Karen McIntyre, Editor09.12.24
Challenging…was the word many nonwovens industry professionals used to describe 2023 in this year’s top companies report. Indeed, most companies have reported lower sales, increased competition and sluggish demand last year, making this year’s summation of the 40 largest players in nonwovens one of the bleakest we’ve ever published here at Nonwovens Industry.
However, that was 2023. This is 2024.
As these executives reported challenges in 2023, most of them are signaling a return to life in the global nonwovens industry for 2024 and beyond. Markets like automotives, filtration, wipes and hygiene are returning to growth and macroeconomic factors like inflation and energy and raw material costs are stabilizing.
Of course, uncertainty remains in the future—the U.S. presidential election, geopolitical tensions, climate change—but many of those doing business in nonwovens remain optimistic and several news items prove this.
Suominen, the leading supplier of nonwovens to the wipes industry, has reported it will invest about $30 million in a new production line in Italy to meet demand for sustainable substrates; Freudenberg Performance Materials has added a new line in Vietnam; and Siteks (a Hassan Group company) is adding a needlepunch line to meet international demand for needlepunched insulation products in the automotive and construction sectors.
While investment has certainly not returned to its heyday of 2020-2021, and most companies are being extremely conservative when it comes to adding lines, they are waiting to see a little stronger growth and a lot less competition before they make that leap.
And, these companies will surely be ready as they have spent this downtime focusing on innovation and process improvements to streamline their operations and make them more environmentally friendly and cost effective.
As always, we appreciate your comments.
Karen McIntyre
Editor
kmcintyre@rodmanmedia.com
However, that was 2023. This is 2024.
As these executives reported challenges in 2023, most of them are signaling a return to life in the global nonwovens industry for 2024 and beyond. Markets like automotives, filtration, wipes and hygiene are returning to growth and macroeconomic factors like inflation and energy and raw material costs are stabilizing.
Of course, uncertainty remains in the future—the U.S. presidential election, geopolitical tensions, climate change—but many of those doing business in nonwovens remain optimistic and several news items prove this.
Suominen, the leading supplier of nonwovens to the wipes industry, has reported it will invest about $30 million in a new production line in Italy to meet demand for sustainable substrates; Freudenberg Performance Materials has added a new line in Vietnam; and Siteks (a Hassan Group company) is adding a needlepunch line to meet international demand for needlepunched insulation products in the automotive and construction sectors.
While investment has certainly not returned to its heyday of 2020-2021, and most companies are being extremely conservative when it comes to adding lines, they are waiting to see a little stronger growth and a lot less competition before they make that leap.
And, these companies will surely be ready as they have spent this downtime focusing on innovation and process improvements to streamline their operations and make them more environmentally friendly and cost effective.
As always, we appreciate your comments.
Karen McIntyre
Editor
kmcintyre@rodmanmedia.com
