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Lucintel Composites market report
Lucintel’s Report Outlines 5.9% Growth of Global Composites Industry in 2011: Composite Materials Market to Reach $19 Billion in 2011
Dallas, TX – February 28 --- The Global Composites marketplace, after an extremely challenging 2009, rebounded in several segments and multiple geographies with an annual growth rate of 10.3%. Global composite materials market (fibers, resins, etc.) is expected to reach $19 Billion in 2011.
There were dramatic changes in the composites market in 2009 & 2010. Prominent segments such as construction, automotive and marine rebounded with double-digit growth due to economic recovery in most regions. However, the wind energy segment declined in 2010 in North America, faced with low natural gas prices, difficult credit availability especially with the bankruptcy of Lehman, a stagnant market for electrical energy and a lack of required short term targets for renewable energy.
Lucintel, a leading global management consulting and market research firm, has analyzed the global composites industry to develop a comprehensive research report entitled "Growth Opportunities in the Global Composites Industry 2011-2016".
As per the study, BRIC (Brazil, Russia, India and China) nations are emerging as the largest regional composites market. Rapid infrastructure and economic growth are driving the growth of the BRIC nations’ composites market.
This new in-depth report analyzes the status and future perspective of the composites industry at the end of 2010 and provides annual industry outlook for 2011. The report also addresses outlook for the next 5 years for the 8 major sectors of the composites industry and for 4 regions, thus tracking 32 sectors of the global composites industry. Key segments include transportation, marine, wind energy, aerospace, pipe and tank, construction, E&E, and consumer goods for each of four regions, North America, Europe, APAC and ROW. Each industry's outlook is determined by its own internal dynamics, by changes in the overall economy and relative adoption rates of composites.
Lucintel is of the view that several market segments will continue to grow in 2011 as economic recovery fully takes effect and a growth of 5.9% is expected in 2011. The report provides the reader with Lucintel’s forecast for the 32 segments, supported by an analysis of the industry’s trends, key drivers and challenges.
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