November 18, 2021, Zhuji - the world's leading specialty chemicals company Huntsman Group and the world's spandex industry leader in Zhuji Huahai Spandex Co., Ltd. signed a strategic cooperation agreement to build a long-term partnership and jointly launched the "Green Spandex" project , To join hands to promote the green and low-carbon development of the spandex fiber industry. In this cooperation, Huntsman has "materials and knowledge" and "provides valuable advice". It will not only customize and improve its green and low-carbon innovative product-Teluoyouâ„¢ polyester polyol, to meet the requirements of the development of new green spandex products. Requirements, and will directly participate in the specific research and development of green spandex, and promote the green transformation of China's spandex industry.
Huntsman and Huahai Spandex Strategic Cooperation Signing Ceremony
At present, China is the world's largest producer and consumer of spandex. In recent years, due to the impact of the vigorous downstream textile and clothing production and the growth of the epidemic prevention and control materials on the marginal demand for spandex, the market for products with high spandex content has continued to expand. In 2021, the demand for spandex in the apparel sector will naturally increase by 16%. Driven by demand, the annual production capacity of spandex is expected to exceed one million tons in 2021, and it is showing a basic trend of leading enterprises to drive the main production capacity expansion. Huahai Spandex Company ranks among the top in the world in spandex production capacity and is a veritable industry leader.
[1] Data source: "Spandex Industry Research Report: Demand Drives Spandex into the Long Business Cycle", Guosen Securities
[1] Data source: "China's Spandex Industry Market Supply and Demand Pattern and Industry Outlook Report 2021-2026", Huajing Industry Research Institute
In this regard, Pan Lumin, President of Huntsman Polyurethanes Asia Pacific, said: “The spandex industry is one of the engine industries for the next round of consumption upgrading. Its own high-quality and low-carbon development will profoundly affect the textile industry and even the consumer goods industry. Among them, the leader The company will play a vital leading role. We are very pleased to cooperate with Huahai Spandex, a leading company in the industry, to jointly expand the green potential of spandex from customers to partners. Huntsman will provide customized raw materials for the development of green spandex. We will jointly develop the final product with Huahai Spandex to empower the green upgrade of the spandex industry and contribute to the achievement of the dual-cycle pattern and dual-carbon goals."
Ms. Cai Hanye, Vice Chairman of Huahai Spandex, said: “The spandex industry is not only a new force in consumption upgrades, but also a pioneer in low-carbon transformation. Joint research and development with partners who master core technologies will greatly accelerate the advent of new low-carbon products. It will greatly improve the technical level of local enterprises. The cooperation between Huahai Spandex and Huntsman, a well-known innovative company in the polyurethane industry, is not only a deepening of the existing cooperation between the two parties, but also a joint advancement in the industry's cutting-edge exploration. We look forward to it. This cooperation has achieved a major breakthrough in the field of green spandex. It not only provides consumers with high-quality and environmentally friendly green products, promotes consumption upgrades, but also promotes cost reduction and efficiency reduction and carbon reduction in the spandex industry, and promotes the green upgrade of the spandex industry and the textile industry. , To make due contributions to the realization of the dual-carbon goal."
Prospering with the times, adding green to alcohol-green technology empowers the butterfly change of the spandex industry
In the post-epidemic era, the consumption upgrade with health, comfort and green environmental protection as its core needs not only makes the transformation and upgrading of the consumer goods industry imminent, but also makes traditional accessory-based products move from the edge of the industry to the center of the stage. Benefiting from the upgrading of consumption, as a kind of synthetic fiber, spandex has been added to textile fabrics with a higher and higher proportion of its excellent performance, making it no longer a "MSG condiment" in fabric manufacturing, but has gradually become An indispensable key material in textile-based end products. The spandex industry is not only a sunrise industry that stands at the forefront of consumption upgrades, but also a key industry that promotes consumption upgrades.
Opportunities and challenges coexist. While China's spandex industry is developing rapidly, it is also facing structural problems such as large but not strong industries and new development requirements for low-carbon upgrading. On the one hand, the spandex industry needs to further implement the “three-product†strategy of deepening consumer products (increasing varieties, improving quality, creating brands), improving quality and efficiency, optimizing the supply side to stimulate market demand, and boosting the domestic and international dual-cycle On the other hand, the spandex industry also needs to use green products as a starting point to drive the industry's green and low-carbon transformation and help China achieve its dual-carbon goals as soon as possible. Therefore, how to combine the two organically to create a "green top grade" has become the top priority of the spandex industry.
In view of this, Huntsman actively expands the application boundary of its low-carbon solutions, and develops customized Teluoyou™ polyester polyol products for Huahai Spandex, so that the green special spandex products have better performance and lower performance. Its carbon footprint gives customers more competitive advantages, which in turn empowers the green upgrade of the spandex industry. The main raw materials for traditional spandex production are PTMEG (polytetramethylene ether glycol)1 and pure MDI (diphenylmethane diisocyanate)2. This cooperation will introduce Teroyou™ produced by Huntsman’s proprietary process. Polyester polyol products, up to 60% of its ingredients come from recycled PET plastic. The introduction of green and renewable materials in the spandex industry relies on a low-carbon and plastic-reducing circular economy model. In 2020, Huntsman formally put into production the Asian polyester polyol plant. Its recycling of PET materials through chemical degradation process is equivalent to recycling 440 million 500ml PET plastic bottles each year, which not only realizes the large-scale production of green materials, but also promotes Recycling of waste plastics and reduction of plastics and carbon. At the same time, it formed a green upstream and downstream supply chain system with the Tianjin System Material Factory, which completed trial operation in the same year, and built a green value chain from source to product. This material innovation in the spandex industry not only lays a solid foundation for spandex products to be green and recyclable, but also provides a realistic path for spandex manufacturers to participate in the circular economy.
Gathering strength to prosper, to deep and green-symbiosis and co-creation to shape the future of downstream
In addition to green technology, this strategic cooperation is a full manifestation of Hunts's strategic determination and determination to develop downstream. Huntsman actively explores the possibility of deepening cooperation with downstream customers, taking customer value as a strategic starting point, and taking industrial development goals as the main point of action. Through innovative cooperation focusing on breakthroughs in the forefront of the industry, we will work with customers to create a green blueprint and create a mutually beneficial symbiosis. Partnership to shape the future of the industry.
Green technology goes hand in hand with Yuanwisdom. Relying on strong scientific and technological research and development capabilities, Huntsman will not only work with Huahai Spandex to create raw material products that meet the requirements of green spandex, but also directly participate in the joint research and development of the final product-green special spandex, to provide for the success of this strategic cooperation All-round escort. Joint research and development based on green and low carbon has always been one of Huntsman’s magic weapons for downstream expansion. The innovative solutions jointly developed by Huntsman and customers have blossomed in the home, construction and cold chain industries and become consumers. The inexhaustible source of a good life.
1 PTMEG: Polytetramethylene ether glycol, as the main raw material for the production of new textile materials, spandex and high-grade polyurethane elastomers, is widely used in emerging fields such as textiles and chemical fibers
2 MDI: Diphenylmethane diisocyanate, chemical raw materials are widely used in the manufacture of microporous elastomers, thermoplastic elastomers, castable elastomers, artificial leather, synthetic leather, adhesives, coatings, sealants, etc.
About Huntsman
Huntsman Group is a publicly listed global specialty and specialty chemicals manufacturing and sales company. The operating income in 2020 will be approximately USD 6 billion. The group produces a wide variety of chemicals, and our products are sold all over the world and are widely used in various consumer and industrial end markets. Huntsman operates more than 70 production, R&D and operation organizations in about 30 countries around the world, and the group has about 9,000 employees in 4 business divisions. To learn more about Huntsman, please visit the group website.
About Huahai Spandex
Zhuji Huahai Spandex Co., Ltd. was founded in 2003. It is a high-tech enterprise technology and a leading industrial enterprise in Shaoxing City that has been engaged in the research and development, production, sales and technical consulting services of differentiated spandex fibers for many years. Currently, spandex production capacity ranks among the top in the world. Huahai Spandex adheres to the service tenet of "Quality First, Customer First", and has passed Cleaner Production, Sunflower Certification, ISO9001 Quality Management System Certification and ISO14001 Environmental Management System Certification.
Forward-looking statements: The non-historical statements contained in this press release are forward-looking statements of the company. The statements in these manuscripts are based on management’s current views and expectations. The forward-looking statements in the manuscript are affected by uncertainties and changes in the environment, and include those that may affect the company’s operations, marketing, products, services, prices, and Huntsman’s documents filed with the US Securities and Exchange Commission. Risks and uncertainties of other factors. Significant risks and uncertainties may involve, but are not limited to, financial, economic, competitive, environmental, political, legal, regulatory and technical factors. If circumstances change, the company has no obligation to update these forward-looking statements, unless applicable laws provide otherwise.
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