Tianfeng Securities: The demand for spandex is expected to continue to grow.

Tianfeng Securities pointed out that in recent years, there have been two major trends in the demand for spandex: the continuous expansion of application areas and the continuous increase in the proportion of spandex added in downstream fabrics. In 2024, the downstream demand for spandex will remain strong, and with the expansion of downstream applications, the demand for spandex is expected to continue to grow in the future. In addition, differentiated spandex will expand the application areas of spandex from simple knitted fabrics to various aspects such as automotive interiors, medical bandages, healthcare products, and artificial organs. The proportion of differentiated spandex production in China is about 23%, while in developed countries, the differentiation rate of chemical fiber is as high as 60%; the application of differentiated spandex is expected to open up a broader demand space.