Dallas - December 14, 2009 - As a developed economy, Australia has yet to reach the the consumption and penetration levels for composites consumption achieved by other Western Economies. Nevertheless, the Australian composites market has considerable potential to grow and the composites raw material market is expected to reach $180.3 million by 2014. Similarly, the composites end product market is expected to reach $515 million by 2014 with a CAGR of 3.6%. Lucintel, a leading global Management Consulting and market research firm with over 1000 clients worldwide, has analyzed the Australian composites market and has now published a comprehensive research report entitled “Growth Opportunities for Composites in Australia 2009-2014: Trends and Forecast Analysis”.
As per the study, in the long term end-use markets such as wind energy, pipe & tank, marine, transportation and construction, are anticipated to drive increased consumption during the forecast period (2009-2014). However, the present global economic slowdown will lead to moderate the growth rate in the short term with slow growth expected in the next couple of years.
Lucintel’s analysis finds that an absence of domestic carbon and glass fiber production and ready availability of skilled labour and technology are some of the major challenges hindering growth in he Australian marketplace. Growth opportunities are expected through increased interest in wind energy and aerospace. There are more than 1000 applications in composites in sectors such as agriculture, sanitation, transport, car industry, aeronautics, clothing and civil construction but uptake of composites in Australia for these have been slow.
Composites industry in Australia has strong participation from construction, marine and the automotive industry. These three sectors are the largest consumers of composites in volume and their performance again is dependent on the general direction of the general worldwide economy.
Luintel’s research report contains Australian Composites Market Analysis, Market Trends and Forecasts, Composites Raw Material Market Analysis, Carbon Fiber Market Analysis, Resin Market Analysis, Australian Economic forecasts and more. This insightful report can help you make confident business decisions in this globally competitive marketplace.
For a detailed table of contents and pricing information on this timely and insightful report, please contact helpdesk at +1-972-620-8888 or via email at helpdesk@lucintel.com. Lucintel provides cutting edge decision support services that help you make critical decisions with greater speed, insight and cost-efficiency. To find out more, visit www.lucintel.com .