Huafon Chemical Co., Ltd., HYOSUNG TNC, Yantai Tayho Advanced Materials Co.,Ltd are dominating the Asia-Pacific Spandex Market in 2022

Asia-Pacific Spandex Market is expected to grow with the CAGR of 6.2% in the forecast period of 2022 to 2029. The years considered for study are as mentioned below.

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Asia-Pacific spandex market is a highly consolidated market, which includes specific number of key players as well as local players. The market has witnessed increased strategic developments owing to favourable market scenario.

The major players dealing in Asia-Pacific spandex market are introducing strong range of product portfolio. This helped companies to maximize the sales with enhanced product portfolio.

For instance,

  • In August, Hyosung TNC signed a MOU on Gwangyang Bay Resources Circulation Project. The MOU signed companies established a circulation system that bolsters sustainable consumption and production by recycling waste resources. Hyosung TNC will produce recycled fiber Regen with the waste PET bottles.
  • In October 2021, Huafon Chemical greatly showed up together with five well-known domestic yarn and fabric suppliers. It brought the forum with the theme "New Materials, New Life-Display of Recent Achievements in Qianxi Spandex Research and Development" for downstream enterprise representatives, brands, and purchasers of an industrial chain.

The development and promotion of new products in the exhibition result in the cooperation between different fabric suppliers in the market.

Huafon Chemical Co

Huafon Chemical Co is headquartered in Zhejiang, China as public ownership it was founded in 1999. The company engages in manufacturing of high-tech fibers and new materials. The company have several product category which are Qianxi Spandex, Differentiated Spandex, The Developing Product and Qianxi Spandex, Differentiated Spandex, The Developing Product are focused product category. The company has wide Asia-Pacific presence. Company have subsidiaries which are Zhejiang Huafon New Materials Co., Ltd. (China), Liaoning Huafeng Chemical Co., Ltd. (China), Huafon Chongqing Spandex Co., Ltd. (China)

  • In November 2021, Zhejiang Manufacturing Standard formulated by Huafon Chemical released Colored Spandex Filament T / ZZB 2535-2021. The standard puts forward stricter requirements for producing and inspecting colored spandex filaments from the four aspects of excellent quality and independent innovation.

This will help the company improve the industry manufacturing standard and expand the brand effect of "Made in Zhejiang," and stimulate the company's innovation driving potential, increasing the application of new technologies, new methods, and new ideas and expanding the sustainable competitive advantage.

Asia-Pacific Spandex MarketHYOSUNG TNC

HYOSUNG TNC headquartered in Seoul, South Korea and it was founded in year 1957 as public ownership. The company engages in manufacturing of products such as nylon, polyester yarn, textiles, dyed, and processed fabric. The company offers wide range of product categories such as Textile, and Trading out of which Textile is market focused category. The company has presence in North America, Latin America, Europe, Asia-Pacific, Middle East and Africa. The company have several subsidiaries which are Hyosung TNS Inc. (South Korea), Hyosung Information System Co., Ltd. (South Korea), AEGIS HYOSUNG Co., Ltd. (South Korea), Hyosung Vietnam Co., Ltd (Vietnam), FMK Corp. (South Korea) amongst others.

  • In August 2021, Hyosung TNC signed a MOU on Gwangyang Bay Resources Circulation Project. The MOU signed companies established a circulation system that bolsters sustainable consumption and production by recycling waste resources. Hyosung TNC will produce recycled fiber Regen with the waste PET bottles.

Yantai Tayho Advanced Materials Co.,Ltd

Yantai Tayho Advanced Materials Co.,Ltd headquartered in Yantai, China as public ownership and founded in 1993. The company engages in maintaining innovation and international advanced industrialization technology of spandex, meta-aramid fiber, para-aramid. The company have product which are Newstar Spandex, Newstar Meta-Aramid fiber, Taparan Para-Aramid, Tametar Anti-Static Fiber, Metastar Aramid Paper, LITME Smart Fiber out of which Newstar Spandex is market focused product. The company has wide Asia-Pacific presence. The company have subsidiaries which are Ningxia Ningdong Taihe New Materials Co., Ltd. (China), Yantai MetaStar Special Paper Co., Ltd.(China), Tayho Advanced Materials Co., Ltd., Ningxia (China).

  • In October 2020, Yantai Tayho Advanced Material Co., Ltd and seven well-known universities and enterprises partnered and set up seven professional laboratories, two R&D centers, four pilot plants, and test platforms to improve the competitiveness of advanced Chinese materials with cutting-edge Asia-Pacific technologies. As the backbone leaders, a research team of more than 100 members is formed with two renowned academicians-Xiaojun Peng and Meifang Zhu.