In today's era of globalization, cross-border procurement has emerged as a key strategic initiative for many businesses looking to expand their operations. Recently, we had the privilege of assisting a US client in sourcing carbon fiber tube manufacturers from China. The experience was both memorable and worth sharing.
Overview of the Chinese Carbon Fiber Market
According to data from 2022, the Chinese carbon fiber market has reached a staggering $18.3 billion, with a year-on-year growth rate of 20.69%. Projections indicate that by 2023, the market size will approximate $21.96 billion, with expectations to reach $24.45 billion yuan by 2024. Carbon fiber finds extensive applications in industries such as aerospace, automotive, military, advanced equipment manufacturing, and large-scale engineering construction. Presently, the main sectors utilizing carbon fiber include sports and leisure (30.9%) and wind turbine blades (23.5%), with aerospace and military, carbon-carbon composites, and pressure vessels also holding significant market shares.
Let's delve into how we assisted our client in locating carbon fiber tube manufacturers:
Establishing Potential Supplier Lists
Through participation in industry exhibitions, online research, and recommendations from associations, we compiled a list of potential suppliers, providing our client with multiple options.
Contacting Lists
We initiated contact with potential suppliers, seeking to understand their production capabilities, quality management systems, and willingness to collaborate. Initial communication was established via phone calls and emails.
Interviews and Assessments
We conducted on-site visits and interviews with select suppliers to evaluate their production equipment, quality control processes, and technical expertise, ensuring they could meet our client's requirements.
Inquiry and Quotation
Upon confirming the suppliers' qualifications, we sent out inquiries and collected their quotations and delivery terms, providing our client with more options and comparisons.
Sampling and Testing
Finally, we obtained samples from several suppliers and sent them to the client for testing. The client evaluated the quality and performance of the samples to determine the final partners.
Results
Through our efforts and meticulous screening process, the client successfully identified satisfactory carbon fiber tube manufacturers and reached cooperation agreements with them. This cross-border procurement journey not only enriched our experience but also presented new opportunities for our client's business development.
We deeply understand the challenges and opportunities of cross-border procurement. Moving forward, we remain committed to providing our clients with high-quality procurement services, enabling them to achieve greater success in the global market.