France - Continental Structural Plastics (CSP) has announced that it will install a new sheet molding compound (SMC) line at its facility in Pouance. Costing a total of €5.1m (US$6m), the line will allow the supplier to expand its range of advanced composite products made with both glass and carbon fibres. It is expected to be ready for operation by the third quarter of 2019.
"The addition of this SMC line to the Pouance facility is an important step in our European growth plans," explained Philippe Bonte, president of CSP Europe. "It will enable us to provide full-service capabilities to our customers here, as well as provide us with an opportunity to further enhance our already significant materials R&D efforts in Europe."
The company, which was acquired by the Teijin Group in 2017, currently has the capacity to produce 84,000 tons of SMC in the US alone. In 2014, CSP bought five composites operations from Magna Exteriors.
According to a report from the research and consulting firm MarketsandMarkets, the automotive composites market was valued at $6.81 billion in 2016 and is projected to reach $13.14 billion by 2022, marking a CAGR of 12.26% between 2017 and 2022. It highlights Teijin as a key player in the business.