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US composites demand forecast to decelerate: Survey

19 Aug '16

2 min read

Following the high growth rates achieved in the past five years, US demand for high performance composites is expected to decelerate and is forecast to rise 5.3 per cent per annum to $10.0 billion in 2020.

As per a Freedonia Group survey, this will represent a deceleration from the high growth period of 2010-2015, when composites demand shot up as Boeing's 787 Dreamliner, made of over 50 per cent composites, began deliveries.

Composites demand from aerospace applications will rise at a more moderate pace going forward, but the industry will also experience tailwinds from markets like wind energy and pressure vessels,” the survey said.

“High costs and labour-intensive production methods will continue to prevent these materials from expanding into higher volume and price-sensitive markets,” the survey observed.

The survey further said that aerospace will remain the leading market for high performance composites in 2020, while pressure vessels will show the fastest growth of all segments.

“While the automotive market will see strong gains, wider application is still years off, as carbon fibre composites still prove to be too expensive and too slow in processing,” the survey stated. (AR)

Fibre2Fashion News Desk – India