Key Developments
Major companies operating in the market are adopting various strategies such as mergers & acquisitions and new product launch in order to maintain their position in competitive business environment.
For instance, In October 2015, Toray’s ecodear PET partially plant-based polyester fiber obtained world’s first production certificate under type I Environmental Label (Eco Mark).
In April 2016, Oerlikon, global leader in surface solution, material processing, and advanced materials, signed an agreement to acquire the staple fiber technology portfolio of Truetzschler Group, a leading manufacturer of nonwovens & man-made fibers.
On 19th November 2019, Songwon Industrial Co., Ltd., a leading manufacturer and supplier of specialty chemicals for textile industry, has entered into a strategic co-operation agreement with JiangSu Uniwel Chemistry Co., Ltd. to expand the company product portfolio and global presence.
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