Lucintel’s latest report released in late 2010 predicts that the major industries that will promote the growth of polymer composites in the future are construction, automotive, aviation and wind energy. In the automotive industry, polymer composites are becoming the material of choice for replacing traditional materials. Lucintel expects that by 2014, the market value of polymer composite materials in North America will reach 1.581 billion U.S. dollars, with a compound annual growth rate of 4%. From 2009 to 2014, the European automobile production will continue to grow rapidly. As a result, the demand for composite materials market is expected to increase at an average annual rate of 6.87%. In 2014, it will reach 1.829 billion US dollars.
According to data released by Brazil Composites Association ABMACO, by the end of 2010, the Brazilian composite market value will reach US$1.3 billion, an increase of 11% over 2006; demand will reach approximately 21 million tons, an increase of 14.7 million from the 183,000 tons in 2009. %.
In the future, India and China will play a greater role in the global value of 19 billion US dollars in the polymer composite market. In the past five years, the Asian composite market has grown rapidly. Considering shipments, Asia has replaced North America in 2008 and become a world leader. In the largest demand market, China and India’s economic growth and infrastructure construction will further promote the growth of Asia’s polymer composites market.
Introduction, compared with traditional materials, polymer composites have higher specific strength, chemical resistance and thermal shock resistance, and greater design flexibility. In order to further improve fuel economy, auto OEMs are trying to find new ways to reduce the total weight of cars. The application of polymer composite materials in automobile production has become more and more widespread. It was initially used only for the exterior structure of automobiles and has now been extended to all automotive components, including internal parts and under-the-hood components. Polypropylene-based composites will be the main driving force for the application of composites in the automotive industry.