The global spandex market is growing at 10.3 per cent. Spandex is a manufactured fiber in which the fiber-forming substance is a long-chain synthetic polymer comprising at least 85 per cent segmented polyurethane. This fiber, also called elastane, is a synthetic long-chain polyurethane-polyurea copolymer composed of rigid diisocyanate segments and flexible macro-glycol segments arranged in a specific order. The fiber is characterized by exceptional stretch and recovery properties, with the elongation at break of around 400 per cent to 600 per cent. These characteristics entail its wide-scale use in a diverse set of applications in textile and clothing and healthcare industries. Some prominent areas of application for spandex fibers include sportswear, casual clothing, home furnishings, and undergarments. Medical and healthcare-related applications of spandex fibers include diapers, compression stockings and hoses, and bandages.

Steadily rising population, coupled with increasing disposable income, in developing regions is expected to drive growth of the global spandex market. Increasing demand from healthcare-related applications is another major factor driving the growth of the global spandex market.

Asia Pacific is expected to dominate the market whereas the Middle East and Africa, Latin America, Europe, and North America are expected to account for a relatively smaller share. Asia Pacific is expected to register a CAGR of 11 per cent in terms of market value.