The Brazilian composite materials industry recently reported second quarter earnings of $440 million, a decrease of 1.7% compared to the first three months of the year. The consumption of raw materials fell 1400 tons, totaling 45,500 tons (-2.8%). These figures are part of the latest survey of Maxiquim, a consulting firm hired by the Brazilian Composite Materials Association (ABMACO).
The second quarter performance reportedly led Maxiquim to revise its projections for 2011. Now, the company estimates that revenues will increase 7.9% in the composites sector, totaling $1.740 billion; the previous expectation had been an 8.2% increase. In terms of volume, Maxiquim estimates that Brazil will process 211,000 tons, 3.2% higher than in 2010 but lower than the initial estimate, which was 214,000 tons.
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