High performance composite demand will be fueled by high growth in the commercial airliner
market as well as in emerging applications such as wind turbines and pressure vessels.
US demand to rise 14.7%
annually through 2016
US demand for high performance
composites -- i.e., polymer materials
containing advanced fiber reinforcements
-- is forecast to rise almost 15
percent per year to $10.2 billion in 2016.
Advances will represent a considerable
improvement over the pedestrian growth
of the 2006-2011 period, during which
composite demand was hampered by
declines in military and sporting goods
applications. Going forward, high
performance composite demand will be
fueled by tremendous growth in the
commercial airliner market as well as
emerging opportunities in applications
such as wind turbines and pressure
vessels. However, the relatively high
cost and labor-intensive production of
advanced composites will prevent these
materials from penetrating high volume
and price-sensitive markets.
Aerospace to remain
leading market
Aerospace markets will remain the
leading outlet for high performance
composites in 2016 and will be by far the
fastest-growing. While composites have
long been used in military aircraft and
helicopters, they are beginning to
penetrate the commercial airliner
segment on a large scale as well. The
production ramp up of the Boeing 787
DREAMLINER, which has more than 50
percent composite content, will drive the
bulk of the increases in high performance
composite demand. Rising
production of other composite-intensive
airliners, such as the Airbus A380 and
A350 XWB, will also benefit demand.
Outside of aerospace applications,
another strong area of growth for high
performance composites is the burgeoning
wind energy market. Much slower
growth is expected for defense and
safety applications -- due to a reduction
of combat forces in Iraq and Afghanistan
-- and the highly mature sporting goods
market. The motor vehicle market, which
holds perhaps the greatest potential for
high performance composites, will see
only moderate gains in demand, as their
use continues to be restrained by high
cost and slow production speeds.
Carbon fiber to remain
largest product segment
Among product types, carbon fiber
composites will continue to account for
the largest portion of demand, totaling 83
percent of the high performance market
in 2016. Carbon fiber composites will
benefit from robust growth in the aerospace
market as well as their versatility,
good balance of mechanical properties,
and moderate cost compared with other
high performance composites. S-glass
fiber composites -- the least costly of all
advanced composites -- will also see
double-digit gains in demand, fueled by
opportunities in aerospace, wind energy,
and pressure vessel markets.
Study Scope
This study analyzes the $5.1 billion US high performance composite industry. It presents historical demand data for the years 2001, 2006 and 2011, and forecasts for 2016 and 2021 by fiber (e.g., carbon fiber, s-glass, aramid fiber), market (e.g., aerospace, industrial and automotive, defense and safety, energy, consumer, construction) and resin (e.g., epoxy, thermoplastics, polyester, phenolics).
The study also considers market environment factors, details industry structure, evaluates company market share and profiles 36 industry players, including Hexcel, Cytec and Toray.
