Michelin leverages tire expertise to expand in composites market
Michelin is broadening its use of composite materials beyond tire manufacturing, aiming for leadership in new sectors by drawing on over 130 years of experience.
Tire manufacturer Michelin is leveraging its extensive expertise in composite materials to expand into new markets beyond its core business. The company views composites as a key technology for future solutions.
With over 130 years of experience in materials science, particularly in tire development, Michelin believes composites play a crucial role. "Michelin has all the requisites to become a world leader in composites," stated CEO Florent Menegaux, referring to the expertise gained through tire production.
Composites, which combine two or more different materials, offer enhanced properties. Michelin's iconic tire is itself a complex composite product with over 200 components. This experience has provided Michelin with unique knowledge in material combination and meeting demanding performance requirements.
Michelin is expanding its operations by developing existing activities and through acquisitions. The company already manufactures a range of composite products besides tires, including conveyor belts, seals, membranes, and coated fabrics. Through subsidiaries like Solesis, Michelin has also established a strong presence in medical fields such as implants and regenerative medicine.
The expansion aims to serve fast-growing markets in sectors including mobility, construction, aerospace, low-carbon energy, and healthcare. The strategy involves a combination of organic growth and strategic acquisitions to leverage synergies and develop new applications based on its materials science expertise.