed to eliminate grin-through and enhance color uniformity in stretch fabrics, delivering deeper, richer hues across nylon and wool blends. This advancement supports improved esthetics and garment quality in applications such as hosiery, activewear, and seamless apparel.

Market Challenge

Volatility in Raw Material Prices

One of the most significant challenges facing the spandex market is the high volatility in raw material prices, particularly those derived from petrochemical sources such as PTMEG (polytetramethylene ether glycol), MDI (methylene diphenyl diisocyanate), and other polyurethane intermediates. 

Spandex production heavily relies on these chemical compounds, hence, any fluctuation in global crude oil prices has a direct and substantial impact on production costs. This volatility is often triggered by macroeconomic factors such as global energy crises, geopolitical tensions, supply chain bottlenecks, and currency exchange fluctuations. 

Such unpredictability in input costs can disrupt long-term pricing strategies, compress profit margins, and make it challenging for manufacturers to maintain competitive pricing in the downstream apparel and textiles sector. Smaller manufacturers, in particular, may struggle to absorb these cost increases or pass them on to consumers, leading to reduced profitability and strained operations. 

Industry players are increasingly exploring more stable and sustainable alternatives. This includes investing in the development and adoption of bio-based raw materials such as bio-BDO and renewable PTMEG, which are less susceptible to oil price fluctuations.

Market Trend

Growth of Medical Textiles and Transition to Sustainable Solutions

The market is registering dynamic growth, supported by the expansion of the medical & healthcare textiles sector and the increasing shift toward sustainable and bio-based spandex solutions. The integration of spandex in medical textiles such as compression garments, surgical hosiery, and orthopedic supports is gaining traction, due to its superior elasticity, comfort, and adaptability to body contours. 

The use of spandex in medical applications is expected to accelerate as the global demand for advanced healthcare products rises, particularly in aging populations and post-operative care. Simultaneously, environmental concerns and regulatory pressures are driving a significant shift toward more sustainable practices within the textile industry. 

Manufacturers and brands are increasingly adopting bio-based spandex and eco-conscious production methods to reduce environmental impact. Innovations in renewable feedstocks and recycling technologies are enabling the development of circular spandex fibers that align with global sustainability goals.

• In January 2024, Hyosung introduced its 2024 certified sustainable textile and sourcing solutions for denim at Kingpins NYC, showcasing innovations in spandex such as regen Bio-Based spandex made with up to 98% renewable resources, 100% recycled regen Spandex, and sustainable variants of CREORA 3D Max spandex. These offerings support circularity, recyclability, and sustainability in the denim industry, aligning with evolving consumer and regulatory demands.

Spandex Market Report Snapshot

Segmentation	Details
By Material	Polyether-based Spandex, Polyester-based Spandex
By Type	Knitted, Woven
By Grade	Standard Spandex, High-performance Spandex
By Production Process	Dry Spinning, Wet Spinning, Melt Spinning
By End-use Industry	Textile & Fashion, Healthcare & Medical, Automotive & Industrial
By Region	North America: U.S., Canada, Mexico
	Europe: France, UK, Spain, Germany, Italy, Russia, Rest of Europe
	Asia-Pacific: China, Japan, India, Australia, ASEAN, South Korea, Rest of Asia-Pacific
	Middle East & Africa: Turkey, UAE, Saudi Arabia, South Africa, Rest of Middle East & Africa
	South America: Brazil, Argentina, Rest of South America

Market Segmentation

• By Material (Polyether-based Spandex, Polyester-based Spandex): The polyether-based spandex segment earned USD 3.33 billion in 2023, due to its superior elasticity, durability, and moisture resistance, making it ideal for high-performance apparel.
• By Type (Knitted, Woven): The knitted segment held 65.09% share of the market in 2023, due to its widespread use in activewear and casualwear that require flexibility and comfort.
• By Grade (Standard Spandex, High-performance Spandex): The standard spandex segment is projected to reach USD 7.32 billion by 2031, owing to its cost-effectiveness and broad applications across mass-market apparel and undergarments.
• By Production Process (Dry Spinning, Wet Spinning, and Melt Spinning): The dry spinning segment is projected to reach USD 7.21 billion by 2031, owing to its efficiency, scalability, and ability to produce high-quality spandex fibers.
• By End-use Industry (Textile & Fashion, Healthcare & Medical, and Automotive & Industrial): The textile & fashion segment is projected to reach USD 6.17 billion by 2031, owing to the sustained demand for stretchable, form-fitting garments and the continued growth of the athleisure trend.

Spandex Market Regional Analysis

Based on region, the market has been classified into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

Asia Pacific accounted for 48.12% share of the spandex market in 2023, with a valuation of USD 2.93 billion. This dominance is attributed to the presence of leading textile manufacturing hubs such as China, India, South Korea, and Vietnam, which have established large-scale production capacities supported by cost-effective labor, integrated supply chains, and government incentives for textile exports. 

China, in particular, hosts major spandex manufacturing facilities and has made significant investments in advanced textile machinery and R&D, driving high output and export volumes. Additionally, the rising domestic consumption of performance wear, fueled by expanding middle-class populations and fitness-oriented lifestyles, continues to support the regional demand.

• In May 2024, Hyosung TNC announced the expansion of its production facilities in India and Türkiye to strengthen its global supply of diaper-use spandex. The investment aims to enhance supply chain stability and meet the growing demand in Europe, the Middle East, Africa, and the Indian domestic market. By 2026, the company plans to increase its diaper-use spandex production by 11,000 tons, leveraging its global production network to maintain its leadership in the market.

The spandex industry in North America is expected to register the fastest growth, with a projected CAGR of 7.19% over the forecast period. The market is driven by the increasing demand for high-quality, functional apparel in the U.S. and Canada, especially within the athleisure and sportswear segments. 

Consumers in North America prioritize premium, performance-based textiles, pushing the demand for high-performance spandex in activewear and medical-grade applications. Furthermore, reshoring initiatives and advancements in textile innovation across U.S.-based manufacturing clusters are contributing to localized production and supply resilience, enhancing market momentum in the region.

 Regulatory Frameworks

• In the U.S., spandex is regulated by the Consumer Product Safety Commission (CPSC) under the Flammable Fabrics Act (FFA) to ensure that it meets fire safety standards. The Environmental Protection Agency (EPA) oversees emissions and hazardous chemicals in production under the Clean Air Act and Toxic Substances Control Act (TSCA).
• In the European Union (EU), spandex must comply with the REACH Regulation (Registration, Evaluation, Authorisation and Restriction of Chemicals), managed by the European Chemicals Agency (ECHA), ensuring chemical safety in textile production.
• In China, spandex production is subject to regulation by the Ministry of Ecology and Environment under the Cleaner Production Promotion Law and Chemical Substances Environmental Management System. Quality and labeling standards fall under the China National Textile and Apparel Council and GB Standards for basic safety of textiles.
• In Japan, spandex must comply with the Household Goods Quality Labeling Act, requiring fiber content labeling, and the Chemical Substances Control Law (CSCL) under the Ministry of Economy, Trade and Industry (METI), regulating chemical use and environmental safety in textile manufacturing.
• In India, spandex manufacturing is governed by the Bureau of Indian Standards (BIS) under various IS standards for textiles. Environmental compliance is managed by the Central Pollution Control Board (CPCB) under the Environment (Protection) Act, 1986.

Competitive Landscape

The spandex market is characterized by continuous innovation, with key players actively focusing on strategic initiatives to strengthen their market position. Companies are heavily investing in R&D to enhance fiber performance, including durability, elasticity, and environmental sustainability. 

A major strategic trend involves the development of bio-based and recyclable spandex materials to align with shifting regulatory and consumer preferences toward eco-friendly textiles. Capacity expansion is another core strategy, with leading manufacturers establishing or upgrading production facilities in high-demand regions to ensure cost efficiency and supply chain responsiveness. 

Strategic collaborations and partnerships across the textile value chain, from raw material suppliers to apparel brands, are being pursued to accelerate product development and secure long-term contracts. Additionally, companies are adopting vertical integration to streamline operations and improve quality control, while digitalization and automation in manufacturing processes are being leveraged to enhance production efficiency and responsiveness to market demands.

• In April 2024, Hyosung TNC announced a USD 1 billion investment to establish the world’s first fully-integrated Bio-BDO production system in Vietnam, dedicated to manufacturing sustainable raw materials for bio-spandex. Powered by Geno’s GENO BDO technology, the facility is set to produce 50,000 tons of Bio-BDO annually by 2026, supporting the production of regen BIO spandex and reinforcing Hyosung TNC’s commitment to sustainable textile innovation.

List of Key Companies in Spandex Market:

• HYOSUNG TNC.
• The LYCRA Company LLC
• Huafon Chemical Co., Ltd.
• Asahi Kasei Corporation
• TK CHEMICAL CORPORATION
• Yantai Tayho Advanced Materials Co.,Ltd.
• Indorama Corporation
• Taekwang
• Milliken & Company
• TORAY INDUSTRIES, INC.
• Xiamen Lilong Spandex Co., Ltd.
• TOYOBO CO., LTD.
• Gopal Jee Fabrics
• Shenzhen Supertex Textile Co., Ltd.
• Knit Zone

Recent Developments (Product Launches)

• In January 2025, Spanx, Inc. launched its first-ever sculpting denim collection, SPANXsculpt ReDefine, featuring LYCRA FitSense denim technology. The innovation integrates targeted sculpting zones directly into the fabric using LYCRA spandex fibers, delivering enhanced tummy control, thigh shaping, and butt-lifting effects without traditional paneling. This marks a significant application of spandex in denim, combining comfort, fit, and advanced compression technology.
• In August 2023, The LYCRA Company introduced three new spandex fiber innovations, namely LYCRA ADAPTIV BLACK fiber, LYCRA ADAPTIV XTRA LIFE fiber, and LYCRA SHEER SENSATION technology, at Intertextile Shanghai. These new products aim to deliver enhanced durability, comfort, and inclusive sizing for activewear, swimwear, and hosiery. The company also showcased sustainable fiber solutions, including LYCRA EcoMade and bio-based LYCRA made with QIRA, supporting its commitment to innovation and circularity in the spandex and textile industry.