Press release
Epoxy Composite Market Analysis 2018, Major Key Players Reviews – Axiom Materials, Inc., Hexcel Corporation, Cytec Solvay Group, Koninklijke Ten Cate nv., Teijin Limited , Toray Industries, INC. and Mitsubishi Rayon Co. Ltd.
Epoxy resins is low or high molecular weight pre-polymeric or polymeric material which is consist of at least two epoxide groups. It is extensively used in automotive, aerospace & defence, building & construction industries. Apart from these industries, the product find its application in industrial tools, sports equipment, consumer goods, and marine industry. Growing construction activities, rising demand of vehicles and commercial aircrafts from emerging economies are the primary factors driving growth of the market. The light weight vehicle in automotive industry, is set to uplift consumption of plastic over the coming years.
As per Organisation Internationale des Constructeurs d'Automobiles (OICA), automotive industry has produced overall 94.97 million vehicles expanding at 4.5% annual growth in 2016. Lifestyle changes, economic development, increasing spending economic power of middle class population have led the greater adoption of commercial as well as consumer vehicles over the past five years. In addition to this, rapid industrialization fuelling the demand for commercial vehicles and aircrafts year on year. Asia Pacific held major share of the market in 2016 on account of the presence of leading end users such as automotive and building & construction industries.
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Key Players:
Axiom Materials, Inc. (US), Hexcel Corporation (US), Cytec Solvay Group (Belgium), Koninklijke Ten Cate nv. (Netherlands), Teijin Limited (Japan), Toray Industries, INC. (Japan), Mitsubishi Rayon Co. Ltd. (Japan), Rotec Composite Group B.V. (Netherlands), SGL Group (Germany), and Gordon Composites, Inc. (US), among others are some of the prominent players at the forefront of competition in the Global Epoxy Composites Market and are profiled in MRFR Analysis.
Industry/ Innovation/ Related News:
December 8, 2017- Hexcel Corporation announced that it has entered into a definitive agreement to acquire the Aerospace & Defence (A&D) business of Oxford Performance Materials (OPM). OPM A&D engages in manufacturing qualified, high-performance thermoplastic, carbon fibre reinforced 3D printed parts for Commercial Aerospace and Space and Defence applications. This development will provide range of new technology solutions to the aerospace and defence customers of Hexcel Corporation in printed parts as well as assembled structures and broader design solutions.
January 5, 2017- Teijin Limited announced the acquisition of all the shares in the Continental Structural Plastics (CSP). The deal was finalized at USD 825 million. CSP will operate into the market as a wholly-owned subsidiary of Teijin and its management team will retain the agility and decision making ability necessary to operate effectively in the automotive industry.
April 1, 2017 - Toray Composites (America), Inc. and Toray Carbon Fibers America, Inc. merged to create a new business called Toray Composite Materials America, Inc. The merger will both firms to leverage on the success by utilizing their collective knowledge and expertise. As a result of this development, both firms will be in a position to jointly invest in innovative and personalized end to end solutions through the consolidation of our North American materials businesses.
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Regional Analysis:
Asia Pacific is the largest market of epoxy composite due to demand in various applications such as automotive, transportation and aerospace & defense in China region followed by Japan, and India. Increasing demand for automotive, aerospace and construction industry in the India, Japan and South Korea has made Asia Pacific largest consumer of the global epoxy composite market followed by increasing in the consumption of epoxy composite market in North America region. The third largest market of epoxy composite is Europe. Latin America and Middle East also witnessed in growth of epoxy composite market due to various end user industry such as electronics industry, construction industries, and others.
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