24 October 2018
Visiongain has launched a new chemicals report Top 20 Composites Companies 2018: Market Share Analysis of Leading Companies in Carbon Fibre Reinforced Plastic (CFRP), Glass Fibre Reinforced Plastic (GFRP) & Aramid Fibre Reinforced Plastic (AFRP) for Aerospace, Automotive, Energy, Transportation, Sporting & Consumer Goods Applications.
The composites market is a very specialised market, with most companies producing one type of composite. Cytec, for example, specialise in carbon fibre alone. Major global companies specialise in more than one of the composites. A clear example is Teijin, who produce carbon fibre as well as aramid fibre. More importantly, many of these companies are important players in the composites market because of their innovation and pioneering approaches. Most of these companies invest heavily in research and development and in ways of finding new applications for composites. Visiongain believes this trend will increase the size of the composites market rapidly in the next decade. Although the companies in this market do not have a monopolistic type control they are of huge importance in terms of education and setting industry standards. Therefore, they have an important role in the market other than just their total revenue.
The Visiongain report analyst commented "The biggest players in the composites market, overall, include Owens Corning, Teijin, Hexcel Corporation, and PPG Industries. However these companies by no means have a dominant stake than other leading composite companies as the market is highly competitive and fragmented. There has been considerable revenue growth for some composites companies, particularly those located in Asia or those with major operations in Asia. This is because of an increased domestic demand within Asian countries, as well as an overall rise in composite demand across the globe."
Leading companies featured in the report who are developing composites include Asahi Fibreglass Company, Guardian Fibre Glass, Owens Corning, Hexcel Corporation, China Fibreglass Company among others.
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