Toray Industries Inc. (Japan) and Teijin Limited (Japan) are Leading players in the Transportation Composites Market
The global transportation composite market size was valued at approximately USD 44.7 billion in 2024 and is expected to reach to reach USD 81.4 billion by 2029, projecting a CAGR of 12.7% during the forecast period between 2024 and 2029. Materials created by mixing two or more basic materials with noticeably distinct physical or chemical properties are referred to as transportation composites. Transportation composites are used for engine, exterior, interior, and other applications in a variety of industries, including aerospace and automotive. Transportation composites are becoming more and more in demand because to their high strength and lightweight characteristics, which greatly improve vehicle fuel efficiency.
The aerospace and defense sector stands as the primary consumer in the transportation composites market, driven by the pursuit of reduced weight and heightened fuel efficiency. Furthermore, because of their better strength-to-weight ratios, these composites enable more aerodynamic and streamlined structural designs. Developed countries are especially likely to use composite materials in order to meet the regulatory requirements set forth by aviation authorities, particularly when it comes to replacing outdated aircraft. These materials are a good choice for updating older aircraft fleets because of their remarkable strength-to-weight ratios, corrosion resistance, and lightweight characteristics. The use of these cutting-edge materials is further required by the strict safety and environmental regulations enforced by regulatory agencies like the European Aviation Safety Agency (EASA) and the Federal Aviation Administration (FAA) in the United States.
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Prominent players, include Hexcel Corporation (US), Mitsubishi Chemical Holdings Corporation (Japan), Owens Corning (US), Toray Industries Inc. (Japan), Teijin Limited (Japan), Syensqo SA (Belgium), Jushi Group Co. Ltd. (China), and SGL Group (Germany), among others. These players have adopted various growth strategies to strengthen their position in the market. These include product launches, contracts, partnerships, mergers and acquisitions, and new product development activities to expand their presence in the transportation composite market further.
Toray Industries, Inc
With its headquarters located in Japan, Toray Industries Inc. is a worldwide company that is well-known for being one of the world's leading producers of industrial materials. It has developed into a multifaceted organization that works in a variety of industries, including life sciences, carbon fiber composite materials, IT-related goods, polymers and chemicals, and fibers and textiles. The wide range of industries covered by Toray's business portfolio includes automotive, aerospace, electronics, healthcare, and environmental solutions. Toray is a well-known manufacturer of carbon fiber composite materials with an unwavering dedication to innovation and sustainability. The company provides lightweight, highly durable solutions to the aerospace, automotive, and sports goods industries. For use in automotive, marine, commercial, and transportation applications, Toray provides carbon composites through its US-based subsidiary, Zoltek Composites, Inc. Operating in 29 countries, the corporation has production and research centers spanning North America, Latin America, Europe, Africa, and Asia. Toray Industries Inc. is a worldwide recognized company with 283 subsidiaries, including 180 abroad and 103 in Japan.
Teijin Limited
Teijin Limited is a Japanese conglomerate that produces, processes, and distributes chemical products to a range of industries. These industries include healthcare, films, polyester fibers, resin and plastic processing, IT products, and high-performance fibers like aramid and carbon fibers. Teijin is a renowned provider of cutting-edge solutions for a range of sectors, including electronics, healthcare, energy, and transportation. The corporation operates in more than 20 countries and has a wide worldwide footprint with production facilities spread across North America, Europe, and the Asia Pacific region.
Related Reports:
Transportation Composites Market by Resin (Thermoplastic and Thermoset), Manufacturing Process, Fiber, Application (Interior, Exterior), Transportation Type (Airways, Roadways, Railways, Waterways), and Region - Global Forecast to 2029
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