JEC OBSERVER: Current trends in the global composites industry 2020-2025
JEC Group has published the new 2021 edition of the JEC Observer: Current trends in the global composites industry 2020-2025, written in collaboration with Estin & Co. JEC Observer is the annual barometer of the composites industry. This new publication seeks to give an ample perspective and outlook of the industry for the next five years using graphs, key figures, market dynamics, and insights to illustrate the state of composites globally.
The impact of the 2020 world health crisis
2020 has been an exceptional year, on account of the very nature of the crisis and its scope. The composites have suffered from the impacts of the health crisis and there are no signs that indicate that it will be any different once this new crisis has abated explaining certain figures. Although the demand remains strong in some regions. Here are few takeaways with figures for 2020 and an outlook for 2021-2025.
• The composites market should decrease in all regions in 2021. There should be a stronger decrease in Europe and North America, than in China – the Chinese economy recovering faster.
• In 2020, the global composites market should be, once consolidated, of 10.0 Mt (Million of metric tons) for 78 B$. Asia remains the largest market. Americas and EMEA still have higher added value Applications
• The global composites market grew at 8% p.a. over 2010, 4% p.a. from 2010 to 2019, and should remain at -14% in 2020, due to the COVID crisis and its impact on the economy.
• For the next five years (2021-2025), the composites industry should resume growth, at 2% to 9% p.a. across regions.
• The composites market should experience a strong rebound in 2021 for almost all applications (except for aerospace, with a rebound expected in 2022 and beyond). It should be noted that in general, countries with strong growth continue to show such growth and are more likely to rebound rapidly post-crisis.
Recycling and Hydrogen to keep composites demand up.
This new 2021 JEC Observer edition has a special focus on composite recycling and the growing development of hydrogen and its impact on the industry.
• Globally, composite materials are recycled at a much lower rate than other prominent materials, but it’s been improving. Thus, the recycling processes are gaining momentum with more and more companies entering the market and creating tremendous growth opportunities.
• Although the penetration rate of composites in automotive has been slowly increasing over the past 40 years, hydrogen car manufacturing will certainly ramp up composites production worldwide in the long run.
“There are good reasons to think that better days are ahead. Hydrogen is stirring up growing interest and offers genuine openings for composites, in the transportation sector. Also, all dimensions of the environment—material, waste, processing, recycling—represent opportunities to be seized, and those who do are sure to make a difference. Expectations are running high across the world”, says Frédéric Reux, Editor-in-Chief of the JEC Composites Magazine.
“The sanitary crisis has accelerated some deep underlying trends that were already present before it all started. Asia has become and will remain a strong growth driver for the industry at a global level. EMEA and Americas remain geographies where innovation for composites is at the forefront. Composite materials still bring critical positive features of mechanical strength, lightening, and insulation functions. Based on this, they pave the way for more resilient industrial applications in all types of transportation, construction, energy and electrical solutions, etc.”, says Julien Deleuze, Vice President at Estin & Co.
The book « Overview of the global composites market, 2020-2025 » is for sale online at http://www.jeccomposites.com/e-store.
Overview of the global composites market, 2020-2025
Authors: JEC Group and Estin & Co
290 € VAT incl. / 96 pages / Available in English.
1. Current trends in the composites industry
2. Key recycling stakes in the composites industry
3. The growth opportunity for composites in hydrogen vehicles