South Korean textile leader, Hyosung has forayed into the Brazil and Turkey markets to better serve clothing brands that depend on European and South American textiles in their performance material development. The company is expanding its creora elastane manufacturing facility in these two markets. The Brazil project will increase its elastane capacity to 22,000 metric tons after completion by mid-2022.
On the other hand, the Turkey project will increase the company’s elastane capacity to 40,000 metric tonne by Q3 ’21. These expansion plans are a result of rising demand for elastane in the global clothing sector due to consumers’ pick for comfort and athleisure segment in wake of pandemic. As per a Wood Makenzie report informs demand for elastane has been growing by 9 per cent per annum, which is more than three times of the growth rate of standard apparel fibers.
