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Japan's Toray to increase prices of automotive airbag yarn and fabrics

11
Nov '21
Pic: Bizoon | Dreamstime.com
Pic: Bizoon | Dreamstime.com
Japan’s Toray has increased nylon 66 yarns and derivative fabrics price, for automotive airbag application, by around 20 per cent effectively from December 1, 2021, shipments. Significant shortages of nylon 66 precursor adiponitrile, since 2018, has caused price escalation for nylon66 polymer, a principal material in automotive airbag yarns and fabrics.

Although the situation thereafter improved somewhat, winter storm Uri, which hit North America in February 2021, caused significant global shortages again and hampered economic activity, leading raw material prices soaring. Such a situation caused dramatic rises in nylon 66 prices. On top of that, prices of such secondary raw materials as silicone for coating airbag fabrics have rocketed amid supply shortages. Rising fuel, electricity, and logistics costs are compounding challenges in the airbag business.

Toray accordingly embarked on a project to bolster its total cost competitiveness by slashing expenses and streamlining fixed and variable spending. Higher costs of primary and secondary materials and transportation outstripped savings initiatives, however, forcing the company to raise its prices to maintain consistent quality and develop and commercialise products that deliver even higher value, the company said in a press release.

Fibre2Fashion News Desk (GK)

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