Hyosung TNC goes big on bio-based spandex.

Hyosung TNC, a South Korean chemical company, announced a major investment in the bio-based materials sector with a new $1 billion Bio-BDO plant in Vietnam. This move signals the company's commitment to sustainability and capturing a growing market for eco-friendly textiles.

Bio-BDO, a bio-based alternative to traditionally fossil fuel-derived BDO, will be used to produce regen Bio spandex. BDO is a key raw material for spandex fiber, and Hyosung aims to become the world's first company with a vertically integrated production system for bio-spandex, encompassing everything from raw materials to fiber.

The partnership with Geno, a US biotechnology leader, provides the technology behind this sustainable production process. Geno's BDO technology offers significant environmental benefits, with an estimated 90 per cent reduction in carbon emissions compared to conventional methods.

Hyosung's investment is driven by a recognition of shifting textile market, particularly in Europe and North America, towards sustainable materials. As environmental regulations tighten and consumer demand for eco-friendly products grows, Hyosung aims to position itself as a leader in this space.

The company expects the global sustainable textile market to reach $75 billion by 2030 and plans to increase its sales of sustainable spandex to 20 per cent of its total spandex sales by that year. This represents a significant jump from the current 4 per cent share.

Hyosung's investment in bio-based materials is a strategic move to secure its future in a changing market and aligns with growing consumer and regulatory demands for sustainable products.