Toray Industries, Inc., the Japanese multinational corporation that specializes in industrial products centered on technologies in organic synthetic chemistry, polymer chemistry, and biochemistry, ventures big markets areas- India and USA by devising to set up airbag textile factories.
Though the company has not revealed its investors as well as the extent of investments, it is expected that the investment would be around several billion yen. It has announced that the work would begin in the fiscal year, 2016. This plan includes supply for highly heat-resistant woven nylon fiber for use in airbags. Its current production sites are in Japan, China, Thailand and the Czech Republic.
India, especially, is quite interested in this project .A plant in India lends a helping hand to Toray by assisting it to meet an expected rise in local demand. This is in the context of tougher safety standards which are to be introduced. But the U.S.A, i.e. North America is pondering upon this project weakly.
By this step, Toray plans to increase its nylon production capacity, boosting output of nylon fibre for air bags at its Thai factory beginning in 2015. This will raise the combined production capacity for the Thai and Japanese plants by 30% to 32,000 tons a year.
It is projected that Global demand for airbag textiles is expected to grow at a 7% annual pace through 2020 as OE fitment rises around the world. With the global demand of airbags increasing progressively, Toray aims to be the next global leader.
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