Teijin Limited completed the acquisition of all the shares of Renegade Materials Corporation (Renegade), a leading North America supplier of highly heat-resistant thermoset prepreg for the aerospace industry on August 1, Eastern Standard Time.
The acquisition of Renegade will allow Teijin to expand its aerospace business, including next-generation aircraft’s engine parts, and also to experience the capabilities of renegade in thermoset prepegs that incorporate highly heat-resistant resins.
As per a report published by Stratview Research, the global thermoset prepreg market is estimated to grow at a healthy rate over the next five years to reach US$ 6.8 billion by 2024. Currently, thermoset prepreg accounts for more than 75% of the total prepreg market and is expected to remain the most dominant in the years to come, propelled by organic growth of the aircraft industry, surge in the production rate of next-gen. aircraft programs (A350XWB and B787), increasing preference towards composite parts over traditional metallic ones, development of longer and larger wind turbine blades, reduction in part cycle time, and requirement of lightweight and durable components/parts.
Both Teijin Group and Renegade Materials Corporation are considered among the key manufacturing players in the Thermoset Prepreg Market. With Teijin, one of the key players, acquiring another key player Renegade, a new market giant will be in the operations.
Teijin is strengthening its carbon fiber and intermediate materials businesses to solidify its position as a leading provider of solutions for aerospace applications. Teijin is targeting annual sales in this field of USD 90 million by 2030.
“We have been increasingly focussing on our carbon fiber business on the aircraft field as a top supplier to world-leading aircraft makers,” says Shukei Inui, General Manager of the Carbon Fibers Business Unit at Teijin. “Renegade’s well-trusted technologies as well as its sales channels in this field, together with our global sales network, will reach wider markets to strong, lightweight, high-performance materials that offer environmentally sensitive solutions for improved fuel efficiency.”
“We are excited to become part of Teijin’s global family located in the U.S,” says Eric Collins, Chief Executive & Financial Officer of Renegade Materials. “Teijin is committed to supporting our advanced materials and proprietary production processes, allowing us to reach wider markets through its sales network and marketing initiatives. Significant resources are now available to expand product development and manufacturing capabilities, powered by Teijin’s vast expertise in carbon fibers and chemistry.”