Investing in Exel Composites

Reasons to invest in Exel

Optimally positioned within a growing market

With our efficient, continuous production technologies, we answer to the growing demand for composite materials. This demand is driven by global megatrends, such as sustainability, urbanization and total life cycle cost management.

Technology leadership creates competitive advantage

Our leading expertise in a variety of composite production technologies and raw materials allows us to solve our customers’ challenges. We continuously perfect our offering with over 60 years of R&D experience.

Global operations enable global customers

We are the only company within our industry with manufacturing, R&D and sales presence in all main market areas. This sets us ahead of our competitors.

Diversified business portfolio reduces risk

Diversified customer industries and regional presence reduces the volatility of our sales. Our business model, based on tailored products, supports customer commitment. Typically, our customer relationships span over a decade.

Sustainability is at the core of our business

We provide sustainable composite solutions that help our customers save resources and mitigate climate change. Composites’ unique properties, such as lightness and durability, provide for longer life cycles and improved performance, lowering thus the negative impacts of the end-product on the environment.

President and CEO, Riku Kytömäki

The year has started well for Exel. Revenue increased in the first quarter of 2022 compared to the previous year, driven particularly by Equipment and Other customer industry. Buildings and Infrastructure also showed continued growth. Transportation, which has been hard hit by the pandemic, continued to recover as revenue increased clearly compared to the previous year.

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Vision and purpose

Our purpose is to solve challenges and save resources with composites Our vision is to be the first choice for sustainable composites solutions globally

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Strategy

Our strategy is based on scalable applications, chosen growth initiatives, expanding our global footprint and technology offering, and on improving operational efficiency.

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Sustainability

Sustainability is a critical part of Exel’s business. We are committed to market transparency and raising environmental standards.

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Exel Composites in the value chain

Market environment

Exel Composites operates worldwide in the composites market, serving customers in several different customer industries.

According to industry associations, such as JEC, the annual volume of composites of approximately USD 80 billion is only about 1% of the huge global materials market, which is dominated by steel, plastic, and aluminum. The pultruded composites market represents less than 5% of the total composites market. Exel sees growth potential for composites as a material as well as for pultrusion as a production technology within the composites market.

Growth drivers

Global composites market is estimated to grow at approximately 2%–5% per year in the coming years, depending on the region.

Geographically, Asia and specifically China are the largest and the fastest-growing markets globally. China remains a focus area for us even though recent economic and political uncertainty connected with the country has slightly reduced the market’s growth rate expectations. India is another fast-growing market in Asia, where local supply is considered important and where Exel established a joint venture in 2021. The North American market is the second largest composites market globally in terms of value and growth. Growth is expected to be slower in the mature European market, which already today is smaller than Asia or North America.

In the long-term, interest towards composite materials is steadily growing, supported by global megatrends such as rapid urbanization, sustainability, and longer life cycles. The main benefits of composites include lightness, energy efficiency, durability and the need for less maintenance and replacement. For example, increased energy efficiency requirements within the transportation industry and the increased utilization of anti-corrosive materials in the construction industry drive the increased use of composites. Exel’s ambition is to leverage on these trends and mitigate the negative impacts of climate change by offering its customers sustainable composite products that respond to this demand.

Rapid urbanization

smarter cities and infrastructure

Increasing sustainability

circular economy, climate change and energy efficiency

Longer life cycles

decreasing lifetime costs and maintenance needs

Market share

The composites market is fragmented. Whereas Exel Composites is not a large company, it is nevertheless a leading company in the field of pultrusion and the only pultrusion company with significant presence on all major markets: Europe, Asia, and North America. This global presence differentiates Exel from its competitors and enables head-to-head competition with global suppliers of traditional materials.

Exel Composites’ customer base is wide-spread over several segments and markets, which means that also its competitors are found within specific segments and markets rather than across. Some of the main competitors include for example Fiberline from Denmark, Epsilon from France as well as Creative Pultrusion and Strongwell in the United States.

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