A Look at the Material Suppliers Behind SpaceX

Recently, rumors about SpaceX's IPO have continued to attract high attention from global capital markets. According to overseas media and market news, it is rumored that the company's IPO project may be advanced this year, with its current non-public market valuation ranging from about $180 billion to $210 billion.

The rumor has sparked a wave of attention in the capital market, with many investors asking on interactive platforms whether domestic aerospace material companies directly supply SpaceX, and the business layout of leading enterprises in the domestic materials sector in the aerospace field.

Enterprises at home and abroad related to SpaceX supply chain

Currently, overseas-listed companies are the core suppliers of SpaceX's polymer materials, with the key market share firmly held by international chemical giants.

Specialty Engineering Plastics Sector: Solvay serves as SpaceX’s primary supplier of high-performance polymers, providing aerospace-grade PEEK, PEI, and PPS across its full product portfolio—directly utilized in high-temperature components of Falcon rockets and Starship engines, as well as satellite structural parts. SABIC supplies ULTEM™ PEI resin and other products, serving as a core materials supplier for Starlink satellite and rocket lightweight load-bearing components. DuPont’s aerospace-grade polyimide (PI) and liquid crystal polymer (LCP) materials, along with Victrex’s aerospace-grade PEEK polymers, are key materials for SpaceX’s core electronic components and sealing structural parts—all as direct Tier-1 suppliers. Additionally, BASF and Celanese directly supply SpaceX with aerospace-grade high-temperature nylons, polysulfones, and other specialty engineering plastics.

In the field of modified materials: Atmet provides customized aerospace-grade modified engineering plastics and carbon fiber reinforced modified materials for SpaceX, serving as a first-tier supplier of core modified materials; LyondellBasell supplies modified polyolefin materials, used for insulation and protective components of rocket pipelines. In the field of general engineering plastics, Covestro supplies aerospace-grade PC resins, used in Starlink ground terminals and non-load-bearing structural components of satellites, acting as a direct supplier to SpaceX.

Among domestic listed companies, there are only three first-tier suppliers that have achieved direct mass supply, all of which have been disclosed by official sources or verified by authoritative media.

Sunway Communication is the exclusive first-tier global supplier of high-frequency, high-speed connectors for SpaceX's Starlink ground terminals. It has independently developed and produced aerospace-grade LCP special engineering plastic film and modified materials, which have passed all certifications after 23 months of rigorous testing. 70% of the production capacity of its Mexican factory is dedicated to supplying SpaceX. By 2025, 70% of its satellite business revenue will come from related orders, and it also supplies millimeter-wave antenna components for the Starship.

Reesun Technology is the only Chinese and one of only three global suppliers of aerospace-grade ultra-fine glass fiber-reinforced modified thermal insulation materials certified by SpaceX. Its products are used in the thermal insulation layers of rocket cryogenic fuel tanks and the thermal control systems of Starlink satellites. Reesun has been supplying these materials directly and stably to SpaceX since 2020, with cooperation contracts secured through 2028.

Foster is the world’s only mass-production supplier of space-grade POE-modified encapsulation films for Starlink satellite solar panels. Its products have passed 24-month space environment simulation testing and are already supplied in bulk directly.

State-owned aviation-related enterprises

Compared to SpaceX, the following are the core listed companies in China that supply aerospace-grade materials for the national space program (Long March rockets, space station, lunar and Mars exploration, etc.): In the field of special engineering plastics, Wote Co., Polyplast, Zhongyan Co., and Jinfa Technology supply core materials such as PEEK and LCP in bulk. In the field of modified materials, Jinfa Technology, Zaisheng Technology, Daon Group, and Guoen Co. provide customized modified materials and insulating materials. In the field of general engineering plastics, Wanhua Chemical, Shenma Co., and Luxi Chemical supply core base materials.

These companies have all obtained aerospace qualification certifications, achieving independent control over aerospace materials. Special engineering plastics are accelerating domestic substitution, providing stable support for domestic aerospace projects.