The overall outlook for the composites industry in 2008 appeared healthy, driven in large part by ongoing development of new commercial aircraft, including The Boeing Co.’s (Seattle, Wash.) 787 Dreamliner, Airbus’ (Toulouse, France) A380 and its midsized A350 XWB, together with a host of general aviation aircraft, all with unprecedented levels of composite components. Industrial, construction and sport applications also were on the rise in the first half of 2008. Material prices, however, continued to uptick in 2008 as composites resin suppliers and some fiber manufacturers compensated for the higher prices of crude oil in the third quarter of 2008.

According to the most current figures compiled by the Freedonia Group Inc. (Cleveland, Ohio), demand for reinforced plastics will increase to more than 4.2 billion lb (1.9 million metric tonnes) by 2011, a market value of $8.1 billion (USD). During that period, manufacturers of composites are expected to consume 2.7 billion lb (1.2 million metric tonnes) of resin and 1.5 billion lb (680,400 metric tonnes) of reinforcements. These figures, based on the assumption that the composites industry's will continue its generally strong performance do not take into account the unanticipated financial upheavals of late 2008. The credit market crisis, severe stock market losses, recessionary growth statistics and continuing global financial uncertainty have taken their toll on  the manufacturing sectior. In 2009, these factors are contributing to downturns in the U.S. housing market, the boating industry, construction starts and automobile and truck sales and to declines in other markets where composite find use. The effects these economic conditions will have on the proliferation of composites technologies into these markets is difficult to predict. Here, SB has gathered the best available information on the major markets served by the composites industry (see the individual market reports listed in "Learn More," at right).

Eyes on the horizon 

The relatively young composites industry, however, is no stranger to adversity. Composites innovators have successfully overcome sometimes stiff resistance to their technologies  in markets where legacy materials technologies are deeply entrenched and market conditions and costs fluctuate unpredictably. Although the recession brought on by the recent meltdown in the global financial system could be a deterrent in the short term to expansion in some markets, the composites industry has been no stranger to economic ups and downs. Current conditions are simply more of the same, albeit a bit "more so" than usual. And despite the tendency for “promising” market applications in the composites industry to remain out on the horizon, never quite within reach, the future, overall, bodes well in the long term.

Aerospace and wind power gains this decade have proven that, for the composite materials supplier and composite component manufacturer alike, persistence pays. Continued trends toward automation, streamlining of composite manufacturing methods and new material forms should make composites more user-friendly — not to mention more cost-effective — encouraging their use in greater quantities in existing markets and making them even more attractive to new industrial and consumer-driven markets. Greater availability of key materials, such as carbon fiber, and the resulting stability in their prices will — sooner or later — encourage OEMs to take composite prototypes into production.

Proponents of composites, whose products’ true value is seen in lifecycle cost analysis, have always taken the long view. As they already know and the growing number of their satisfied customers are finding out, economic storm clouds may obscure those sometimes-distant horizons, but they're still there and always remain within reach.