DUBLIN, April 16, 2014 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/3tmd7v/growth) has announced the addition of the "Growth Opportunities in Global Composites Industry 2014-2019" report to their offering.
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The global composites market is anticipated to witness good growth and reach approximately $35.1 billion (25.6 billion) in 2019, with a CAGR of 6.6% over the next five years. The composites market is expected to experience substantial growth in future with new developments in various sectors.
The Asian region, which has already emerged as the largest growth area for the composites industry, is expected to further consolidate its leadership. Asia is anticipated to have a market share of approximately 49.5% by volume in 2019. North America is expected to be second with an estimated market share of 28.4% in 2019. Nevertheless, comparatively lower levels of per capita composites consumption is anticipated to help high growth markets in BRIC countries sustain momentum for a longer period. On a global basis, the composites industry is forecast to grow by 5.0% in 2014. Improving economic conditions in major countries such as the US and Europe are expected to propel the global composites market once again toward strong growth.
Lucintel's research further reveals that composite materials demand in the aerospace sector is expected to witness the maximum growth among all sectors. Construction and pipe and tank are anticipated to witness good growth in the next five years. Due to rapid development of infrastructure in China and India, demand for fiberglass pipes and tanks is growing rapidly. Carbon fiber composite applications are expected to grow rapidly compared to glass fiber applications.
In the future, Lucintel expects higher market fragmentation due to the emerging economies coming into play for the industry. The future market is expected to be highly competitive, and companies with innovative capabilities can be anticipated to thrive and gain market share.
The global composites industry report by Lucintel provides a concise overview of the global composites market. The study contains detailed analysis of different raw material use such as glass fiber, carbon fiber, aramid fiber, and polyester resin.
The data and analysis found in this report can be utilized for a variety of functional business reasons including business development, strategic planning, business presentations, determination of market size and trend, competitive analysis, investment decisions, business vision, and joint product development.
This report is a must-have report by every company working in the composites industry. In today's global economy, you need every advantage that you can find to keep you ahead in your business. Learn about current and future trends, identify key players, and explore the directions that the industry and different segments are heading.
Key Topics Covered:
1. Executive Summary
2. About the Composites Industry
3. Competitive Analysis between Steel, Aluminum, Plastics, and the Composites Industry
4. Global Reinforcement Market
5. Global Resin Market
6. Global Composites Market by Material Type
7. Global Composites by Market Segments
8. Global Composites Market by Manufacturing Processes
9. Trends and Forecasts
10. Regional Analysis
11. Value Chain Analysis and Industry Leaders
12. Materials and Technology Needs for the Future Composites Industry
For more information visit http://www.researchandmarkets.com/research/3tmd7v/growth
Media Contact: Laura Wood , +353-1-481-1716, [email protected]
SOURCE Research and Markets