Hyosung Advances its Global Spandex Leadership Position with Investment in Brazil and Turkey Facilities
News & Events | December 8, 2020
Expansion projects to increase annual spandex capacity to support South America and Europe’s premium textile markets
December 8, 2020; Seoul, South Korea – The demand for spandex in the global apparel market continues to grow due to consumer popularity of comfort and athleisure wear, which happen to be garments of choice as people are spending more time at home in the wake of the pandemic. According to global research and consulting firm, Wood Makenzie’s April 2020 report, spandex demand has been growing by 9%, which is more than triple the growth rate of general apparel fibers, which grow 2 to 3 percent annually.
To better serve apparel brands who rely on South American and European-made textiles in the development of their performance materials, Hyosung is expanding its creora® spandex manufacturing facility based in Araquari (SC) Brazil and in its creora® spandex manufacturing facility based in the Cerkezkoy area of Turkey.
According to Hyosung, the expansion project in its Brazil-based facility, which was established in 2011, will allow the plant to increase annual spandex capacity from 12,000 metric tons to approximately 22,000 metric tons. Completion of the project is scheduled for mid-2022.
The company’s Turkey-based expansion, which is expected to be complete by the third quarter of 2021, will allow this facility to increase annual spandex capacity from 25,000 metric tons to 40,000 metric tons.
“We are proud to strengthen our presence in the South American and European premium textile markets with the expansion of our plants in Brazil and Turkey, which are production bases for our regional South American and European customers,” said Hyun-Joon Cho, Hyosung Chairman. “We will support these markets by providing ongoing innovation and solutions, which Hyosung is known for.”
To provide faster product delivery and reduce its carbon footprint, Hyosung has strategically expanded its manufacturing network to serve clients on each continent since its start in Korea in 1992. In 1999, the company expanded into China, and now has bases in Brazil for the Americas, India for emerging Asian markets, Vietnam for the rest of Asia, and Turkey for Europe.
With a current production capacity of approximately 340 thousand tons per year, Hyosung is the leading producer of spandex, supplying approximately one-third of the world’s spandex. The company’s most recent stretch solutions include new GRS-certified creora® regen made with 100% recycled reclaimed waste, creora® Color +, dyeable spandex for extraordinary colors in blends with natural blends, and creora® 3D Max, for denim you want to live in.
# # #
Hyosung is a comprehensive fiber manufacturer that produces world-class products, providing innovation and solutions to the textile industry. Hyosung’s creora® spandex is the world’s largest spandex brand, supplying the broadest range of stretch fiber offerings supported by exceptional technology and quality. Mipan® nylon and specialty polyester provide functional and sustainable fiber solutions that are essential to today’s dynamic textile market. Visit our blog at blog.hyosungtnc.com for all the latest trend, event and product updates. Hyosung can also be found on Instagram @hyosung_textiles and on LinkedIn at Hyosung Performance Textiles.