Composites 2017-2027: Innovations, Opportunities, Market Forecasts.
The supply chain for carbon fibre is highlighted as an example. (Source: IDTechEx)
Growth Opportunities in the Global Composites Industry
Global Information, Inc. 2017
The future of the global composites market looks attractive, with opportunities in the transportation, construction, wind energy, pipe & tank, marine, consumer goods, electrical and electronic, aerospace and others. The global composite materials market is expected to reach an estimated $39.1 billion by 2022 and it is forecast to grow at a
CAGR of 5.1% from 2017 to 2022. The global composites end product market is expected to reach an estimated $113.2 billion by 2022.
The major drivers for growth in this market are increasing demand for lightweight materials in the aerospace & defense and automotive industry; corrosion and chemical resistance materials demand in construction and pipe & tank industry; electrical resistivity and low flame retardant materials demand in E&E industry.
Emerging trends, which have a direct impact on the dynamics of the industry, include development of low-cost carbon fibers, high performance glass fiber and shorter cycle time of resin system.
Trends, opportunities and forecast in this market to 2022 by application type (transportation, marine, wind energy, aerospace, pipe & tank, construction, electrical & electronics, consumer goods, and others), raw material (glass fiber, carbon fiber, aramid fiber, polyester resin, vinyl ester, phenolic, polyurethane, thermoplastic resin, filler, and others), fiber type (glass fiber composites, carbon fiber composites, and aramid fiber composites).