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JEC Group has identified five developments in the market that could grow even bigger by 2030.
JEC Group statistics claim the composites market is booming with an average of +6% growth per year since 2010. With a growing demand for better environmental impact reduction and costs savings, it says composites are used more and more to lighten structures, aircraft, and vehicles in general, thus improving energy efficiency.
“Indeed, the global composites market represents 81.6 billion euros (US$108.9 billion) in value for 2012. The composites industry is growing in volume in correlation with the increase of gross domestic product by country. Penetration continues in some sectors like aeronautics. For instance, we expect the composites market for aerospace to be 4 times bigger than today by 2030. Also new applications in high volume markets continue to appear for instance in electricity, electronics & consumer goods, especially in Asia. JEC Group has developed a “Knowledge & Networking” service package including three platforms in Europe, Asia-Pacific, and the Americas to cover the whole composites market. They enable the Group to detect main trends that contribute to the composites market growth. I can foresee 5 new trends that could change and boost the market, therefore contributing to make it bigger by the next five years. The forecast is 12 Millions of metric Tons by 2017 (compared to 9.2 million metric tons in 2012)” says Mrs. Frédérique Mutel, JEC Group President and CEO.
According to JEC Group, over the past few years, the composites sector has developed its ability to convert processes, including for large and complex-geometry parts. Large companies have invested heavily in these new technologies, which lower the cost of composite parts (e.g. thermal curing technology enables mass production in the aerospace and the automotive sectors). “Innovation is mainly directed towards manufacturing and in particular, mass production notably in Europe” specifies Mrs. Mutel. “For example, of all the patents granted for composites in Europe in 2011-2012, 52% involved robotics and automated manufacturing processes.”
JEC Group has noticed a development in the properties of thermoplastics and explains that new resins, fibres and additive have been developed in order to improve mechanical, thermal or conductivity properties. This will have a huge impact on the automotive sector notably thanks to the revolutionising thermoplastics resins.
Turning materials into smart composites with sensors, conquering new application sectors such as electronics and consumer goods and using recyclates to produce new composites are other areas in which we are set to see growth by 2030.
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