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JEC Group has published ‘Overview of the global composites market – at the crossroads’, an analysis of the composites market and its potential, which also highlights the challenges that lie ahead in this sector.
JEC reports that since 2014, the composites market has been on a constant upward swing: between 2015 and 2016, the sector’s value grew from $78 billion to $82 billion. JEC forecasts growth of 5% a year to reach a value of $103 billion by 2021. Asia is the continent with the most potential for composites and represents almost half of the market in terms of volume and over 40% in value. As well as analysing the composites market in general, the JEC book also looks at how composites have conquered different sectors such as aeronautics, the automotive industry, construction and the marine sector.
According to JEC, the composites industry has grown rapidly thanks mainly to innovation, which has created new applications for users and improved on existing applications. In the future, the industry’s growth will depend on other capabilities.
“For a long time, composites enabled us to make remarkable products with exceptional capacities,” explains Frédérique Mutel, JEC Group President & CEO. “Often they would be made in unique or small series production. Today the challenges we face are different. End-use sectors, particularly the aeronautics and automobile industries, require large-scale production. The composites industry must meet the specifications of large series production. This is an unprecedented opportunity. Our new book helps readers understand what is at stake.”
The 192-page study is available for a price of €374.40 (VAT excluded).
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