Market Report · July 31, 2026
Report Feature
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.
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Methodology
Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in this market
- Detailed secondary research from competitors’ financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
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