International Top Companies Report

The global nonwovens industry continued to be challenged in 2022 as demand slowed and capacities increased. Additionally, raw material price increases, global inflation and the Russian invasion of Ukraine impacted results nearly across the board for producers this year. The result is stagnant or slow-growing sales, challenged earnings and limited investments.

However, these challenges did not keep nonwovens producers from innovating in 2022. In fact, manufacturers are reporting more innovation than ever before with new developments spanning all of the major markets for nonwovens. At the heart of all of this innovation lies sustainability. Nonwovens producers are heeding the call for greener solutions in the form of lower basis weights, the use of more regenerative or biodegradable raw materials and recycled and/or recyclable materials. 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 Numbers

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 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, companies like Freudenberg Performance Materials, Glatfelter, Jofo Nonwovens and Fibertex Nonwovens have grown significantly on the heels of acquisitions in recent years. One big merger, set to close later this year, is the combination of two of Japan’s largest nonwovens producers, Mitsui Chemicals and Asahi Kasei, to create a $340 million company and the world’s largest Japanese company.

Each company in this survey is ranked on the basis of the prior year (2022) sales, which are translated from local currency to U.S. dollars using the average conversion rate for 2022. 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

* For the 2021 top companies report, which was published in September 2022, click here.