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Carbon fiber reinforced plastics market set to grow to $64 billion by 2030

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Carbon fiber reinforced polymers (CFRPs) are a critical class of performance materials, but disruptions from Covid-19 have made the future of the industry uncertain.

In a new report, The Future of Carbon Fiber Composites, Lux Research outlines major challenges and opportunities carbon fibers and CFRPs face and how standardization and recycling are enabling the CFRP market to grow to a $64 billion industry by 2030.

The carbon fiber industry is facing three major challenges: weakness in underlying markets, fiber standardization, and recycling. [Read more…] about Carbon fiber reinforced plastics market set to grow to $64 billion by 2030

Walmart’s doubling of online sales to boost warehouse robotics sector

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Walmart has reported that its e-commerce sales have almost doubled as a result of the coronavirus lockdown forcing everyone to lock themselves up at home as often as possible and shopping online.

The company reported a staggering 97 percent increase in online sales for its second quarter, total revenue of almost $138 billion, which is an increase of $7.4 billion overall across internet and in-store sales.

Additionally, Walmart’s marketplace has also seen a doubling in the number of sellers included, to more than 50,000. [Read more…] about Walmart’s doubling of online sales to boost warehouse robotics sector

Luxshare buys iPhone assembly factory and becomes bigger than Foxconn

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Chinese hi-tech manufacturer Luxshare Precision Industry has bought an iPhone assembly factory from Wistron and has become bigger than Foxconn in terms of market capitalization.

Although Luxshare is well known in the industry, it’s not as famous as its Taiwanese rival Foxconn, which also goes by the name of Hon Hai Precision and has been Apple’s main contract manufacturer for many years.

Luxshare had previously been supplying individual components for iPhones but the Wistron factory purchase means that it can now provide assembled parts or complete devices. [Read more…] about Luxshare buys iPhone assembly factory and becomes bigger than Foxconn

BP’s sale of its petrochemicals business suggests big oil is trying to become big electric

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BP recently sold its petrochemicals business for $5 billion to Ineos, a move which suggests that “big oil” companies are trying to become “big electric” suppliers.

The Wall Street Journal says the sale was the “largest deal by an oil major since the coronavirus outbreak gripped the global economy”.

WSJ says the transaction would enable BP to different itself from its rivals, many of which are forecasting significant growth for the segment and don’t look like they want to sell or leave the petrochemicals sector. [Read more…] about BP’s sale of its petrochemicals business suggests big oil is trying to become big electric

Toyota and Mazda to invest extra $830 million into US factory

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Japanese automakers Toyota and Mazda are planning to invest an additional $830 million into a manufacturing facility in the US, according to a report on Nikkei Asian Review. 

The Mazda Toyota Manufacturing site in Huntsville, Alabama will build sports utility vehicles and the total investment in the facility is estimated to be more than $2.3 billion.

The original plan, announced a couple of years ago, forecast investment to be $1.6 billion, and production was scheduled to start in 2021. Now, says Nikkei, production is expected to start in 2022. [Read more…] about Toyota and Mazda to invest extra $830 million into US factory

ThyssenKrupp sells its elevator business for more than $17 billion

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Giant industrial conglomerate ThyssenKrupp says it has successfully completed the sale of its elevator business, marking a further important milestone in the transformation of the company.

The transaction closed after all the responsible authorities had approved the sale to a bidding consortium led by Advent International and Cinven.

ThyssenKrupp had reached an agreement with the consortium on the purchase of the elevator business earlier this year. With the closing, the company has received the contractually agreed purchase price, which was reported to be $17.2 billion. [Read more…] about ThyssenKrupp sells its elevator business for more than $17 billion

China’s biggest chipmaker to double investment in capital goods to $7 billion

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China’s largest chipmaker Semiconductor Manufacturing International is to double its investment in capital goods to $6.7 billion, according to a report on the Nikkei Asian Review website. 

The company is somewhat flush with cash as a result of net profit skyrocketing by 644 percent in the second quarter. Part of the increase is due to Chinese telecommunications giant Huawei stockpiling chips.

Huawei is trying to prepare for any potential shortage in its supply chain caused by the ban imposed on its activities in the US and Europe. [Read more…] about China’s biggest chipmaker to double investment in capital goods to $7 billion

Toyota boss calls for transformation as profit plunges 74 percent

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The president of automotive giant Toyota has called for the transformation of company amid a 74 percent decrease in profit, mostly as a result of the coronavirus pandemic.

Toyota this week has reported a profit of approximately $1.5 billion for the most recent quarter, which is down from more than $6 billion in the same quarter the previous year.

Japanese news outlet Asahi Shimbun reports that Toyota ’s sales went in “all markets”, with the company warning that huge uncertainties remain over the pandemic. [Read more…] about Toyota boss calls for transformation as profit plunges 74 percent

Computer games giant Nintendo’s profits skyrocket by more than 500 per cent

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Nintendo, one of the original games companies and still one of the biggest despite the “casual” gaming revolution brought about by smartphones, is reporting an astounding increase in profits. 

According to the Financial Times, Nintendo’s net profits “soared by 541 percent” at the height of the coronavirus pandemic and its consequential lockdowns, when most people in most countries stayed home.

Nintendo often suffers from too much demand for its consoles, as it did when its Switch handheld console – which looks rather like a smartphone, as shown in the main image – sold out around the world with many millions still searching for it. [Read more…] about Computer games giant Nintendo’s profits skyrocket by more than 500 per cent

Nvidia reportedly in talks to buy ARM

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Nvidia, one of the largest chipmakers in the world with a leading position in the robotics and autonomous cars market, is in talks to buy ARM, according to a report on the Bloomberg website. 

ARM is a chip designer which was bought in 2016 for $32 billion by SoftBank Group, as reported by the Financial Times.

SoftBank Group is a giant Japanese telecommunications company and is the parent of SoftBank Robotics. [Read more…] about Nvidia reportedly in talks to buy ARM

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