Hyosung TNC announced that it plans to establish a global local production system for diaper-use spandex by expanding machinery/facilities, including polymerization processes, at its spandex plants in India and Türkiye by February next year.
CEO Chi-hyung Kim of Hyosung TNC, said, “Creora has maintained its unrivaled global No. 1 position based on its global production network in S. Korea, China, India, Vietnam, Turkmenistan, and Brazil.” He added, “We will continue to lead the global market with a stable supply chain and optimized quality to meet rapidly increasing demand in the diaper spandex field.”
The purpose of this investment is to enhance supply stability in response to the rapidly increasing demand for diaper-use spandex in the global markets of Europe, the Middle East, and Africa as well as India’s domestic market.
Hyosung TNC plans to ramp up diaper-use spandex production by a total of 11,000 tons until 2026 by expanding the India and Türkiye-based production plants, which currently have an annual production capacity of 73,000 tons.
Expanding in India & Türkiye
With this investment, Hyosung TNC will expand its overall production capacity of diaper-use spandex, which had been producing diaper-use spandex at just a few plants, such as Gumi in Korea and Zhuhai and Jiaxing in China, to its newer plants in India and Türkiye.
This move is prompted by the increased demand from global customers for establishing a stable supply chain in the local or nearby region as the supply chain has become unstable in the aftermath of the global pandemic and the Ukraine-Russia War.
With this facility investment, Hyosung TNC is well poised to respond promptly by ramping up production and supply pace that caters to the market needs. In addition, the company plans to expand its market dominance by reducing direct production costs such as logistics costs and tariffs.
