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, Paul Sohlberg

Improvement activities continued in a challenging market environment

The market environment continued to be challenging also during the second quarter. Macroeconomic woes kept weighing on our customers’ businesses in almost all geographical regions and customer industries. During the second quarter, Exel’s order intake and revenue declined by 33% and 31% respectively, compared to the same period last year. Major reasons for the decline were the general slowdown of many customer markets and continued inventory reductions by customers, as well as the sustained soft demand for equipment in the wind power industry especially in the North America region.

Corrective actions yield results, positive adjusted operating profit achieved

Despite significantly lower revenue of EUR 25.4 million during the second quarter, we managed to reach break-even in the first half of 2023. The overall result was burdened by the postponement of orders for equipment for the wind power industry in North America as well as the generally lower demand levels during the first half of 2023. As communicated in our Q1 release, we have initiated several activities to improve our performance, including efforts to activate sales and contain costs.

Read more

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

Read more


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

Read more


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

Read more

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 the annual value of composites market 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, technology and end-use application.

Asia is the largest and the fastest-growing market area within the composites industry. China remains a focus area for us and India is another fast-growing market in Asia. In India local supply is considered important and thus Exel established a joint venture there in 2021. 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 North American and Asian markets.

In the long-term, interest towards composite materials is steadily growing, supported by global megatrends such as sustainability, longer life cycles and rapid urbanization. The main benefits of composites include lightness, energy efficiency, durability and the need for less maintenance. 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.

Increasing sustainability

circular economy, climate change and energy efficiency

Longer life cycles

decreasing lifetime costs and maintenance needs

Rapid urbanization

smarter cities and infrastructure

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.

Subscribe to our news and releases