The Hyosung company, South Korea, had invested in Turkey and Brazil to enhance its production capacity of elastane fibers.
The company’s Turkey-based expansion is expected to be complete by the third quarter of 2021. On the other hand, the expansion in Brazil is expected to complete in mid of 2022.
According to global research and consulting firm Wood Makenzie’s April 2020 report, elastane demand has been growing by 9%, which is more than triple the growth rate of general apparel fibers, which grow 2-3% annually.
The demand for elastane 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.
Hyosung is expanding its creora elastane manufacturing facility based in Araquari (SC) Brazil and Turkey’s Cerkezkoy area. Brazil’s expansion will allow the plant to increase annual elastane capacity from 12,000 metric tons to approximately 22,000 metric tons.
Similarly, with Turkish expansion, annual elastane capacity will increase from 25,000 metric tons to 40,000 metric tons.
Hyosung is a comprehensive fiber manufacturer that produces world-class products, providing innovation and solutions to the textile industry. Hyosung’s creora elastane is the world’s largest elastane brand, supplying the broadest range of stretch fiber offerings supported by exceptional technology and quality.
With a current production capacity of approximately 340 thousand tons per year, Hyosung is the leading producer of elastane, supplying approximately one-third of the world’s elastane.
