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Radar · Chemicals and Materials Tech in Spain

Best Chemicals and Materials Tech Companies in Spain

The 65 best Chemicals and Materials Tech companies in Spain in 2026, ranked by funding and momentum. Funding, investors, founders, valuation, tech stack and live signals. Top: Recoverfiber.

65companies tracked
$154.6Mdisclosed funding
1unicorns
33have raised
FLIAR INTELLIGENCE · CHEMICALS AND MATERIALS TECH × SPAIN

Our analysis of 50 Chemicals and Materials Tech companies

$4.4b in tracked funding; 79% of the stack-profiled cohort runs cloud-native; funding activity peaked in 2025.

50companies analysed
79%cloud-native stacks
2025funding peak (by rounds)
1unicorns
2015median founding year
223kcombined LinkedIn audience
57%of audience held by top 3
3companies hiring publicly (12 mo)

Ranked: Best Chemicals and Materials Tech companies in Spain

#CompanyDisclosed fundingLast roundStageFounderEmployeesTech stackPatents & IP focusRecent signals
1Recoverfiber 🦄
Manufacturer of recycled cotton fiber and fiber blends for textiles
50Moat top 15%Funding top 36%Tech top 40%Global top 44%
All 7 signals ▾
Moattop 15%
Fundingtop 36%
Techtop 40%
Globaltop 44%
Growthtop 45%
Talenttop 45%
Marketbottom 41%
Moat: Editorial + unicorn rating 9/10 · Unicorn
Funding: Raised $100M · 1 rounds over 4 yrs (0.2/yr)
rank vs industry peers · Fliar Intelligence Index 50/100
$100M48 mo agoSeries DAnders Sjoblom
Global Chief Executive Officer
4Craft CMSApple iCloud MailMicrosoft 365+29—1 launch · 1 award
2Frenetic AI
Provider of AI and cloud-based manufacturing technology for magnetic components
$17M31 mo agoSeries AAlfonso Torre
Co-Founder
76Webflow EcommerceWebflowApple iCloud Mail+20——
3Element Zero
Developer of green metals using renewable energy
$10M29 mo agoSeedBart Kolodziejczyk
Co-Founder
—WordPressMySQLPHP+14——
4Vytrus Biotech
Developer of plant-based active ingredients for cosmetic products
$4M24 mo agoSeries AAlbert Jane Font
Co-Founder and CEO
28WordPressMySQLPHP+3218 patents
Peptide-based hair loss therapeutics and plant-derived skin/wound healing formulations
1 launch · 2 awards
5Nano Coatings
Developer of a technology for nanocoating with synthetic diamonds
$4M81 mo agoFunding RaisedPedro Martin Velasco
CEO
——5 patents
Patents concentrated in electrical & electronics
—
6Gnanomat
Developer of advanced materials for energy storage and printed electronics
$3M65 mo agoAcquired—9—11 patents
Nanostructured carbon‑metal‑oxide catalysts for high‑performance metal‑air batteries
—
7Nanogap
Manufactures silver-based nanomaterials
$3M89 mo agoSeries A—20WordPressMySQLPHP+22——
8VEnvirotech
Organic waste management and recycling solution provider
$2M75 mo agoSeedNoelia Alfaya
Co-Founder & CEO
30WordPressMySQLPHP+14——
9Managing Composites
Provider of composite material engineering and manufacturing services
$2M49 mo agoSeedLuc Brooch
CEO
32WordPressMySQLPHP+22—1 job opening · 1 expansion
10Leartiker
Provider of polymers technology solutions
$1M64 mo agoFunding RaisedJon Anakabe Onaindi
CEO
—BootstrapApache HTTP ServerGoogle Font API+5—1 job opening
11Graphenea
Developer of high-quality graphene devices and foundry services
$1M41 mo agoSeedJesus Fuente
Founder & CEO
33Cart FunctionalityShopifyZoho+2050 patents
Graphene‑oxide reinforced adhesives and composites for laminated wood‑based panels
—
12Avanzare
Develops additive materials using nanotechnology
$938K110 mo agoLate StageJulio Gomez Cordon
President & CEO
————
13BioInspired Materials
Developer of biomaterials for sustainable solutions
24Talent top 28%Funding bottom 40%Market bottom 37%Global bottom 29%
All 4 signals ▾
Talenttop 28%
Fundingbottom 40%
Marketbottom 37%
Globalbottom 29%
Talent: 4 named leaders on record · 4 C-suite/founder profiles curated
Funding: Raised $842k across 1 rounds · 1 rounds over 1 yrs (1.0/yr)
rank vs industry peers · Fliar Intelligence Index 24/100
$842K13 mo agoSeedJavier Macia
Co-Founder
————
14Deepbluebiotech
Developer of technology transforming carbon dioxide into high-value molecules
$800K18 mo agoSeedLucia Burdisso
Co-Founder & Chief Scientific Officer
———1 job opening
15SIMUNE
Software company providing scientific solutions for Materials Modelling and Simulations for industry and…
$748K40 mo agoFunding RaisedDaniel Simo
CEO
10———
16Calpech
Carbon nanoparticle manufacturer
6Talent bottom 49%Funding bottom 38%Global bottom 29%Market bottom 16%
All 4 signals ▾
Talentbottom 49%
Fundingbottom 38%
Globalbottom 29%
Marketbottom 16%
Talent: 1 named leader on record · 1 C-suite/founder profile curated
Funding: Raised $628k across 1 rounds · 1 rounds over 2 yrs (0.5/yr)
rank vs industry peers · Fliar Intelligence Index 6/100
$628K18 mo agoSeedYuriy Budyk
Co-Founder & CEO
2——1 award
17Mateprincs
Manufacturer of conductive inks for printed electronic devices
$581K93 mo agoSeedJose Echeverria
Managing Director
2———
18Applied Nanoparticles
Provider of the nanocomposites system
$529K74 mo agoFunding RaisedVictor Puntes
Founder
————
19Mestrelab
Provider of a suite of analytical chemistry software
$382K57 mo agoFunding RaisedJavier Sardina
Co-Founder
48WordPressMySQLPHP+28——
20BIHURCRYSTAL
Provider of novel materials and UHV equipments
$363K93 mo agoDeadpooledFrancisco Lopez Gejo
CEO
————
21Distinkt
Nano-ink manufacturer
$363K26 mo agoSeedAlex Lopez
Co-Founder
—WixSentryEnvoy+12—1 award
22SENSING Tex
Develop and market smart fabric sensors and luminous textile
$221K101 mo agoFunding RaisedMiquel Ridao Granado
CEO & Co-Founder
11WordPress Block EditorCart FunctionalityWooCommerce+3019 patents
Integrated piezoresistive and luminous smart textiles for wearable health monitoring and device interfacing
3 launchs · 1 partnership
23ControlNano
Provides tool for exposure to nanoparticles
$219K74 mo agoFunding RaisedDemetrio Gil
CEO
————
24Axeb
Manufacturer of hygiene and personal care products
$215K117 mo agoFunding RaisedRicard Casals
CEO & Founding Partner
—WordPressPleskMySQL+21——
25Artificial Nature
Developer of biomaterials and bioplastics for the regeneration of tissues
$199K61 mo agoSeedXavier Marin
Founder & CEO
——9 patents
Synthesis and applications of specialized triblock polymer materials
—
26Feltwood
Manufacturer of biopolymer materials from agricultural waste
$113K86 mo agoSeedEduardo Paz
CEO
11——1 launch
27PYRATEX
Online platform specializing in sustainable and innovative fabrics made from natural fibers
$112K79 mo agoFunding RaisedRegina Polanco
Founder & CEO
34Wix eCommerceWixSentry+12—1 partnership
28D&BTech
Provider of wastewater treatment solutions
$111K72 mo agoFunding RaisedJavier Martin
Founder
4———
29Future Chromes
Developer of nanotechnology-based photochromic materials
$111K72 mo agoFunding RaisedClaudio Roscini
Co-Founder & CEO
————

Top 12 Chemicals and Materials Tech companies in Spain

#1
Seed · Barcelona, Catalonia · founded 2019
$842.1Kraised
▾

Developer of biomaterials for sustainable solutions. It provides users with a company that design and development of materials and systems inspired by nature and biological processes. It also offers solutions to convert waste from agri-food sector into value by applying fermentation processes.

Fliar Intelligence Index™ 24how this company ranks against its industry peers
Talent
top 28%
Funding
bottom 40%
Market
bottom 37%
Global
bottom 29%
Talent: 4 named leaders on record · 4 C-suite/founder profiles curated
Funding: Raised $842k across 1 rounds · 1 rounds over 1 yrs (1.0/yr) · Last round Seed (May 2025)
Audience (LinkedIn): 519 LinkedIn followers
Funding rounds
  • May 2025Seed$842.1K
Founders & team
Javier MaciaCo-FounderRamon Farre-EscofetCo-FounderCarlos Rodriguez-CasoCo-Founder
Investors
BeAble Capital
#2
Seed · Barcelona, Catalonia · founded 2023
$800Kraised
▾

Developer of technology transforming carbon dioxide into high-value molecules. The company re-engineers natural pathways using cyanobacteria and AI-driven metabolic modelling. This platform unlocks a range of sustainable chemicals, enabling novel applications across industries. The company focuses on producing sustainable chemicals without trading efficacy.

LinkedIn Pulse recent public activity · Jul 2026
Audience: 2k LinkedIn followers
Hiring: 1 hiring post in 12 mo (public) · hiring: Deepstream Processing Engineer, Deepstream Process Engineer
Funding rounds
  • Dec 2024Seed$800K
Founders & team
Lucia BurdissoCo-Founder & Chief Scientific OfficerTim CorcoranCo-Founder & CEO
Investors
Sustainable Ventures, SFC Capital, OnePlanetCapital, PCSi, Carbon13, Undaunted
#3
Seed · Alacanti, Valencian Community · founded 2021 · 2 employees
$628Kraised
▾

Carbon nanoparticle manufacturer. It develops iron nanoparticles encapsulated in CE-nZVI for environmental solutions such as improvement of biogas production and elimination of hydrogen sulfide in biodigesters,elimination of heavy metals in contaminated water and soil, denitrification of aquifers , desulfurization of gaseous streams.

Fliar Intelligence Index™ 6how this company ranks against its industry peers
Talent
bottom 49%
Funding
bottom 38%
Global
bottom 29%
Market
bottom 16%
Talent: 1 named leader on record · 1 C-suite/founder profile curated
Funding: Raised $628k across 1 rounds · 1 rounds over 2 yrs (0.5/yr) · Last round Seed (Dec 2024)
Global: Single-market focus (Spain)
Audience (LinkedIn): 2k LinkedIn followers
Activity (LinkedIn): 1 awards announced in 12 mo
Funding rounds
  • Dec 2024Seed$628K
Founders & team
Yuriy BudykCo-Founder & CEO
Investors
BeAble Capital
#4
Series A · Madrid, Community of Madrid · founded 2015 · 76 employees
$17.3Mraised
▾

Provider of AI and cloud-based manufacturing technology for magnetic components. It provides fabless magnetic design solutions to design inductors for high ripple currents and full-bridge converter transformers.

LinkedIn Pulse recent public activity · Jul 2026
Audience: 21k LinkedIn followers — 9.5% of this cohort's audience
Funding rounds
  • Nov 2023Series A$12M
  • May 2022Grant (prize money)$53.8K
  • Sep 2021Series A$5.3M
Founders & team
Alfonso TorreCo-Founder
Investors
EIC Fund, Kibo Ventures, 42 Capital, Join Capital, Bankinter, Bonsai Partners
Tech stack
Apple Icloud MailCloudflareCloudflare Bot ManagementCookieyesGoogle Font ApiGoogle Tag Manager
#5
Series A · Terrassa, Catalonia · founded 2009 · 28 employees
$3.7Mraised
▾

Developer of plant-based active ingredients for cosmetic products. The company develops plant cell-based active ingredients made from different technologies including plasma cell factors.

LinkedIn Pulse recent public activity · Jul 2026
Audience: 11k LinkedIn followers — 4.8% of this cohort's audience
Activity: 1 product launches · 2 awards announced in 12 mo
Funding rounds
  • May 2024Series A$2.5M
  • Sep 2019Seed$551.1K
  • Oct 2017Seed$701.1K
Founders & team
Albert Jane FontCo-Founder and CEO
Investors
Capital Cell, GVC Gaesco, ICF, Catalonia Trade & Investment
Tech stack
AddtoanyAddtoany Share ButtonsAnimate.CssBootstrapClipboard.JsCloudflare
#6
Seed · Malaga, Andalusia · founded 2022
$10Mraised
▾

Developer of green metals using renewable energy. It is involved in developing mineral processing technology that utilizes renewable energy to produce green metals, with a focus on reducing carbon emissions in the iron and steel industry.

Founders & team
Bart KolodziejczykCo-FounderMichael MastermanCo-Founder & CEO
Investors
Playground Global
Tech stack
All In One SeoGoogle AnalyticsGoogle Tag ManagerHttp/3HubspotLitespeed
#7
Series D · Madrid, Community of Madrid · founded 1947 · 4 employees
$100Mraised
▾

Manufacturer of recycled cotton fiber and fiber blends for textiles. The company transforms textile waste into valuable recycled cotton fiber. It integrates its process into the supply chain with strategic partners. The company offers blended fibers made with color-matched recycled cotton and recycled polyester. It also provides fabrics and unbranded basic garments.

Fliar Intelligence Index™ 50how this company ranks against its industry peers
Moat
top 15%
Funding
top 36%
Tech
top 40%
Global
top 44%
Growth
top 45%
Talent
top 45%
Moat: Editorial + unicorn rating 9/10 · Unicorn
Funding: Raised $100M · 1 rounds over 4 yrs (0.2/yr) · Last round Series D (Jun 2022)
Tech: 33 technologies across 4/8 capability areas · Cloud: Cloudflare · Security: Cloudflare Bot Management, Hsts
Audience (LinkedIn): 33k LinkedIn followers — 14.8% of this cohort's audience · 96 engagements/post (3.8× cohort median)
Activity (LinkedIn): 1 product launches · 1 partnerships · 1 awards (incl. Circular Textiles Foundation) announced in 12 mo
Founders & team
Alfredo GarciaSenior Executive AdvisorAnders SjoblomGlobal Chief Executive Officer
Investors
Goldman Sachs Asset Management, STORY3 Capital Partners, Eldridge Industries
Tech stack
Animate.CssApple Icloud MailBlitzCloudflareCloudflare Bot ManagementCloudflare Browser Insights
#8
Seed · Barcelona, Catalonia · founded 2022
$362.8Kraised
▾

Nano-ink manufacturer. It uses nanotechnology to manufacter smart ink that helps prevent counterfeiting. It caters to currency, documents, luxury goods, and tax stamps.

LinkedIn Pulse recent public activity · Jul 2026
Audience: 1k LinkedIn followers
Activity: 1 awards announced in 12 mo
Funding rounds
  • Apr 2024Seed—
  • Feb 2024Grant (prize money)$362.8K
Founders & team
Alex LopezCo-FounderLuca VenzaCo-Founder & CEO
Investors
CDTI, Berkeley SkyDeck
#9
Seed · San Sebastian, Basque Country · founded 2010 · 33 employees
$1.1Mraised
▾

Developer of high-quality graphene devices and foundry services. It is involved in manufacturing graphene materials, offering customized graphene foundry services on wafers up to 6 inches with tailored designs. The company produces high-quality graphene products, including films, sheets, and powders, for various applications such as bioengineering, energy technology, and composite materials. Its products are used in research and industrial settings, enabling fast development and testing of graphene-based solutions.

LinkedIn Pulse recent public activity · Jul 2026
Audience: 12k LinkedIn followers — 5.5% of this cohort's audience
Funding rounds
  • Jan 2023Grant (prize money)$155.7K
  • May 2021Grant (prize money)$1.1M
  • Nov 2020Grant (prize money)$414.1K
  • Oct 2020Grant (prize money)$613.6K
Founders & team
Jesus FuenteFounder & CEOAiora UrienCFO
Investors
Europa, EIC Fund, Repsol
Tech stack
AdrollAdroll Cmp SystemApple PayBootstrapCart FunctionalityCloudflare
#10
Funding Raised · San Sebastian, Basque Country · founded 2014 · 10 employees
$747.7Kraised
▾

Simune Atomistics is a software company that provides scientific solutions for materials modeling and simulations to industry and academic institutions. They specialize in delivering software for atomistic simulations and offer customized services in the field of atomic-scale and electromagnetic simulations.

LinkedIn Pulse recent public activity · Jul 2026
Audience: 922 LinkedIn followers
Activity: 3 product launches announced in 12 mo
Funding rounds
  • Feb 2023Grant (prize money)$137.4K
  • Feb 2019Grant (prize money)$56.9K
  • Jan 2019Grant (prize money)$495.5K
  • Oct 2018Grant (prize money)$57.9K
Founders & team
Daniel SimoCEO
Investors
EIC Fund, Europa
#11
Acquired · Madrid, Community of Madrid · founded 2014 · 9 employees
$3.3Mraised
▾

Developer of advanced materials for energy storage and printed electronics. The company focuses on manufacturing and commercializing materials for various industrial sectors. It leverages its carbon-hybrid materials platform to address industrial challenges. The company extends application potential with new technologies and products. It offers collaboration opportunities to co-develop solutions.

LinkedIn Pulse recent public activity · Jul 2026
Audience: 971 LinkedIn followers
Funding rounds
  • Jan 2021Grant (prize money)$437.8K
  • Nov 2018Grant (prize money)$1.4M
  • Dec 2016Grant (prize money)$1.3M
  • Jul 2016Grant (prize money)—
Investors
Europa, Fundación Repsol, EIC Fund
Tech stack
WordpressCart FunctionalityMysqlPhpYoutubeAnimate.Css
#12
Seed · Madrid, Community of Madrid · founded 2018 · 32 employees
$1.6Mraised
▾

Provider of composite material engineering and manufacturing services. This company offers turnkey project management, from initial concept and feasibility studies through design, engineering (CAD/CAE/DFM), tooling, production optimization, and final product delivery. They serve various sectors including aerospace, automotive, marine, architecture, and sports & leisure, applying expertise gained across these fields to create innovative solutions. The company also provides training through its Native Lab division, focusing on composite materials. They are involved in the MC4 project, a European initiative promoting circularity in composite material production.

LinkedIn Pulse recent public activity · Jul 2026
Audience: 74k LinkedIn followers — 33.2% of this cohort's audience
Hiring: 1 hiring post in 12 mo (public) · hiring: Manufacturing Engineer, Project Engineer
Activity: 1 expansions announced in 12 mo
Funding rounds
  • Apr 2022Seed$1.6M
  • Apr 2022Grant (prize money)$36.3K
Founders & team
Luc BroochCEO
Investors
Bouwen Sistemas Industriales, Europa
Tech stack
CloudflareCloudflare Bot ManagementCookieyesCore-JsDiviGoogle Analytics

Funding & investor landscape

$154.6Mtotal disclosed funding
32companies funded
96disclosed rounds
0rounds last 90 days
Most active investors
Europa23 rounds
EIC Fund14 rounds
Fundación Repsol4 rounds
BeAble Capital3 rounds
Repsol2 rounds
Ship2B2 rounds
Uninvest2 rounds
42 Capital1 rounds
Agrobiotech Innovation1 rounds
Bankinter1 rounds

Notable founders

Javier Macia
Co-Founder · BioInspired Materials
Ramon Farre-Escofet
Co-Founder · BioInspired Materials
Lucia Burdisso
Co-Founder & Chief Scientific Officer · Deepbluebiotech
Tim Corcoran
Co-Founder & CEO · Deepbluebiotech
Yuriy Budyk
Co-Founder & CEO · Calpech
Alfonso Torre
Co-Founder · Frenetic AI
Albert Jane Font
Co-Founder and CEO · Vytrus Biotech
Bart Kolodziejczyk
Co-Founder · Element Zero
Michael Masterman
Co-Founder & CEO · Element Zero
Alfredo Garcia
Senior Executive Advisor · Recoverfiber
Anders Sjoblom
Global Chief Executive Officer · Recoverfiber
Alex Lopez
Co-Founder · Distinkt
Prism market signals · Spain · country-scoped Prism corpus, 1,332,862 docs

Market landscape — 10 sub-themes by coverage

Share of Chemicals and Materials Tech coverage by sub-theme.

Regulatory-risk over time rising

Funding & growth over time

funding rising · growth rising

RESEARCH SIGNALS · Spain

How research on Advanced Materials is moving in Spain

A read on the academic research around Advanced Materials — which themes are gaining ground, the institutions and researchers driving them, and how the tone is shifting. Based on 180 Spain-affiliated papers.

research sentiment over time
201720222026
enthusiastic · positive · guarded tone
Tone is overwhelmingly optimistic and intensifying — the enthusiastic (strongly-positive) share moved 54% → 83% across 2017–2026.
top research entities
  • Ikerbasque26
  • Basque Center for Materials, Applications and Nanostructures20
  • Universitat Politècnica de Catalunya20
  • University of the Basque Country16
  • Instituto de Nanociencia y Materiales de Aragón11
leading researchers
Enrique García‐Macías · S. Lanceros‐Méndez · Antonella D’Alessandro · Daniel Garcia‐Gonzalez · P. Martins · Filippo Ubertini · Quintana Romero, Dulce Alitzel · Austin Downey
▲ Breakthroughs66 · 37%
▲ 31%→44% share
▲1.4× share momentum5 median citations74% since 2021mostly methods-led
Breakthroughs are rising (31%→44% of field), led by Smart material.
rising sub-themes (early→recent)
  • Smart material6→23
  • Actuator4→12
  • Nanotechnology2→9
  • Shape-memory alloy1→7
  • Elastomer2→8
Landmark Programmable Self‐Assembling 3D Architectures Generated by Patterning of Swellable MOF‐Based Composite Films · 125 cites
◆ Advancements64 · 36%
▼ 46%→29% share
▼0.6× share momentum9 median citations52% since 2021mostly methods-led
Advancements are cooling (46%→29% of field), led by Magnetic field.
rising sub-themes (early→recent)
  • Magnetic field1→4
  • Actuator5→7
  • Magnetorheological fluid3→5
  • Smart material7→9
Landmark Magnetorheological fluids: a review · 1,080 cites
▼ Concerns14 · 8%
▼ 8%→7% share
▼0.9× share momentum3 median citations57% since 2021mostly reviews
Concerns are cooling (8%→7% of field), led by Smart material.
rising sub-themes (early→recent)
  • Smart material6
  • Polymer3
  • Shape-memory alloy3
  • Nanotechnology2
  • Smart polymer2
Landmark Polymer-based smart materials by printing technologies: Improving application and integration · 166 cites
RESEARCH HOTSPOTS · Spain

Where advanced materials is researched across Spain

Location clusters by institution affiliation — each city's volume, stance tone, and a quick read on its hot topic, what's advancing, the opening opportunity, and the main concern.

Madrid36 · +0.64
Hot · ActuatorAdvancing · Magnetorheological fluidOpportunity · Elastomer
Leioa29 · +0.34
Hot · Shape-memory alloyAdvancing · Composite numberOpportunity · Composite material
Barcelona22 · +0.26
Hot · Smart materialAdvancing · PiezoelectricityOpportunity · Peptidomimetic
Zaragoza12 · +0.83
Hot · Liquid crystalAdvancing · ElastomerOpportunity · Actuator
Seville11 · +0.71
Hot · Structural health monitoringAdvancing · Carbon nanotube
Granada8 · +0.62
Hot · Magnetic fieldAdvancing · Smart materialOpportunity · Piezoelectricity
Cerdanyola del Vallès7 · +0.69
Hot · Smart materialAdvancing · Composite material

Common questions

How many Chemicals and Materials Tech companies are there in Spain?
Radar tracks 65 indexable Chemicals and Materials Tech companies headquartered in Spain that meet our profile-completeness bar.
What is the total funding raised by Chemicals and Materials Tech companies in Spain?
The Chemicals and Materials Tech companies in Spain on this list have raised a combined $154.6M in disclosed equity funding across 32 funded companies.
Which is the highest-funded Chemicals and Materials Tech company in Spain?
Recoverfiber is the highest-funded Chemicals and Materials Tech company in Spain, with $100M in disclosed equity funding.
How many Chemicals and Materials Tech companies in Spain are funded?
32 of the 65 Chemicals and Materials Tech companies in Spain on this list have disclosed at least one equity funding round.
How many Chemicals and Materials Tech unicorns are there in Spain?
1 Chemicals and Materials Tech company in Spain on this list is valued at $1B or more.
Who are the top investors in Spain Chemicals and Materials Tech companies?
The most active investors in Spain Chemicals and Materials Tech companies on this list include Europa, EIC Fund, Fundación Repsol, BeAble Capital, Repsol.
Rohit KhannaTrends & Stories

Rohit lives in the feed. He covers what's moving right now — the funding rounds, launches and shifts breaking across the trade press — and ties them back to where the sector is heading.

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