Major events of Chinese spandex market in 2025

In 2025, the supply-demand relationship in the spandex industry remains under pressure, with structural contradictions persisting. On the supply side, affected by previous market adjustments, some capacity expansion projects have been postponed to this year for commissioning. The industry's new capacity is likely to maintain a high growth rate of 13.1%, and the capacity put into operation is mostly concentrated in the second half of the year. Although industry integration continues to advance, the shutdown of some enterprises has kept the overall operating rate at a low level, and the inventory has also dropped significantly compared with the previous period, the demand growth rate still lags behind the pace of supply expansion, leading to a further narrowing of the price difference and cash flow of spandex products compared with the same period of last year.

Raw material section

1. Successful commissioning of the gas-phase heat recovery and utilization project for the formaldehyde circulation tower of Chiyuan Chemical's BDO plant

On February 24, the gas-phase heat recovery and utilization project for the formaldehyde circulation tower of Chiyuan Chemical's BDO plant was successfully put into operation, marking the world's first successful application of the pressurized heat pump distillation latent heat energy-saving technology in the formaldehyde circulation tower under the "acetylene-aldehyde BDO process".

2. Yuxin Co., Ltd. adjusts fund-raised investment projects: termination of PBS plant and reconstruction into BDO plant

In April, Yuxin Co., Ltd. announced its plan to adjust the Phase I of the Light Hydrocarbon Comprehensive Utilization Project, a fund-raised investment project. The company intends to terminate the construction of one set of 60,000 tons/year PBS plant and one set of 360 tons/year maleic anhydride catalyst plant. Meanwhile, it will reconstruct the maleic anhydride hydrogenation plant (with a capacity of 130,000 tons/year BDO and 190,000 tons/year DMS) into a 200,000 tons/year isopropyl acetate and hydrogenation plant, as well as a 300,000 tons/year ethyl acetate plant.

3. BASF completes equity divestment of two joint ventures in Xinjiang

On April 22, BASF completed the equity sale of its two joint ventures in Korla, China-BASF-Markor Chemical Manufacturing (Xinjiang) Co., Ltd. and Markor Meiou Chemicals (Xinjiang) Co., Ltd.-to Singapore-based Verde Chemical Pte. Ltd.

4. EU initiates anti-dumping investigation into Chinese imports of 1,4-butanediol

On June 6, the European Commission issued an announcement stating that it has initiated an anti-dumping investigation into 1,4-butanediol originating from China, Saudi Arabia, and the United States, in response to an application filed by INEOS Solvents SA on April 3, 2025. The EU Combined Nomenclature (CN) codes of the products involved in the case are 29053926 and 29053928. The dumping investigation period of this case is from January 1, 2024 to December 31, 2024, and the injury investigation period is from January 1, 2021 to the end of the dumping investigation period. The preliminary ruling of this case is expected to be issued within 7 months, with a maximum extension of up to 8 months.

5. Tond Chemical increases investment in BDO-PBAT integrated project

According to an announcement released on August 26, the 14th meeting of the 8th Board of Directors of Tond Chemical reviewed and approved the "Proposal on Increasing the Investment Amount of the PBAT New Material Industry Chain Integrated Project", agreeing to raise additional investment for the project. The adjusted total investment of the project amounts to 3.479 billion yuan.

6. U.S. issues preliminary anti-dumping ruling on Chinese Imports of Methylene Diphenyl Diisocyanate (MDI)

On September 16, the U.S. Department of Commerce issued an announcement, releasing a preliminary anti-dumping ruling on imports of methylene diphenyl diisocyanate (MDI) originating from China. The ruling determined that the dumping margins of the Chinese enterprises involved in the case range from 376.12% to 511.75%.

7. BASF to open licensing of advanced PolyTHF®1800 production technology to customers and partners

In November, BASF will start offering licensing of its advanced PolyTHF®1800 production technology to customers and partners. As a leader in PolyTHF technology development, BASF operates three major production bases worldwide, located in Caojing, Shanghai (China), Ludwigshafen (Germany), and Geismar (the United States).

Spandex section

1. "Anti-involution" policies deepen supply-side reform

Since 2024, China has successively issued multiple policies against "involutionary" competition, and the anti-involution policies continued to be intensified in 2025. In essence, the national supply-side anti-involution policies for the chemical industry aim to suppress inefficient expansion, redundant construction and vicious competition by deepening supply-side structural reform, drive the transformation of the chemical industry towards high-quality development, and achieve industrial upgrading, green low-carbon development as well as safety and controllability.

2. Hyosung Spandex

2.1 Hyosung bio-based spandex partners with Dutch high-End men's underwear brand "Van Harvey"

In March, Hyosung TNC teamed up with Dutch high-end men's underwear brand "Van Harvey" to commit to the sustainable underwear market. "Van Harvey" is dedicated to sustainable innovation, focusing on the production of high-end eco-friendly men's apparel and minimizing environmental impact as much as possible.

2.2 Hyosung Spandex and Yatai forge strategic cooperation

In September, Hyosung Spandex, a leading enterprise in the spandex industry, officially signed a strategic cooperation agreement with Yatai, a well-known manufacturer of spandex-covered yarn and fabrics. The two parties will carry out in-depth cooperation in multiple dimensions including spandex material R&D, supply chain collaboration and market expansion, to jointly drive the high-quality development of the textile industry. As a model achievement of their technological cooperation, two types of CREORA®HighPower&Recovery high-resilience spandex woven fabrics co-developed by Hyosung and Yatai have gained widespread market recognition.

2.3 Hyosung Spandex: Where bio-based technology meets sports aesthetics

As the global fashion and sports industries accelerate their sustainable transformation, Hyosung Spandex has joined hands with PANGAIA, a UK-based eco-friendly materials science company, to deliver a groundbreaking solution-the 365 Seamless Sportswear Collection. This collection is not only an innovation in high-performance sportswear, but also a "green revolution" against traditional synthetic materials: using plants as the source and technology as the medium, it achieves a leap from fossil fuels to renewable resources.

3. Xinxiang Chemical Fiber

3.1 Xinxiang Chemical Fiber's "Bailu" brand included in the first batch of China Consumer Famous Brands List

In April, the Ministry of Industry and Information Technology publicized the first batch of China Consumer Famous Brands List, and Xinxiang Chemical Fiber Co., Ltd. was successfully selected as a "Product of the Times", becoming one of the 14 listed brands in the textile industry and 6 in Henan Province. Following its selection into the first batch of Henan "Meiyu Famous Brands" and "Henan Provincial Innovative Leading Enterprises" earlier this year, this marks another highlight moment for Xinxiang Chemical Fiber, adding a national-level brand credential. It is not only a recognition of the company's products, but also a strong guarantee for the "Bailu" brand and its quality.

3.2 Xinxiang Chemical Fiber successfully hosts seminar on innovation and sustainable development of next-generation green fibers

On August 28, Xinxiang Chemical Fiber Co., Ltd. successfully held the "Seminar on Innovation and Sustainable Development of Next-Generation Green Fibers" with the theme of "Innovation Breaks Boundaries to Weave a Greener Future, Fibers Lead the Way for a New Chapter".

3.3 Xinxiang Chemical Fiber wins Bronze Award in Domestic Competition of BRICS Industrial Innovation Competition

On September 20, at the "2025 Industrial Green Development Conference and Xinfa Group Industrial Practice Exchange Meeting" held in Liaocheng, Shandong Province, the company was awarded the Bronze Award in the domestic competition of the "Green Industry" track of the 2025 BRICS Industrial Innovation Competition for its independently developed project "Global Pioneering Giant Reed Comprehensive Utilization Technology-High-Value Comprehensive Utilization and Demonstration Innovation Development Project Based on Biomass Giant Reed". This fully demonstrates the company's continuous dedication in the field of green fiber technology and its firm commitment to promoting green transformation and development.

4. Huafon Chemical

4.1 Partial renovation of Huafon Chongqing Spandex's medical supplies spandex industrialization project completed and mass production achieved

In March, to meet the growing demand in the medical supplies sector and enhance corporate competitiveness, Huafon Chongqing Spandex Co., Ltd. achieved phased progress in its medical supplies spandex industrialization project. It was reported that the partial renovation of the project has been completed and mass production has been realized, marking a solid step forward in the industrialization process of Chongqing Spandex in the medical supplies field. In recent years, driven by the continuous growth of demand in the medical supplies sector and to meet the supply guarantee needs of core customers such as Procter & Gamble and Kimberly-Clark, Huafon Chemical decided to establish a medical supplies production base in Chongqing to ensure the stability and flexibility of the supply chain.

4.2 Huafon Chemical formally establishes strategic cooperation with multinational enterprise Eastman

On August 13, Huafon Chemical, a world-leading new material manufacturer, formally entered into a strategic cooperation with Eastman Chemical Company, a global specialty materials manufacturer from the United States. The two parties plan to establish a joint venture to produce and develop Eastman's Naia™cellulosic acetate filament fibers. This also marks the first localized production of Naia™cellulosic acetate filament fibers in China, improving the supply chain of the fiber in China and better meeting the market demand for high-quality innovative materials in China and the Asia-Pacific region.

4.3 Huafon Chemical's 75,000 tons of spandex capacity completed and put into operation successively

Partial capacity of the 250,000 tons/year differentiated spandex expansion project, a fund-raising project of Huafon Chongqing Spandex, a subsidiary of Huafon Chemical, has been completed. Among them, 100,000 tons were officially put into production in 2024, and recently 75,000 tons of capacity have been successively completed and put into operation. The remaining 75,000 tons of capacity are still under construction and are expected to be completed and put into operation successively by the end of December 2026.

4.4 Huafon Chongqing wins first prize for Industry Technological Progress

On November 28, the 2025 China National Textile and Apparel Council (CNTAC) Science and Technology Award Conference was held in Beijing, honoring the winning organizations and individuals of the annual CNTAC Science and Technology Award. The event marked an innovative footnote for the successful conclusion of the 14th Five-Year Plan and gathered scientific and technological strength for the kickoff of the 15th Five-Year Plan. Among the award-winning projects, the "Development and Industrialization of Key Technologies for Intelligent Manufacturing of Large-Capacity, Porous and High-Speed Spandex", jointly developed by Huafon Chongqing Spandex Co., Ltd., Huafon Chemical Co., Ltd., Donghua University and Southwest University, won the first prize for Technological Progress of CNTAC due to its groundbreaking innovations in the entire spandex production chain, becoming a benchmark achievement leading the spandex industry towards green and intelligent transformation.

5. Tayho Advanced Materials

5.1 Tayho Advanced Materials successfully selected into the Second Batch of Pilot Enterprises for synergistic innovation of pollution reduction and carbon reduction in Shandong province

In January, Tayho Advanced Materials was successfully included in the second batch of pilot enterprises for synergistic innovation of pollution reduction and carbon reduction in Shandong province. A total of 17 projects for synergistic innovation of pollution reduction and carbon reduction were declared, covering energy conservation and consumption reduction, energy structure optimization, waste resource utilization, digital empowerment and other aspects.

5.2 Smooth convening of the Garment Internal Promotion Conference of Tayho Advanced Materials Advanced Textile Business Group

On the afternoon of January 22, the Garment Internal Promotion Conference of Tayho Advanced Materials Advanced Textile Business Group was held in Yantai. Leaders including Chi Haiping, Deputy Secretary of the Party Committee and President of Tayho Advanced Materials, and Ma Qianli, Vice President of Tayho Advanced Materials attended the conference, which was hosted by Sun Qiancheng, General Manager of the Marketing Center of the Advanced Textile Business Group. A total of 20 eco-friendly ready-made garments, including winter, summer, spring and autumn clothing, were displayed at this internal promotion conference.

5.3 Two fabrics under Tayho Advanced Materials win Excellence Awards at China Popular Fabrics Selection

In September 2025, the results of the China Popular Fabrics Selection were officially announced. Two fabrics under Tayho Advanced Materials Group Co., Ltd. (hereinafter referred to as " Tayho Advanced Materials ")-"Suqing Fusheng Brocade Net" and "Degradable Section-Dyed Fabric"-won the Excellence Award of China Popular Fabrics. In the future, Tayho Advanced Materials will continue to increase R&D investment in environmentally friendly new materials and green technologies, launch more fabric products with both environmental protection properties and market competitiveness, provide downstream customers with higher-quality and more sustainable solutions, and accelerate the transformation of the entire textile industry towards the direction of "low carbon, environmental protection and circularity".

6. LYCRA Company

6.1 Commissioning of phase I 30,000tons/year spandex project of Yinchuan LYCRA

On August 26, the Phase I 30,000 tons/year spandex project of Yinchuan LYCRA, located in the Suyin Industrial Park, was officially put into production. Co-constructed by Yinchuan Shengrong Investment Co., Ltd. and LYCRA Company of the United States, the project has efficiently revitalized existing assets by introducing brands, technologies and professional teams.

6.2 LYCRA Company leads the green transformation of the fashion industry and showcases new achievements in sustainable fibers

In September, at the intertextile Shanghai Autumn/Winter Fabric and Accessories Exhibition held in Shanghai, LYCRA Company, a world-leading enterprise in fiber technology innovation, with the theme of "Accelerating the Decarbonization Journey", joined hands with 25 value chain partners to jointly showcase its latest achievements in the field of sustainable development. As a pioneer in the industry, LYCRA Company has not only demonstrated its firm commitment to environmental protection, but also promoted the green transformation of the fashion industry through practical actions. At the exhibition site, LYCRA Company grandly launched the industry's first commercially available renewable spandex fiber-the bio-based LYCRA®fiber made from QIRA®. This innovative product was expected to be launched in the first half of 2025. Its raw materials are derived from annually planted industrial corn, which can significantly reduce the carbon footprint by 44% while maintaining the excellent performance of LYCRA®fiber. In addition, environmentally friendly fibers such as LYCRA®FiT400 fiber, COOMAX®EcoMade and THERMOLITE®EcoMade also made their debuts. All of them adopt a high proportion of recycled materials or bio-based raw materials, bringing more environmentally friendly options to the fashion industry.

6.3 LYCRA Company's world's largest spandex production base grandly opens in Yinchuan

On November 7, LYCRA Company, a leading provider of innovative and sustainable fiber solutions for the global apparel and personal care industries, announced the official opening of its world's largest spandex production base-LYCRA Fiber (Yinchuan) Factory. The opening of the Yinchuan factory not only marks that LYCRA Company's continuous investment in China has reached a new level again, but also demonstrates the company's firm commitment to the construction of local supply and marketing networks and the upgrading of intelligent manufacturing.