International Top Companies Report

The global nonwovens industry was severely challenged throughout the first half of 2023 as most producers dealt with overcapacity, lower demand and higher manufacturing costs. As a result, most companies focused on cost reduction programs as new investments slowed.

However, many producers reported signs of a recovery beginning during the second half as customers depleted their post-pandemic stockpiles, costs stabilized and markets like automotives, filtration and hygiene started seeing an uptick in demand that has continued into 2024.

Makers of nonwovens are well-prepared for growth. Many have spent this period of lessened demand focused on innovating their product offerings and reshuffling their manufacturing assets

As it has been in the past few years, sustainability continued to be the buzz word within nonwovens. Producers continue to look at ways to lessen their product weights, integrate more sustainable raw materials and reduce the impact of their operations on the environment. While these efforts are driven to some degree by legislative action like the SUP Directive in the European Union, they are also the result of consumer and retailer demand for greener product options.

By The Number

This year’s top companies report includes 40 nonwovens producers located around the world. While many of the leading companies are based in established markets like the U.S. and Western Europe, companies from less developed areas are increasing their role, and this year, companies from developing countries like Brazil, Turkey, China, Taiwan, Indonesia and the Czech Republic have continued to grow their size and their scope in the nonwovens industry. Many of these companies are focusing on growth, meaning their rankings will only grow in future years.

One of the big factors that will influence the rankings in coming years will certainly be merger and acquisition activity within the industry. Already we have seen the merger of Mitsui Chemicals and Asahi Kasei in Japan create a company with sales over $300 million, and Freudenberg Performance Materials has grown significantly in past years through acquisition. By the end of this year, we should see another major merger when Berry Global and Glatfelter, two of the world’s largest nonwovens producers, join forces to create a new company, Magnera, with leading technologies in spunmelt, airlaid and spunlace.

Each company in this survey is ranked on the basis of the prior year (2023) sales, which are translated from local currency to U.S. dollars using the average conversion rate for 2023. In several cases, sales are estimated, and in all instances, these sales figures do not reflect economic factors like currency fluctuations or raw material prices which can skew the ranking. While ranking by annual sales figures is necessary to the nature of this report, it is really the activities of these companies—as reported in their profiles—that should be considered.

Karen McIntyre
Editor