Although the global composites industry has experienced moderate growth over the last five years, it is anticipated to gain momentum, reaching approximately $34.1 billion in 2018 with a CAGR of 5.1% over the next five years.

In 2012, the North America composites market grew strongly after modest growth in 2011. With sectors such as aerospace, wind energy, construction, and transportation performing well, the composites market significantly increased in North America. The growth rate in the Asian economies slowed but continued at a modest rate of 5% through 2009. The growing economies in China and India are helping Asia maintain its growth trajectory in the composites arena. The global composites market is expected to experience substantial growth in the near future with new developments in various sectors. Improving economic conditions in major countries such as the US are expected to propel the global composites market once again toward strong growth. 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. This research further reveals that composite materials demand in the aerospace sector is expected to yield the strongest growth rate. APAC and North America are projected to drive the future growth of composite materials.

This global composites industry report 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.

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