Dallas, TX – March 07 --- For the composites industry, 2008 and 2009 were difficult years. Demand for composite materials dropped significantly in 2008 and 2009 but regained its foothold in 2010 with 10.3% growth. The construction, automotive, marine and E & E segments clearly had positive global impact in 2010. At the end of 2010, the market for composite products reached an estimated $50 billion and is expected to reach $78 Billion in 2016.
Lucintel identified best and worst performing markets and regions in 2010 and most importantly forecasts the geographic regions and market segments which will bring the best returns for 2011 and beyond. Worst performing markets in 2010 were pipe and tank, and wind energy; however: wind energy is expected to rebound, and along with marine and aerospace, is expected to see double digits growth in 2011.
Lucintel, a leading global management consulting and market research firm, has analyzed the global composites industry to develop a comprehensive research report entitled "Growth Opportunities in the Global Composites Industry 2011-2016
As per the study, future markets are expected to be more fragmented due to growth in emerging economies. Population growth, new infrastructural projects, urbanization, increase in middle class population, and the green movement will drive composites growth to new horizons in the future. New competitors are expected to surface as a result of this anticipated regional growth.
Lucintel expects rapid growth of CFRP (carbon fiber reinforced plastics) as compared to GFRP (glass fiber reinforced plastics) products in future. In last 15 years, the market for GFRP grew by about 30%, while the market for carbon fiber composite products grew by about 250%. A similar trend is expected in the coming years, with CFRP product growth outpacing GFRP
The report provides the reader with Lucintel’s forecast for 32 segments, defined by region and markets. This is supported by an analysis of the industry’s trends, key drivers and challenges.
For a detailed table of contents and pricing information on this timely and insightful report, please contact Lucintel at +1-972-636-5056 or via email at helpdesk@lucintel.com. To find out more, please visit http://www.lucintel.com
Contact:
Roy Almaguer, +1-972-636-5056 or via email at helpdesk@lucintel.com.