Demand in the U.S. for high performance composites is expected to rise almost 15 percent per year over next four years.
Demand in the U.S. for high performance composites is forecast to rise almost 15 percent per year to $10.2 billion (US dollars) in 2016, according to a new study by market research firm The Freedonia Group.
Defined in the study as polymer resins reinforced with advanced fibre materials, the “High Performance Composites” report examines the U.S. market for high performance composites by fibre (carbon, aramid, S-glass), market (aerospace, industrial and automotive, defense and safety, energy, consumer, construction), and resin (epoxy, thermoplastics, polyester, phenolics).
“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,” the report stated. “However, the high cost and labor-intensive production of advanced composites compared to competitive materials will prevent these materials from penetrating high volume and price-sensitive markets.”
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Source: Staff | Canadian Plastics
Image: Oak Ridge National Laboratory