Advanced Composites Companies

The advanced composites market, a dynamic arena of innovation and growth, is set to soar to new heights in the coming years. Characterized by materials boasting superior strength-to-weight ratios, improved fuel efficiency, and enhanced durability, these composites are finding their way into diverse industries, from aerospace and defense to automotive and wind energy. But navigating this competitive landscape is no easy feat. Let's delve into the key players, strategies, and trends shaping this market.

Market Share:

The advanced composites market is currently fragmented, with established players like Toray Industries, Hexcel Corporation, and SGL Group vying for dominance. However, regional players like China's Jiangsu Hengshen and Taiwan's Chunghwa Composite are rapidly gaining ground, driven by cost-effective production and government support.

To secure market share, established players are adopting diverse strategies. M&A activity is on the rise, with acquisitions like Hexcel's purchase of Oxford Performance Materials strengthening product portfolios and geographical reach. R&D is another key focus, with companies like Solvay and Cytec investing heavily in developing next-generation resins and fiber technologies.

List of companies

• 3M (US),


• Axalta Coating Systems, LLC (US),


• PPG Industries (US),


• DowAksa Advanced Composites Holdings BV (The Netherlands),


• TEIJIN LIMITED (Japan),


• Koninklijke Ten Cate B.V. (the Netherlands),


• Toray Industries Inc. (Japan),


• Hexcel Corporation (US),


• SGL Carbon (Germany),


• Cytec Solvay Group ( US),


• Huntsman International, LLC (US), and


• Mitsubishi Chemical Holding Corporation (Japan).

Recent Developments: 

• 
  July 2023: Airbus announces a partnership with Henkel to develop recyclable thermoplastic composite materials for aircraft interiors.


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  August 2023: SGL Group unveils its new carbon fiber production plant in Germany, aiming to increase capacity and cater to the growing demand.


• 
  September 2023: Ford and BASF collaborate on a lightweight composite truck bed demonstrator, showcasing the potential for composites in commercial vehicles.


• 
  October 2023: Toray Industries invests in a new research center in Japan, focusing on advanced composite materials for next-generation electronics.


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  November 2023: The International Energy Agency forecasts a significant increase in the use of composites in wind turbine blades, further propelling the market growth.