Despite global economic uncertainty and a downturn in the worldwide composite materials industry, China’s composites market grew by more than 2% through the worst of the recession in 2009. According to “Growth Opportunities in the Chinese Composites Market 2012-2017,” the Chinese market’s growth momentum is expected to surge, reaching approximately $11.5 billion in 2017 with a CAGR of 7.3% over the next five years.
Lucintel, a global management consulting and market research firm, has analyzed the Chinese composites industry and presents its findings in this new report. The research outlines how the rapid growth in China’s economy has increased the demand for glass fiber. Demand for fiber-reinforced composites in 2012 is anticipated to be roughly 4,418 kilotons (9,737 million lbs.) in China. Transportation, construction, aerospace, and defense are expected to drive strong growth during the forecast period of 2012-2017.
Lucintel expects higher market fragmentation in the future because of additional growth and diversification in the emerging Chinese economy. Future markets are anticipated to be highly competitive, and those companies that demonstrate the most innovative and comprehensive capabilities can thrive and gain market share.
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