Hyosung, a South Korean leader in textile business, has expanded in Brazil and Turkey to better serve clothing brands which rely on European and South American textiles in their performance material development.
The company is expanding its creora elastane manufacturing facility located in Araquari (SC), Brazil and Cerkezkoy, Turkey.
The expansion plans have come after the steep demand for elastane in the global clothing sector due to consumers’ pick for comfort and athleisure segment in wake of pandemic.
According to an earlier report of Wood Makenzie, a consulting firm, the demand for elastane has been growing by 9 per cent per annum, which is more than three times of the growth rate (2-3 per cent) of standard apparel fibres.
Hyosung reports that the expansion project in its Brazil facility increases elastane capacity to 22,000 metric tonnes from current capacity, which is 12,000 metric tonnes, after its completion by mid-2022.
The Turkey project is expected to be completed by Q3 ’21, which will surge its elastane capacity to 40,000 metric tonnes from 25,000 metric tonnes annually.
Hyun-Joon Cho, Chairman, Hyosung, commented, “We’re proud to make our presence stronger in the premium textile markets of South America and Europe with this expansion in Brazil and Turkey, which are production bases for our regional South American and European customers. We will continue supporting these markets by providing innovative solutions, which Hyosung is known for.”