Henkel AG & Co. KGaA, Honeywell International Inc. and BASF SE are Dominating in the Global Advanced Composites Market in 2020

Global Advanced Composites Market is expected to grow with the CAGR of 7.5% in the forecast period of 2021 to 2028. The years considered for study are as mentioned below.

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Global advanced composites market is a highly consolidated market which includes specific number of key players as well as local players. The market has witnessed increased strategic developments owing to favourable market scenario.

The major players dealing in global advanced composites market are introducing strong range of product portfolio. This helped companies to maximize the sales with enhanced product portfolio. For instance, in December 2020, TORAY INDUSTRIES, INC announced a new type of PET film named ‘Ecouse’ which is eco-friendly and can be easily recycled. The company is planning to produce 2500 metric tons annually and to launch a fully-fledged sale of the new product.

Henkel AG & Co. KGaA is the dominating player in global advanced composites market. The other key players existing in the advanced composites market includes TORAY INDUSTRIES, INC, TEIJIN LIMITED, Mitsubishi Chemical Holdings Corporation, Koninklijke Ten Cate bv., Huntsman International LLC, Solvay, Hexcel Corporation, Hexion, BASF SE, DuPont, Honeywell International Inc., Henkel AG & Co. KGaA, SGL Carbon, HYOSUNG CHEMICAL, Owens Corning, Formosa Plastics Corporation, Strata Manufacturing PJSC, Renegade Materials Corporation, Advanced Composites Inc, Airborne, Core Composites, Molded Fiber Glass Companies, MasterMold, LLC, Continental Structural Plastics Inc., First COMPOSITES GmbH, ATLAS COMPOSITE TECHNOLOGIES, Performance Composites Inc., RECAERO S.A.S., Bercella s.r.l., SMI Composites, LLC, Composite & Metal Products USA, Inc., Cogumelo, Veplas d.d., Norco Composites & GRP, COTESA GMBH, EPSILON Composite, 3A Composites Holding AG (a subsidiary of  Schweiter Technologies), STS Group AG, Plastic Omnium, LyondellBasell Industries Holdings B.V., Hanwha Solutions, R3 Composites Inc., Georg Fritzmeier GmbH & Co. KG, TERMA among others.    

Advanced Composites MarketHenkel AG & Co. KGaA:  

Henkel AG & Co. KGaA is headquartered in Düsseldorf, Germany and was founded in 1876. The company focuses on the production of top-notch adhesives which is widely recommended in construction, automotive manufacturing, metal and packaging industries. The company deals in multiple business segments such as adhesive technologies, beauty care, laundry & home care, out of which adhesive technologies is the market focused segment. The company offers variety of products under various categories such as adhesive technologies, beauty care, laundry & home care out of which adhesive technologies are the market focused category.   

For instance,

  • In December 2020, Henkel AG & Co. KGaA has launched around 700 million PET bottles for laundry and home care which are 100% recyclable. This have strengthened its ties with plastic bank and helped in reducing its carbon foot print.

The company has wide global presence across the world as Asia-Pacific, Europe, Middle East and Africa, North America and Latin America. Also the company has expanded their business with their subsidiaries such as Henkel Algerie S.P.A (Algeria), Henkel Argentina S.A. (Argentina), Henkel Australia Pty.Ltd (Australia), Henkel Finance L.P. (Australia), Henkel Austria GmbH (Austria) among others.

 Honeywell International Inc.:

Honeywell International Inc. is headquartered in North Carolina, U.S. and was founded in 1885. The company focuses on manufacturing and sales of innovative technologies and products related to aerospace, building technology, performance material and safety solutions. The company deals in multiple segments such as aerospace, building technology, performance materials and technology, safety and productivity solutions out of which performance materials and technology is the market focused segment. The company provides their products under multiple categories such as aerospace, buildings and cities, chemicals & materials, industrial & manufacturing, retail, safety and sporting goods out of which safety is the market focused category.

For instance,

  • In 2020, Honeywell International Inc. acquired Sparta systems which provide AI based programs with applications in life science field. The company expect this merger could help them to combine proprietary technologies of both companies to reach more consumers in the U.S., Europe and Asia.  

The company has wide global presence across Asia-Pacific, Europe, Middle East and Africa, North America and Latin America with their subsidiaries such as ADI-Gardiner Limited (U.K.), AlliedSignal Aerospace Service Corporation (U.S.), EMS Aviation, Inc. (U.S.), Grimes Aerospace Company (U.S.), Hand Held Products, Inc. (U.S.) among others.

BASF SE:    

BASF SE is headquartered in Luwigshafen, Germany and was founded in 1865. The company is engaged in the manufacturing of chemicals, materials, industrial solutions, surface technologies, nutrition & care and agricultural solutions. The company has multiple business segments which are chemicals, performance products, functioning materials and solutions, agricultural solutions and others out of which functioning materials and solutions is the market focused segment. The company provides products under various categories such as agriculture, nutrition, automotive & transportation, packaging & print, chemicals, paints & coatings, coatings solutions, personal care & hygiene, construction, pharmaceuticals, electronics & electric, plastics & rubber, energy & resources, product finder, furniture & wood, pulp & paper, home care and I&I cleaning, textile and leather & footwear out of which automotive & transportation is the market focused category.

For instance,

  • In November 2020, BASF SE announced that the joint venture between it and Petronas chemicals group Berhad is pointing towards long term growth. This development helps the company to increase the revenue and production capacity.

The company has presence in Americas, Europe, Asia-Pacific and Middle East and Africa with their subsidiaries such as BASF Coatings (Germany), Wintershall (Germany), BASF Japan (Japan), Chemetall (Gemany), Cognis (Germany), BASF Polyurethanes GmbH (Germany), TrinamiX GmbH (Germany), Nunhems (The Netherlands), pci augsburg (Germany) among others.