Anybody in the composites industry will tell you that things changed drastically. Market Analyst Lucintel recently completed a report titled “Global Composites Market 2009-2014: Opportunities, Market and Technologies.” This report discusses the continued decline of several markets through 2009 depending upon the recovery of the economy as a whole. The worldwide economy of goods and services needs to recover to help the composites industry as a whole.
The composites industry represents a $19 billion section of the economy. Construction, automotive, and marine composites applications dropped off significantly, while wind energy, aerospace, and corrosion applications saw growth opportunities. The expansion of Asian economies, especially infrastructure has been a bright spot for composites application and opportunity.