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Composites Market

Bharat Book Bureau | Tuesday 14 August 2012 ( 0 Comment)

Composites are becoming increasingly important in many different industries. The need to save energy is fuelling the increase of composites in aerospace sector, and in the automotive sector. The necessity to diversify away from traditional sources of energy is increasing demand for wind energy, another sector important for composites demand. Composites are also sought after in sectors dealing with corrosion and construction, as they are strong, resistant to damage and easy to install. Research Report The composites market has bright prospects ahead and as a consequence, Visiongain has determined that the value of the global composites market in 2012 will reach $62.6bn. 

Glass fibre composites are the most popular due to their cheap price and ease of manufacturing, and will remain as the largest submarket (both in volume and value) of composites throughout the forecast period. Carbon fibre composites are expensive, but favoured in demanding applications such as the aerospace and automotive industries. Strong growth prospects are forecasted as increased energy prices push manufacturers to save costs through using innovative materials. Aramid fibre composites are in demand in security and high-vibration applications, and it is predicted that new uses for aramid fibre will be developed over the forecast period. Other fibre composites and hybrids are forecasted to grow strongly, as sophisticated and purpose-built composites will become necessary for new applications. 
In the North American, European and other developed markets around the world composites are becoming more complex, and increasingly high-value. While the current economic conditions are reducing investment in many industries, composites sales are expected to remain robust, and increase considerably once economic conditions improve. Business Research Emerging and developing markets in the Middle East, Africa, Asia and South America have a robust demand for composites as well. Many industries in these countries are taking their first forays into using composites - as a consequence the composites demand in these regions is forecasted to be high. Over the long term as the industries in these regions develop and require more sophisticated composites, the global composites demand is forecasted to accelerate.
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