The composites industry is enjoying its ninth consecutive year of growth, and there are many opportunities in many verticals. As the main reinforcement material, glass fiber is helping to promote this opportunity.
As more and more original equipment manufacturers use composite materials, the future of FRP looks promising. In many application areas-concrete reinforcement, window frame profiles, telephone poles, leaf springs, etc.-the use rate of composite materials is less than 1%. Investments in technology and innovation will contribute to the significant growth of the composites market in such applications. But this will require the development of disruptive technologies, major collaborations between industry companies, redesigning the value chain, and new ways to sell composite materials and end-use products.
The composite materials industry is a complex and knowledge-intensive industry with hundreds of raw material product combinations and thousands of applications. Therefore, the industry needs to identify and prioritize some bulk-use applications based on factors such as synergy, capacity, innovation potential, feasibility of opportunities, intensity of competition, profit potential, and sustainability to promote growth. Transportation, construction, pipelines, and storage tanks are the three major components of the US composite industry, accounting for 69% of the total usage.
Post time: Jun-11-2021
