Spandex was first successfully developed by Bayer Company of Germany, and then industrialized production was first realized by DuPont Company of the United States. The product name is Lycra (Lycra). Spandex production in mainland China began in 1989 and has experienced a period of slow development for more than ten years. Since the beginning of the 21st century, with the rapid development of my country's textile industry, the progress of production technology and the expansion of application fields, the China spandex industry has entered a period of rapid growth. At present, China has become the world's largest producer and consumer of spandex.
In 2022, the global spandex production capacity will be 1.46 million tons, with a year-on-year increase of 9%, and the increase will be mainly concentrated in China. The China spandex production capacity will be 1.0965 million tons, with a year-on-year increase of 12.9%, hitting a new high since 2016, showing that the growth rate continues to expand situation. During the reporting period, the output of spandex was 786,000 tons, a year-on-year decrease of 0.4%, the export volume was 71,000 tons, a year-on-year decrease of 11.6%, and the apparent demand was 741,000 tons, a year-on-year decrease of 0.6%.
In 2022, because the downstream load of spandex is not as good as last year, the demand for spandex will encounter "internal and external troubles", the industry inventory will rise, and the China spandex demand will experience a rare and only negative growth year in history.
The spandex industry is experiencing a new round of industry challenges and opportunities. In the short term, there are pressures such as the concentrated release of production capacity, the pressure of environmental protection policies, and the intensified trend of survival of the fittest in the industry. However, the industry concentration has increased year by year, and the industry's head effect is obvious. In the future, with the change of consumption concept and the upgrade of consumption demand, the differentiated functions of spandex will continue to be enriched, the downstream applications will continue to expand, and the penetration rate in textile products will further increase. In addition, spandex has broad potential for differentiated development. Currently, its application in medical, automotive interior and other industrial fields is relatively small, and it is expected to usher in a broad market space in the future.
Letswin Textile Technology is one of the enterprises with the earliest development and the most mature technology in the China spandex industry. It is also the spandex manufacturer with the largest production capacity in China. It has formed a series of spandex products covering all purposes, such as weft knitting, warp knitting, wrapping, diapers, and ribbons. At the same time, the company's differentiated products such as high-resilience warp-knitted spandex, high-temperature-resistant spandex, super-chlorine-resistant spandex, black spandex, and low-temperature easy-bonding spandex have been highly recognized by the market for their excellent performance. The company's trademark "Letswin" is a famous trademark in Guangdong Province, and "Letswin Brand Spandex Yarn" is recognized as a famous brand product in Guangdong Province by Guangdong Provincial Bureau of Quality and Technical Supervision. The company focuses on direct sales, supplemented by distribution, and has established a complete domestic and foreign sales network and after-sales service system.
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