HOME › Research Insight › Agreements, joint ventures & collaborations, and expansions are the key development strategies adopted by the leading market players to drive in the global carbon fiber (CF) and carbon fiber reinforced plastic (CFRP) market.
Agreements, joint ventures & collaborations, and expansions are the key development strategies adopted by the leading market players to drive in the global carbon fiber (CF) and carbon fiber reinforced plastic (CFRP) market.
The key companies offering carbon fiber composites are mainly involved in agreements and joint ventures & collaborations to strengthen their position in the carbon fiber (CF) and carbon fiber reinforced plastic (CFRP) market. The key players in the market actively participated in expanding their global reach, while small companies concentrated more on the strategy of mergers & acquisitions between 2011 and 2015.
From 2011 to 2015, agreements, joint ventures & collaborations were the key strategies, accounting for a share of 30.5% among others in the CF and CFRP market. The expansion was considered as the second most-preferred growth strategy by the manufacturers, and accounted for 28.8% of the total development strategies of the CF and CFRP market.
The major manufacturers profiled in this report are Toray Industries Inc. (Japan), Teijin Limited (Japan), Mitsubishi Rayon Co. Ltd. (Japan), SGL-Group (Germany), Formosa Plastics Corporation (Taiwan), Hexcel Corporation (U.S.), Cytec Industries Inc. (U.S.), Hyosung (South Korea), and Tencate (Netherlands) among others. These companies have adopted various organic and inorganic growth strategies such as agreements, joint ventures & collaborations, expansions, mergers & acquisitions, and new product & technology developments.
Toray Industries and Teijin Limited are the important active players in the CF and CFRP market. These companies witnessed the highest strategy adoptions among the other players in the global CF and CFRP market, accounting for over 30.0% of the total market activities from 2011 to 2015.
Toray Industries Inc. is the leader and the largest contributor in the growth of carbon fiber composites in the global CF and CFRP market. It accounted for the largest share of all the development activities undertaken in the CF and CFRP market. The company follows dynamic growth strategies with agreements, expansions, mergers & acquisitions, and new product developments as the major growth strategies to enhance its geographical presence, thereby enhancing its customer base. The company’s diverse product portfolio and technologically advanced R&D centers have also led to its innovation-driven growth and major share in the CF and CFRP market.
Teijin Limited is another major player that has established a strong foothold in the CF and CFRP market. The company has a broad and diversified carbon fiber composites product portfolio, which ensures its consistent growth in the global CFRP market. The company is focused on both organic and inorganic growth and has enhanced its product portfolio with various growth strategies such as agreements, expansions, and new product developments to meet the growing demand of its potential customers. These strategies have helped the company to enhance its technical expertise and increase its global reach in the CFRP market.
Carbon Fiber (CF) and Carbon Fiber Reinforced Plastic (CFRP) Market by Raw Material & Tow Size, CFRP Market by Resin Type, by Manufacturing Process, by Application, and by Region - Trends and Forecasts to 2020
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