The report is divided into three parts. 

1. The current phase of the spandex market cycle was analyzed from the perspectives of supply trends in the spandex industry, enterprise operations and production, demand trends, changes in imports and exports, price and profitability, and the integration of the industry.

2. The evolution of spandex applications and product development were discussed, illustrating how spandex usage has shifted from intimate wear to casual and diversified applications, from general demand to functional demand, and from niche products to widespread applications. Additionally, differences in spandex production between Jiangsu/Zhejiang and South China were introduced, along with developments in the recycled spandex and differentiated markets.

3. Looking ahead to the future development of spandex, it was noted that overall textile and apparel exports continue to grow this year, driven by the development of the Central Asian market, which has created new growth opportunities for Chinese textile and apparel exports. The analysis focused on industrial support and key products within the major textile and apparel markets, including China, Vietnam, India, Bangladesh, Turkey, and Pakistan, to assess the operational status of global textile and apparel production countries. The current domestic spandex industry still faces challenges such as excessive capacity expansion and difficulty in absorbing new capacity. The report also highlighted that spandex enterprises should focus on development from the perspectives of economies of scale, supporting effects, product effects, and price benefits.