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Two recent studies – one from Composite Insights and the other from Lucintel – focus on the development of the composite market in North America. Both reports show satisfactory growth rates for the 2009-2014 period, especially for high-value-added products. America is and will remain a land of choice for composite materials, for many years to come.
North American composites industry 2009-2014
The North American Composites industry has strong proven track record for its high volume usage with automated processes coupled with good design and development expertise. North American composites industry is forecast to see further decline in demand through 2009.
However, impressive recovery in automotive, construction, and marine industries is expected from 2010 onwards. The future of the North American Composites Industry looks prosperous through 2014 and beyond. Demand for raw materials used in North American composites industry is forecast to reach $7.1 billion by 2014.
Demand for thermoplastics composites is projected to grow at above average rate through 2014, fuelled by their high performance, competitive cost, processing advantages over thermoset composites and better design capabilities. Unsaturated polyester composites demand will rise at an average pace through 2014, reflecting renewed economic growth and the introduction of improved resins and processing techniques. Epoxy composites demand will grow at a more rapid rate due to opportunities in wind energy and electrical/electronic segments.
Wind turbine blade market is currently dominated by offshore producers; however, blade manufacturers are opening up facilities in the North America in order to reduce transportation costs for the huge blades. Increased output of Aerospace components will also drive the growth for epoxy composites in North America. Glass fibers, due to their low cost and good performance, will remain the dominant reinforcement material through 2014. However, demand for carbon fiber will increase at a significantly faster rate due to opportunities in high performance areas such as aerospace. This report from Composite Insights provides detailed analysis of the North American composites industry.