New Product Launches and Expansions are the key Strategies Adopted by the Leading Companies in the High Performance Fiber Market.
High performance fibers are fibers that offer excellent heat and chemical resistance. They have high strength and are mainly designed for specialized applications. These fibers are fire resistant, have excellent elongation capability, and offer exceptional robustness. They have increased tension, high level of insulation, and excellent electrical conductivity. Major companies operating in the high performance fiber market include Teijin Ltd. (Japan), E. I. du Pont de Nemours and Company (U.S.), Yantai Tayho Advanced Materials Co., Ltd. (China), Cytec Industries Inc. (U.S.), Mitsubishi Rayon Co., Ltd. (Japan), Owens Corning (U.S.), PBI Performance Products, Inc. (U.S.), Koninklijke Ten Cate NV (Netherlands), Kureha Corporation (Japan), and Toray Industries, Inc. (Japan), among others.
New product launches and expansions are the key strategies adopted by the leading companies in the high performance fiber market. These companies have also invested in R&D activities to strengthen their sales and distribution networks, increase their market visibility, and enhance their position in the market.
Toray Industries, Inc. (Japan) is one of the leading producers of high performance fibers. Toray Industries leads the high performance fiber market due to its global presence and high revenue generated from its fiber business. In June 2016, the company signed an agreement with Airbus (Germany) to increase its supply of TORAYACA prepreg for A380 aircraft and TORAYACA carbon fibers for A330neo. This agreement aims at helping the company to increase its business in the aerospace industry. In February 2016, Carbon Magic Co., Ltd. (Thailand), which is a subsidiary of Toray Industries, expanded its production capacity by opening a new facility in Thailand to manufacture components from Carbon Fiber Reinforced Plastics (CFRP). This expansion helped the company to cater to increasing demand for Carbon Fiber Reinforced Plastic (CFRP) composites from the Asia-Pacific region.
Teijin Ltd. (Japan) is another leading producer of high performance fibers. The company reported maximum number of new product launches between 2013 and 2017 (January). The companies operating in the high performance fiber market have been launching new products to increase their production capacities and sales. New product launches have helped companies to cater to needs of their customers and enhance their product portfolios. In December 2016, the company announced the launch of Xfire DENIM to be used for manufacturing uniforms of fire corps. The sale of this product is expected to take place in 2017.
The new aramid fabric is expected to meet the growing demand for extra-maneuverable clothing for volunteer fire corps. In November 2016, the company completed the purchase of approximately 1.8 million m2 (about 440 acres) of commercial land in Greenwood, South Carolina (U.S.). The company plans to establish a highly-efficient carbon fiber production site at this location to cater to carbon fiber requirements of automotive and aircraft applications.
Related Reports:
High Performance Fiber Market by Type (Carbon Fiber, Aramid, PBI, PPS, Glass Fiber, Ceramics), Application (Electronics & Communication, Textile, Aerospace & Defense, Automotive), Region - Global Forecast to 2021
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