The global spandex market is estimated to grow at a CAGR of more than eight per cent from 2016 to 2023. It is also commonly known as elastane. The spandex market is expected to grow with the recovery in the US economy post recession. Technology advancement with moisture management properties coupled with performance efficiency is likely to benefit elastane market growth.

Factors such as superior elasticity, regaining original shape, durability, lightweight, resistance to UV light are likely to favor spandex market demand. 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.

Increase in automobile production, particularly in the Asia Pacific, is likely to drive market growth. In the Asia Pacific, the Chinese spandex market size accounted for more than 60 per cent of the total volume in 2015. In 2012, China had around 30 manufacturing units with a total capacity of 520 kilo tons with domestic production exceeding 320 kilo tons in the same year. 40D and 20D are major products manufactured in China.