Report assesses composites market growth in China

Ireland-based Research and Markets says the Chinese composites industry is expected to see significant growth over the next five years and reach an estimated value of $1.5 billion by 2018.

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Research and Markets (Dublin, Ireland) reported on Jan. 11 the publication of a new report that focuses on the application and growth of composites in China. According to the report, the composites market in China is expected to see significant growth over the next five years and reach an estimated $11.5 billion in 2018.

Major composites market segments such as construction, transportation, and electrical and electronics (E&E) experienced good growth in 2012. In terms of value of shipments, the largest consumer of composites shipment materials was the E&E sector, followed by the pipe and tank sector. According to the study, aerospace and defense, marine and E&E are expected to maintain healthy growth during 2013-2018.

In the future, the author expects increased market fragmentation due to the emerging Chinese economy. Significant technology transfer is expected from the U.S. and Europe to China. A significant number of joint ventures (JVs) are anticipated in the next five years. Joint ventures already have been established in the grating, pultrusion, automotive, wind energy and printed circuit board markets. A significant improvement is expected in capacity for high-volume production processes such as sheet molding compound (SMC) and pultrusion.

This study indicates that new business models need to be created to address a fast-changing, complex world. Quarterly demands on composites shipment monitored by the author present significant changes (up to 40 percent change quarter by quarter) in various market segments; thus, companies need to react quickly to meet market needs.

The report, which provides trend scenarios and forecast statistics for 2013-2018, details industry drivers and challenges, analyzes composites markets by type of resin and applications, and highlights major multinational players. The study also describes export and import markets, tariff on resins and fiberglass materials, and more.

Electronic copies of the report (single user), are €3,640; Electronic copies of the report (1 to 5 users) is €4,828. Click here for more information about the report and to purchase a copy.