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Asian composites market share is expected to reach 47.7% in 2021.
Published:
2018-11-20 09:55
As the wind and aviation markets show double-digit growth rates, the global composites market is expected to achieve a CAGR of 3.5% over the next five years. In addition, the continued growth of the urban population and the rapid growth of the construction and infrastructure sectors are also the main drivers. The Asian region is the region with the fastest growth rate in the composites industry and is expected to continue to grow in the future.
By 2021, the Asian composites market share is expected to reach 47.7%, and in North America, the market share is expected to be around 26.2%. However, due to the relatively low per capita composite consumption, the BRIC countries are expected to maintain long-term growth. In 2016, the global composites industry is expected to grow by 3.5%. In some key regions, such as the United States and Europe, the continuous improvement of the economic situation will inevitably drive the growth of the global composites market. In the next five years, there will be better expectations in the construction and transportation sectors.
The market for glass fiber composites is not as fast as carbon fiber. Market competition will intensify in the future, and innovative companies are expected to be the ultimate winners.
In the composites industry, there have been some new trends that have a direct impact on industry dynamics, such as low-cost automotive carbon fiber, wind energy applications, and the continuous development of high-performance fiberglass.
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