Dallas- For the composites industry, 2007 has been a tough year.
The industry finished the year with a modest gain due to growth of certain markets.
The U.S. housing market clearly had a negative impact in North America.
At the end of 2007, the market for composite products reached an estimated $56 billion.
Lucintel identified best and worst performing markets and regions in 2007 and most
importantly forecasts the geographic regions, sectors and sub-sectors which will
bring the best returns for 2008 and beyond.
The worst performers for the composites industry in 2007 were North America’s:
- Construction Market
- Transportation market
- Electrical / Electronics Market
- Consumer Market
- Marine Market
For the composites industry in 2007, China and India were winners regionally,
along with the following global market segments: Wind Energy, Aerospace, and Pipe
and Tank. Lucintel expects rapid growth of CFRP (carbon fiber reinforced plastics)
compared to GFRP (glass fiber reinforced plastics) products in future. In last 15
years, the market for GFRP grew by 50%, while market for carbon fiber composite
products grew by about 250%. A similar trend is expected in future, with CFRP product
growth outpacing GFRP.
Lucintel’s new flagship market study “Global
Composites Market 2008 – 2013: Opportunities, Markets & Technologies”
identifies over 15 applications and markets, where there will be 5% to 50% annual
growth for composites in next 5 years. For example even though marine market is
down in the USA, demand for luxury boats / yachts (of sizes over 30’) are
growing rapidly in Europe. Composite material suppliers should focus their strategy
to align themselves with European yacht builders such as Ferretti, Azimut, Groupe
Beneteau, Rodriguez group, Sun Seeker, and more to meet their growing need for large
size boats.
This 440-page research report contains product segment growth breakdowns, emerging
materials reviews, mergers and acquisitions highlights, regional market analyses,
trends and forecasts, enabling you to make confident business decisions in this
globally competitive marketplace. This can help clarify your vision of the future
to drive your company’s performance.
For detailed table of contents and pricing information on this timely and insightful
report, please contact helpdesk at 972-636-5056, or via email at
helpdesk@lucintel.com.
We look forward to partnering with you in the near future.