JEC publishes composites market overview

The JEC Group has published a new book entitled ‘Overview of the global composites market – at the crossroads’.

The company says that the book includes an analysis of the composites market and the materials’ potential and highlights the challenges that lie ahead in this sector.

Since 2014, the composites market has been on a constant upward swing, according to JEC. Between 2015 and 2016, the sector’s value grew from US$78 billion to US$82 billion. JEC Group forecasts growth of 5% a year to reach a value of US$103 billion by 2021. Asia is the continent with the most potential for composites and represents almost half of the market in terms of volume and over 40% in value.

As well as analysing the composites market in general, the study will also look at how composites have conquered different sectors such as aeronautics, the automotive industry, construction and the marine sector.

‘For a long time, composites enabled us to make remarkable products with exceptional capacities,’ said Frédérique Mutel, JEC group president & CEO. ‘Often they would be made in unique or small series production. Today the challenges we face are different. Enduse sectors, particularly the aeronautics and automobile industries, require large-scale production. The composites industry must meet the specifications of large series production.’ 

This story is reprinted from material from JEC, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.