JEC COMPOSITES MAGAZINE - Issue #121 - May 2018 - 28

BUSlNESS trends

Overview of the North American
composites market
In volume, the global composites market was approximately 10.8 Mt in 2016,
growing from 10.4 Mt in 2015. The second largest market, after Asia, is North
America (2.8 Mt), representing 26% of the overall market in terms of volume and
30% in terms of value.

l

n North America, the transportation, construction, aerospace
and marine sectors respectively
account for 36%, 22% and 5% of
the composites market, which
is significantly higher than the
global average.
Over the 2016-2021 period,
North America should grow
at 2%, and its share of the total
growth is forecast to reach 11% in
the future.
Automotive and ground
transportation
In value, the transportation
industry made up 25% of the total

composites market in 2016. Its
share of growth within the total
composites market for the 20162021 period is estimated at 25%.
Both North America and Europe
represented a strong market
share (32% and 31%) within the
transportation segment in 2016
and are forecast to have a strong
share growth in 2016-2021.
Aerospace and defence
The demand for aerospace carbon
fibre is expected to reach 22,100
tons by 2020 (ACMA). The aerospace and defence industry made
up 13% of the total composites
market in 2016 in value. In 2016-

2021, its share of growth within
the total composites market is
estimated to reach 16%.
North America represented the
strongest market (57% in value)
in 2016, and it is expected to be
the largest growth driver for 20162021.
Construction
Composites should have a
higher penetration in "green"
buildings because of the benefits
they provide over traditional
materials. Composite materials
are extremely durable and require
low maintenance, therefore they
offer a longer service life and more

re-use opportunities compared to
conventional materials. They are
also light and flexible while offering more stiffness, higher strength
and more design possibilities.
In value, the construction industry accounted for 14% of the total
composites market in 2016. Over
the 2016-2021 period, its share of
growth within the total composites market should reach 13%.
North America, representing 28%
of the total, is the largest market
within the construction segment
right after China. Its share of
growth will decrease to 16% in
2016-2021.
Marine industry
Due to their highly customized
nature and the highly corrosive
metal environments they operate
in, boats were a great candidate
for composites materials. As a
result, the marine industry is one
of the sectors where composites
achieved a high level of penetration very quickly.
As the largest market for the marine industry, the US market is the
biggest driver for composite sales
in this industry (50% in value). As
boats are generally considered a
luxury good, the US boat market
is largely driven by economic
cycles.
More information:
www.jeccomposites.com
www.acmanet.org

28

jec composites magazine / N°121 May - June 2018
http://www.jeccomposites.com http://www.acmanet.org
Table of Contents for the Digital Edition of JEC COMPOSITES MAGAZINE - Issue #121 - May 2018
