Opportunity & Attractiveness of BRIC (Brazil, Russia, India & China) Composite Markets: 2009-2014, November 2009

The four BRIC countries (Brazil, Russia, India and China) have a combined population of 2.7 billion, slightly less than half the world’s total population. The composites market in these 4 countries has been on a fast growth trajectory over the past last 5 years having increased at a 10% CAGR. Over the next 5 years, total composites consumption in BRIC nations is expected to continue strong growth at a 9% CAGR in the next 5 years. The composites material market is expected to reach US $ 8.5 billion in 2014 from a base of US $ 4 Billion in 2008.

There are some significant growth drivers for composites in BRIC nations. Liberalization and privatization of industries and massive foreign direct investment along with relative cost advantages are encouraging strong growth in each of the four markets. Additionally, several market segments are booming in BRIC nations such as pipe & tank, construction, wind and automotive, and are driving significant composites growth. The glimpses of this growth can be noticed in these segments; for example, in construction there is an increase in infrastructure activity and strong rise in urban populations, while in in pipe and tank,  the burgeoning oil and gas sector as well as greater usage of large diameter pipes for mega water transport projects is helping drive demand. BRIC countries are the hub for automotive production which is expected to grow because of their cost advantage and sizeable and growing domestic markets.