JEC Group: trends in the global composites industry 2020-2025

JEC Group: trends in the global composites industry 2020-2025

The JEC Group, Paris/France, has published the new 2021 edition of the JEC Observer: Current trends in the global composites industry 2020-2025, written in collaboration with Estin & Co., Paris. JEC Observer is the annual barometer of the composites industry. This new publication seeks to give a perspective and outlook of the industry for the next 5 years using graphs, key figures, market dynamics, and insights to illustrate the state of composites globally.
2020 was an exceptional year. Composites suffered from the impacts of the Covid-19 health crisis and there are no signs that indicate that it will be any different once this has abated, although the demand remains strong in some regions.
The composites market should decrease in all regions in 2021. There should be a stronger decrease in Europe and North America, than in China due to the Chinese economy recovering faster. The global composites market grew at 8% p.a. over 2010, 4% p.a. from 2010-2019, and should remain at -14% for 2020, due to the corona crisis and its impact on the economy. For the next 5 years (2021-2025), the composites industry should resume growth, at between 2% and 9% p.a. across regions.
The new 2021 JEC Observer edition has a special focus on composite recycling and the growing development of hydrogen and its impact on the industry. Globally, composite materials are recycled at a much lower rate than other prominent materials, but it has been improving. Thus, the recycling processes are gaining momentum with increasing numbers of companies entering the market and creating tremendous growth opportunities. Although the penetration rate of composites in the automotive industry has been slowly increasing over the past 40 years, hydrogen car manufacturing will certainly ramp up composites production worldwide in the long run.
For further information: www.jeccomposites.com

Source:
dfv media group
More information: JEC Group Composites Market report