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JEC is forecasting strong growth for the Americas composites industry through 2018 as the result of macro trends that are generating demand for advanced composites across multiple sectors.
JEC says projected growth of the overall market for composites, which totalled U.S. $37 billion for America in 2012, will continue to exceed expectations going forward. This expansion is being driven by investments in new and refreshed infrastructure, sustainability initiatives including wind energy generation, energy conservation in the automotive and aerospace industries and rapid urbanisation.
“The growth of the Americas composites industry over the next five years will be quite robust based on current and projected demand from several key industry sectors,” said Mrs. Frédérique Mutel, JEC Group President and CEO. “Our research indicates that the industry has rebounded from the economic downturn and is showing strong growth potential in many application areas – from wind turbine blades, aerospace components and building and construction materials to carbon fibre for automotive parts. Continued technological innovation and development of new applications will help to ensure the continuation of this healthy growth.”
The increasing demand for products that minimise environmental impact is helping spur greater use of composites. The following areas demonstrate particularly high growth potential in the Americas:
JEC explains that population growth, urbanisation and a growing middle class are all driving new growth for composites in infrastructure applications in the Americas. Indeed, infrastructure is one of the top three growth industries for composites, which offer design flexibility, corrosion resistance, durability, easy installation, weatherproofing and weight reduction.
Key applications include carbon fibre-reinforced plastic panels, rebars, and door and window profiles, as well as carbon-fibre-filled cement, which helps reduce overall weight for buildings, roads and bridges while maintaining high strength. Infrastructure will drive strong continued growth opportunities for composites due to innovations in materials technology that aim to reduce overall cost of end products by 30%, and evolving legislation that promotes their adoption and use.
Photo provided by JEC Composites.
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