Composite Materials Market.pdf

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KEY INSIGHTS
The global market for the composite materials is anticipated to experience substantial
growth and reach approximately $36 bn with a CAGR of about 7% in the year span of
2014-2020
The top three market segments in 2014 were transportation, construction and pipe and
tank. These segments represented 69 percent of total volume.
Demand in the U.S. composites market is expected to reach $12 billion by 2020 with a
compound annual growth rate (CAGR) of 6.6 percent.
Demand for CFRP (Carbon Fibre Reinforced Polymer) is forecasted to rise to 157,000
tons by 2020
The glass fibers are most extensively used as a raw material for composite materials.
Glass fiber accounts for about 90% of the reinforcements used in composite
consumption, globally.
Asia-Pacific and North America dominates the global GFRP Composites market,
accounting for 67% of the overall market in 2013
The GFRP composites by raw material type is projected to grow at a CAGR of 7.1%
during 2014-2020
Within aerospace, composite materials demand grew by 10.7% in 2014. Composites
usage will continue to grow because of increased production of advanced aircraft models
The demand for composite materials within the pipe and tank market grew 5.2% in 2014
Significant innovation is expected in future development of low-cost carbon fibers for
automotive, wind energy and industrial applications