The global spandex market is growing at a CAGR of eight per cent. Spandex is used in textile manufacturing applications such as leggings, gloves, cycling jerseys and competitive swimwear. Strenuous movements are involved in active sports that may require garment stretch. This stretch can result in movement restriction for the wearer. This can be overcome by using spandex material. Factors such as superior elasticity, regaining of original shape, durability, lightweight and resistance to UV light are likely to favor spandex market demand. Sportswear application is likely to witness the highest gains. Up to three per cent of spandex fiber in fabric is enough for fabric improvement and shape retention whereas high performance garments such as swimwear may contain 30 per cent.

The Asia Pacific region accounts for more than 60 per cent of the total volume and China accounts for a major chunk of the market in the Asia Pacific region. Latin America is likely to grow at significant rates owing to the growth in the sportswear and apparel industry. The market in the US is expected to grow with the recovery in the US economy post recession. But the North America spandex market share is likely to witness moderate growth rates. Europe is likely to witness below average growth rates in the near future.