Leading market players are investing heavily in research and development to expand their product lines, which will help the spunbond nonwoven market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the spunbond nonwoven industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the spunbond nonwoven industry to benefit clients and increase the market sector. In recent years, the spunbond nonwoven industry has offered some of the most significant advantages to the healthcare industry. Major players in the spunbond nonwoven market, including Sunshine Nonwoven Fabric Co. Ltd, Fitesa S.A., Radici Partecipaioni SpA, Fiberwebibdia Ltd., Surya Textech, Asahi Kasei Corporation, TORAY INDUSTRIES, INC., DALIAN RUIGUANG NONWOVEN GROUP CO., LTD., and others, are attempting to expand market demand by funding in research and development operations.
Aktieselskabet Schouw & Co. is an industrial conglomerate. The company owns businesses within feed for industrial fish farming, nonwoven textiles for personal care and industrial applications, hydraulic components and solutions for industry, remanufacturing of auto parts, and electronics for business-to-business customers. In September 2020, Schouw & Co. invested USD 40 million to construct two nonwoven production lines in Malaysia and the US. These production lines, set to commence operations by the second half of 2021, will increase the capacity of the company's Fibertex Nonwovens business by 10%.
This development will help Schouw & Co. establish itself as one of the leading players in the market.
Asahi Kasei Corp manufactures and markets chemical products. The company's product portfolio includes acrylonitrile, styrene, diagnostic reagents, foam insulation panels, foundation systems, methyl methacrylate, polyethylene, polystyrene, polymers, functional additives, membrane filtration systems, ion-exchange membranes, medical devices, sensors. It also offers prescription drugs. Asahi Kasei's products find application in chemicals and fibers, electronics, healthcare, and construction. It markets these products under Duranol, Sepacell, Polydurex, Ceolus, Aciplex, and Hipore brands. In March 2019, Asahi Kasei Corporation expanded its spunbond nonwoven materials production capacity at its subsidiary, Asahi Kasei Spunbond (Thailand) Co., Ltd (AKST).
This expansion will be done by adding a new production line with a capacity of 15,000 tons/year of spunbound nonwovens, which is expected to increase the total capacity for spunbond nonwovens at AKST to 50,000 tons/year.