Trends in the global composites industry 2020-2025
The composites market should decrease in all regions in 2021. There should be a stronger decrease in Europe and North America, than in China due to the Chinese economy recovering faster. The global composites market grew at 8% p.a. over 2010, 4% p.a. from 2010-2019, and should remain at -14% for 2020, due to the corona crisis and its impact on the economy. For the next 5 years (2021-2025), the composites industry should resume growth, at between 2% and 9% p.a. across regions.
The 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 has been improving. Thus, the recycling processes are gaining momentum with increasing numbers of companies entering the market and creating tremendous growth opportunities. Although the penetration rate of composites in the automotive industry has been slowly increasing over the past 40 years, hydrogen car manufacturing will certainly ramp up composites production worldwide in the long run.
For further information: www.jeccomposites.com