EUROPE ACCOUNTED FOR $1.3 TRILLION IN PAPER, PLASTICS, RUBBER, WOOD, FURNITURE, TEXTILE AND APPAREL MANUFACTURING MARKET IN 2016.
The paper, plastics, rubber, wood and textile industry comprises companies engaged in manufacturing paper, rubber, plastic, wood and textile products. These industries can be further classified as follows.
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Europe was the third largest region accounting for $1.3 trillion or 18.5% market share.
The global paper, plastics, rubber, wood, furniture, textile and apparel manufacturing market is expected to grow from $7.0 trillion in 2016 to $8.8 trillion in 2020 at a compound annual growth rate (CAGR) of 5.7%.
Wood Products Manufacturing was the largest segment in the paper, plastics, rubber, wood, furniture, textile and apparel manufacturing market.
Plastics And Rubber Products Manufacturing was the second largest segment in the paper, plastics, rubber, wood, furniture, textile and apparel manufacturing market.
Paper Products Manufacturing was the third largest segment in the paper, plastics, rubber, wood, furniture, textile and apparel manufacturing market.
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Two most recent and important deals in the paper, plastics, rubber, wood, furniture, textile and apparel manufacturing market were executed by MeadWestvaco and PVH Corp.
In July 2015, MeadWestvaco and RockTenn merged to form a $15 billion company. The new company was named WestRock. The deal made newly formed WestRock the world’s largest paper and packaging company. MeadWestvaco was a packaging company based in Virginia, USA. RockTenn was a paper and packaging manufacturer based in Georgia, USA.
In February 2013, Phillips Van-Heusen has acquired The Warnaco Group for $2.9 billion to become the world’s largest branded apparel company. The Warnaco Group was founded in 1874 in the United States and is a textile corporation that designed, sourced, marketed, licensed and distributed a range of underwear, sportswear and swimwear. Its products are now sold under the brand name of Calvin Klein, Chaps, Speedo and more.
The trend, players in the paper, plastics, rubber, wood, furniture, textile and apparel manufacturing industry should follow to outperform their competitors is following:
Rubber, plastics, textiles and paper manufacturing companies are collecting, processing and measuring data to improve process efficiency and productivity. Technologies include electronic devices that connect through internet and display process information on dashboards. Predictive maintenance technology predicts snags and defects and thus significantly reduces downtime and costs. Paper, plastic and textile manufacturing companies are integrating big data and, IoT technologies to implement preventive maintenance techniques.
Rubber, plastics, textiles and rubber manufacturing should consider adopting big data and IoT technologies to improve productivity and reduce downtime.
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Posted by
Oliver Guirdham
on Monday April 03 2017, 3:46 PM EST.
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