Spandex industry witnesses capacity expansion peak in 2022

Spandex industry witnesses capacity expansion peak in 2022 and the increase in leading companies is high. The price competition intensifies again on spandex market, which is similar to that in 2018-2019. In addition, global economy has increasing uncertainty in 2022. The growth rate of demand is expected to be hard to follow that of supply. Some export orders of textiles and apparels flow back to Southeast Asia. Spandex market is supposed to encounter pressure from growing capacity and weaker demand