Teijin recieves high performance fibres growth strategy award
The 2008 European High Performance Fibres Growth Strategy Leadership Award is presented to Teijin Aramid. Ever since its entry into the aramid fibre market in 2000, the company has been on the fast track to success, achieving a commanding market and technology position in very short time.
"Teijin Aramid has revolutionised the markets for high performance fibres, growing rapidly in stature as a producer of high performance fibres and, in the process, placing aramid fibres on a fast growth curve,” notes Frost & Sullivan Industry Analyst Hariharan Ramasubramanian. “The company has shown immense commitment to this market by investing in prudent capacity expansion programmes, thereby removing bottlenecks to the wider adoption of aramid fibres in key end user applications.”
The lack of available capacity has been one of the major factors restraining growth in the high performance fibres market. Teijin Aramid has, however, been very successful in effecting capacity increase at crucial phases in the market through ambitious expansion programmes such as Niji and Mirai. Plans for an increase in production capacity by 15 per cent, to be completed by the fourth quarter of 2008, are set to reinforce the company's leadership position.
“Teijin Aramid has capitalised on the high demand scenario for its fibres by being ahead of the competition in accurately predicting future demand, and being prepared for it with adequate production capacity,” explains Ramasubramanian. “The new capacity that will be available in 2008 will continue this trend and will further cement Teijin Aramid's competitive position in the high performance fibres market.”
Teijin Aramid has a very strong brand in its portfolio in the form of Twaron®, which was among the earliest high performance fibres to be developed. Since the acquisition of the Twaron brand in 2000, Teijin has been very successful in leveraging the positive brand recognition of this innovative product.
More importantly however, it has also been successful in creating other strong brands in the high performance fibres market resulting in a comprehensive product mix. These include the new brands Sulfron, Technora and Teijinconex.
“The renaming of the company from Teijin Twaron to Teijin Aramid in September 2007 was a culmination of its efforts towards developing this comprehensive product portfolio and moving away from a single product-based growth strategy,” adds Ramasubramanian. “This positions Teijin Aramid for fast growth, with the ability to push forward into multiple high growth applications such as aerospace, defence and automotive with its comprehensive brand portfolio.”
In the eight years that Teijin has been in the high performance fibres market, it has established itself as a company to emulate in terms of strategic market penetration and growth. Teijin was able to fast track its entry into the difficult-to-penetrate commercial markets for aramid fibres, by identifying the best opportunity to enter into the market through the acquisition of Akzo's aramids fibre business in 2000.