What are the top composite manufacturers currently on the market? Composite materials should continue to see increased demand from end-use industries such as aerospace, automotive, and renewable energy, which need lightweight, long-lasting, and high-performance materials. Global composite materials market is expected to be valued at over USD 120 billion by 2030, growing at a compound annual growth rate (CAGR) of about 6.5% from 2023 to 2030. This boom in growth means that in order to ensure product quality and innovation, choosing the right composite manufacturer is critical.
One of the leading composite manufacturers is Hexcel Corporation. Hexcel has more than 70 years of experience; it’s already a world leader in supplying advanced materials — mostly aerospace. Hexcel’s carbon fiber products are key components of the Boeing 787, an aircraft that is made of 50% composites, translating to about $50 million per year in fuel savings for air carriers. With over 20 manufacturing plants spanning the globe, Hexcel’s global footprint ensures reliability and high-performance materials across relevant industries.
Another big name is Toray Industries, a Japanese manufacturer that rules the global carbon fiber market. Toray has a production capacity of over 10,000 metric tons per year and is a leading supplier to the aerospace industry. Their carbon fiber is also used in the Airbus A350 where composites accounted 53% of the aircraft’s structure by weight, enabling improvements in fuel efficiency and reduction of weight by 15%. Toray’s research and development expenditure accounts for a large portion of the company’s budget, which reached over $3.7 billion in 2020, contributing to the advancement of revolutionary materials across industries such as aerospace, automotive, and renewable energy.
The automotive industry is a big business for BASF. The composites division makes more than $3 billion annually, providing materials for lightweight car parts, including body panels and engine components. BASF focuses on longevity, introducing bio-based composites used in automotive manufacturing that help lower its environmental footprint. Their innovative materials allow the vehicles to weigh less while still maintain their strength and safety, a key development considering automakers are aiming to make their fleet more fuel-efficient and environmentally friendly.
SGL Carbon supplies composites to the renewable energy sector that are used in wind turbine rotor blades. 3D printing is used to create customized turbine components that are both more efficient and durable than traditional ones, allowing for less frequent replacements, decreasing the overall cost of the energy. Now over 50 years of experience in the field, SGL Carbon has become a trusted partner in the renewable energy sector, contributing to global sustainability targets.
Further, General Electric Aviation uses a lot of advanced composites for aerospace. Their LEAP engines, found in the Boeing 737 MAX and the Airbus A320neo, use composites to offer a 15% fuel efficiency improvement. Because of this innovation, GE is dominating both the aerospace and energy spaces while pushing the boundaries of composite technology.
A reliable Composite Manufacturer is the guarantee that we have access to quality materials that can enhance performance and reduce costs to foster innovation in multiple industries. Prominent producers such as Hexcel, Toray, BASF, and SGL Carbon have set a benchmark for excellence in composite production.