Latest Industry Updates:
October 2017 Ascend Performance Materials, a fully integrated producer of nylon 6, 6 resin, today announced its plans to increase production capacity across its intermediate chemicals and polymers portfolio by 10 to 15 percent to support the continued growth of its customers. Ascend will increase capacity of adiponitrile (ADN), hexamethylene diamine (HMD), adipic acid and polymers through 2018. Ascend’s unique production process allows for quick capacity additions with high capital efficiency and without disruption to operations.
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June 2017 Reliance Industries said it commissioned its third and last crystallization train at its paraxylene complex at Jamnagar, making the company the biggest manufacturer of the key ingredient used in plastic production. Paraxylene is used to make intermediate chemicals that are then used to manufacture polyethylene terephthalate or PET.
July 2017 The government today gave green signal to Reliance Industries Ltd for expansion of its petrochemical complex in Gujarat, entailing investment of Rs 2,100 crore. Near Hazira in Surat district, the complex comprises of naphtha cracker, feeding downstream petrochemical, fiber intermediates and polyester plants.
Nov 2017 Mitsubishi Chemical Corp. announced that it will invest in an Italian supplier of automotive parts made of carbon fiber-reinforced plastic (CFRP), as part of its efforts to strengthen the carbon fiber business in the U.S. and European markets. Mitsubishi said the investment was being made in light of increasing interest by the automotive industry in using CFRP to develop lighter car parts. Moreover, the investment fits within its policy to strengthen production of intermediate materials.
Fiber Intermediates Market Insights
Fiber Intermediate Market is flourishing as an industry. According to a Market Research Future report on Global Fiber Intermediates Market Research Report- Forecast to 2022 states that the sector will grow at a remarkable pace in terms of revenue generation with an outstanding CAGR percentage by 2022.Since Fiber Intermediate products are extracted from benzene or xylenes which could be processed further to make polymers for synthetic fibers, they have a vast degree of applications.
The boom for Fiber Intermediates can be attributed to their flexibility to be used in products from textiles to automobiles. The Fiber Intermediates Market is currently showing healthy growth with strong demand being evident for this sector. Preference for synthetic materials in various manufacturing sectors are increasing the level of demand experienced in the market. Increased applications developed through extensive research and development have contributed positively towards development of the market. The market however has its major application in the plastic industry in the form of PET bottles and even debit and credit cards. The factors driving this market are investment by manufacturers, easy availability of raw materials, technological advancements, and easy availability of labor. Despite the demand for Fiber Intermediates the factors that may pose challenges in the development are environmental damage caused by products and government regulations.
- DSM Fiber Intermediates
- Reliance industries Ltd
- Fiber Intermediate Products Company (FIPCO)
- Diacel Chemical industries
- Nylacast Limited Company
- Indian Petrochemical Corporation Ltd
- Dalian Richfortune Chemicals Company
Global Fiber Intermediates Market – Segmentation
The Global Fiber Intermediates Market has been segmented on the basis of type, application, end user and region:
By Type: Paraxylene, Polyethylene, Acrylonitrile, Ethylene Glycol and Others
By Application: Textile, Automobile, Petrochemical, Plastic Industry and Others
By End Users: Fabric, Plastic Cards, Disinfectants, Synthetic Fibers and Other
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Fiber Intermediates Market – Competitive Landscape
With the entry of new industry players in the Global Fiber Intermediates Market, a trend of solid, volume-driven growth has been observed in the market with the addition of new and advanced product types in the segment. Companies are aiming to capture & solidify their share of the market segment, by competing and experimenting with various advantage points. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies.
By Region: Asia Pacific, North America, Europe and Row
Geographically, largest polyester consuming market is APAC region. Emerging economies like India, China, and South Korea contribute major in fiber intermediates. North America and Europe show a stable growth. With huge application in end user industries, Fiber Intermediate Market is flourishing industry in coming years if we look at application industry growth individually. Investors have a good opportunity for having a profitable business
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