ES FiberVisions Inaugurates Fiber Plant in Rayong, Thailand
Thailand:
ES FiberVisions, a
joint venture between ‘FiberVisions LLC’,
which is operating as a subsidiary of Thailand based Indorama Ventures PCL, and
Japan based ‘JNC Corporation’ inaugurated
its new polyolefin bicomponent fibers production plant in Rayong, Thailand.
This new facility is situated adjacent to existing fiber production facility of
ES FiberVisions in Thailand and the already existing plant has fiber production
capacity around 14,000 metric tons per year. FiberVisions LLC and JNC Corporation
has announced to magnify its bicomponent fibers production at the FiberVisions
facility in Covington, Georgia, USA
TechSci
Research depicts that the
inauguration of a new bicomponent fiber production facility in Thailand by the joint venture ES
FiberVision is anticipated to augment the expansion of the company and
strengthen the company’s position in the Asia-Pacific region. Additionally, the
production facility would generate augmented demand for polyolefins in the
country.
According
to the recently published report by TechSci
Research, “Global
Propylene Market By Application (Polypropylene,
Acrylonitrile, Acrylic Acid, Propylene Oxide, Cumene & Others), By Region
(North America, Asia-Pacific, Europe, South America and Middle East &
Africa), Competition Forecast and Opportunities, 2011 - 2025”, the global propylene market is forecast
to grow at a CAGR around 6% during 2016-2025, on account of growing
industrialization and rising demand for demand for eco-friendly paints across
commercial and residential set ups. Additionally, announcements of various
emerging OPT plants for propylene coupled with smooth trading practices between
countries is boosting global propylene market. Furthermore, polypropylene is
projected to dominate global propylene market, on account of increasing
government regulations for reducing greenhouse gas emissions in environment
supported by tremendous growth in the production of light commercial vehicles
and packaging industries