Market Share of China Automotive Composites Industry
China's Automotive Composites Market is dominated by several key players such as Hexcel Corporation, Mitsubishi Chemical Corporation, SGL Carbon SE, Toray Industries Inc., and others. The rapid expansion of automotive manufacturers across the country is likely to witness major growth for the market in the coming years. The growing partnership between the manufacturers is anticipated to witness major growth in the market during the forecast period. For instance,
- In August 2023, Tejin Ltd. to transfer the shares of its consolidated subsidiary Teijin Automotive Technologies (Tangshan) Co., Ltd. to Qingdao Keda Times Intelligent Equipment Co., Ltd. in China.
- In July 2023, Dymag collaborated with Hyundai Motor on the development of innovative new carbon hybrid wheel technology for Hyundai's N Performance vehicles, in collaboration with its key partner, composites material specialists Hankuk Carbon.
- In April 2023, Continental officially started the third phase of the Changzhou Plant expansion project in collaboration with Jiangsu Changshun Group, marking its second joint venture in China. The expansion project is expected to increase the production capacity of high-performance composite surface materials by 13 million square meters per year, taking the total annual capacity of surface materials to 35 million square meters.
China Automotive Composites Market Leaders
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Hexcel Corporation
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BASF SE
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SGL Carbon SE
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Mitsubishi Chemical Corporation.
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Toray Industries, Inc.
*Disclaimer: Major Players sorted in no particular order
