Global Epoxy Composites Market is expected to reach USD 24,153,350.59 thousand by 2026, is growing at a substantial CAGR in the forecast period of 2019 to 2026. The years considered for study are as mentioned below.
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The epoxy composites market is a highly concentrated market which includes key players and local players. The market has witnessed increased strategic developments owing to favourable market scenario. The market has a prominent growth in upcoming years due to the demand of wind energy, buildings and constructions which is one of the factors boosting the growth of the market. The epoxy composites serve great importance in the automotive & transportation industry. It is an active material which is used to make external body panels, bumper beams, air ducts and pultruded body panels etc. Due to the properties of their tensile strength, temperature resistance and dimensional stability the parts are much lighter than metallic ones, making the automobile more efficient
The market has witness developments in terms of merger and acquisitions or product launches to enhance the product portfolio in order to meet the rising demand of innovative technology. For instance, in February 2018, SGL Carbon expanded its material portfolio by introducing SIGRAFIL C T50-4.8/280 which is a new fiber so that it can ideal for aerospace applications. This will provide an efficiency boost during processing and help the company to expand the range of applications for composites.
TORAY INDUSTRIES, INC. dominated the global epoxy composites market. The other key players existing in the market includes Huntsman International LLC., Solvay, Owens Corning, Hexcel Corporation, Rotec Composite Group B.V., ISOSPORT Composite Components GmbH, Scott Bader Company Ltd., Gurit, SGL Carbon, Sumitomo Bakelite Co., Ltd., IDI Composites International, Mitsubishi Chemical Holdings Corporation, TORAY INDUSTRIES, INC., TEIJIN LIMITED, and TPI Composites.
TORAY INDUSTRIES, INC.:
TORAY INDUSTRIES, INC. is headquartered in in Tokyo, Japan and was founded in 1926. The company is engaged in manufacturing carbon fiber composite materials, engineered products and life sciences products. The company has five operating divisions namely, fibers & textiles, Performance chemicals, environment & engineering carbon fiber composite materials, life science and others.
Fibers & Textiles segment deals in filament yarns, staple fibers, spun yarns, woven and knitted fabrics of nylon, polyester, acrylic and others non-woven fabrics; ultra-microfiber non-woven fabric with suede texture; apparel products. Performance chemicals provide raw materials for synthetic fibers and other plastics; fine chemicals; electronic and information materials and graphic materials. The product categories include thermoplastic, thermoset, composite tooling, adhesive and core and parts and services. The market focused category is thermoset and composite tooling.
Moreover, Toray Group reached an agreement to acquire all of the shares of TenCate Advanced Composites Holding B.V. (TCAC) based in the Netherlands in March 2018. By introducing Toray Group’s carbon fiber and polymer technologies and combining the two companies’ supply chains, this acquisition is expected to generate significant synergies.
It has its global networks in Europe, Asia-Pacific, North America, Latin America The company has various subsidiaries such as Toray Textiles Europe Ltd. (TTEL) (U.K), Toray Films Europe S.A.S. (TFE) (France), lcantara S.p.A.(Italy), Euro Advanced Carbon Fiber Composites GmbH (EACC) (Germany) and others.
Mitsubishi Chemical Holdings Corporation:
Mitsubishi Chemical Holdings Corporation headquartered in Tokyo, Japan was founded in 2005. The company engaged in providing performance products, chemicals, industrial gases which include specialty chemicals and film and sheet products. The company operates through four business segments which include chemicals, performance products, industrial gases, healthcare and others. Industrial segment deals in basic petrochemicals, polyolefin, and basic chemical derivatives.
The company provides chemicals, polymers/resins/high performance chemicals, film& sheet/molding/composite, carbon fibers and composite materials, information/electronics/display/battery, alumna fiber/inorganic products, fibers & textiles, environment & living solutions, agriculture/food materials/healthcare and service/it analysis.
Performance Products segment provides optical films, information, electronics & displays, and acetyl, packaging and industrial films and the product are fall in the polymers/resins/high performance chemicals category.
- In June 2018, Mitsubishi Chemical Corporation applied for a patent titled “Epoxy Resin Composition, Molded Article, Prepreg, Fiber-Reinforced Composite Material and Structure”. It will provide the company to be more feasible in the market and help them to expand their market share in the epoxy resin market.
It has its global networks in the America, Asia and Europe. It operates through its subsidiaries such as The KAITEKI Institute, Inc. (Japan), Mitsubishi Chemical Holdings Corporate Staff, Inc. (Japan), Mitsubishi Chemical Holdings America, Inc.(U.S.), Mitsubishi Chemical Holdings (Beijing) Co., Ltd. (China), Mitsubishi Chemical Holdings Europe GmbH (Germany), Diamond Edge Ventures, Inc. (U.S.).
Solvay:
Solvay is headquartered in Brussels, Belgium was founded in 1863. The company is focused on advanced materials and specialty chemicals that address key societal challenges. The company operates through four business segments which include advanced materials, advanced formulations, performance chemicals, corporate and business services. The company provides different kinds of products such as amines, antioxidants and stabilizers, barium and strontium derivatives, calcium and magnesium derivatives, composites, flavors and fragrances, fluorine derivatives and many others and the market focused category is composites.
The advanced materials offer a unique portfolio of high-performance polymers and composite technologies.
- In October 2018, Solvay opened a new research centre so that they can meet the challenges of the growing demand of the thermoplastics and thermosets. It will also encourage bringing highly educated employees in the region. The focus of the research centre is to perform the tasks in the quickest possible way and reduce costs and time of the production.
The company has its global networks through direct sales representatives and distributors in North America, Europe and Asia-Pacific. It operates through its subsidiaries such Zhejiang Lansol Fluorchem Co., Ltd. (China), Solvay Solexis, Inc (U.S.), Solvay America, Inc. (U.S.) Solvay Specialty Polymers Italy S.p.A. (Italy), Rhodia Poliamida e Especialidades Ltda (Brazil).
