Hyosung TNC Posts 97% Profit Jump, Weighs Bio-Spandex Scale-Up in Vietnam

Hyosung TNC's preliminary third-quarter operating profit rose 97% year on year, while revenue also climbed 97% annually but declined from the second quarter, B2B Marketplace reported. The South Korean spandex maker's nine-month profit rose 97%.

Hyosung TNC's Quarterly Spandex Performance

Hyosung TNC's preliminary third-quarter revenue fell from the second quarter, and operating profit was lower sequentially as well. Spandex volumes declined after second-quarter restocking, and prices stayed flat rather than falling.

Brands can now assess certified lower-carbon spandex from the company's bio-based production chain. Hyosung TNC's position in Vietnam's elastane hub was noted alongside that chain as a key factor in the results.

Stretch-fabric mills, denim and activewear manufacturers should not expect immediate relief in spandex costs, according to the report. It said they should consider securing supplies for the first half of 2027 and monitor feedstock prices such as BDO, MDI and PTMEG for early signs of price changes.

Brands with emissions targets can evaluate the certified lower-carbon spandex, the report said. It added that they should review carbon-footprint data expected in the first quarter of 2027, verify certifications and avoid large commitments until production volumes are established.

Hyosung TNC's Vietnam Bio-BDO Investment

Hyosung TNC is the world's largest spandex manufacturer by market share, according to akta.pro company records. The same records show a nearly $1 billion investment in a fully integrated Vietnam system that converts sugarcane into Bio-BDO, Bio-PTMG and Bio Spandex within one connected value chain.

The Vietnam plant has an initial annual capacity of 50,000 tonnes, with infrastructure designed to scale to 200,000 tonnes per year, the records show. Hyosung TNC began supplying Bio-BDO from the plant in May 2026 as it prepared for industrial-scale production.

Earlier Steps Toward Bio-Based Spandex

Hyosung TNC began commercial bio-BDO production in Vietnam, completing an integrated network from sugarcane to bio-based spandex, PR Newswire APAC reported in October 2026. The facility has 50,000 metric tons of annual capacity, with a planned $1 billion investment to expand to 200,000 metric tons.

At the Sourcing Journal Fall Summit in October 2026, Hyosung TNC announced its expansion of bio-based spandex and a partnership with Czarnikow that cuts carbon emissions by an estimated 45% versus conventional spandex, WWD reported. In August 2026, Businessoffashion reported that Hyosung was preparing to launch commercial production of sugarcane-based bio-spandex at the Vietnam facility starting in late 2026.

Audited Results Due in November

The report said audited November 2026 results are due, alongside fourth-quarter margins and progress in scaling up bio-based production.