Last year, the world market for composite materials should have reached production volumes of around 10 million tons, with an estimated value of 78 billion dollars, down by about -14% compared to 2019 due to the effects of the pandemic. The main market is Asia, although Europe and North America stand out in higher value-added applications.
This is what emerges from the study “JEC Observer: Current trends in the global composites industry 2020-2025“, which already predicts a rebound this year. It will report the trend on the path of long-term growth: +8% annual average from 2010 to 2019, with a forecast of further development in the next five years, between +2 and +9% per year in the different geographic markets.
The 2021 edition of the JEC Observer in 2021 focuses in particular on the recycling of composites and the impact on the hydrogen-based mobility sector. According to the study, composite materials are recycled at much lower rates than other materials, but the scenario is improving with the entry of new companies that are creating new growth opportunities.
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