Toray Raises Prices of Nylon 66 Yarns and Fabrics for Car Airbags
Latest: Toray said it intends to raise prices of nylon 66 yarns and fabrics used in car airbags by about 35 percent. And it will be implemented on October 1st.
Rising demand due to a recovery in the global economy and a surge in crude oil prices due to Russia’s invasion of Ukraine have driven up prices for nylon 66 polymer, the main material for yarns and fabrics used in automotive airbags.
The U.S. dollar has risen sharply since April, driving up procurement costs for Toray’s airbag business. On the other hand, the depreciation of the yen directly affects the exchange rate, causing the Japanese export market to fall into disaster.
Against this background, Toray began to implement AP-G
2022 program to enhance its total cost competitiveness by cutting expenses and streamlining fixed and variable expenses. The company said it found that savings could not offset the increased costs, forcing the company to raise prices to maintain consistent quality while developing and commercializing products that offered higher value.