Products
CONTACT US
JIZHOU ZHONGYI FRP CO.,LTD. No. 14, Nanqiao Street, Jizhou City, Hebei Province, China.
Tel:+86-318-8638136
Fax:+86-318-8612721
E-mail:jzzyfrp@jzfrp.com
E-mail: salesdirector@jzfrp.com
E-mail:export@jzfrp.com
Home > news > Overview of the US composites industry

Overview of the US composites industry

The United States accounts for about a third of the global composite industry’s overall value,so it constitutes a key geographical area for that sector.The country also leads in terms of composite penetration rate,with around 7kg per capita(versus~4kg in Europe and ~2kg in China).

Main trends

Players in the American composite industry benefit from three global trends:

-Global growth driven final market applications where,on average,65% of the growth in volume(across sectors)will be driven by emerging Asian countries over the nest five years.

-Innovation breakthroughs at the global level,where R&D and innovation are driving the penetration of composites further with respect to traditional materials.

-A changing manufacturing and sourcing footprint,with globalization of suppliers or-when relevant-relocation of manufacturing to competitive countries(eg.China for glass fiber).

Annual Growth

The recovery growth prospects for the U.S. composite industry are promising,with annual growth at an expected 5% over the next five years,or approximately 25% of global growth.By 2018,about 70% of the US composite industry’s growth in value should be driven by three segments:aerospace(~30%),automotive(~25%)and construction(~15%).

Aerospace,Automotive and Construction

Due to their strong competitive position in the global aerospace industry,U.S.aerospace composite players(who account for about 60% of the global market share)are expected to capture a large share of the growth of the global fleet of commercial aircraft.About 37% of this growth will come from emerging Asian countries.

With a 40% share,the U.S. Market dominates the global automotive composite market.Driven by further penetration of composites(thanks to new fuel efficiency and CO2-emission standards,innovation,and new materials such as natural fibers),this market should continue to grow.U.S. Automotive composite players are likely to aim at further growth through an accelerated growth strategy in China,which is-and will remain-the leading market for global automotive applications.

In the building and construction sector,U.S.companies are leading innovation efforts in bridge and residential-housing applications.The growth of U.S.players in this segment will be driven by the repair of aging infrastructure in the U.S.(especially bridges),the recovery of the U.S.residential housing market-continuing urbanization in emerging Asia.
CUSTOMERS
more>>