In the last few years, advanced polymer composites market has witnessed a remarkable growth graph with the increasing requirement for composite materials across the aerospace, automotive, and construction sectors. With the favorable advancements in the material science technology, researchers have successfully come up with a new range of products that have become alternatives for already existing metallic materials. These composite materials have nearly similar properties to that of metallic materials, but have far less weight density as compared to metal composites.
Ocean View, DE -- (SBWIRE) -- 05/11/2020 -- Recently in May 2020, the well-known aeronautical company, Airbus offered a long-term contract to Teledyne CML Composites to supply composite wings components and assemblies to its commercial airliner. In this contract, the UK based composite manufacturer will provide long range of composite parts for Airbus' A350-900 and A350-1000 aircraft wings.
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In order to manufacture both – the wings structure and fuselage of the A350 series aircraft, it has used a carbon-fiber reinforced polymer that will reduce the maintenance cost and improves components' resistance to corrosion. After receiving the long-term contract from Airbus, Teledyne CML Composites has considerably improved the quality of its composite parts that will help it to gain access to new business opportunities from several other end-users.
Speaking along the same line, Mitsui Chemicals will start its commercial operation by October 2019 with the production capacity of 3500 tons per year that will turn out to be rather beneficial for leading automakers. Owing to the excellent impact resistance, lightweight, better appearance, and hardness, LGFPP is preferred for automotive applications. In the last few years, with the increasing popularity of electric vehicles along with the deployment of strict environmental norms, the demand for LGFPP has increased remarkably. Reportedly, in line with the surging demand for automobiles across India and China, APAC advanced polymer composites market will register a CAGR of more than 8% over 2018-2025.
Key Point Of TOC:
Chapter 7. Company Profiles
7.1. BASF SE
7.1.1. Business overview
7.1.2. Financial data
7.1.3. Product landscape
7.1.4. SWOT analysis
7.1.5. Strategic outlook
7.2. Arkema S.A.
7.2.1. Business overview
7.2.2. Financial data
7.2.3. Product landscape
7.2.4. SWOT analysis
7.2.5. Strategic outlook
7.3. Owens Corning Corporation
7.3.1. Business overview
7.3.2. Financial data
7.3.3. Product landscape
7.3.4. SWOT analysis
7.3.5. Strategic outlook
7.4. 3B-Fibreglass sprl
7.4.1. Business overview
7.4.2. Financial data
7.4.3. Product landscape
7.4.4. SWOT analysis
7.4.5. Strategic outlook
7.5. Cristex Ltd
7.5.1. Business overview
7.5.2. Financial data
7.5.3. Product landscape
7.5.4. SWOT analysis
7.5.5. Strategic outlook
7.6. SGL Carbon SE
7.6.1. Business overview
7.6.2. Financial data
7.6.3. Product landscape
7.6.4. SWOT analysis
7.6.5. Strategic outlook
7.7. Kemrock Industries and Exports Limited
7.7.1. Business overview
7.7.2. Financial data
7.7.3. Product landscape
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In addition to capacity expansions, several other contributors in the advanced polymer composites industry have been looking forward to enhancing their product portfolio with the strategic mergers and acquisitions. For instance, in June 2018, global provider of specialized polymer material, PolyOne has acquired leading manufacturer of high-performance and advanced composites, PlastiComp.
This deal will become fruitful for PolyOne to improve its existing portfolio, aided by PlastiComp's expertise in the long fiber technology. In the future, PolyOne is planning to launch unique and long fiber technology composite formulations to expand its customer base. The strategies adopted by the players in the advanced polymer composites market to focus on the diverse application scope is poised to boost the industry growth over the years ahead.
The collaborative approach undertaken between the OEMs and product suppliers in line with the on-going product innovation and design changes is likely to impel advanced polymer composites industry trends. The shifting trends toward the development of lightweight components for improving the fuel efficiency and curbing emission also will have a positive impact on the product demand. Reportedly, advanced polymer composites market will surpass a revenue collection of USD 17 billion by the end of 2025.
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