Krones AG has been a long-standing NETSTAL customer that manufactures machines for filling and packaging beverages and liquid foods. Additionally, Krones is also acquiring Netstal Deutschland GmbH, a sales and service subsidiary based in Stuttgart, along with eleven other sales and service units across US, South America, Europe and Asia.

In terms of value, thermoset resin segment accounted for the largest share of the overall EV Composites marketIn thermoset composites, thermoset resins are used as the matrix with fibers such as carbon fiber, fiberglass, natural fiber, and aramid fiber. Currently, thermoset resins are widely used for manufacturing EV composites as, when cured, they are in the liquid state at room temperature. This unique property of the resin allows for the convenient impregnation of reinforcing fiber.

On account of their rigid interlinking molecular structure, inert chemical composition, and resistance to ultraviolet and chemical attack, thermoset composites are very durable. Structures made of thermoset composites are also low on maintenance. The thermoset resin for EV composites is expected to grow significantly due to the increasing demand for lightweight and high-performance materials in EV production.

The scope of the report includes detailed information about the major factors influencing the growth of the EV Composites market, such as drivers, restraints, challenges, and opportunities. A thorough examination of the key industry players has been conducted in order to provide insights into their business overview, solutions, and services, key strategies, contracts, partnerships, and agreements. New product and service launches, mergers and acquisitions, and recent developments in the EV Composites market are all covered. This report includes a competitive analysis of upcoming startups in the EV Composites market ecosystem.

Dublin, Aug. 09, 2024 (GLOBE NEWSWIRE) -- The EV Composites Market by Fiber Type (Glass Fiber, Carbon Fiber), Resin Type (Thermoplastics, Thermoset), Type (Ultra-Premium, Premium and Non-Premium), Manufacturing Process, Application, and Region - Global Forecast to 2029 report has been added to ResearchAndMarkets.com's offering.The EV Composites market is estimated at USD 2.3 billion in 2024 and is projected to reach USD 5.1 billion by 2029, at a CAGR of 17.1% from 2024 to 2029.

Prominent companies in the market include Toray Industries, Inc. (Japan), Teijin Limited (Japan), Syensqo (Belgium), Piran Advanced Composites (UK), HRC (Hengrui Corporation) (China), Envalior (Germany), Exel Composites (Finland), Kautex Textron GmbH & Co. KG (Germany), SGL Carbon (Germany), POLYTEC HOLDING AG (Austria), Plastic Omnium (France), Rochling SE & Co. KG (Germany), Mar-Bal, Inc. (US), ElringKlinger AG (Germany), and Faurecia (France).

As Europe continues to lead in the transition to electric mobility, the demand for high-performance composites is set to increase, driving further advancements and adoption in the EV industry. Leading companies like Rochling SE & Co. KG and ElringKlinger AG are ramping up their R&D efforts to develop new products, aligning with market trends and meeting the growing demand for EV Composites.Key Attributes

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The purchase deal was first announced on 29 January 2024 and signed on February 6, strengthening Krones' position in the beverage, medical, and thin-wall packaging markets.

As part of the agreement, around 530 NETSTAL employees will join Krones from KraussMaffei, ensuring both continuity and valuable expertise. All existing NETSTAL jobs will be retained. NETSTAL will operate as a separate, independent entity within the Krones Group, led by CEO Renzo Davatz.

KraussMaffei CEO Chi Zhang said: "The sale of NETSTAL is part of our long-term plan to realign KraussMaffei strategically, organisationally and on the global market. In future, we want to concentrate fully on our core business and new growth markets, strengthen the KraussMaffei core brand and focus the Group accordingly. At the same time, the sale of NETSTAL gives us the leeway to make further investments, for example in digitisation and the development of new machines."

Mechanical engineering specialist Krones AG has finalised the acquisition of NETSTAL Maschinen AG, Swiss-based provider of injection moulding solutions, from KraussMaffei for €170 million.

“This transaction is a milestone in the long history of Netstal. Krones opens up strategic perspectives that were previously not possible. The potential for more customer benefits and growth in the beverage sector is obvious. The opportunities in the medical and thin-wall packaging applications are equally exciting. It is a pleasure for me to continue the strategic direction we have taken together with Krones to an even greater extent," added Renzo Davatz, CEO Netstal.

Krones sees significant potential in integrating NETSTAL's technology and market reach, allowing them to offer more specific solutions to customers across the entire beverage and liquid food value chain.

Headquartered in Näfels, Switzerland, NETSTAL provides injection moulding machines in the beverage (PET preforms and caps), medical, and thin-wall packaging markets.

Although NETSTAL's current revenue sits below Krones' group level at just over €200m in the 2023 fiscal year, the company projects to close this gap in the coming years. Notably, NETSTAL contributed nearly 20% to the KraussMaffei Group's 2023 total sales.

In terms of value, RTM manufacturing process segment accounted for the third largest share of the overall EV Composites marketIn 2023, RTM manufacturing process segment accounted for the third largest share of the EV Composites market, in terms of value. RTM is a cost-effective and efficient method for producing high-quality EV composite parts, which is crucial for the growing demand in the EV industry. The trend towards lightweight vehicles for improved efficiency and range is a significant driver, as RTM produces components that are both strong and lightweight.Additionally, RTM allows for high levels of design flexibility and precision, enabling complex shapes and integrated components, which is essential for the innovative designs seen in modern EVs. The process also supports high-volume production, aligning with the scaling needs of the EV market. Moreover, RTM's capability to use various resin systems, including those with high thermal and electrical insulation properties, makes it suitable for manufacturing components that require high performance and safety standards in EVs. Overall, the efficiency, versatility, and sustainability of RTM are key factors driving its growth in the EV composites market.During the forecast period, the EV Composites market in Europe is projected to be the second largest regionThe growth of EV composites in Europe is fuelled by regulatory pressures, government incentives, automotive innovation, infrastructure development, and sustainability goals. Trends such as the adoption of carbon fiber composites, advanced manufacturing techniques, and the focus on battery enclosures highlight the dynamic nature of this market.