Industry/ Innovation/ Related News:
January 2017- Mitsubishi Rayon Corp., a Japan based organization announced to acquire SGL Carbon Fibers LLC, a U.S. based company. This strategic acquisition help company to increase its carbon fiber capacity to meet the increasing demand for large tow carbon fiber. Annual production capacity will be increased by 1000 tonnes. With this acquisition the company strengthen its position in North American market.
October 2017- Ascend Performance Materials, a U.S. based manufacturer planned to increase their manufacturing capacity across its intermediates and polymers portfolio in order to meet the growing demand for intermediates across the globe. This project will cost around USD 6.2 Million with capacity of around 11,000 tons per year of stable fiber. This project is expected to be operational in August.
November 2015- Japan based fiber intermediate manufacturer, Mitsubishi Rayon Corporation constructed a new plant in Bavaria, Germany for the manufacturing of sheet molding compound intermediate materials to expand its carbon fiber and composite materials business in Europe. This capacity expansion helped company to raise their production capacity to 9000 tons. With this expansion, the company increase their footprint in Europe.
The Fiber Intermediates report has analysed the level of competition among the key operating players as well as sector growth and market scenario. The global fiber intermediates market comprises of various manufacturers operating in the market which comprised of large scale and medium size manufacturers. Some of the prominent market players operating in the global fiber intermediates industry has shifted their focus towards growth association specifically by Asia Pacific as medium scale and small scale manufacturers are from this region specifically from China, South Korea, India, Indonesia, Thailand, Taiwan, Malaysia, Australia, and Japan. Moreover, the key operating players are focusing on extending their product portfolio by strategic acquisition and mergers, joint ventures, product launches, and exclusive agreements. Some of the companies are escalating their manufacturing capacity of fiber intermediates to meet the growing demand for fiber intermediates. Moreover, some of the manufacturers has launched a series of product to solidify their position in the market.
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Fiber Intermediates Market – Overview:
Fiber Intermediates are those products which are predominantly utilized in numerous applications such as plastic, textile, petrochemicals, automobile, pharmaceutical, and others. Fiber Intermediates market is estimated to witness robust growth due to increasing demand of pharmaceutical and continuous growth of automotive sector across the globe. Moreover, polyethylene and polyvinylchloride (PVC) are widely used in the production of bottles and other non-food packaging products, with this aforementioned reason the market is expected to register strong growth. Moreover increasing automotive production and sales along with the wide utilization of plastic in the manufacturing of automotive components is estimated to propel the growth of the market.
Geographically, Asia Pacific emerged as the largest market for fiber intermediates in 2016 and is predicted to retain its dominance during the forecast years on account of growing demand from petrochemical, automotive, and textile sector. Moreover, the demand for fiber intermediate is expected to surge in various countries of Asia Pacific such as China, India, Japan, Vietnam, Malaysia, Thailand, Taiwan, and South Korea due to high adoption rate from numerous end use industries. In addition, economic growth in this region along with rapid industrialization has resulted in the raised production and sales of passenger cars and light weight vehicles, which is further likely to raise the demand for fiber intermediates in the upcoming years. Moreover, huge investment by major operating players in their Research & Development activities and shifting of fiber intermediates manufacturing facilities as well as significantly increasing end use industries in this region is estimated to drive the fiber intermediates regional market growth. North American market is expected to witness moderate growth due to growing demand from textile and plastic industries. North American market is segmented into U.S. and Canada which are among the major contributor in the regional market growth on account of strong growth of petrochemicals and textile sector. European market is estimated to witness significant growth due to increasing awareness regarding the benefits associated with the products made from fiber intermediates as well as rising consumption of plastic products. Developing countries of the Middle East & Africa and Latin America such as Turkey, Saudi Arabia, the United Arab Emirates, Brazil, Guatemala, and Mexico are estimated to witness above average growth on account of increasing per capita disposable income along with strong consumer base for automotive industry.
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