Upsurge in the demand for advanced composites from the automotive sector to achieve fuel efficiency
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five leading vendors for the global advanced composites market in their latest research report. This report also lists eight other prominent vendors who are expected to contribute to this market’s growth between 2016-2020.
To identify the top vendors, Technavio’s market research analysts have taken into account the revenue generated from the sales of advanced composites.
This Technavio report, under glass and ceramics vertical, is based on the synthesis, analysis, and interpretation of information about the global advanced ceramics market collected from specialized sources. The analysts have derived insights using a mix of primary and secondary research with an aim to provide a holistic picture of the market.
Click here to request a free sample of this report
Competitive vendor landscape
The global market for advanced composites is fragmented due to the presence of several players in the market space. The market is highly competitive in nature and is dominated by a few vendors. Vendors in the market compete based on criteria such as innovation, price, customer-centrism, and quality and performance. There are relatively lass chances of new players venturing into the global advanced composites market as the market is highly investment-centric.
“There is an upsurge in the demand for advanced composites from the automotive industry. Increasing fuel prices have created an urgency in the need for fuel efficiency in vehicles. Automobile manufacturers are progressively discovering solutions to minimize the weight of the automobile to achieve optimal fuel efficiency. The use of advanced composites in automobiles is expected to reduce curb weight by 40%-50% and increase the fuel efficiency by 30%-35%. Carbon-reinforced advanced composites are used in the premium cars manufactured by BMW and Audi,” says Brijesh Kumar Choubey, a lead analyst at Technavio for research on glass and ceramics.
Top five vendors in the advanced composites market space
Cytec Solvay
Solvay acquired Cytec, a composite manufacturing company, for almost $6 billion in December 2015. The company aims to expand its offerings in light weighting with advanced material in sectors such as automotive and aerospace and also to strengthen its involvement in the mining and chemical sectors. Cytec’s resin systems provide prepregs, composite-to-metal, adhesives for composite-to-composite, and metal-to-metal bonding in the automotive segment. The company generated revenue of almost $14 billion for the year 2015 and had about 30,900 employees.
Some key products: Novecare, Coatis, Aroma Performance, Specialty polymers, etc.
Hexcel
Hexcel product offerings include lightweight and high-performance structural materials such as carbon fibers, specialty reinforcements, prepregs, adhesives, and other fiber-reinforced matrix materials, engineered honeycomb, and composite structures. It caters primarily to the commercial aerospace, space and defense, and industrial sectors. Hexcel generated revenue of almost $2 billion for 2015 and had 5,897 employees as of December 2015.
Key products: Fabrics, carbon fibers, and specialty reinforcements, structural adhesives, etc.
SGL
SGL offerings include high-performance carbon materials and products such as graphite electrodes, cathodes, graphite specialties, carbon fibers, carbon fiber materials, and carbon fiber reinforced polymer (CFRP) components. The company also provides process technologies. The main business segments of SGL include PP, CFM, and GS. As of December 2015, the company had 5,658 employees and 42 production facilities.
Key products: Glass fiber-based non-crimp fabrics and automated braiding process.
TenCate
TenCtae combines textile technology with chemical process technology to develop and produce advance materials. The company is one of the leading suppliers of thermoplastic and thermoset solutions to the aerospace and industrial segments. The thermoset composites from TenCate are used in radomes, satellites, unmanned aircraft, general aviation, and military aircraft. The company also provides composites in high-end industrial applications that range from oil and gas to sporting equipment. As of 2015, the company generated a revenue of around $1159 million.
Key products: Geosynthetics and grass and Advanced textiles and composites.
Teijin
Teijin manufactures synthetic fibers and has a broad range of businesses that includes electric materials and performance polymer products, advanced fibers and composites, healthcare, trading and retail, and information technology. The business segments of the company include advanced fibers and composites, electric materials and performance polymer products, healthcare, and trading and retail. The key technologies of the company are used in carbon-fiber-reinforced thermoplastics, separators for lithium-ion batteries, cyclic carbodiimide compound, comfortable stain-resistant fabrics, highly heat-resistant bioplastics, and polyester fiber cushioning materials.
Key products: Aramid, Carbon Reinforced Fibers, High-Performance Polyethylene, High-Performance Polyester Fibers.
Other prominent vendors in this market include 3B, DuPont, GKN, Gurit, Kemrock Industries and Exports, Mitsubishi Rayon, Toray, and TPI Composites.
A more detailed analysis is available in the Technavio report, ‘Global Advanced Composites Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
To read more press releases- click here.
Browse related reports:
For any assistance or query, please contact our media team at:
media@technavio.com
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com
