The Asia Pacific region already accounts for 38% of global composites manufacturing and the outlook points to further growth whereby the region's contribution will be 43% of global production in 2015.
This forecast was issued as part of the annual survey of the composites market conducted by JEC (tktk). "The composites market is flourishing worldwide and a lot of this growth will continue to be fueled by industrial development in Asia," says Frédérique Mutel, President and CEO of JEC Group. "Market demand for the use of advanced composites is increasing across a wide spectrum of applications, and we expect to see sustained growth for composites in the electrical and electronics, automotive, and aeronautics industry segments over the next five years."
In 2010, global composites production expanded by nearly 5% to reach eight million tonnes according to JEC, driven mainly by unprecedented market growth in China and India....