Global Composites Industry Outlook in 2008 and Beyond: The Composite Products Market Reached $56 billion in 2007

Feb 07, 2008, 00:00 ET from Lucintel

    DALLAS, Feb. 7 /PRNewswire/ -- For the composites industry, 2007 has
 been a tough year. The industry finished the year with a modest gain due to
 growth of certain markets. The U.S. housing market clearly had a negative
 impact in North America.
     At the end of 2007, the market for composite products reached an
 estimated $56 billion. Lucintel identified best and worst performing
 markets and regions in 2007 and most importantly forecasts the geographic
 regions, sectors and sub-sectors which will bring the best returns for 2008
 and beyond.
     The worst performers for the composites industry in 2007 were North
-- Construction Market -- Transportation market -- Electrical / Electronics Market -- Consumer Market -- Marine Market For the composites industry in 2007, China and India were winners regionally, along with the following global market segments: Wind Energy, Aerospace, and Pipe and Tank. Lucintel expects rapid growth of CFRP (carbon fiber reinforced plastics) compared to GFRP (glass fiber reinforced plastics) products in future. In last 15 years, the market for GFRP grew by 50%, while market for carbon fiber composite products grew by about 250%. A similar trend is expected in future, with CFRP product growth outpacing GFRP. Lucintel's new flagship market study "Global Composites Market 2008 - 2013: Opportunities, Markets & Technologies" identifies over 15 applications and markets, where there will be 5% to 50% annual growth for composites in next 5 years. For example even though marine market is down in the USA, demand for luxury boats / yachts (of sizes over 30') are growing rapidly in Europe. Composite material suppliers should focus their strategy to align themselves with European yacht builders such as Ferretti, Azimut, Groupe Beneteau, Rodriguez group, Sun Seeker, and more to meet their growing need for large size boats. This 440-page research report contains product segment growth breakdowns, emerging materials reviews, mergers and acquisitions highlights, regional market analyses, trends and forecasts, enabling you to make confident business decisions in this globally competitive marketplace. This can help clarify your vision of the future to drive your company's performance. For detailed table of contents and pricing information on this timely and insightful report, please contact Sean Lofgren at 972-636-5056 or via email at We look forward to partnering with you in the near future.

SOURCE Lucintel