Merger & Acquisition and Investment & Expansion were Among the Key Strategies Adopted by the Leading Players to Strengthen their Position in the Textile Films Market
The textile films market is projected to grow from USD 4.5 billion in 2018 to USD 6.2 billion by 2023, at a CAGR of 6.6%. The major drivers for the textile films market include increasing demand for hygiene products such as baby diapers and sanitary napkins, growing urbanization, and increasing demand for adult diapers.
Textile films are used in baby diapers, sanitary napkins, medical gowns, gloves, sportswear, rainwear, disposable workwear, and others. Companies such as RKW Group (Germany), Covestro (Germany), Berry Global (US), Mitsui Hygiene (Thailand), Arkema (France), SWM International (US), and Toray Industries (Japan) operating in the textile films market have adopted both organic and inorganic growth strategies such as merger & acquisition, investment & expansion, new product launch, and agreement to serve their customers efficiently and increase their market shares.
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Berry Global (US) has gained a strong foothold in the textile films market. The company has a strong product portfolio of textile films, which find applications in the hygiene, medical, sportswear, and protective apparel applications, among others. The company operates through its various production sites and has extensive R&D infrastructure, which helps the company attain economies of scale. It focuses on innovation, development of customized customer solutions, and consistent customer service orientation to cater to consumer demand and achieve growth in the market. For example, in 2016, Berry invested in the capacity expansion of its hygiene and healthcare segment that would help the company to serve the North American market in a more effective way. In addition, Berry’s acquisition of Clopay Plastic Products, a leading textile films manufacturers, in 2018, has provided an edge in hygiene products sales in the North American market. The company is a major player owing to its market pull and technology push strategies.
RKW Group (Germany) is another major player operating in the market. The company has a strong global presence and offers a wide range of textile films for hygiene and medical applications such as baby diapers, sanitary napkins, surgical drapes, and gowns. The company is focusing on organic growth strategies of new product launch and investment & expansion for increasing its reach and product portfolio and hence, widening its presence in various end-use industries such as healthcare, sports, and construction and increasing its revenue. In October 2016, RKW launched high-performance films, Medicace and Medifol to be used in medical applications such as drapes and gowns. This development helped the company in strengthening its position in the medical sector and, in turn, increase its presence in the textile films market.
Related Reports:
Textile Films Market by Type (Breathable and Non-breathable), By Material (PE, PP, PU, Others), By Application (Hygiene, Medical, Sportswear, Protective Apparel), and Region (North America, APAC, Europe, MEA, and South America)-Forecast to 2023
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