JEC Composites (Paris, France) has released a new worldwide strategic market survey of the composites industry, entitled Global Market Scenario – Dynamics of the Composites Industry. According to the study, the composites industry is growing in concert with gross domestic product (GDP) increases by country. In more developed countries, explains JEC Group president and CEO Frédérique Mutel, the composites industry’s position in the materials market, compared to competing materials (steel, aluminum, technical polymers), is now stable except in the aerospace realm, where composites still are expected to replace competing materials. In emerging countries, the composites market is mainly driven by economic growth following a development curve.

“Overall,” says Mutel, “with the exception of aeronautics, the worldwide composites industry is evolving globally in line with its underlying application industries.”

JEC forecasts an end to the economic slump in 2010 or 2011. The report further predicts annual composite market growth at 4 percent, from €60 billion or about $80.7 billion USD (representing 8.6 million tonnes or 18.9 billion lb) in 2008 to somewhere between €80 billion and €85 billion ($107.6 billion and $114.3 billion) in 2013 (10 million tonnes or 22 billion lb). Overall, the market shared by the so-called BRIC (Brazil, Russia, India and China) is expected to grow from around 22 percent today to 29 percent in 2013, with China alone representing 23 percent of the worldwide market that year. India and Brazil will follow at 3 percent each, with Russia trailing with less than 1 percent.

The report predicts that the main drivers behind worldwide growth in the composites market will be rapid expansion in

•    The Asian market, especially in China, with the main contribution, in terms of industries, coming from building and construction and automotive.
•    The wind energy market, driven by the combination of government regulations and public opinion, both of which will favor forms of renewable energy.
•    The aerospace sector, where lightweighting will drive development of new commercial aircraft with greater percentages of composites in their airframes.

By 2013, raw materials prices are expected to decrease for fiberglass and carbon fiber (driven by current overcapacity) and to increase for resins, as oil prices return to 2008 levels.