PARIS — March 6, 2013 — The composites market is booming with an average of +6% growth per year since 2010. With a growing demand for better environmental impact reduction and costs savings, composites are used more and more often to lighten structures, aircraft, and vehicles in general, thus improving energy efficiency. JEC GROUP, the largest composites industry organization worldwide, has identified five developments in the market that could grow even bigger by 2030.
"Indeed, the global composites market represents 81.6 billion euros (US$108.9 billion) in value for 2012. This market is growing at an average of 6 percent per year. The composites industry is growing in volume in correlation with the increase of gross domestic product by country. And penetration continues in some sectors like Aeronautics. For instance, we expect the Composites market for Aerospace to be 4 times bigger than today by 2030. Also new applications in high volume markets continue to appear for instance in EEE, i.e. Electricity, Electronics & Consumer Goods, especially in Asia. JEC Group has developed a Knowledge & Networking service package including three platforms in Europe, Asia-Pacific, and the Americas to cover the whole composites market. They enable the Group to detect main trends that contribute to the composites market growth. I can foresee 5 new trends that could change and boost the market, therefore contributing to make it bigger by the next five years. The forecast is 12 Millions of metric Tons by 2017 (compared to 9.2 million metric tons in 2012)" says Mrs. Frédérique Mutel, JEC Group President and CEO.
